Toronto Hydro Street Lighting Inc. to purchase City of Toronto's street light assets
TORONTO, ONTARIO - Toronto Hydro Street Lighting Inc. is purchasing the City of Toronto's street lighting and expressway lighting assets for the sum of $60 million.
They will provide street lighting and expressway lighting services to Toronto for an initial period of 30 years.
"The street light system was largely designed and built by Toronto Hydro over many decades, and we have been maintaining most of it for more than 90 years", said David O'Brien, President and Chief Executive Officer, Toronto Hydro Corporation.
"This purchase will enable us to streamline our street light operations, providing quicker response times to outages and better customer service."
The deal closes on December 30.
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