Strovolos Municipality and the Electricity Authority of Cyprus have signed an agreement to replace street lighting with LED lights, expected to lead to annual savings of 550,000 euro.
In an announcement, the municipality said that about 10,000 street lights will be replaced by April 2020.
Electricity consumption will be slashed by some 65%, with the municipality estimating it will save some 550,000 euro a year as a result.
It added that it expected additional savings of 500,000 euro over the eight year maintenance period of the contract, as the municipality will not have to pay any additional sums for repairs or maintenance.
The agreement covers the provision of LED lights from an EAC subsidiary, the replacement of the old lights with the new ones and maintenance over eight years.
“Further than the important financial benefit for the municipality, the agreement will also have very positive environmental implications,” it added.