Coscharis Technologies Limited, a subsidiary of the Coscharis Group, has announced plans to launch a massive $4 billion solar power project aimed at transforming Nigeria’s energy sector. The initiative, which will be the largest renewable energy project in West Africa, seeks to harness solar energy to reduce Nigeria’s reliance on fossil fuels and contribute to global climate change goals.
The project was finalized in Delhi, India, and aligns with Nigeria’s commitment to sustainable development. Speaking about the project, the Managing Director of Coscharis Technologies, Dr. Sunday Mukoro, emphasized its significance in advancing the nation’s energy infrastructure and addressing environmental challenges.
“This project will provide clean, solar-powered energy solutions that support environmental sustainability and promote Nigeria’s energy independence,” Mukoro said. He highlighted that the initiative will offer a reliable and sustainable alternative to fossil fuels, which currently dominate Nigeria’s energy landscape.
Dr. Mukoro also pointed out that the $4 billion fund would be strategically deployed to help Nigerian businesses and entrepreneurs thrive by addressing the country’s persistent power supply issues. “These funds will be made available to Nigerian entrepreneurs and other business entities who are dedicated to operating their businesses with reliable power supply,” Mukoro explained.
He stressed the vital role of power in driving economic growth, saying, “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.”
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The project will initially focus on government entities, as well as the private sector, including banks, manufacturing companies, and small and medium-sized enterprises (SMEs). Mukoro noted that individuals and residential communities would also benefit from the solar-powered solutions. Agreements will be put in place to ensure a clear payback structure, an essential element of the project’s long-term success.
Coscharis Group’s CEO, Dr. Cosmas Maduka, praised Mukoro and his team for spearheading such a transformative project. “The achievement for the company as a group is to further confirm its commitment to delivering value for money to all stakeholders in the sectors,” Maduka stated. He added, “The Coscharis Technology team has just proven with this initiative that it is the game changer in the ICT sector in Nigeria and the Sub-Saharan market to further delight our ever-dynamic customers in a dynamic IT business environment.”
Coscharis Technologies has committed to working closely with international partners and local communities to ensure that the project is implemented in an environmentally and socially responsible manner. The company also made it clear that the project will be executed without undue government interference or external involvement.
This groundbreaking solar power initiative represents a major step forward in Nigeria’s efforts to secure a sustainable and reliable energy future, while also contributing to the global fight against climate change.