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Stock impact report

China Recycling Energy Corp. Announces the Agreement of Intent with Qingzhou Taihuacheng to Build the Energy Storage Power Station

Smart Powerr Corp. (CREG) 
US:NASDAQ Investor Relations: creg-cn.com/en
Company Research Source: GlobeNewswire
Xian, China, March 28, 2019 (GLOBE NEWSWIRE) -- China Recycling Energy Corp. (NASDAQ: CREG; "CREG" or "the Company"), a leading industrial waste-to-energy solution provider in China, today announced that today, Shanghai TCH Energy Technology Co., Ltd. (“Shanghai TCH”), a wholly-owned subsidiary of the Company, entered into an Agreement of Intent with Qingzhou Taihuacheng Real Estate Development and Management Co., Ltd. (“Taihuacheng”) to build an energy storage power station with total capacity of 50 MWH.  According to the agreement of intent, we will build an energy storage power station for Taihuacheng to realize three functions of reliable electricity consumption, high quality electricity consumption and economical electricity consumption.Our energy storage power station uses the energy storage battery to charge power from the grid during peak-off hours and discharge to their electrical equipment during peak hours, so as to save the cost of electricity by taking advantage of t Show less Read more
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