SOURCE: Solar Wind Energy Tower, Inc.

October 15, 2014 11:52 ET

Solar Wind Energy Tower, Inc. Solar Wind Downdraft Tower Project Briefing Conference Call Scheduled For October 29, 2014

ANNAPOLIS, MD--(Marketwired - Oct 15, 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 a Solar Wind Downdraft Tower Project Briefing will be conducted on Wednesday, October 29 at 4:15pm, Eastern Time. The call will be open to the public and hosted by the Company's CEO Ronald Pickett, who will provide an update on the Company's progress and facilitate a Q&A session. 

Ronald Pickett, CEO, Solar Wind Energy Tower, Inc. commented, "It has been our experience that these Tower Project briefings are an effective way to communicate news to our shareholders and I look forward to the Q&A segment of the call."

First Tower Project San Luis, Arizona
On September 10th, 2014, the City Council of San Luis, Arizona voted unanimously to approve the "industrial" zoning of the 640 acres -- in keeping with the Development and Protected Development Rights Agreement signed on April 28, 2014 -- which guaranteed the necessary local entitlements for the development of the Company's first Tower in the City of San Luis, Arizona on the site under contract. Having this agreement in place accelerates development enabling the project to begin as early as 2015 and begin producing electricity as early as 2018.

The Company's Tower site encompasses over 600 acres of land within the City of San Luis, Arizona, which has now been approved for industrial zoning. 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 Tower project. (Further details on the call.)

Update on Mexico
The Company is aggressively pursuing a potential second Tower project in Mexico, signing a "Letter of Understanding" with a private land owner for a 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 covers specific purchase terms and 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.

Update on Project Development Financing (Outlined on the call) 

Department of Defense Targeted for Power Purchase Agreements
The Company is pursuing certain potential Power Purchase Agreements (PPAs) with the U.S. Department of Defense, and has engaged the services of Santiago 'Rico' Vaca, the founder and senior principal at S Vaca & Associates L.L.C., a firm specializing in defense and national security, to guide and represent the Company in its pursuit of that key objective.

Update on PPA's. (Outlined on the call)

Conference Call Dial-In Instructions:
To participate in this event, dial: 877-709-8150 domestically, or 201-689-8354 internationally approximately five to ten minutes before the call. 

Replay the Call Online
Additionally, the conference call recording will be available for replay at beginning on Thursday October 30, 2014. 

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." 

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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).

Contact Information

  • Contact:
    Solar Wind Energy, Inc.
    1997 Annapolis Exchange Parkway Suite 300
    Annapolis, Maryland 21401
    Phone: 410-972-4713