Future Energy Solutions (FES) will be undertaking a retrofit of NCP car parks across the UK with new energy efficient lighting systems in up to 149 locations over the coming year.

This follows a £10 million deal announced by The UK Energy Efficiency Investments Fund, in partnership with FES. The Fund is managed by Sustainable Development Capital and funded by the UK Green Investment Bank. A UK Guarantee will underpin the investment.

The investment enables the project to be delivered for NCP at no up-front cost, with the project being financed by energy cost savings over time.

Lighting specialist, FES, has developed the project and entered into a supply & services agreement with NCP to deliver the solution.

The UK Guarantee was key to the financing. The scheme was launched by the government last year to provide up to £40 billion of support to help important infrastructure projects raise finance. This is the first transport infrastructure project to have qualified for a UK Guarantee and demonstrates the flexibility of this unique scheme.

Chief Secretary to the Treasury, Danny Alexander said: "I am delighted that we have been able to support this innovative investment which improves car park facilities in 149 locations, making it easier for firms and families to access business opportunities in our city centres, and supporting growth across the UK.

"It demonstrates the flexibility of the UK Guarantees scheme, and shows we are using the strength of our balance sheet to support important projects that affect day to day lives of people in the UK.

"The project shows that being energy efficient is common sense, saving money and reducing emissions at the same time. I hope it encourages other infrastructure