The European Bank for Reconstruction and Development (EBRD) has agreed a financing package with energy technology firm Beacon Power Services (BPS) to accelerate the digitalisation of Nigeria’s power grid.

The funding will support BPS in delivering smart metering systems, grid management software and meter data solutions to Nigeria’s electricity distribution companies (DisCos). These digital tools are designed to increase billing precision, strengthen revenue collection and give utilities clear visibility over their networks. Electricity consumers will also be able to monitor their energy usage and billing details through digital platforms.

BPS develops smart grid technologies, analytics and utility software to help African energy companies lower losses and improve operational delivery. The investment aligns with broader structural reforms in Nigeria’s power sector by demonstrating the practical benefits of digital infrastructure. Adopting smart metering on a wider scale is expected to create a more efficient and financially sustainable distribution network.

Alongside the commercial agreement, BPS has signed up to the UN Women’s Empowerment Principles. The company has agreed to introduce specific measures to increase female representation across technical roles and leadership positions.

Since Nigeria became a member country of the EBRD in 2025, the Bank has invested approximately €175 million across seven local projects. It has also committed $100 million in trade finance facilities to support economic development in the region.