DETROIT, Dec. 10, 2015 /PRNewswire/ -- On August 24th, the Michigan Department of Transportation (MDOT) and Freeway Lighting Partners, LLC, (FLP) reached commercial and financial close on the Detroit Metro Region Freeway Lighting Project. This contract, a freeway lighting project structured as a public-private partnership (P3), is the first of its kind within the United States.
The FLP team consists of four companies: Aldridge in the role of the lead design-build contractor and partial equity owner, Star America Infrastructure as an additional equity owner, Parsons Brinkerhoff as the designer and Cofely Services acting as operations and maintenance provider. This ground breaking and innovative freeway lighting project will improve the system's operability and replace approximately 15,000 lights with energy efficient LED lights across bridges, tunnels and roadways within the system.
P3 contracts, as a method to execute infrastructure projects, are becoming more prevalent across the country's construction industry. In a typical P3 construction project, the private-sector team will design and build the project based on the owner's goals and criteria. In addition, the team will provide the financing and operate and maintain the project for a period of time. The partners are compensated through the resulting user fees, long term availability payments or, as in this case, cost savings created by energy efficiency.
Public-private partnerships are of growing interest to public entities as they offer a much needed solution to the problem of improving an aging infrastructure with limited funding. The project is a great opportunity to improve the safety, efficiency and service for residents and businesses utilizing Michigan freeways.
The project is currently in development, with construction expected to begin in 2016. Stephen Aldridge comments, "It took a great deal of investment, planning and vision to pursue the Michigan public-private partnership project. Aldridge's depth of resources and broad capabilities ensure success on this contractually complex undertaking."
Aldridge, headquartered in Chicagoland, is a significant contractor specializing in electrical and foundation infrastructure work in Transportation and Power.
SOURCE Aldridge Electric, Inc.