Shares in Ocean Power Technologies Inc (LON:OPT) nudged up 1.4% to 350p on release of the company’s full year results this morning. OPT, which is behind systems that generate electricity from wave power, reported a 26% rise in revenues to $5.1m with net losses rising to $19.2m from $18.3m previously. Cash and cash equivalents stood at $66.9m in April. During the year the company deployed one of its PowerBuoy systems at the Marine Corps Base in Hawaii and continued to make progress on the construction of its first PB150 PowerBuoy - scheduled for in-ocean testing off the coast of Scotland in the second half of 2010. CEO, Charles Dunleavy, said the company was confident of its prospects for the year ahead and was excited about upcoming achievements that it expects to report on several fronts.

Elsewhere, Clipper Windpower (LON:CWP), the company that makes wind turbines, agreed a deal with its 49.9% majority shareholder United Technologies Corp (NYSE:UTX) that will see UTC guarantee Clipper’s Liberty wind turbine warranties for selected new business. UTC invested in Clipper in January this year and since then the companies have been building strong ties. The Liberty wind turbine warranty support from UTC is likely to provide increased confidence to customers and their project finance institutions that Clipper has the ability and credit strength to fulfil its contractual warranty commitments. As part of today’s agreement, the two sides have also entered into a formal intellectual property and technical assistance license agreement. Clipper is also set to work with UTC’s gas turbine arm, Pratt & Whitney Power Systems, to help expand the market reach and service capabilities for Clipper's 2.5 MW Liberty turbine. Shares in the company were trading 6.5% higher at 49p.

Indian Energy (LON:IEL), the independent power producer that owns and operates wind farms in India, has agreed a £2m loan facility with Utilico Emerging Markets Ltd, which already holds a 20.51% stake in the business. The funding will enable Indian Energy to secure options over further wind projects in India as part of its strategy of expanding its operating portfolio from its current 41.3 MW to 300 MW by the end of its 2012/2013 financial year. Separately, the company today announced its full year result, with revenues doubling to £2.21m and pre-tax losses of £2.16m, up from £1.41m last year. Shares in…

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