A company which makes aerospace parts has announced that it’s sold a Santa Barbara County based wind power company.
United Technologies Corporation bought Carpinteria based Clipper Windpower in 2010 for more than 300 million dollars, betting that federal requirements for sustainable power would boost the alternative energy field.
However, the government never moved to require the increasing use of alternative energy, so the projected boom in the industry for wind turbines didn’t happen..
United Technologies sold the company to a private equity group called Platinum Equity LLC for an undisclosed amount of money this week.
United said this was part of several steps it was taking to sell non-core businesses, to help finance its $18 billion dollar purchase of the Goodrich Corporation.