Solar Wind Energy Tower, Inc. Receives Letter of Interest
ANNAPOLIS, Md., Nov. 05, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Solar Wind Energy Tower, Inc. (USOTC: SWET)(the “Company”), the innovator and creator of Solar Wind Downdraft Tower structures capable of generating abundant, inexpensive electricity to meet growing global demand, announces that Arizona Green Power’s investment advisor, LLC (AGP) has secured a negotiated “Letter of Interest” agreement to secure the construction and 20-year long-term financing of the Downdraft Tower project in San Luis, Arizona.
The letter of interest includes contingencies. AGP and its investment advisor, Stevens Strategic Solutions, LLC (S3) are working together to address contingencies which include, among other things, securing investors the investment tax credit for the project for $250-300 million. The company previously announced that the project would be eligible for a capital contribution of approximately $350 million, for which investors can receive a credit of $350 million against their federal income tax due in the year of the project. investment.
Larry Stevens, Founder of S3, commented, “S3 is delighted to have worked with AGP and its team over the past few months. S3 has an extensive distinguished network of private equity firms, family agents and other joint venture partners who provide debt/equity solutions to our clients. S3 offers several alternative financing programs outside of the normal banking process that allow us to create various financing packages for customers. We have a keen interest in solar and alternative energy solutions and are excited to be part of the San Luis Energy Tower Project and hopefully many more tower projects to follow. The proof of concept recently demonstrated by the positive test results of the 400ft pilot tower greatly contributes and clearly validates the ability of the downdraft tower to produce abundant and inexpensive electricity.
About Solar Wind Energy Tower, Inc.
Founded in 2010, Solar Wind Energy Tower, Inc., and its wholly-owned marketing subsidiary, Solar Wind Energy, Inc., is the inventor of the patented Solar Wind Downdraft Tower, which uses technologies and construction systems from peak to produce abundant, inexpensive electricity, 24 hours a day, 7 days a week.
The company’s primary goal and direction is to become a leading enabler of clean and efficient renewable energy for global communities, at a reasonable cost, without the destructive residues of fossil fuels, while continuing to generate innovative technological solutions to meet the electrical energy needs of tomorrow.
For more information, please visit:
http://www.solarwindenergytower.comand https://www.facebook.com/solarwindenergytowerand https://twitter.com/SWETower and https://www.arizonagreenpower.com
Caution Regarding Forward-Looking Statements
Statements included in this release may constitute “forward-looking statements”. Actual results may differ materially from those projected in the forward-looking statements. These 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 to accurately estimate revenues, if any, in due to variability in the size, scope and duration of projects, and internal issues. at the sponsor client. Further information on potential factors that could affect the Company’s financial results is available in the Company’s various filings with the Securities and Exchange Commission (SEC).