Sri Lanka Revokes Adani Group Power Deal Following US Bribery Allegations

The agreement for a $442 million wind power project was canceled as Sri Lanka investigates corruption claims tied to Adani's global operations.

Sri Lanka's government has canceled a power purchase agreement with India's Adani Group after US authorities accused the conglomerate of bribery in November 2024.
The now-revoked deal involved a 20-year agreement to buy electricity from a $442 million, 484-megawatt wind power project in Sri Lanka's northwest, which had faced legal and activist challenges.
The project, approved in February 2023, has been stalled by court cases and criticism over its higher electricity costs compared to smaller renewable projects.
President Anura Kumara Dissanayake, who took office in September 2024, has prioritized anti-corruption measures, prompting a review of Adani's local projects.
While the agreement has been revoked, a government committee has been appointed to reassess the future of the proposed wind power project.