4/28/14 9:46 AM ET (Market Wire)
Solar Wind Energy Tower, Inc. (OTCQB: SWET) (the "Company"), the
inventor of large Solar Wind Downdraft Tower structures capable of
producing abundant, inexpensive electricity, today is pleased to
announce that on Wednesday, April 23, 2014, the City Council of San
Luis, Arizona, unanimously approved a "Development and Protected
Development Rights Agreement" which guarantees the necessary local
entitlements for development of the first Solar Wind Downdraft Tower
in the City of San Luis, AZ. on the site under contract as announced
last week. Having this agreement in place accelerates development
enabling the project to produce electricity as early as 2018. The
agreement was executed at the Council meeting by San Luis Mayor
Gerardo Sanchez and Solar Wind Energy Tower CEO Ron Pickett.
On April 11, 2014 the Company executed an option agreement to
purchase a site encompassing over 600 acres of land within the City
of San Luis, Arizona, which was recorded in Yuma County, Arizona.
The site is convenient to highways, rail service, public utilities,
as well as the electrical substation for the city of San Luis. The
water needed for operations of the Tower will be provided by the City
of San Luis at an agreed upon contract rate for a minimum period of
50 years. That combined with its convenience and ideal weather
conditions make this site a perfect location for the Company's first
Solar Wind Downdraft Tower.
Ron Pickett, CEO of Solar Wind Energy Tower, Inc. stated, "This is
the most significant event in the history of our Company. Together
with our expert Teaming Partners, we have devoted over three years to
the research and development of this 'Game-Changing' energy solution
and are thrilled to see our vision coming to fruition. This milestone
allows us to advance into definitive discussions with power
purchasers, potential joint venture partners, and financing sources
which will enable the Tower to be built on time and within budget."
Pickett added, "It gives us great pleasure to see Solar Wind Energy
Tower transitioning from a 'Development Stage' company to that of a
full scale 'Development' company. Together with our partners, we
remain committed to bringing our renewable energy Towers online in
the City of San Luis, other parts of the U.S. and worldwide to meet
increasing energy demands, all while reducing our carbon footprint,
creating jobs and contributing to local economies."
Although the Company's standard business model now and will continue
to be the licensing of its patented process and know-how to
developers around the world, management chose to devote significant
resources to guarantee that a site could be developed in the U.S. and
become a standard of highly efficient, affordable, renewable energy
production moving forward. Once all the component parts for a
successful first Tower Project in San Luis are in place, Solar Wind
Energy is confident that the door will swing wide open for additional
projects in the U.S. and around the globe."
About Solar Wind Energy Tower, Inc.
Solar Wind Energy Tower, Inc.,
and its wholly owned commercializing subsidiary, Solar Wind Energy,
Inc., is the inventor of the patented Solar Wind Downdraft Tower
which uses state of the art technologies and construction systems to
produce abundant, inexpensive electricity, 24 hours a day, 7 days a
week. The Company has secured the site for its first tower project in
the U.S. in the City of San Luis, Arizona and may have its first
Tower ready for operation there as soon as 2018. Aside from the
development of this Tower, the Company is focused on licensing its
development know-how and establishing partnerships at home and abroad
to propagate Tower projects and in turn, it will receive licensing
fees for territories, development fees during construction, and
recurring royalty fees based on the actual kilowatt hours produced by
the Tower. Solar Wind Energy has assembled a team of experienced
business professionals, engineering and scientific consultants with
the proven ability to bring this solution to market. The Company's
core objective and focus is to become a leading enabler of clean,
efficient renewable energy to the world communities, at a reasonable
cost, without the destructive residuals of fossil fuels, while
continuing to generate innovative technological solutions to meet
tomorrow's electrical power needs. Solar Wind Energy has filed and
been issued patents that the Company believes will further enhance
this potentially revolutionary technology. Solar Wind Energy, Inc.,
based in Annapolis, MD, is traded on the OTCQB under the symbol
'SWET'. For more information visit www.solarwindenergytower.com,
www.facebook.com/pages/Solar-Wind-Energy-Tower/ and
www.twitter/SWETower.com.
Innovative Renewable Hybrid Solar / Wind Energy Technology
The
simplicity of the Company's hybrid solar/wind technology solution is
found in its ability to harness the natural power of a downdraft
created within the confines of its Tower structure, a hollow cylinder
reaching skyward into the hot, dry atmosphere heated by the solar
rays of the sun. The water introduced by the injection system near
the top of the Tower evaporates and is absorbed by the hot, dry air.
The air becomes cooler, denser and heavier than the outside warmer
air and falls through the cylinder at speeds up to and in excess of
50 mph. The air is then diverted into wind tunnels surrounding the
base of the Tower where turbines inside the tunnels power generators
to produce electricity.
The Company has successfully managed to economize the Tower, reducing
capital costs and improving projected financial performance. This
development was made possible by utilizing the Company's Energy
Generation Calculator software, which can calculate and predict
energy production of a Tower given a site's local weather data. By
feeding the weather data into the program, the Tower's height and
diameter can be adjusted along with the amount of water added as fuel
to create a desired amount of energy. The outcome dictates the
optimum size of the Tower's height and width. Under the most recent
design specifications, the first Tower in San Luis, Arizona has a
design capacity on an hourly basis of up to 1,250 megawatt hours,
gross. Due to lower capacities during winter days, the average hourly
output per day for sale to the grid for the entire year is
approximately 435 megawatt hours.
Cautionary Note Regarding Forward-Looking Statements
Statements
included in this release may constitute "forward-looking statements".
Actual results may differ materially from those projected in
forward-looking statements. Such statements involve a number of risks
and uncertainties such as competitive factors, technological
development, market demand and the Company's ability to obtain new
contracts and accurately estimate revenues, if any, due to
variability in size, scope and duration of projects, and internal
issues in the sponsoring client. Further information on potential
factors that could affect the Company's financial results, can be
found in the Company's various filings with the Securities and
Exchange Commission (SEC).
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 | Contact: Solar Wind Energy, Inc. 1997 Annapolis Exchange Parkway Suite 300 Annapolis, Maryland 21401 Phone: 410-972-4713 E-mail: Info@swetower.com | |
SOURCE: Solar Wind Energy Tower, Inc.
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