Street lighting company strikes deal with dazzling potential of £250m
Manchester-based Solar Street Lighting has partnered with global company Osram Lighting in a deal that could reach a retail value in excess of £250m.
As part of the agreement, Solar Street Lighting will be a preferred supplier of street lighting products from Osram and both will work closely together on the design and implementation of all major street lighting projects.
Osram’s German-based parent company has been a pioneer in street lighting solutions since it was founded in 1906. The partnership is a significant step in encouraging greater adoption of street lighting in the UK, while opening up new commercial opportunities for the Manchester tech business.
Solar Street Lighting chief executive Navid Dean said: “This is a significant partnership for Solar Street Lighting as we continue to grow our market share.
Creating energy efficient street lighting solutions is a key battle in reducing our carbon footprint, while lowering energy bills in the public sector as budgets continue to be stretched.
“This deal will enable us to diversify our offering, supplying a wide range of street lighting solutions from one of the world’s leading names in the market. The UK needs significant investment in this market – about £2.5 bn – to ensure lighting assets are renewed correctly.
“Nearly one in five lighting columns in the UK are as much as 10 years out of date, while councils renew about 200,000 lights a year – just 2% of their assets. These lights are not as energy efficient as they could be, increasing costs and making it harder to meet carbon reduction targets.”
The partnership comes as local authorities remain under increasing pressure from the Government’s Carbon Reduction Commitment Scheme, which requires them to pay “carbon allowances” that could add up to 10% to energy costs.
