The Green Investment Bank (GIB) is investing £10.2 million in a street lighting project in Kent.
The money will part-fund Kent County Council’s £40 million project, which involves the replacement of 120,000 traditional streetlights with LED alternatives.
It also includes the installation of a central management system to increase the efficiency of the local authority’s lighting stock.
The council estimates the programme will reduce its annual electricity consumption by 60% and cut maintenance costs, resulting in anticipated savings of £5 million per year.
The LEDs are also expected to avoid around 223,000 tonnes of greenhouse gas emissions during their lifetime.
Edward Northam, Head of Investment Banking at the GIB said: “Local authorities can run up significant energy bills but making the switch to low energy street lighting helps reduce demand and costs while cutting greenhouse gas emissions.”
There are limited free tickets for university students and end users.