EBRD Backs Nigerian Energy Startup Beacon Power Services in $20.9 Million Grid Modernisation Project

The European Bank for Reconstruction and Development (EBRD) has approved financing of up to $10 million for Nigerian energy technology startup Beacon Power Services (BPS) , supporting a $20.9 million project aimed at improving electricity distribution and grid management across Nigeria. The investment will support the deployment of smart meters and digital electricity management solutions across six of Nigeria’s 11 electricity distribution companies. According to the financing arrangement, the E