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Refurbishment of street lighting with LEDs requires high investments which most municipalities cannot afford. Contracting offers an alternative financing method to overcome this barrier. Contracting is a contractual arrangement between a provider of an energy efficiency improvement measure (Energy Service Company - ESCO) and a client (i.e. municipality). All costs for the refurbishment are covered by the ESCO. The Energy Service Company ensures the energy savings. The energy savings are used to cover the investment and capital costs of the ESCO. The contract ends after the amortization of the investment and the client benefits afterwards from the energy and cost savings.