Short-term squalls for wind turbine maker calmed by £139m buyout

UTC will gain control over the 50.1 per cent stake in Clipper it does not already own and will provide an additional loan facility to assist with cashflow ahead of the transaction.

Connecticut-based UTC will pay 65p a share, a 48 per cent premium over Clipper's closing price on September 17, the last business day before Clipper announced the approach.

"For Clipper right now this buyout by UTC is phenomenal. It gives them a significant cash injection to fight against some of its peers in this tough environment," said Libertas Capital analyst Titus Menzies.

Falling gas prices in the US and government austerity measures are likely to weigh on demand for wind energy in America over the coming years, analysts said.

But Mark Chaichian, Clipper's business development director, said he was confident the deal would make good sense for UTC in the long term.

"The outlook for the sector if you believe the markets is going to be a little rough in the short term," said Chaichian.

"The renewable sector as a whole is a pretty important agenda for government, and certainly in the US so this transaction will make a lot of sense for UTC on a three to five year view," he said.

Chiachain said Clipper would focus on developments in South America and Eastern Europe as well as in the US.

Last year UTC, which provides high-technology products and services to the building systems and aerospace industries, paid 166m for a 49.5 per cent stake in Clipper.