The authority has approved plans to convert all its streetlights currently under the contract to LEDs, through an additional investment of £19.9m over three years.
Surrey said the move would reduce energy consumption by 60% and would save around £2m per year in today’s prices.
The council’s cabinet has approved authorisation for the head of highways and transport to complete the negotiation of the contractual variation, alongside the authority’s executive director of finance, council leader and cabinet lead member for place.
Surrey signed the PFI deal with a joint venture between Skanska and John Laing nine years ago, with John Laing Infrastructure Fund (JLIF) acquiring John Laing’s share in 2014.
Surrey amends streetlighting PFI
Surrey County Council is top execute a deed of variation to upgrade the lights in its streetlighting PFI contract.
