Click here to close now.


News Feed Item

Solar Wind Energy Tower, Inc. Obtains Conditional Financing Commitment for First Solar Tower in Arizona

ANNAPOLIS, MD -- (Marketwired) -- 05/05/14 -- 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 94104

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, and www.twitter/

Innovative Renewable Hybrid Solar / Wind Energy Technology
The 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
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).

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at, explored the value of Kibana 4 for log analysis and provided a hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He examined three use cases: IT operations, business intelligence, and security and compliance. Asaf Yigal is co-founder and VP of Product at log analytics software company In the past, he was co-founder of social-trading platform Currensee, which...
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at, examined how Docker has evolved into a highly effective tool for application del...
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true ...
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
Internet of @ThingsExpo, taking place June 7-9, 2016 at Javits Center, New York City and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Y...
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, San...
As organizations shift towards IT-as-a-service models, the need for managing & protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection & E-Discovery of your data - whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving t...
There are over 120 breakout sessions in all, with Keynotes, General Sessions, and Power Panels adding to three days of incredibly rich presentations and content. Join @ThingsExpo conference chair Roger Strukhoff (@IoT2040), June 7-9, 2016 in New York City, for three days of intense 'Internet of Things' discussion and focus, including Big Data's indespensable role in IoT, Smart Grids and Industrial Internet of Things, Wearables and Consumer IoT, as well as (new) IoT's use in Vertical Markets.
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.