United Technologies Corp- UTC has sold its stakes in Clipper Windpower to Platinum Equity, a private equity enterprise in LA, California.
The announcement, made today, did not disclose any financial details.
UTC, earlier this year had released a press brief stating it was planning to sell Clipper, due to the doldrums in global wind market, The incoming of chinese players and US wind PTC renewal uncertainities.
UTC had owned Clipper for less than two years, having completed the acquisition in two phases for a value of $385 million.
