Solar Wind Energy Tower, Inc. Innovative Design and Construction Methods Reduces Capital Costs And Improves Financial Performance of Downdraft Tower
ANNAPOLIS, Md., April 4, 2013 /PRNewswire/ – Solar Wind Energy Tower, Inc. (OTCQB: SWET), (the “Company”) announced today that the Company has successfully managed to economize the Tower by reducing expected capital costs and improving projected financial performance. Some of the best consultants in the world have been working diligently towards bringing the first Downdraft Tower to market.
The Company recently announced the completion of weather data models that confirm the first tower height was lowered from 3,000 feet down to 2,250 feet. Reducing the Downdraft Tower’s height and shape enables the structure to be built much more affordably using the newest formulations of industrial concrete. The benefits of concrete translate into dramatic savings in a number of areas. Concrete is less expensive that steel and is readily available around the world. The newest concrete construction methods enable the concrete to be mixed at ground level and pumped to every level under construction and poured in place. This construction method is much faster than building pre-cast sections on the ground and transporting each section to the required level. The time to construct each tower is dramatically reduced along with the cost of construction.
This development was made possible by utilizing our recently announced software which can calculate and predict energy production by our Solar Wind Downdraft Towers given local weather data. By feeding the weather data for southwestern Arizona/ Northern Mexico into the program, the Tower’s height and diameter was adjusted along with the amount of water added as fuel to create a desired amount of energy. The outcome dictated the optimum size of the Towers height and width. Solar Wind Energy can now evaluate potential Tower sites around the world and calculate and predict the shape and size of the Tower and the amount of electricity that can be produced in any region. Multiple Towers can be deployed in “Compounds” using the same cranes, water source, delivery, manufacturing and construction systems and labor forces.
Under the most recent design specifications, the first San Luis Tower is expected produce abundant, inexpensive electricity with a design capacity on an hourly basis, of up to 1,250 megawatt hours, gross. Using a 60% capacity factor, we expect the Tower’s potential hourly yield equates to 600 megawatt hours, from which approximately 18.5% will be used to power its operations, yielding approximately 500 megawatt hours available for sale to the power grid. Factoring in lower capacities during winter days, the average daily output for sale to the grid for the entire year is approximately 435 megawatt hours per day. Currently in California avoided costs are running approximately $0.11 per kilowatt hour. As an independent power producer of clean renewable energy, the Company will be selling power directly to the power grid rather than directly to consumers.
About Solar Wind Energy, Inc.
Solar Wind Energy, Inc. (Solar Wind Energy), a wholly owned subsidiary of Solar Wind Energy Tower, Inc., was established to commercialize a number of proven, validated technologies and construction systems into a single large Solar Wind Downdraft Tower structure that produces abundant, inexpensive electricity. Our Company’s core objective and focus is to become a leading provider of clean, efficient green energy to the world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions for tomorrow’s electrical power needs.
Innovative Renewable Hybrid Solar / Wind Energy Technology
We view ourselves as a hybrid solar/wind technology, reflected in the name, Solar Wind Energy Tower, Inc. The simplicity of our solution is comprised of harnessing the natural power of a downdraft created within the confines of our Solar Wind Downdraft 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 and is diverted into wind tunnels surrounding the base of the Tower where turbines inside the tunnels power generators to produce electricity.
In addition to constructing Solar Wind Downdraft Towers in the United States and abroad, the Company intends to establish partnerships at home and abroad to propagate these systems and meet increasing global demand for electricity. Solar Wind Energy has assembled a team of experienced business professionals, engineering and scientific consultants with the proven ability to bring the idea to market. Solar Wind Energy has filed and been issued patents that the Company believes will further enhance this potentially revolutionary technology. Solar Wind Energy, Inc. is based in Annapolis, MD, and is traded on the OTCQB under the symbol ‘SWET’. For more information visit www.solarwindenergytower.com
Solar Wind Energy, Inc.
1997 Annapolis Exchange Parkway
Annapolis, Maryland 21401
Phone: (310) 497 8817
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).
SOURCE Solar Wind Energy Tower, Inc.