Land Securities has signed an agreement with Thames Water Services and EDF Energy to provide utilities at its Ebbsfleet Valley development in Kent Thameside.
The trio will create a joint venture company, Ebbsfleet Valley Utilities, which will provide a ‘one stop shop’ – subject to OFWAT and OFGEM regulatory approvals – for the installation of electricity, gas, water and sewerage, and the operation of these assets over a 40-year contract period at Ebbsfleet Valley.
The contract is potentially worth over £500m over the life of the project and follows the selection of the companies as preferred bidders in late 2005.
Ebbsfleet Valley covers 1,000 acres between the Bluewater shopping centre and the new Ebbsfleet International station.
The regeneration project will provide long-term employment for around 20,000 people, 10,000 new homes and 9m sq ft (836,120 sq m) of commercial offices, retail, leisure and community facilities.
It is the largest private developer-led scheme to be undertaken in the UK and will be built in phases over 20 – 25 years, commencing in 2007.