US high-tech company United Technologies Corporation (UTC) has agreed a cash deal to acquire troubled California-based wind turbine manufacturer Clipper Windpower.
UTC already holds a 49.9% stake in Clipper, but will now acquire the remaining shares of the company worth around £70 million.
The acquisition will create long-term financial stability for Clipper, while adding Clipper’s expertise in wind blades, turbines and gearboxes to UTC’s portfolio of energy efficiency products and power generation systems.
“In the context of the challenging environment that Clipper has faced in recent years, we believe that the transaction represents good value for our shareholders and provides substantial benefits for our customers and employees,” says Clipper president and CEO Mauricio Quintana.
Meanwhile, Swedish energy company Vattenfall has dropped plans to extend its recently opened Thanet wind farm off the UK’s Kent coast, according to reports.
Vattenfall had applied earlier in the year to the Crown Estate, which manages the UK’s coastline, to extend its 300 MW Thanet and nearby 90 MW Kentish Flats wind farms.
But the extension to Thanet is now unfeasible because of tight timescales and access to the grid, according to the company. However, Vattenfall will apparently press ahead with plans to increase capacity at the Kentish Flats development.
The company has also announced its intension to strengthen its position in France, where it says it is preparing to tender for new hydropower concessions next year.
Another Swedish wind developer, O2 Vindkompaniet, has been given the go ahead to start construction on a 30 turbine development at Glöte rind in Härjedalen, which will generate around 270 GWh annually – enough to power 60,000 households.
Construction will begin next year and the company has plans for a further seven wind farms next year with an additional nine projects awaiting planning permission.