RPT-UPDATE 1-Carlyle, TPG eye stake in India's Suzlon - sources

(Repeats story issued late on Monday) (Adds details)

By Narayanan Somasundaram and Michael Flaherty

MUMBAI/HONG KONG, Dec 22 (Reuters) - Carlyle Group and TPG Capital are among the private equity firms looking at buying a stake in India's Suzlon Energy Ltd (SUZL.BO: Quote, Profile, Research), three banking sources close to the matter said, as the world's fifth largest wind turbine maker seeks to raise $500 million.

Suzlon, which needs a large part of the money to buy Portugal-based Martifer's (MARTI.LS: Quote, Profile, Research) stake in its German unit REpower (RPWGn.DE: Quote, Profile, Research) by May, wants to sell a 10-15 percent holding for about $300 million, the sources said.

The company hopes to raise another $200 million through a debt offering or by selling stakes in other units, the sources who are involved in the transaction said, adding that a deal could be reached in the next month or so.

Spokesmen for Suzlon and TPG declined comment. Carlyle could not be reached immediately.

The sources did not want to be named as they are not authorised to speak to the media. No banker has been mandated as yet to advise on the deal.

"There seems to be a fair bit of interest despite the global environment and some quality issues with the firm. PEs believe Suzlon has long-term potential," one source said.

Last week Suzlon had agreed with Martifer to stagger the payment schedule to buy the stake, a move that followed its suspension of an 18 billion rupee ($375 million) rights share offer due to weak stock markets.