ANNAPOLIS, MD -- (Marketwire) -- 03/28/13 -- Solar Wind Energy Tower, Inc. (OTCQB: SWET) (the "Company") announced today that Solar Wind Energy is collaborating with Providence Energy Corporation, a privately-owned company from Dallas, Texas, on the development of the first Solar Wind Energy Downdraft Tower located in San Luis, Arizona on the US/Mexico border. The Solar Wind Energy Downdraft Tower will provide clean renewable energy at a cost more favorable than nuclear plants with no negative impacts to our planet.
Providence Energy is a nationally recognized leader in clean and environmentally friendly development of domestic oil and gas resources and has been investing in the generation of diversified sources of alternative energy for several years. Providence currently owns and manages over 4 million net mineral acres in 34 states with royalty and working interests in over 20,000 producing wells. Providence is primarily focused on unconventional oil and gas formations and has a strong presence in nearly all major basins across the country, but has invested substantially renewables over the past decade. The company has both invested in the R&D of innovative green technologies and also been actively developing renewable generation projects across the Americas.
Ronald W. Pickett, CEO, stated, "We have been in discussions with Providence Energy for several months about the development of our first Downdraft Energy Tower project in Arizona. Providence Energy and their various subsidiaries have extensive experience and expertise in partnerships with energy exploration, production, generation companies, as well as renewables across the Americas. Providence Energy has taken a position in Solar Wind Energy Tower, Inc., and we welcome their expert development assistance in making our first Tower Project a reality."
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.
Most Popular Stories
- Boehner Lashes Out Against Ted Cruz, Far Right
- TFA Recruiting DACA Recipients
- Hawaii Official Who Release Obama Certificate Only Victim of Plane Crash
- Holiday Shopping Off to a Slow Start This Season
- Ford Plans New Cars, Jobs in 2014
- Gold, Silver Slide on Prospects of Fed Exit
- 'Rape Insurance' Bill Passes in Michigan
- Ted Cruz Coloring Book Selling Briskly
- Kim Jong Un's Uncle Executed
- Scotch Whisky Sales Raise Distillers' Spirits