Greentech Lead America: Solar Wind Energy, a wholly owned subsidiary of Solar Wind Energy Tower, is collaborating with Providence Energy Corporation, a privately-owned company from Dallas, Texas, to develop the first Solar Wind Energy Downdraft Tower located in San Luis, Arizona on the US/Mexico border.
The Solar Wind Energy Downdraft Tower will provide clean renewable energy at a cost more favorable than nuclear plants with no negative impacts to our planet.
Under the most recent design specifications, the first San Luis Tower is expected to have a design capacity on an hourly basis, of up to 1,250 megawatt hours, gross. Using a 60 percent capacity factor, we expect the Tower’s potential hourly yield equates to 600 megawatt hours, from which approximately 18.5 percent will be used to power its operations, yielding approximately 500 megawatt hours available for sale to the power grid.
Factoring in lower capacities during winter days, the average daily output for sale to the grid for the entire year is approximately 435 megawatt hours per day.
As an independent power producer of clean renewable energy, the Company will be selling power directly to the power grid rather than directly to consumers.
Providence Energy is engaged in clean and environmentally friendly development of domestic oil and gas resources and has been investing in the generation of diversified sources of alternative energy for several years. Providence currently owns and manages over 4 million net mineral acres in 34 states with royalty and working interests in over 20,000 producing wells.
Providence is primarily focused on unconventional oil and gas formations and has a strong presence in nearly all major basins across the country, but has invested substantially renewables over the past decade. The company has both invested in the R&D of innovative green technologies and also been actively developing renewable generation projects across the Americas.
Ronald W. Pickett, CEO, said, “Providence Energy and their various subsidiaries have extensive experience and expertise in partnerships with energy exploration, production, generation companies, as well as renewables across the Americas. Providence Energy has taken a position in Solar Wind Energy Tower, and we welcome their expert development assistance in making our first Tower Project a reality.”
In addition to constructing Solar Wind Downdraft Towers in the United States and abroad, the Company intends to establish partnerships at home and abroad to propagate these systems and meet increasing global demand for electricity.