Yes it does. And that amount of HEAT absorbed (not released) is finite and limited. SWET claims about 100 times the amount that is available which is a lie manufactured to lure the naive.
I have always said this would work and generate Power but according to the specs provided by Pickett and utilizing limiting Carnot and mechanical efficiences, it can only be about 10-20MW, less parasitic losses, continuous and not the 500MW claimed.
At 10MW it is PROHIBITIVELY EXPENSIVE. Todays standard solar panels cost far less.
BTW...not all colder air sinks. It is density that counts, not just temperature. This is yet another issue that Picket conveniently neglects in his equations.
I have no humble opinions, but I do have opinions and those are what I express in my posts. BUT...I have been wrong before and likely will be wrong again so do your own research and don't blame me if you are too lazy to do so.