CITIZEN POWER ALLIANCE

The Hartford, Conn.-based industrial conglomerate, seeing a murky future in space travel and alternative energy, said it will sell Pratt & Whitney Rocketdyne, Clipper Windpower and its three industrial businesses at its Hamilton Sundstrand aerospace components manufacturer. It expects to raise $3 billion from the sales to finance its biggest acquisition ever….

He added that selling Clipper was not a difficult decision because the alternative energy business has stalled. “We’ve gone into this business with the thought that there was going be a renewable energy mandate in this country and there has not been one,” Hayes said.

That’s a reversal from comments to analysts last year that United Technologies’ $382 million purchase of Clipper Windpower in 2010 would help it capitalize on a global market it valued at $60 billion.

Drexel Hamilton analyst Rick Whittington gave a mixed review to the sales. He said “good riddance” to Rocketdyne, which represents the “end of an era” in space travel. And he called Clipper a “misbegotten acquisition.”

United Technologies Seeks Sale of Clipper Windpower Turbine Unit

United Technologies bought the 51 percent of Clipper it didn’t already own for $222 million in October 2010, after reduced orders left the wind company struggling to finance operations.

Clipper abandoned plans in August to build the world’s largest turbine, the 10-megawatt offshore Brittania model to focus on land-based products.

United Technologies is classifying Clipper as a discontinued operation. The wind unit declined to comment.