Kolkata Municipal Corporation (KMC) is preparing to sign a nine year contract with Energy Efficiency Services Ltd. (EESL) after the conclusion of the general elections currently ongoing in India. The contract will be for a joint-venture to replace a total of 300,000 street lamps with LEDs, according to The Economic Times. 

The joint-venture between KMC and four state firms, including NTPC, Rural Electrification Corporation, Power Grid Corporation, and Power Finance Corporation, is anticipated to save around 50 to 55 percent in energy costs. The LED street lamps will also provide more light than the current vapor lamps in use. 

In addition, the new LED street lamps will include radio chips which will allow them to be monitored and controlled wirelessly. The street lamps will be dimmed around 11 pm and further around 1 am to save even more on energy costs, said Saurabh Kumar, EESL Managing Director. 

It will cost around US $49.8 million to install and maintain the LED street lamps, according to EESL. However, after installation, the street lamps are anticipated to save between US $2.5 million a year in electricity costs.