Green Investment Bank finance for Kent street lighting scheme

24 Oct 16

The UK Green Investment Bank has loaned £10.2m to Kent County Council to support its £40m programme to replace streetlights with energy efficient LED lights.

Kent is to replace 120,000 streetlights by mid-2019, and expects a saving of £5m a year through lower energy costs, as the LED lights will cut its electricity demand by 60%.

The programme is expected to avoid some 223,000 tonnes of greenhouse gas emissions during the lights’ lifetimes. 

Salix Finance has also provided funding for the project, which will be carried out by Bouygues Energies & Services.

GIB head of investment banking Edward Northam said: “By embarking on this ambitious project, Kent County Council has joined a growing number of public sector organisations that are focusing on energy efficiency as they manage their economic and environmental responsibilities.”

Kent’s cabinet member for environment and transport Matthew Balfour said the council has given priority to lights in residential areas and would later tackle town centres and main roads.

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