The District Government of Columbia in Washington DC, USA has reached financial close for the Smart Street Lighting PPP project.

Plenary Infrastructure DC (PIDC), the project owner, has raised US$155 million, utilizing bonds issued by the authority. Wells Fargo and TD Securities acted as bond underwriters and were advised by Ashurst.

The proceedings from the bonds will be utilized in converting more than 75,000 streetlights to LED technology with remote monitoring and control capabilities. The modernization efforts will reduce the current streetlight energy consumption.