The deal is the first of several packages to be let under the new London Underground High Voltage (HV) Power framework which Balfour Beatty won a place on earlier this year.
The framework runs for six years, with a potential to extend by a further two years.
Balfour Beatty will be responsible for the design, supply and installation of new assets along the Piccadilly line to support the increase in ‘Traction Power’ required to run the next generation of trains which will be introduced from 2025.
On completion, the scheme will also support a 23% increase in capacity on the Piccadilly line at the busiest times, with new, longer trains scheduled every 135 seconds from 2027.
Works will include the renewal and replacement of High Voltage and Low Voltage Switchboards along with new HV Cables at several substations across the Piccadilly line including Cockfosters, Hyde Park Corner, Northfields, Sudbury Hill and Leicester Square.
Matthew Steele, Managing Director of Balfour Beatty’s Rail & Utilities business, said: “This latest contract award is a significant achievement, building on our 19-year relationship with London Underground. It is testament to our unrivalled capability and deep domain knowledge in delivering underground rail works.
“Once complete, the programme will transform travel for thousands of passengers each day and ensure that the London Underground can continue to run a reliable and safe service for many more years to come.”
Works are due to commence this month, with completion expected in 2025.
At construction peak, the company will employ approximately 80 people.