TPG Inc is reportedly in advanced negotiations to acquire the Indian wind energy assets of Siemens Energy AG’s Gamesa unit. Sources familiar with the discussions, who wished to remain anonymous, have indicated that TPG has emerged as the leading contender, outpacing other industry players and private equity firms. The deal is anticipated to value the Siemens Gamesa India assets at over $300 million.

While discussions are ongoing, no final decisions have been made yet. Other interested bidders are still in the mix, vying for assets that include the operation, maintenance, and manufacturing of wind turbines. Siemens Gamesa has been contemplating the divestment of its Indian assets, which have previously attracted interest from TPG, JSW Energy, and Inox Wind.

A spokesperson for Siemens Energy emphasized the significance of the Indian market, highlighting its potential for growth in the energy sector. The spokesperson also noted that various options, including potential partnerships, are being evaluated, although no conclusive decisions have been reached at this time.