- Published: 28 May 2014 28 May 2014
Solar Wind Energy Tower has announced that it has entered into a Memorandum of Understanding with Invest Africa, Inc. (IAI), a Florida corporation, for rights to license trade secrets, patents, and knowledge from Solar Wind Energy.
When both parties reach a definitive agreement IAI may use the rights to develop Solar Wind Energy Downdraft Towers in Namibia and Botswana, Africa. Under the definitive agreement Solar Wind Energy will provide technical support and personnel to advise and assist IAI in project development, design, procurement, construction and the operation of a Tower Facility. Solar Wind Energy will also assist IAI with the technical and feasibility studies as well as presentations necessary for proposals to the agreed upon nation's Government ministries and potential participants in the project(s). The Memorandum of Understanding outlines terms of the license fees for Namibia and Botswana, Africa, as well as specific recurring royalties and fees for each Tower Facility within the territory.