EBRD backs Beacon Power Services to digitise Nigeria's grid
What's the deal? The European Bank for Reconstruction and Development (EBRD)Dealroom has a profile for this one. Try Dealroom → is providing a debt financing package to Beacon Power ServicesDealroom has a profile for this one. Try Dealroom → (BPS) to roll out smart metering and digital energy solutions in Nigeria.
What does BPS do? It is an African energy technology company specialising in smart grid solutions, network visibility, and utility digitisation. Its software, analytics, and metering tools help electricity utilities across Africa cut losses and improve service.
Where does the money go? The financing supports BPS's work with Nigeria's electricity distribution companies (DisCos), funding smart metering systems, grid management software, and meter data management tools. The aim is to improve DisCos' billing accuracy, revenue collection, and network visibility.
Customers also gain better access to information about their electricity use and billing through digital platforms.
Why now? Nigeria joined the EBRD as a country of operation in 2025. The Bank has since invested around €175 million across seven projects there and committed US$100 million in trade finance facilities.
What's the endgame? The investment is meant to support Nigeria's ongoing power sector reforms by showing how digital technologies can improve electricity distribution. Wider adoption of smart metering could help build a more efficient, financially sustainable power sector.
BPS has also committed to the UN's Women's Empowerment Principles, pledging measures to expand opportunities for women in technical and leadership roles.
The signal: Africa's utilities lose significant revenue to poor metering and billing. Backing a digitisation specialist rather than new generation capacity signals growing lender interest in fixing distribution — the weak link in many African power markets.
Read more: independent.ng
Image credit: FirstEnergy Corp.
