I'm looking for a circuit that can clip the peaks of a sine wave source, typically the source is 40 V peak to peak and should be clipped at about 13.8 V.
This is not a particularly great idea, as you'll be wasting energy as heat - and that's a rather expensive energy, since it comes from an ICE.
A switching buck DC/DC converter would be ideal, but a linear regulator can do the job as well, while wasting less heat than a shunt would, especially at lighter loads (e.g. when the battery has charged up).
In essence, all you need is a linear regulator with reasonably low dropout, set to 13.8V. The circuit below does this:
simulate this circuit – Schematic created using CircuitLab
The voltage waveforms on named nodes are shown below.
The average power dissipated on the pass element and the Schottky series diode, with a 10 Ohm load, is a couple Watts total:
With two mosfets, rectification can be active, for lower dropout, but most likely this won't be of any advantage in this applicaiton:
simulate this circuit
A battery charger of this kind also requires active current limiting, to protect itself, the load, and the generator's winding from short circuits and overload.
The easiest way to get such protection is with a thermal circuit breaker. It could also be implemented electronically.
One way uses the series rectifier diode as a current sensor. A second, matched diode, running at a small constant current, needs to be thermally coupled to the rectifier diode. The difference between these voltages is a measure of the logarithm of the current ratio between the two diode.
Another approach is to use the Rds(on) resistance of the mosfet. This is straightforward when the mosfet is fully turned on. With two mosfets, we can decouple their control and use one as an ideal diode, acting as a current sensor when turned on, and the other as the pass element. The ideal diode doesn't require a heatsink, since it has negligible losses - this way it also stays at a temperature that's relatively independent of the load current. Then we don't need a third reference mosfet to establish Rds(on) scaling.