The funding will allow Blackpool Borough Council to secure a private sector partner to upgrade 13,000 local streetlights over the next 25 years.
 
Rosie Winterton said:
"Experience shows that better streetlighting helps improve road safety, as well as reducing crime and the fear of crime. I am very pleased that Blackpool is using this PFI arrangement to deliver real benefits to motorists and pedestrians alike."

The next stage in the process is for Blackpool Council to discuss with potential partners how the work will be undertaken.