Sri Lanka has revoked a power purchase deal with India's Adani Group after a probe into U.S. allegations that the conglomerate's executives paid bribes to secure Indian power supply contracts, according to an AFP report published by the Economic Times newspaper on Friday.

The decision is in line with a desire to secure lower electricity tariffs, as activists had claimed smaller renewable projects in Sri Lanka were selling power at much lower rates, the AFP report said.

Sri Lanka has canceled a power purchase agreement with Adani Group, amid corruption allegations against the company's founder, Gautam Adani . The decision was taken by President Anura Kumara Dissanayake's administration, which is now reviewing the proposed wind power project.

Sri Lanka has revoked a power purchase deal with India's Adani Group after a probe into US allegations that the conglomerate's executives paid bribes to secure Indian power supply contracts, according

Adani Power shares fell after reports suggested that Sri Lanka has cancelled a power purchase agreement with the Adani Group amid corruption allegations from the US

COLOMBO: Sri Lanka has revoked a power purchase agreement with Indian conglomerate Adani Group following allegations of corruption, energy ministry sources in C