Renewable energy company Airtricity is to buy ESB's street lighting business ESB Contract for €6.4m.

The business will be known as Airtricity Utility Solutions and will employ more than 100 people including those who currently work with ESBC.

Airtricity Utility Solutions says it will be responsible for maintaining around 300,000 street lights on behalf of almost 90 local authorities.

After the deal is completed, ESBC employees will have the option to transfer to the new company.