United Technologies Corp. is looking to sell power generation assets within its Pratt and Whitney subsidiary in a deal that could fetch around $1 billion, according to three people familiar with the matter.

The business, called Pratt & Whitney Power Systems, manufactures industrial gas turbines and geothermal power systems based on Pratt & Whitney's aircraft engine technology, and helps generate electricity for businesses and cities.

Deutsche Bank AG is advising United Technologies on the potential divestiture, one of the people said.

All the people asked not to be named because they were not authorized to speak publicly about the matter. A United Technologies spokesman declined to comment and Deutsche Bank declined to comment.