ANNAPOLIS, MD, United States, via eTeligis Inc., 07/14/2014 - - 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 its subsidiary,Arizona Green Power LLC,(Greenpower) has entered into a Benefits and Services Agreement with Arizona Alternative Energy Center, LLC (AAEC).
Under the terms of the Benefits and Services Agreement,AAEC will raiseup to $100 Million Dollarsofdevelopment capital for the San Luis, AZ Tower Project through theFederal EB-5Visa Direct Investment Program which fuelshiring and economicgrowth in U.S. cities and in other counties.Greenpower will acquire the funding from AAEC in the form of afive year loan.
The United States Customs and Immigration Service (USCIS) administratesthe Immigrant Investor Program, also known as EB-5,whichwascreated by Congress to stimulate the U.S. economy through job creation and capital investment by foreign investors. Almost all EB-5 investments havebeen in massive Regional Center Projectsthatinvolve hundreds of foreign investors and scores of millions of dollars. AAEC is a USCISapprovedRegional Center (within the meaning of the EB-5 program) in Maricopa County, Arizona.
Aninvestment made by the foreign investormust create at least 10 new American jobs over a period oftwo years. If successful, the investor receives their permanent green card. The U.S. Citizenship and ImmigrationServicesets aside up to 10,000 visas for immigrants investing$500,000 or morein Targeted Employment Areas(TEA)to create new jobs in American businessesand enhance the economy inand aroundcities such as San Luis, Arizona.
Solar Wind Energy TowerCEO Ron Pickett commented on the transaction,This program is appealing on a number of levels. The funds are from private sourcesas investments and arenot government subsidies. These infrastructure investments stimulate rapid stabilizing economic growth within the cities and counties where they are focused. Under the EB-5 program International investors bring capital into a county or city creating more direct and indirect jobs, which creates increasedtax revenue.
AboutSolar 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, and the Energy Generation Calculator software which can calculate and predict energy production of a Tower given a site's local weather data. The Companysecured the sitefor its first Tower project in the U.S. in the City of San Luis, Arizona which may be ready for operation as soon as 2018. 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. The Company is also focused on licensing its development know-how and establishing partnerships at home and abroad to propagate Tower development projects in return for 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 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 Tower, Inc., based in Annapolis, MD, is traded on the OTCQB under the symbol 'SWET'.
For more information visithttp://www.solarwindenergytower.com,www.facebook.com/pages/Solar-Wind-Energy-Tower/andwww.twitter/SWETower.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 Companys 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 Companys financial results, can be found in the Companys various filings with the Securities and Exchange Commission (SEC).
Solar Wind Energy, Inc.
1997 Annapolis Exchange Parkway Suite 300
Annapolis, Maryland 21401
SOURCE: Solar Wind Energy Tower, Inc.