Coscharis announces $4b green power project in Nigeria

Coscharis Technologies Limited, a subsidiary of the Coscharis Group and a leading player in the Information Communication and Technology (ICT) sector in Nigeria has secured a $4 billion power project to revolutionise Nigeria’s energy landscape. This ground-breaking initiative, the largest of its kind in West Africa, will harness renewable energy sources to significantly reduce the country’s reliance on fossil fuels and contribute to sustainable development goals.

According to the Managing Director, Dr Sunday Mukoro, who was recently in Delhi, India to seal up this partnership collaboration, he highlighted that the project will primarily provide solar energy solutions to create environmentally friendly energy alternatives that align with global climate targets.

In his words, “These funds will be made available to Nigerian entrepreneurs and other business entities who are dedicated to operating their businesses with reliable power supply. Having a clear understanding of the critical role that power plays in driving business survival and growth, whether it’s in large enterprises or small and medium-sized businesses in Nigeria. This becomes a soft landing to these businesses to turn the power challenges to opportunities to grow their businesses seamlessly.”

Recognising the significance of power in bolstering the economy, Mukoro noted that Coscharis Technologies Ltd is determined to allocate the fund strategically. “Initially, the focus will be on government entities, private sectors including banks, manufacturing companies, and SMEs. Subsequently, the funds will also be accessible to individuals and residential communities. The project will be implemented with carefully crafted agreements outlining the payback period, marking a critical aspect of the initiative.”

Commenting on this groundbreaking achievement by Coscharis Technologies Limited, the President/CEO of Coscharis Group, Dr Cosmas Maduka, commended Mukoro and his team.

“This achievement for us as a group is to further confirm our commitment to delivering value for money to all our numerous stakeholders in all sectors where we play. The Coscharis Technology team led by Sunday has just proven with this initiative that they are the game changer in the ICT sector in Nigeria and the Sub-Sahara market to further delight our ever-dynamic customers in a dynamic IT business environment”, he said.