PwC in Scotland leads on SSE PFI streetlight sale

PwC’s Edinburgh-based corporate finance team has advised Perth-based energy giant SSE on the successful sale of their remaining 3 UK PFI streetlighting projects.

The projects were acquired by DIF Infrastructure IV.

The street lighting projects are located in Newcastle and North Tyneside, Stoke on Trent and Leeds.

The projects are availability based and have all been operating for more than five years. All projects benefit from long term financing provided by RBS. Operations and lifecycle will continue being performed by an affiliate of SSE under a long term contract.

Ruth Kynoch, PwC Corporate Finance, who led the transaction, said: “We are delighted to have supported SSE on this transaction. We restructured the projects and ran the sales process assisting SSE to realise maximum value for the sale.”

The PwC team, headed up in Scotland, was led by Ruth Kynoch with support from Amy Edwards, Rachael Wraith and Nicola Hume on the transaction.

The fee was not disclosed.