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 2020 (subject to final approval).
The Concessionaire is now providing a sustained level of maintenance for the remaining 18 years of the contract.
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 agreed to support ta range of charities in 2021 focused on tackling social exclusion and building a community through initiatives including contributing to new community minibuses and enhancing local community centres across the island.
The Project’s impact was recognised through the attribution of a gold award (highest possible) in 2021 by Green Impact, for the Operating Company’s best practices in sustainability. The management of the island’s contaminated materials in old roads was also the 2021 UK Region winner in the Vinci Environmental Awards (250,000 tons were recycled).
Years of capital improvements, 25 Yrs of Maintanence
of roads, 29km of cycleway
street lamps recycled and replaced by LED lights
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