Solar Wind Energy Tower, the inventor of large Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity, today issued an update on the development of its tower projects in Arizona, Mexico, and Chile.
Latest discussions with the Company's lender are moving towards 85% financing with much more favorable terms, including a lower interest rate. As announced last year, the Company is pursuing EB-5 financing as part of the capital stack which could enable the project to avail itself of the 85% construction / permanent financing program.
Recently an independent renowned economist completed an "Economic Impacts" report of the Company's Arizona Tower project. The report concludes that the impact of the project using IMPLAN guidelines is 19,588 jobs, $1 billion of labor income, $1.673 billion in value added contributions to the Gross Regional Product, and $2.8 billion in industry output or revenues within the study region. Following this report, a formal Business Plan was completed supporting $200 million EB-5 of financing.
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Download free sample pagesRon Pickett, CEO of Solar Wind Energy Tower, stated, "Management is vigorously pursuing the development activities necessary to make our first Tower Project a reality. We are aggressively pursuing Power Purchase Agreements and following up with timely responses as necessary. Moreover, we are now pursuing the required legal documentation to support the financing. This week our COO, Stephen Sadle and I will participate in a one day structured EB-5 seminar in Philadelphia to help in our endeavor."
Mr. Pickett added, "Every effort is being made to assemble all the pieces to develop our Tower projects and bring them to fruition. We are fully supporting all efforts being made on our project in Mexico, as well as providing support for our licensee in Chile and other potential global projects on the other side of the Atlantic. Rest assured, we'll provide a more in-depth update all projects as soon as we are able to."
Amsterdam, Netherlands
Apr 29 - 30, 2026
