EBRD Funds Nigerian AI-Powered Grid Tech to Combat Power Sector Losses

The European Bank for Reconstruction and Development (EBRD) has approved a $10 million loan for Beacon Power Services (BPS), a Nigerian energy technology company, as part of a $20.9 million project. This financing aims to deploy smart metering and AI-enabled grid management solutions across six of Nigeria's eleven electricity distribution companies. The initiative seeks to address the severe financial losses plaguing Nigeria's power sector, which are largely due to inefficient billing and a significant metering gap.

BPS, founded by aerospace engineer Bimbola Adisa, offers a suite of integrated platforms, including Adora, an AI-powered system for real-time billing, outage management, and predictive maintenance. The company's solutions have already demonstrated success, reducing electricity losses from 35% to 20% in projects across Nigeria and Ghana, and increasing revenue by nearly 70% for utilities in Ghana. This digital approach is seen as a crucial step in modernizing the grid and improving service delivery.

Nigeria faces one of the world's largest electricity access deficits, with over 80 million people lacking reliable grid power. The country's distribution companies recorded combined losses exceeding $1.5 billion in 2024-2025, with billing inefficiencies being a major contributor. A vast metering gap, with 4.7 million unmetered customers, leads to estimated billing, consumer dissatisfaction, and a lack of investment in infrastructure.

This EBRD-backed private sector approach contrasts with slower government-led metering programs. By financing BPS, the EBRD is supporting a technology-driven solution that empowers utilities to digitize their networks, improve revenue collection, and reduce losses, thereby fostering a more sustainable and reliable power supply for millions of Nigerians. The success of this model could offer a blueprint for other African nations grappling with similar energy challenges.