Bristol seeks £1bn backer for Net Zero transformation


Bristol City Council is seeking an institutional investor to fund the first tranche of its energy transformation as it bids to decarbonise the city.

The City Leap Project plans to deliver a broad range of energy projects.

It includes district heating, domestic and commercial energy efficiency and renewable generation.

Bristol also hopes to create a city-wide smart grid that combines demand-side response, storage, electric vehicles and vehicle-to-grid, networked heat pumps and smart appliances.

Out to 2050, the total investment required may be £5bn.

The council told The Energyst this summer that any backer must share its ambition to decarbonise and take a long-term view.

“They have to be in it for the long-term and share the journey,” said Councillor Kye Dudd, cabinet member for Energy and Transport.

“We accept they need to make a return; there must be some margin in it for them. But we need a partner that is willing to commit long-term to Bristol.”

Underneath the investment framework, delivery work is open to all parties, said Dudd. “SMEs, local businesses, communities: We want the widest possible involvement.”

The council’s procurement process will run “for several months”. It said anyone interested in bidding should visit Bristol’s Energy Service website.

Related stories:

Net Zero: Bristol’s £5bn decarbonisation plan

Bristol pilots blockchain energy efficiency rewards scheme

Bristol, Devon and Plymouth councils land Euromillions for energy projects

Bristol commits £5m to heat networks, eyes bigger prize

Click here to see if you qualify for a free subscription to the print magazine, or to renew.

Follow us at @EnergystMedia. For regular bulletins, sign up for the free newsletter.



Please enter your comment!
Please enter your name here