Contractor reaches financial close on its fifth PPP street lighting concession
Balfour Beatty has tied up a £203m PPP street lighting contract for Cambridgeshire County Council.
The 25-year concession will involve the design and installation of 50,000 street lights and 6,000 signs and bollards during the five-year capital investment period, and the ongoing maintenance of all existing and new equipment.
It is Balfour Beatty’s fifth PPP street lighting concession, after wins in Sunderland, South Tyneside, Derby and Coventry.
Balfour Beatty will invest equity of approximately £5m into the concession.
Ian Tyler, Balfour Beatty chief executive, said: “We are delighted to have reached financial close for this contract. We look forward to a long-term partnership with Cambridgeshire county council to transform the county’s street lighting”.