TPG Inc is reportedly in advanced negotiations to acquire the Indian wind energy assets of Siemens Energy AG’s Gamesa unit.  

Sources, who requested anonymity due to the private nature of the discussions, indicated that TPG has become the frontrunner after surpassing competitors, including industry players and private equity firms. The deal is expected to value the Siemens Gamesa India assets at over $300 million, they noted.

The discussions are still on-going, and no definitive decisions have been made, the sources added. Other bidders remain interested in the assets, which encompass the operation, maintenance, and manufacturing of wind turbines.

Siemens Gamesa has been considering divesting its Indian assets, which previously attracted interest from TPG, JSW Energy., and Inox Wind. A Siemens Energy spokesperson remarked that the Indian market holds significant importance for the company, offering considerable opportunities for the energy business. The spokesperson further stated that all options, including potential partnerships, are being explored, though no conclusive decisions have been reached yet.