Piccadilly line is the second contract to be awarded under the London Underground High Voltage (HV) Power framework, to which Balfour Beatty was appointed last year.
Balfour Beatty will be responsible for the design, supply and installation of new assets at Hatton Cross and Hounslow substations including transformer rectifiers, high voltage and low voltage switchboards, direct current switchboards, auxiliary transformers and associated cable routes.
The work will help to increase the traction power needed for the next generation of trains and to increase capacity along the route.
Works are due to start by the end of the year, with completion expected in 2026. At construction peak, Balfour Beatty will have 40 people on the job.
Mick Rayner, managing director of Balfour Beatty’s Rail business, said: "This latest contract award is testament to our long-standing relationship with Transport for London, having worked collaboratively with them for the last 20 years.
“We look forward to further supporting the upgrade and enhancement of the Piccadilly line helping to provide a smooth and reliable service for the travelling public across the city."