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United Technologies Sells Clipper Windpower to Private Equity Firm

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August 08, 2012

United Technologies Sells Clipper Windpower to Private Equity Firm

By Ed Silverstein
TMCnet Contributor

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The winds of change continue to impact the alternative energy landscape.

In the latest move, United Technologies Corp. has sold its wind power business – known as Clipper Windpower – to a private equity firm in Los Angeles, Platinum Equity. Details were not released.

In March, UTC said it would sell some companies – including Clipper – to cover expenses associated with the purchase of Goodrich.

As many critics of recent government, in support of alternative energy solutions, have claimed, UTC CFO, Greg Hayes said the alternative energy business “has stalled,” according to The Associated Press (News - Alert).


Even for the more successful firms in the sector, competition can be tough.

“Clipper and its 2.5MW Liberty turbine have struggled to make an impact in a market dominated by pure-wind rivals such as Vestas, and global industrial groups such as GE and Siemens (News - Alert),” according to a report on the deal from Recharge News.

Yet, Clipper could have a “viable future” with a new owner, UTC said in March.

Clipper Windpower makes wind turbines and undertakes wind project development. Clipper designs advanced wind turbines, makes the 2.5 MW Liberty wind turbine, and develops wind power projects in North and South America and Europe.

Clipper was part of UTC’s Pratt & Whitney Power Systems. UTC also owns Rocketdyne.

United Technologies purchased Clipper in 2010 for $382 million, The AP said. UTC purchased Goodrich for $18.4 billion.




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Edited by Brooke Neuman

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