SOURCE: Solar Wind Energy Tower, Inc.

September 11, 2014 08:30 ET

Solar Wind Energy Tower Receives City Council Approval for Industrial Zoning of 640 Acre Tower Site in San Luis, Arizona

Company Remains on Target to Break Ground in 2015; 2,250 Feet High Downdraft Tower Could Be Operational by 2018

ANNAPOLIS, MD--(Marketwired - Sep 11, 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 yesterday evening, the City Council of San Luis, Arizona voted unanimously to approve "industrial" zoning for the 640 acres in keeping with the Development and Protected Development Rights Agreement signed on April 28, 2014. The Development and Protected Development Rights Agreement guaranteed the necessary local entitlements for development of the Company's first Tower in the City of San Luis, AZ. 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 in 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.

"While this milestone has been expected for some time, having the approval of the City Council of San Luis, Arizona on the zoning of the site puts us one step closer to breaking ground on our first Tower project targeted for sometime in late 2015," stated Ron Pickett, CEO of Solar Wind Energy Tower, Inc. "With this process behind us, we can now continue to push full speed ahead and into advanced discussions with power purchasers to secure the necessary Power Purchase Agreements (PPA's) prior to development (a condition of the agreement with our financing partner, National Standard Finance, LLC), as well as into talks with potential development partners and licensers to bring our clean energy Towers to communities across the globe."

The Company's standard international business model is now and will continue to be the licensing of its patented process and know-how to developers around the world. The first Tower project in San Luis, Arizona is designed to become a standard of highly efficient, affordable, renewable energy production moving forward.

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