ForceField Energy Inc. (FNRG), a U.S. energy-efficiency company, plans to install 19,000 LED street lamps for Costa Rica utility Empresa de Servicios Publicos de Heredia.
ESPH, as the utility is known, will pay Forcefield more than $21 million over 10 years, the New York-based company said today in a statement. The deal is expected to be closed and financing secured by Sept. 30.
LEDs, or light-emitting diodes, may reduce energy consumption by as much as 70 percent compared with conventional lighting products, according to the statement.
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