United Technologies Corp (UTC) has entered into an agreement to acquire California-based wind turbine manufacturer Clipper Windpower.

Last year, UTC made its first investment in Clipper by paying £126m for a 49.9% interest in the company and will now buy the remaining shares of Clipper for approximately £70m.

The acquisition will be implemented by way of a court-approved scheme of arrangement under the UK Companies Act 2006, and remains subject to customary closing conditions and the approval of Clipper’s shareholders, UTC said.

Connecticut-based UTC is a diversified company that provides a range of high technology products and support services to the building systems and aerospace industries.