Coscharis Technologies, a subsidiary of Coscharis Group, has announced its $4 billion solar power project, a major step towards transforming Nigeria’s energy landscape. The project, finalized in India, aims to promote sustainable energy solutions and contribute to Nigeria’s energy independence while addressing climate change.
Managing Director of Coscharis Technologies, Dr. Sunday Mukoro, expressed the significance of the initiative, stating, “This project will play a pivotal role in advancing Nigeria’s energy infrastructure while addressing climate change challenges.” He further explained that the funds from the project would be made available to Nigerian entrepreneurs and other business entities who are committed to operating their businesses with a reliable power supply.
Mukoro emphasized the critical role power plays in business survival and growth, especially for SMEs, manufacturing companies, and banks. “Having a clear understanding of the critical role that power plays in driving business survival and growth, whether it is in large enterprises or small and medium-sized businesses in Nigeria, this becomes a soft landing for these businesses to turn the power challenges into opportunities to grow their businesses seamlessly.”
The project is designed to initially focus on government institutions and the private sector, before expanding to individuals and residential communities. The initiative will be implemented through carefully crafted agreements outlining the payback period, ensuring smooth execution.
Coscharis Group CEO, Dr. Cosmas Maduka, praised Mukoro and his team for this landmark achievement, calling the project a “game changer” in both the ICT and energy sectors in Nigeria and the Sub-Saharan market. Maduka added, “This initiative demonstrates Coscharis Technology’s leadership and commitment to delivering value for money across the sectors we operate in.”
The project will also involve collaboration with international partners and local communities to ensure that it is environmentally and socially responsible. Coscharis Technologies assured that the disbursement of the funds would occur without interference from the government or external parties, ensuring a transparent and efficient process.
