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 the following business update.
The Company has been working diligently with its consultants to determine the final design for the Arizona project. Previously the Company announced that the number and length of the wind tunnels surrounding the base of the Tower had been reduced from 60 tunnels of 300' length down to 40 tunnels of 150' length and that the number of turbines in each tunnel had been increased from 2 to 3. This final tunnel/turbine design decision predicts a significant increase in annual energy output in total Megawatt Hours available to sell.
The next design challenge was to evaluate the impact on power output if the height and/or diameter of the Tower were decreased which would lower the overall cost of the project as well as shorten the construction time. After running many iterations of changes in heights and diameters and comparing the results with the financial benefits of capital costs and potential revenue models, the Company has concluded that the best overall design is for the Tower to remain at 2250' in height with no changes in diameter feeding 40 tunnels with three turbines in each tunnel.
The Company has begun working with its contractor/consultant to revise the construction budget and believes that any potential cost increased from the original estimates should be offset by the cost savings expected from reducing the overall tunnel lengths from 18,000' down to 6,000'.
The Company has chosen to maintain the original size of the project and increase the energy output and thereby, potentially increasing sales from the increased megawatt production. As a result of these decisions, Arizona Green Power LLC has submitted an "Amended" Pre-Certification Application" to the California Energy Commission. The application seeks to increase the "Nameplate Capacity" (total generating ability) from 1230 MW to 1750 MW. This new capacity amounts to up to a 40% increase in output.
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.
For more information, please visit:
http://www.solarwindenergytower.com, and https://www.facebook.com/solarwindenergytower and https://twitter.com/SWETower and https://www.arizonagreenpower.com
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:
Solar Wind Energy Tower, Inc.
Phone: 410-972-4713
E-mail: info@SWETower.com
