Bristol City Leap, an ambitious project to deliver a zero-carbon, smart energy city by 2030, has launched a global search to deliver up to £1bn of investment and provide significant economic benefits for the people of Bristol and its businesses.
Led by Bristol City Council and Bristol Energy, the city’s energy company, City Leap will establish a joint venture with another organisation or group of organisations to support the delivery of the UK’s first carbon neutral city by 2030.
Marvin Rees, mayor of Bristol said: “City Leap is a world first. We are creating a decarbonised local energy system that Bristol can be proud of.
“City Leap is leading the way on carbon reduction, while at the same time addressing important social and economic challenges.
“The inclusion of Bristol Energy is integral to delivering smart energy propositions utilising City Leap’s projects by weaving a number of technologies together, helping to ensure that the company continues to deliver clean energy and social value for local people.”
Following its unveiling last year, City Leap quickly attracted interest from over 180 local, national and international organisations, including technology firms, investors, community organisations as well as innovative energy and infrastructure developers. The procurement process will now run for a number of months.
City Leap will support the mayor’s ambitions for Bristol to be carbon neutral by 2030. Over £50m has been invested in Bristol’s low-carbon and renewable projects since 2012, and the council has cut its own emissions by 71 per cent since 2005.
Bristol Energy will have a key role in City Leap. As a formal part of the joint venture, the utility will deliver smart energy propositions, such as local tariffs and innovative services, designed to cut carbon and reduce peak energy demand.
In return, the utility will benefit from external investment, significantly reducing its reliance on council funding, while ensuring important social value continues to be delivered to local people.