MDOT closes street lighting P3 project
The Michigan Department of Transportation (MDOT) and Freeway Lighting Partners (FLP) have achieved commercial and financial closure for the Detroit street lighting PPP project.
FLP is a consortium composed of Star America Infrastructure and Aldridge Electric as equity owners, and Aldridge Electric as design-build contractor, Parsons Brinkerhoff as the designer, and Cofely Services as operations and maintenance provider.
Project financing has been provided by Allianz Life Insurance of North America, a Blackrock Capital entity.
The porject estimated investment is US$123 million.
The project involves the improvement of the existing street lighting system, which comprises approximately 15,000 lights across bridges, tunnels and roadway within the Detroit Metro Region' Freeway System, through the installation of LED lights over the next two years.
The preferred bidder will be responsible for the operation and maintenance of the system for a period of 15 years.
Detroit is the most populous city in the U.S. state of Michigan and the largest city on theUnited States-Canada border. It is the seat of Wayne County, the most populous county in the state. It is a primary business, cultural, financial and transportation center in the Metro Detroit area, a region of 5.3 million people.
Dentons advised Cofely Services in the project.
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