Solar Wind Energy Tower, Provides Update on Mexico Tower Project

Solar Wind Energy Tower, the inventor of large Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity, today announced that its operating subsidiary, Solar Wind Energy, Inc. has executed an extension of its right to purchase a site in San Luis Rio Colorado, Sonora, Mexico, which will support up to two energy Towers. The Mexico site is located approximately 6 miles from the Tower site in San Luis, Arizona and experiences identical climate conditions allowing both to use the same development plans and equipment.

In order for the Tower(s) to be developed in Mexico, the national utility "Comision Federal de Electricidad" must sign a long term Power Purchase Agreement with the Company. Solar Wind Energy formally introduced the project to the commission and presented preliminary project data and specifications to the commission earlier this year. The seller of the land, anticipating an upcoming meeting to discuss the specifics of the project, offered a free contract extension through June 30, 2016 to close on the sale.

On June 30, 2015, the City of San Luis Rio Colorado supplied a support letter that extended their previous approvals to permit the project and supply the necessary water to the project for 50 years. The previous approvals were set to expire June 30, 2015 and have now been formally extended to June 30, 2016.

Ron Pickett, CEO of Solar Wind Energy Tower, commented, "On June 24th I personally met with the government liaison for the San Luis Rio Colorado project. In our meeting I was provided with a thorough project status update and an explanation that recent delays were unavoidably related to new energy policies and elections. After that meeting, it was clear that the Tower project remains viable in San Luis Rio Colorado. We're pleased to continue to move forward after receiving formal extensions from the property owner and local government. The date set for ground breaking if the utility decides to move forward is now June 30, 2016. We are encouraged by the cooperation of all concerned parties and look forward to securing the PPA needed to support the financing of this project."