SOURCE: Solar Wind Energy Tower, Inc.

Solar Wind Energy Tower, Inc.

October 05, 2017 08:40 ET

Solar Wind Energy Tower, Inc. Receives Amended Precertification For the Arizona Project

ANNAPOLIS, MD--(Marketwired - Oct 5, 2017) - Solar Wind Energy Tower, Inc. (OTC PINK: SWET) (the "Company"), the innovator and creator behind the Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity to meet the world's increasing demand, announced today that it has been notified that the California Energy Commission has reviewed the application of the planned San Luis Energy Tower submitted on behalf of Arizona Green Power LLC and determined that it is eligible for RPS precertification under the criteria specified in the Renewables Portfolio Standard Eligibility Guidelines, Ninth Edition. The planned facility has an identified total nameplate capacity, measured in alternating current of 1750 MW and an anticipated commercial operations date of December 31, 2021.

The Company recently announced it had completed the final design specs for the project resulting in a significant increase in annual energy production. The project now estimates it will be able to produce 5,000,000 Megawatt Hours annually to supply to the grid versus the original estimate of 3,700,000 Megawatt Hours annually.

The final output estimates are the result of decreasing the number of wind tunnels and increasing the turbines in each tunnel from 2 to 3. Reducing the number of tunnels from 60 to 40 dramatically increased the wind velocities in each tunnel. As velocity doubles, the kinetic energy available is cubed. The increased energy available in each tunnel paved the way to add the third turbine. The Company has known the available energy created by the tower structure, but it was the interfacing of the meteorological data in the Tower with the aerospace/aerodynamics of the resulting wind in the tunnels modeled over the last 9 months that led to the final tunnel/turbine configuration to optimize the energy extraction.

The Company compliments the California Energy Commission for their expeditious review of our application. With the plant design parameters complete our contractors are engaged modifying the original construction cost estimates and the construction time line. The goal now is to position the Company to re-start discussions for power purchase agreements. The Company continues to work with potential investors/bankers to capitalize the budget to bring the project to construction ready ground breaking.

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.

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.

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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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