Coscharis Technologies Limited, a subsidiary of the Coscharis Group, has secured a $4 billion power project to revolutionise Nigeria’s energy landscape.
Managing Director, Coscharis Technologies Limited, Dr Sunday Mukoro, said the ground-breaking initiative, the largest of its kind in West Africa, would harness renewable energy sources to significantly reduce Nigeria’s reliance on fossil fuels and contribute to sustainable development goals.
According to him, the project will primarily provide solar energy solutions to create environmentally friendly energy alternatives that align with global climate targets
“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,” Mukoro, who was recently in Delhi, India to seal up the deal, said.
Recognising the significance of power in bolstering the economy, Mukoro noted that Coscharis Technologies is determined to allocate the funds strategically.
According to him, initially, the focus will be on government entities, private sector, including banks, manufacturing companies, and SMEs.
He added that 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,” Mukoro said.
President, Coscharis Group, Dr Cosmas Maduka commended Mukoro and his team for the ground-breaking initiative.
“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,” Maduka said.
He assured that Coscharis Technologies would work closely with international partners and local communities to ensure that the project is implemented in an environmentally and socially responsible manner.
He reiterated that the disbursement would be executed without undue involvement from the government or any other external parties.
Source: thenation
