Sunil Hitech to implement 5 MW solar project

 Sunil Hitech Engineers Limited (SHEL), a company engaged in development of power and process industries is implementing 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.
The 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 March. This project is under execution in the state of Maharashtra.