Balfour Beatty, the international infrastructure group, announces today that it has reached financial close on a £230 million street lighting PPP contract for Northamptonshire County Council.
The 25-year concession will involve the design, installation and maintenance of about 46,000 street lights which includes approximately 34,000 new street lighting columns, and 11,000 signs and bollards during a five-year capital investment period, as well as the ongoing maintenance of all existing and new equipment.
The contract was procured and will be delivered in partnership with the Cambridgeshire street lighting PPP contract, for which Balfour Beatty reached financial close in April.
Balfour Beatty will invest equity of approximately £6.5 million into the concession.
Commenting on the contract award today Balfour Beatty Chief Executive, Ian Tyler, said:
"We are delighted to have reached financial close for this contract. We look forward to a long-term partnership with Northamptonshire County Council to transform the county's street lighting."
This is Balfour Beatty's sixth PPP street lighting concession, with existing projects in Cambridgeshire, Coventry, Sunderland, South Tyneside and Derby all proceeding successfully.
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