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Aerial view of Nova Utilities' floating solar array on the Lekki Lagoon, Lagos

Energy infrastructure · Nigeria

Powering Nigeria’s future… today

Nova Utilities develops, owns and operates solar and gas energy assets that deliver reliable, affordable and sustainable power to homes, businesses and public services across Nigeria.

The investment case → Explore our businesses
Nova Blueline power station · Lagos Scroll

At a glance

0Generation delivered to date
0Power projects completed since 2019
0Operating companies, one platform
Founded 2018100+ years combined experienceFirst project 2019Headquartered in Lagos

Why this matters

$14Bn

spent every year on diesel self-generation in Nigeria. Capital flowing out of the productive economy and into pollution.

Nigeria has the highest electricity deficit per capita of the world’s fifty largest economies

The cost is measured in lost productivity, stunted growth and millions of people without reliable power. Nova Utilities is building the infrastructure that displaces diesel, lowers cost and gives Nigeria’s economy the power it needs to grow.

#1 electricity deficit per capita, top-50 economies 240 million people, demand rising every year 5–6 GW available against 13.6 GW installed

Electricity used per person each year

kilowatt-hours, latest available

Nigeria uses roughly 180 kWh per person a year, a fraction of its peers, and among the lowest of any major economy. Hover a bar for detail. Sources: World Bank, U.S. EIA, IEA.

Nigeria’s electricity generation mix

2023 · share of grid generation
2023grid mix

    Three-quarters of the grid runs on gas and oil; almost all the rest is legacy hydropower. Solar and wind remain under 0.1%. That is the gap Nova’s floating solar is built to close. Source: IRENA / U.S. EIA, 2023.

    What we do

    Three operating companies, one integrated platform

    Solar · Generation

    Floating Solar Company

    Utility-scale floating solar

    Nigeria’s first floating solar developer, generating clean power from the surface of the Lekki Lagoon, turning contested urban land scarcity into a productive energy asset.

    Learn more →
    Power · C&I

    Sapio Utilities

    Captive & embedded power

    Reliable, affordable power for residential, commercial and industrial clients: modular gas plants sited close to the end-user, engineered, built and operated to displace the grid and diesel.

    Learn more →
    Power · Generation

    Nova Blueline Power

    Generation, distribution & transmission

    Owns and operates power stations, sub-stations and transmission infrastructure: the independent power producer behind the 8 MW integrated power solution for the Lagos State Blueline Rail.

    Learn more →

    Floating Solar Company

    Floating solar on the Lagos Lagoon

    Floating Solar Company, a subsidiary of Nova Utilities, is pioneering sustainable energy in Lagos with the construction of a floating solar farm in Lekki Phase 1. This innovative pilot project features bifacial solar panels mounted on water-based floats, maximising efficiency by capturing direct sunlight alongside reflections from the lagoon. By successfully harnessing this vast water body, Floating Solar Company is establishing a reliable, renewable energy solution for diverse residential and commercial clients across Nigeria’s economic capital.

    Track record

    Built and operating, not promises and prototypes

    Since 2019, Nova Utilities and its subsidiaries have developed, built and now operate a growing portfolio of generation and distribution assets across Lagos.

    2019Meadow Hall Power Plant3.8 MW thermal generationLagos
    2021Ocean Bay Power Plant3.5 MW thermal generationLagos
    2021Ocean Bay Distribution NetworkDistribution infrastructureLagos
    2022Blueline Sub-Station Distribution NetworkDistribution infrastructureLagos
    2023Lagos Blueline Rail: Integrated Power Solution8 MW integrated power solutionLagos State
    2024Lekki Floating Solar250 kW · Nigeria’s first floating solarLekki Lagoon

    From the Group Chief Executive

    Energy means more than watts and volts, it gives life-changing power

    “Our passionate people, world-class strategic partners and advanced technology are transforming the way energy is generated, delivered and stored in the markets we serve.”

    Faruk Agoro  ·  Group Chief Executive, Nova Utilities

    The investment case

    A structural opportunity, a generational platform

    Nigeria’s energy deficit is structural, not cyclical. The Electricity Act 2023 has opened the market to private capital for the first time, and early movers will define it. Nova brings together a decade of building Nigerian power and infrastructure, from generation and distribution to the country’s first floating solar.

    1. Structural, not cyclical, demand

      Urbanisation, population growth and industrialisation drive demand that outstrips supply by a wide, persistent margin.

    2. Early-mover advantage

      Years of regulatory navigation, OEM partnerships and commissioned projects that a new entrant cannot replicate.

    3. Diversified asset strategy

      Three independent segments (floating solar, captive power and rail energy) insulate the Group and sharpen its judgement.

    4. Institutional-grade governance

      Rigorous techno-economic assessment, long-term offtake with creditworthy clients and disciplined ESG reporting.

    5. Credentials for global capital

      Verifiable CO₂ avoided and diesel displaced, positioning Nova for green finance and development-finance capital.

    Partner with us → Investor enquiries We respond within two business days.

    Backed by world-class partners

    Caterpillar
    Ciel & Terre
    Green Power International
    JMG
    LONGi
    Mantrac
    MWM
    Rolls-Royce MTU
    S&S Energy
    Schneider Electric

    News & Updates

    From the Nova newsroom