Investment Case
Nigeria has the demand, the policy and now the financing architecture for a generation of privately built power. This is the data behind that case, and where Nova sits within it.
The case in three numbers
Power reaching homes and businesses, against a 15 GW federal target
The sector’s investment need, as stated by the Minister of Power
Cost per kWh of the diesel Nova displaces, against a far lower solar benchmark
The thesis
Nigeria’s constraint is usable power, not installed capacity: a 240-million-person economy runs on roughly 5 GW at the meter. The national “30-30-30” target puts 30 GW of capacity and 30 per cent renewables within reach by 2030, and every unit of that new growth is solar. The economics already work without subsidy, because the incumbent Nova displaces is diesel at several times the cost of solar.
African commercial-and-industrial and embedded power is now a funded asset class with blue-chip backers and realised exits. Nova operates squarely within it, on the embedded, on-site side of the build-out where a fragile grid pushes the opportunity, selling to named, creditworthy customers and structured for the diligence institutional capital requires.
The full detail
The usable-power gap, the generation-mix shift, the sector’s roughly $100 billion capital need, the cost-per-kilowatt-hour economics, comparable financed transactions and Nova’s diligence readiness, fully sourced.