Solar Wind Energy Tower has announced that National Standard Finance, LLC, has conditionally agreed to joint venture with Solar Wind Energy Tower, Inc. to be the lead investor and co-owner in the recently announced Solar Wind Energy Tower project in San Luis, Arizona.
Under the proposed terms, National Standard would fund the purchase of the required renewable energy equipment and power station as well as pay for related development costs to become operational. National Standard will lease the equipment to Solar Wind Energy Tower, Inc. for a 20 year term. National Standard has developed with Solar Wind Energy Tower a financial plan that details the steps, conditions and requirements necessary to satisfy National Standard's investment requirements for this project. These requirements relate to customary construction risks, operational risks and performance guarantees related to the sale of power long term to qualified buyers. Solar Wind Energy Tower is currently in negotiations to provide these milestones and project deliverables to advance the projects progress towards closing on the investment capital and lease. A definitive agreement has not yet been finalised between the parties.
