A provisional deal has been reached over guarantees for Siemens Energy, the parent of loss-making wind turbine giant Siemens Gamesa, according to reports.

Siemens Energy two weeks ago acknowledged it is in talk about state aid in the form of around €15bn ($16bn) in guarantees needed to continue to finance large orders.

The main parties involved, including the German government and industrial conglomerate Siemens, which owns a quarter of Siemens Energy, have reached an agreement in principle, said Reuters.