Coscharis Technologies Limited has secured a $4 billion power project to boost Nigeria’s energy landscape.
According to Coscharis Group, the initiative will harness renewable energy sources to significantly reduce the country’s reliance on fossil fuels and contribute to sustainable development goals.
Managing Director,Coscharis Technologies Limited, Dr Sunday Mukoro who was recently in Delhi, India to seal this Partnership collaboration highlighted that the project will primarily provide solar energy solutions to create environmentally friendly energy alternatives that align with global climate targets.
A statement issued by Abiona Babarinde,
General Manager, Marketing and Corporate Communications Coscharis Group, quoted
Mukoro as saying “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”, the statement added.
Recognizing the significance of power in bolstering the economy, Mukoro posited that Coscharis Technologies Ltd is determined to allocate these four billion dollars 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 the initiative, President / Chief Executive Officer 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 Mukoro 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.
Under the arrangement, Coscharis Technologies Limited will work closely with international partners and local communities to ensure that the project is implemented in an environmentally and socially responsible manner.
The statement explained that the disbursement will be executed without undue involvement from the government or any other external parties.
Coscharis Technologies Limited, a subsidiary of the Coscharis Group and a leading player in the Information Communication and Technology (ICT) sector in Nigeria and the Sub – Saharan Africa is an authorized distributor of a wide number of globally respected IT brands delivering reliable hardware and service solutions.
Founded in 1983, Coscharis Technologies Limited is one of the subsidiaries of Coscharis group which is a wholly owned Nigerian conglomerate with diversified interest in various sectors of the economy.
