Transform Schools, which manages Balfour Beatty Capital's schools schemes, has secured funding for Southwark's £200 million Building Schools for the Future (BSF) programme.
Appointed as selected bidder last year, Transform Schools got funding to cover the costs of the project, which gives Balfour Beatty the green light to carry out the construction work and facilities management in 12 schools across the London borough.

The project, which incorporates renewable energy technologies to achieve at a 60% cut in carbon dioxide emissions, received funding under the government's Low Carbon Schools scheme.

Work on the 12 schools will be tackled in three phases. The new schools in Southwark in the first phase are scheduled to open in September 2010 and January 2011.

Balfour Beatty chief executive, Ian Tyler said: 'We are delighted to have reached financial close on Southwark Schools for the Future. We look forward to using our experience of working on eight major PPP education projects to create first-class new learning environments in Southwark.'

Balfour Beatty has eight PPP concessions in the UK education sector, three under the Building Schools for the Future (BSF) programme at Southwark, Islington and Knowsley and five under the previous PPP model at Stoke, Bassetlaw, Rotherham, Birmingham and North Lanarkshire.

Balfour Beatty companies are construction partners in other PPP schools schemes including the BSF schemes in Hackney, Haringey and Greenwich with a total contract value of over £220 million. It is also a framework contractor providing construction services to the £180 million scheme for Manchester City Ccuncil and the £100 million scheme in Liverpool.