Early Warning System

Countries

Nigeria

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Feb 25, 2026

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Beacon Power Services Nigeria Limited

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy
Industry and Trade

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 10.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 26.95 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Primary Source

Original disclosure @ EBRD website

Updated in EWS Dec 9, 2025

Disclosed by Bank Nov 12, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of the provision of a senior corporate loan of up to USD 10 million to Beacon Power Services Nigeria Limited ("BPSN") and Beacon Power Services Corporation ("BPS") to scale up operations and deploy technical solutions to six of Nigeria's eleven distribution companies ("DisCos"). The financing will support investments in and operation of smart metering equipment for electricity utilities enabling optimal use of BPS's software solutions.

Nigeria's distribution sector has been experiencing challenges and BPS's technologies is addressing these challenges by reducing electricity losses and improving revenue collection through technology solutions.

The key objectives of the Project are to deploy smart meters that will enable the implementation of BPS's technical solutions and support the additional solutions provided by BPS and BPSN as energy service companies ("ESCO"). This will boost the DisCos' annual revenue through the digitalisation of customer and asset management and the streamlining of payment processing.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Category B (ESP 2024). The provision and installation of smart meters in selected regions in Nigeria is associated with site-specific risks that can be addressed with adequate management plans.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

A senior corporate loan of up to USD 10 million.

Total Project cost is estimated at USD 20 million, with USD 7.5 million co-financed through a parallel loan facility and the remainder through equity contributions.

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Beacon Power Services Nigeria Limited is a private limited liability company registered in Nigeria. It was incorporated in 2010 as a wholly owned subsidiary of BPS to operate and deliver energy solutions in Nigeria. BPS is a holding company established in the US, which is owned by management and financial investors. BPS is an energy tech company that provides smart-grid solutions through data and network management software to power utilities. BPS supports utility companies across 7 countries in Africa in improving electricity access and operational efficiency, including increasing revenue collection.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Beacon Power Services Nigeria Limited	Client	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Gregoire Lecomte
business@bpsafrica.com

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html