Background

The Project is a 25-year UK PFI contract with the Isle of Wight Council for the rehabilitation and maintenance of the road network on the island.
The Project improved the condition of carriageway, footpaths, streetlighting, drainage and other parts of the road network on the Isle of Wight. The inhabitants of the island off the coast of southern England have received a much-needed upgrade of their local infrastructure, which is continually maintained through a public private partnership.
Construction completion was achieved in March 2023.
The Concessionaire is now providing a sustained level of maintenance until the end of the contract.

Status

In Operation

ESG/SDG KeyFacts

Power consumption and price risks have been transferred from the local authority to the Operating Company.

Consequently, the Operating Company is strongly incentivized to implement energy savings and improve efficiency.  The contract also includes mechanisms to motivate the Operating Company to reduce water consumption and carbon emissions. As a result of these incentives,98% of waste water was recycled in 2020.

The Project Company is contributing to the Isle of Wight Foundation. The foundation offers £80k per annum and since inception 84 projects on the Island have been supported. This has assisted over 60 community organisations/charities to tackle social exclusion on the island.

The management of the island’s tar contaminated materials in old roads was also the 2021 UK Region winner in the Vinci Environmental Awards (250,000 tonnes were recycled).