The new energy efficient lighting system will be in place for 25 years and will stage one-off light shows during key moments of the Olympics this summer, as well as a light display every evening during the Games.
As reported by Event, the "firework-like" effects could include the bridge flashing gold when team GB wins a gold medal.
Tower Bridge told Event it couldn’t confirm details of Olympic lighting plans, but that the bridge has the capacity to flash gold, silver and bronze.
Work began in November to install the system, which uses 1,800 LED lights, 5,000 meters of cable and 1,000 junction boxes.
It was installed thanks to funding from London Mayor Boris Johnson; the City of London Corporation who own the bridge; and EDF and GE, both London 2012 sponsors.
Johnson said: "Tower Bridge is already a global icon and this much-loved landmark is now even more spectacular thanks to a world-class illumination system. As London gears up for a summer like no other, this fantastic lighting makeover is another example of how the capital is benefiting from the Games. Tower Bridge can now play a starring role in our celebrations, starting off this weekend by being bathed in a stately white light for the Queen's Diamond Jubilee."
Mark Boleat, chairman of policy and resources for the City of London Corporation, said: "The new lights will give Tower Bridge an elegant night-time look for the next 25 years, with the capability of creating firework-like displays on occasions of importance for London and the nation."
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