New Delhi, March 26 -- TPG, a global alternative asset management firm, has agreed to acquire a majority stake in Siemens Gamesa Renewable Energy's wind turbine generator businesses in India and Sri Lanka. Siemens Gamesa is a wind power subsidiary of Germany's Siemens Energy AG.

In a statement on Wednesday, TPG said the transaction was subject to closing conditions and regulatory approvals, but didn't disclose the financial details of the investment.

Mint reported in May last year that Siemens Energy had put up for sale Siemens Gamesa's India wind turbine unit to cut losses and return its global wind turbine business to profitability by 2026.

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