ABB announced yesterday that it has signed a 25-year private finance contract, worth $350 million, with Staffordshire County Council in the UK to ensure improved lighting in the region’s streets.
Yesterday’s announcement is said to represent the largest private finance contract for street lighting in the UK.
ABB will take responsibility for the long-term management of street lighting and illuminated traffic signs. It will also assess the condition of the remaining lighting equipment and replace it when necessary.
ABB will fulfil its contractual obligations using its condition monitoring and asset management software with a Web-based customer information system.
‘This contract highlights ABB’s growing service business in its Power Technologies division and demonstrates our ability to carry out asset management projects which combine strategic consultancy with proven technical services,’ said Peter Smits, head of ABB’s Power Technologies division.