Solar Wind Energy Tower, Inc. (the "Company"), the inventor of large Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity, today is pleased to announce that the Company is aggressively pursuing a potential second Tower project in Mexico, signing a "Letter of Understanding" with the private land owner for a 505 hectares (approximately 1,250 acres) site in San Luis Rio Colorado, Sonora near its first tower site in San Luis, Arizona.
The Company's executed "Letter of Understanding" with the private land owner calls for definitive documents covering specific purchase terms and is subject to two conditions. The site is large enough and configured in such a way that it could ultimately accommodate two Towers should the demand for power from a second Tower materialize.
After reviewing and evaluating several potential sites in Sonora, Mexico over the last two years, the Company has selected a site in San Luis Rio Colorado, Sonora. The potential second Tower site is characterized by the same climate and atmospheric conditions as its first Tower in San Luis, Arizona. No difference in the design of the second Tower is anticipated.
Ron Pickett, CEO of Solar Wind Energy Tower, commented: "Having evaluated several sites in Mexico in the past, we conceded that development in the San Luis, Sonora area, although an ideal location would require a significant lead time. Recently announced energy policies and alternative energy goals set by Mexico have caused us to rethink that concession and refocus attention back to the region."
He continued, "Following a number of recent trips I've made to Mexico, including one to Mexico City to understand the status of recent energy policy developments by the Government of Mexico and CFE (Comision Federal de Electricidad), it's clear that there is significant, immediate opportunity for us to develop alternative energy sources for this region. Solar Wind Energy Tower has a solution designed for this location and has garnered respect from San Luis Rio Colorado, Sonora, due in part to recent agreements with the sister city- San Luis, Arizona."
The Company has received numerous inquiries relating to potential business development activities in Mexico. This announcement puts the Company on record that its development plans have accelerated in Mexico, and management is in fact pursuing a development opportunity.