Tieke Rail announced on December 12 that Tecco Tianjin, a wholly-owned subsidiary, plans to sign the “Energy Management Agreement for the 1.75MW Distributed Photovoltaic Power Generation Project of Tieke Technology Co., Ltd.” Tieke Tianjin will provide warehouse roofs in the factory area, and China Railway New Energy will undertake the construction, investment, operation and maintenance of rooftop photovoltaic power plants. After the completion of the project, Tieke Tianjin will settle with China Railway New Energy Company using a 25% discount on the 10kV industrial weighted average electricity price purchased by the applicable power grid company during the photovoltaic power generation period, giving priority to using all the electricity generated by the project's photovoltaics, while enjoying the ownership and benefits of carbon emission reduction during the operation period of the project; China Railway New Energy Company will enjoy ownership of the photovoltaic power plant during the operation period of the project, the cost of photovoltaic power generation paid by Tieke Tianjin, as well as surplus electricity revenue and government subsidies generated by the feed-in photovoltaic power plant. The project operation period is 25 years from the date the full capacity of the power plant is connected to the grid for power generation. After the project is put into operation, it is expected to save about 576,400 yuan in electricity costs every year, and a total savings of about 14.41 million yuan in electricity costs over 25 years.

Tieke Rail announced on December 12 that Tecco Tianjin, a wholly-owned subsidiary, plans to sign the “Energy Management Agreement for the 1.75MW Distributed Photovoltaic Power Generation Project of Tieke Technology Co., Ltd.” Tieke Tianjin will provide warehouse roofs in the factory area, and China Railway New Energy will undertake the construction, investment, operation and maintenance of rooftop photovoltaic power plants. After the completion of the project, Tieke Tianjin will settle with China Railway New Energy Company using a 25% discount on the 10kV industrial weighted average electricity price purchased by the applicable power grid company during the photovoltaic power generation period, giving priority to using all the electricity generated by the project's photovoltaics, while enjoying the ownership and benefits of carbon emission reduction during the operation period of the project; China Railway New Energy Company will enjoy ownership of the photovoltaic power plant during the operation period of the project, the cost of photovoltaic power generation paid by Tieke Tianjin, as well as surplus electricity revenue and government subsidies generated by the feed-in photovoltaic power plant. The project operation period is 25 years from the date the full capacity of the power plant is connected to the grid for power generation. After the project is put into operation, it is expected to save about 576,400 yuan in electricity costs every year, and a total savings of about 14.41 million yuan in electricity costs over 25 years.