Company Signs LOU With Private Owner for 1,250 Acre Site in San Luis Rio Colorado, Sonora, Just a Few Miles From San Luis, AZ
ANNAPOLIS, MD–(Marketwired – Oct 2, 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 is pleased to announce that the Company is aggressively pursuing a potential second Tower project in Mexico, signing a “Letter of Understanding” with the private land owner for a 505 hectares (approximately 1,250 acres) site in San Luis Rio Colorado, Sonora near its first tower site in San Luis, Arizona.
The Company’s executed “Letter of Understanding” with the private land owner calls for definitive documents covering specific purchase terms and is subject to two conditions. The site 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.
After reviewing and evaluating several potential sites in Sonora, Mexico over the last two years, the Company has selected a site in San Luis Rio Colorado, Sonora. The potential second Tower site is characterized by the same climate and atmospheric conditions as its first Tower in San Luis, Arizona. No difference in the design of the second Tower is anticipated.
Ron Pickett, CEO of Solar Wind Energy Tower, commented: “Having evaluated several sites in Mexico in the past, we conceded that development in the San Luis, Sonora area, although an ideal location would require a significant lead time. Recently announced energy policies and alternative energy goals set by Mexico have caused us to rethink that concession and refocus attention back to the region.”
He continued, “Following a number of recent trips I’ve made to Mexico, including one to Mexico City to understand the status of recent energy policy developments by the Government of Mexico and CFE (Comision Federal de Electricidad), it’s clear that there is significant, immediate opportunity for us to develop alternative energy sources for this region. Solar Wind Energy Tower has a solution designed for this location and has garnered respect from San Luis Rio Colorado, Sonora, due in part to recent agreements with the sister city- San Luis, Arizona.”
The Company has received numerous inquiries relating to potential business development activities in Mexico. This announcement puts the Company on record that its development plans have accelerated in Mexico, and management is in fact pursuing a development opportunity.
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’.
For more information visit http://www.solarwindenergytower.com, www.facebook.com/pages/Solar-Wind-Energy-Tower-Inc/515223728536798and https://twitter.com/SWETower.
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).