Bristol City Council is seeking to appoint a Strategic Partner to form a long term corporate joint venture with the Council, the City Leap Energy Partnership. This partnership will be established to provide and secure low-carbon energy-related investment and expertise to deliver Bristol’s social, environmental and economic objectives.
The City Leap Energy Partnership will provide opportunities for the development, construction, and financing of low-carbon energy-related projects aimed at meeting Bristol’s carbon neutrality targets and potentially those of other local authorities in the South West region.
Such projects are likely to focus on:
- heat networks - allowing the delivery of low carbon heat to be delivered across the city, building on Bristol’s existing city centre heat network
- smart grid and demand-side response - building demand-side response capacity on the local electricity network to facilitate the roll-out of electric vehicles, embedded generation and smart devices, linked to smart metering and future time-of-use tariffs
- renewable energy - the programme would provide resources required to developed increased renewable energy generation capacity at storage
- low carbon transportation - the programme will focus on rapid mass transit, low emission vehicles and charging infrastructure
- energy efficiency - City Leap would provide the resources
for a broad ranging package of domestic and commercial energy efficiency measures
It is anticipated that the City Leap partnership will comprise a joint venture company with potentially 2 immediate subsidiaries:
- Bristol Energy Limited, which, as well as being an energy supplier, will provide project origination, delivery and operation (but not ownership) of energy assets; and
- an asset-owning investment vehicle, which will hold shares in wide range of low carbon and energy projects through a special purpose vehicle structure
The final structure of the City Leap energy partnership will be developed in conjunction with bidders during the tender process, particularly in relation to the nature of asset-owning structures and any associated investment fund that may be proposed by the bidders during the process or is linked to for the purpose of providing investment funding for City Leap.
Project promoter and partnerships
Bristol City Council are the promoters of this large scale, integrated energy project. Bristol has long led the way in the fields of energy, sustainability, digital and future start-up companies.
It was the European Green Capital in 2015, and was voted the number one smart city in the UK in 2017. To date the city has successfully delivered approximately 50 million GBP of low carbon energy investment.
The mayor and councillors across all parties are committed to continued delivery and want to achieve a step change in the delivery of the low carbon, smart energy infrastructure.
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Find out more about Bristol City Leap.