Beacon Power Services

In brief

Africa’s power grids face significant challenges, with utilities struggling to provide consistent service due to outdated infrastructure and unreliable data. Beacon Power Services (BPS) is an energy tech company that provides data-driven solutions that are based on, for example, AI-enabled digital mapping. The funding will enable BPS to enhance its product offerings, support growth in its current operations, and expand into new markets across Eastern and Southern Africa.

Main development impact

BPS software and services will help African utilities to improve the efficiency and reliability of their power services. BPS services respond to the perpetual grid management problems and offer tools to break the vicious circle of unreliable supply, technical and commercial losses and low revenue collection. BPS helps utilities to identify new customers, reduce outages and improve post-payment billing. Customers will benefit from improved grid reliability, less use of diesel back-up generators and thereby cheaper electricity.

Investment details

Name: Beacon Power Services
Project number: 80000500
Region: Africa
Country: Nigeria, Ghana, Nigeria, Kenya, Zambia
Sector: Energy
Signing date (month/year): September 2024
Currency: USD
Finnfund's financing (commitment): 2,129,998
Instrument: Equity
Part of the European Fund for Sustainable Development Plus (EFSD+): Yes
Status: Active
Website: https://beaconpowerservices.com/

Please note, that in principle, this information is given at the time of signature according to Finnfund's disclosure policy. However, in the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the fund’s final closing, and information on the portfolio companies financed by the fund is updated at least once a year.

Key facts

Name:

Beacon Power Services

Sector:

Energy

Region:

Africa

Country:

Nigeria, Ghana, Nigeria, Kenya, Zambia

Currency:

USD

Finnfund's financing (commitment):

2,129,998

Signing date (month/year):

September 2024

Last update:

April 2025