Solar Wind Energy Tower, Inc. Obtains Conditional Financing Commitment for …

May 6, 2014 by  
Filed under Green Energy News

ANNAPOLIS, MD, May 05, 2014 (Marketwired via COMTEX) –
Solar Wind Energy Tower, Inc. (otcqb:SWET), (the “Company”), the
inventor of large Solar Wind Downdraft Tower structures capable of
producing abundant, inexpensive electricity, announced today that
after many months of working together to develop a world-class solar
project in San Luis, Arizona that National Standard Finance, LLC, has
conditionally agreed to joint venture with Solar Wind Energy Tower,
Inc. to be the lead investor and co-owner in the recently announced
Solar Wind Energy Tower project in San Luis, Arizona.

National Standard is a leading independent, globally-integrated
infrastructure based long term investor, owner and structured asset
leasing firm. The firm develops, finances, acquires and own essential
social and economic infrastructure assets and real estate. National
Standard and its investments are capitalized by leading world-class
institutional investors and financial institutions seeking long term
asset based investments.

Under the proposed terms, National Standard would fund the purchase
of the required renewable energy equipment and power station as well
as pay for related development costs to become operational. National
Standard will lease the equipment to Solar Wind Energy Tower, Inc.
for a 20 year term. National Standard has developed with Solar Wind
Energy Tower a financial plan that details the steps, conditions and
requirements necessary to satisfy National Standard’s investment
requirements for this project. These requirements relate to customary
construction risks, operational risks and performance guarantees
related to the sale of power long term to qualified buyers. Solar
Wind Energy Tower is currently in negotiations to provide these
milestones and project deliverables to advance the projects progress
towards closing on the investment capital and lease. A definitive
agreement has not yet been finalized between the parties.

Carl Johnson, Managing Director at National Standard, commented, “We
have been working with and advising Solar Wind Energy Tower, Inc. for
some time now, and we are thrilled with the most recent developments
to secure the site and guarantee the necessary local entitlements to
make this project a reality.”

Jan Petrenko, Principal and Head of National Standard’s Energy Group
commented, “National Standard is proud to be a part of the team to
make this innovative game changing solution a reality that is unique
in the renewable energy market”.

Ronald Pickett, CEO, Solar Wind Energy Tower Inc. stated, “The entire
team at National Standard has been extremely helpful throughout this
process and provided innovative guidance to developing this project
most effectively. We certainly value their advice and look forward to
completing and satisfying the requirements to complete this renewable
energy investment. We share their enthusiasm and salute their
development efforts with us. The entire corporate Solar Wind Energy
team along with our ‘Teaming Partners’ is working together to bring
this solution to market”.

On April 11, 2014 the Company executed an option agreement to
purchase a site encompassing over 600 acres of land within the City
of San Luis, Arizona, which was later was recorded in Yuma County,
Arizona. On April 23, 2014, the City Council of San Luis, Arizona
approved moving forward with a “Development and Protected Development
Rights Agreement” which would facilitate the development of the Solar
Wind Energy Tower Project in San Luis.

On the evening of April 23, 2014, the City Council of San Luis,
Arizona unanimously approved a “Development and Protected Development
Rights Agreement” which guarantees the necessary local entitlements
for development of the first Solar Wind Downdraft Tower in the City
of San Luis, AZ. on the site under contract as announced last week.
Having this agreement in place accelerates development enabling the
project to produce electricity as early as 2018. The agreement was
executed at the Council meeting by San Luis Mayor Gerardo Sanchez and
Solar Wind Energy Tower CEO Ron Pickett.

About National Standard Finance LLC
National Standard is a leading
independent, globally-integrated asset based long term investor. We
develop, finance, acquire and own essential social and economic
infrastructure assets and real estate. The firm develops and finances
infrastructure and real estate assets by bridging the gap between the
public authorities’ financing requirements and their need to deliver
long-term infrastructure assets and services, with the expertise and
efficiencies provided by private sector developers and private
capital. A strategic player in global infrastructure markets and
sovereign based investing, National Standard partners with sovereign,
sub-sovereign and local governments, private developers and
like-minded corporations to help design infrastructure development
and capital programs. Our relationships with leading Sovereign Wealth
Funds, government finance agencies and institutional investors create
a multi-national syndicate dedicated to financing and owning critical
infrastructure around the world. The firm may also act as a Foreign
Direct Investor supplying new capital and local opportunity in
foreign markets. The firm’s investments are long term in nature
(20-30 years), ranging in size from $20 Million to more than $500
Million and seek predictable long term cash flows. Each investment is
managed as part of the firm’s portfolio management strategy. San
Francisco, CA Office: 100 Pine Street- 12th Floor- San Francisco, CA

About Solar Wind Energy Tower, Inc.
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 secured the site for its first tower project in the
U.S. in the City of San Luis, Arizona and may have its first Tower
ready for operation there as soon as 2018. Aside from the development
of this Tower, the Company is focused on licensing its development
know-how and establishing partnerships at home and abroad to
propagate Tower projects and in turn, receive 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 the 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, Inc.,
based in Annapolis, MD, is traded on the OTCQB under the symbol
‘SWET’. For more information visit

Innovative Renewable Hybrid Solar / Wind Energy Technology
simplicity of the Company’s hybrid solar/wind technology solution is
found in its ability to harness the natural power of a downdraft
created within the confines of its Tower structure, a hollow cylinder
reaching skyward into the hot, dry atmosphere heated by the solar
rays of the sun. The water introduced by the injection system near
the top of the Tower evaporates and is absorbed by the hot, dry air.
The air becomes cooler, denser and heavier than the outside warmer
air and falls through the cylinder at speeds up to and in excess of
50 mph. The air is then diverted into wind tunnels surrounding the
base of the Tower where turbines inside the tunnels power generators
to produce electricity.

The Company has successfully managed to economize the Tower, reducing
capital costs and improving projected financial performance. This
development was made possible by utilizing the Company’s Energy
Generation Calculator software, which can calculate and predict
energy production of a Tower given a site’s local weather data. By
feeding the weather data into the program, the Tower’s height and
diameter can be adjusted along with the amount of water added as fuel
to create a desired amount of energy. The outcome dictates the
optimum size of the Tower’s height and width. 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. Due to lower capacities during winter days, the average hourly
output per day for sale to the grid for the entire year is
approximately 435 megawatt hours/hr.

Cautionary Note Regarding Forward-Looking 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
        Phone: 410-972-4713

SOURCE: Solar Wind Energy Tower, Inc.

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