Solar Street Lighting Partners Osram In £250 Million Pound Deal
A leading provider of energy efficient lighting solutions in the UK, Solar Street Lighting, has partnered with world leading Osram Lighting in a deal that could reach a retail value of more than £250m.
As part of the partnership agreement, Manchester-based 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.
Navid Dean, CEO of Solar Street Lighting, 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 billion "“ 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"Nearly one in five lighting columns in the UK are as much as 10 years out of date, while councils renew about 200,000 lights a year "“ just 2% of their assets.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.
