United Technologies Buys Wind Turbine Maker

At a time of heavy activity in the wind industry, United Technologies said it closed a deal to acquire a 49.5 percent stake in wind turbine manufacturer Clipper Windpower PLC.

HARTFORD, Conn. (AP) -- United Technologies said Wednesday that it closed on its deal to acquire a 49.5 percent stake in a California wind turbine manufacturer.

Terms of the deal for Clipper Windpower PLC weren't released. The acquisition comes at a time of heavy activity in the wind industry.

Earlier this month, President Barack Obama announced $2.3 billion in tax credits to create some 17,000 "green" jobs in the U.S. That money is being divided among solar, wind and energy management companies, and some manufacturers are jockeying to take advantage, both here and in other countries like China.

Utilities that will likely be required to lower emissions blamed for greenhouse gases have also been stepping up purchaes.

Late last year, Maryland's Constellation Energy announced that it would buy and develop a $140 million wind project from Clipper.

China is also cutting deals in the U.S. and U.S. companies are active in China as that country aggressively pursues alternative energy.

Shares of United Technologies Corp. rose 49 cents, or 0.68 percent, to $72.23.

More in Supply Chain