A project to build a 10 MW wind turbine in Newcastle, England, has been canceled, the Financial Times reports. Clipper Windpower, a subsidiary of United Technologies Corp. (UTC), was planning to develop the turbines for the Crown Estate's Britannia project.
UTC terminated the project, citing ‘unprecedented global financial challenges which continue to impact the global economy, including wind energy development,’ according to the Financial Times.
The Crown Estate says that UTC has returned the 1.6 million pound investment plus value added tax due under a termination agreement.
