ANNAPOLIS, MD, United States, via ETELIGIS INC., 11/05/2014 – – 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 announced that the Company is fully engaged in the development of their second Tower project in San Luis Rio Colorado, Sonora, Mexico.
Early last month, the Company announced the acceleration of its development plans in Mexico and their aggressive pursuit of a development opportunity in the bordering country near its first Tower site in the sister city of San Luis, Arizona. The site in Mexico is large enough and configured in such a way that it could ultimately accommodate two Towers should the demand for power from a second Tower materialize.
As mentioned previously, the potential second Tower site in Mexico is characterized by the same climate and atmospheric conditions as the Company’s first Tower in San Luis, Arizona. No difference in the design of the second Tower is anticipated. The Company has worked very closely with San Luis Rio Colorado city officials who have committed to provide all of the necessary entitlements and water supply to operate the Tower and is assisting the Company in securing Power Purchase Agreements.
The Company conducted Solar Wind Downdraft Tower Project Briefing conference call on October 29, 2014 where significant interest and questions were generated about our accelerated development efforts in Mexico. For more information and to hear the replay of the conference call, please visit http://www.solarwindenergytower.com
Ron Pickett, CEO of Solar Wind Energy Tower, commented: “Unlike our International licensing business model where we facilitate Tower development, and in turn, receive development fees, licensing fees, and royalties on power sales from each project and/or ownership interests, we are pursuing an ownership role in this first project in Mexico.
The government of Mexico recently passed new energy policy laws targeting 30% alternative energy and encouraging CFE Comision Federal de Electricidad, the national electric company, to purchase the alternative energy from private developers. These new policy and regulatory changes create a significant, immediate opportunity for us to develop alternative energy sources for this region
We have discussed the project with our JV partner in San Luis, Arizona Tower Project, National Standard Finance, LLC, whom has a program suitable for the project in Mexico. Together we are currently exploring the various possibilities to make that happen and look forward to bringing this initiative fruition.”
About Solar Wind Energy Tower, Inc.:
Founded in 2010, 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, and the Energy Generation Calculator software which can calculate and predict energy production of a Tower given a site’s local weather data. The Company secured the site for its first Tower project in the U.S. in the City of San Luis, Arizona which may be ready for operation as soon as 2018. 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. The Company is also focused on licensing its development know-how and establishing partnerships at home and abroad to propagate Tower development projects in return for 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 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 Tower, Inc., based in Annapolis, MD, is traded on the OTCQB under the symbol “SWET’.
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).
Solar Wind Energy, Inc.
1997 Annapolis Exchange Parkway Suite 300
Annapolis, Maryland 21401
SOURCE: Solar Wind Energy Tower, Inc.