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The European Bank for Reconstruction and Development (EBRD) is backing Beacon Power Services (BPS) to speed up the digital transformation of Nigeria’s electricity distribution sector.
However, the financing amount was not disclosed.
The partnership will let BPS expand its smart metering systems, grid management software and meter data management solutions across electricity distribution companies (DisCos) in Nigeria.
These tools should give utilities a clearer view of their networks, more accurate billing, lower commercial and technical losses and better revenue collection. Additionally, customers are also expected to get easier access to their consumption and billing information through digital platforms.
“This partnership is a strong endorsement of our vision to transform electricity distribution through technology. The financing will enable us to scale our solutions, help utilities operate more efficiently and ultimately improve electricity service delivery,” said Bim Adisa, Founder and CEO, Beacon Power Services
Founded in 2010 by Bim Adisa, Beacon Power Services is an energy technology company that provides data and grid management tools for electricity utilities.
Its digital suite helps utilities digitise their networks, see electricity distribution in real time, manage energy accounting and engage customers. The company says its aim is to help utilities cut network losses, raise revenue and improve customer satisfaction.
BPS will use the financing to roll out smart meters, grid management software and meter data management across Nigerian DisCos. BPS has also signed up to the United Nations Women’s Empowerment Principles. It will run initiatives to open up more technical and leadership roles to women within the company.
The announcement comes a few months after entering into a multi-year financial sponsorship and technical partnership with the Association of Power Utilities of Africa (APUA) to support its Scientific Committee for the 2025–2028 mandate.
The EBRD is a multilateral development bank that supports private-sector growth, sustainable investment and economic change in its countries of operation. Nigeria became one of those countries in 2025.
In July, EBRD invested in a $100 million financing facility in KCB Bank Kenya to expand access to credit for micro, small, and medium enterprises across Kenya. Also, EBRD helped with a $12.2 million loan facility in Valu, an Egyptian consumer FinTech platform offering buy-now-pay-later and consumer financing solutions.
