NStar has awarded the City of New Bedford nearly $1.2 million.

The energy company granted the funds to the City for the first two phases of the streetlight conversion project, in which New Bedford is replacing nearly 10,000 street and traffic lights with LED fixtures.

The utility incentive payment provides about 25% of the funding for the $5.6 million project.

When complete, the entire project will reduce electricity expenses by about $600,000 per year for the City of New Bedford.