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Sunil Hitech Engineers to implement 5-MW solar project in Maharashtra

India Blooms News Service | | Jul 16, 2014, at 12:09 am

#Sunil Hitch power project maharashtra

Kolkata, July 15 (IBNS) Sunil Hitech Engineers Limited (SHEL), a company engaged in development of power and process industries is implementing the 5-MW Solar Project in Maharashtra bagged under Jawaharlal Nehru National Solar Mission (JNNSM) Phase II Batch I on international bidding basis from Solar Energy Corporation of India (SECI) for 375 MW Solar PV projects in open category.

The company is now in the final stages of financial closure. The project is expected to complete by April, 2015, it said in a release,.

This 5-MW project has been awarded with a Highest Variable Grant Funding (VGF) of Rs 1.35 crore/MW, and fixed tariff of Rs 5.45/KWH fixed for the entire term of 25 years with effect from the scheduled date of commissioning. The total VGF for 5-MW will be Rs 6.75 crore. The VGF Agreement and the Power Purchase Agreement (PPA) have been signed with SECI in the month of March, 2014. This project is under execution in the state of Maharashtra.

Further, the company has been wait-listed for additional 15-MW to be awarded under the same scheme. This additional 5-MW will be with a VGF of Rs 1.35 crore/MW, and fixed tariff of Rs 5.45/KWH fixed for the entire term of 25 years with effect from the scheduled date of commissioning. The total VGF for 5-MW will be Rs 6.75 crore, while the additional 10-MW will have a VGF of Rs 1.44 crore/MW, and fixed tariff of Rs 5.45 /KWH fixed for the entire term of 25 years with effect from the scheduled date of commissioning. The total VGF for 10-MW will be Rs 14.40 crore. This above 15MW if awarded will be completed in 13 months from the date of signing of VGF and PPA Agreements.

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