Balfour Beatty, the UK-based international developer, has reached financial close on a £230 million (€265 million; $374 million) street lighting public-private partnership (PPP) contract with Northamptonshire County Council in England.
The developer is investing £6.5 million of equity into the 25-year concession which involves the design, installation and maintenance of about 46,000 street lights including approximately 34,000 new street lighting columns and 11,000 signs and bollards during a five-year capital investment period. The contract also involves the ongoing maintenance of all existing and new equipment.
The contract was procured and will be delivered in partnership with the £203 million Cambridgeshire street lighting PPP contract for which Balfour Beatty reached financial close in April this year.
UK street lighting PPPs have been a fruitful area for Balfour Beatty, with Northamptonshire being the sixth such contract it has wrapped up. Aside from Cambridgeshire, it has also won contracts in Coventry, Sunderland, South Tyneside and Derby. In a statement, Balfour Beatty said all the existing projects were “proceeding successfully”.