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Tue June 18 2024

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Balfour Beatty signs sixth street lighting concession

3 Aug 11 Balfour Beatty has reached financial close on a £230m 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. This 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.

This is Balfour Beatty's sixth PPP street lighting concession, with existing projects in Cambridgeshire, Coventry, Sunderland, South Tyneside and Derby all proceeding successfully, the company said.

The Northamptonshire 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 £6.5m into the concession.

Balfour Beatty chief executive Ian Tyler said: "We look forward to a long-term partnership with Northamptonshire County Council to transform the county's street lighting."

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