Balfour Beatty reaches financial close on £230 million Northamptonshire street lighting PPP contract
03 August 2011
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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Notes to editors:
- Balfour Beatty also has a significant portfolio of non-PPP street lighting maintenance contracts with Wokingham Borough Council, Bracknell Forest Council, Somerset County Council and Wiltshire County Council as well as responsibility for street lighting maintenance within its North Yorkshire County Council and Westminster City Council highways maintenance contracts.
- Balfour Beatty has a substantial infrastructure investments business.
In the UK, Balfour Beatty operates a portfolio of PPP concessions and also has interests in non-PPP assets. This portfolio consists of:
- Nine major hospitals
- Fourteen major schools schemes in the UK and a technical education centre in Singapore
- Six roads schemes and six street lighting projects (including Northamptonshire)
- North West Fire and Rescue, a fire stations upgrade scheme
- The London Underground power system
- A coastal defence pathfinder PPP
- Thanet offshore high-voltage transmission scheme (at preferred bidder stage)
- Barking Power Station (non-PPP)
- Exeter International Airport (non-PPP)
- Blackpool International Airport (non-PPP)
In the US, this portfolio consists of:
- 17 US military housing projects for the Army, Navy and Air Force, on or near bases located in 20 states
- Florida Atlantic University student accommodation
- Balfour Beatty (www.balfourbeatty.com) is a world-class infrastructure group operating in professional services, construction services, support services and infrastructure investments.
We work in partnership with our customers principally in the UK, continental Europe, the US, South-East Asia, Australia and the Middle East, who value the highest levels of quality, safety and technical expertise.
Key infrastructure markets include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation) and commercial (offices, leisure and retail).
The Group delivers services essential to the development, creation and care of these infrastructure assets including project design, financing and management, engineering and construction, and facilities management services.
Balfour Beatty employs 50,000 people around the world.