Coscharis Technologies Limited, a division of the Coscharis Group, has secured a $4 billion investment to launch major power projects aimed at transforming Nigeria’s energy landscape. The funding will drive renewable energy solutions that support businesses, startups, and eventually, residential communities, aligning with the nation’s sustainability goals and reducing dependence on fossil fuels.
The initiative will prioritize government bodies, private businesses, including banks, manufacturers, and SMEs. Over time, the impact will extend to individuals and households, creating a broader shift in Nigeria’s energy infrastructure.
Central to this $4 billion energy investment is a focus on solar power solutions for Nigerian businesses. Sunday Mukoro, Managing Director of Coscharis Technologies, who played a pivotal role in securing the deal in Delhi, India, explained that this funding will help businesses combat persistent power issues by offering eco-friendly energy alternatives. The initiative is designed to meet global climate standards while promoting economic growth.
“These funds will provide Nigerian entrepreneurs and business owners with a reliable power supply, turning power challenges into opportunities for business expansion,” Mukoro stated.
He stressed the importance of power reliability for the success of businesses, from large corporations to SMEs. With this investment, Coscharis Technologies aims to offer a long-term solution to Nigeria’s power crisis, enabling businesses to grow with sustainable and consistent energy.
Mukoro also outlined a strategic plan for deploying the $4 billion, ensuring responsible and effective use of the funds. The project will be governed by clear agreements with defined repayment terms to maintain its long-term viability.
By focusing on solar energy, Coscharis Technologies aims to reduce the carbon footprint of Nigerian businesses, contributing to global climate efforts while boosting the local economy. Reliable energy access will foster innovation and growth across sectors, enabling Nigerian companies to compete on a global stage.
The president and CEO of Coscharis Group, Cosmas Maduka, lauded Mukoro and his team for their efforts in securing the $4 billion investment. He praised the project as a major step forward for Coscharis Technologies and a testament to the company’s leadership in both the ICT and renewable energy sectors.
“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,” Maduka said. “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.”
Coscharis Technologies Limited plans to collaborate with international partners and local communities to ensure that the project is implemented in a socially and environmentally responsible manner. The company has made it clear that the project will be executed without undue interference from the government or external parties, allowing for a streamlined and efficient disbursement of funds.
As a leading player in the Information Communication and Technology (ICT) sector in Nigeria and sub-Saharan Africa, Coscharis Technologies has built a reputation for delivering reliable hardware and service solutions. The company’s venture into the renewable energy space is expected to further enhance its standing as an innovator in the region, contributing to both economic development and environmental sustainability.
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