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Bristol seeks JV partner for carbon neutral city project

Bristol, the UK. Author: Harshil Shah. License: Creative Commons, Attribution-NoDerivs 2.0 Generic (CC BY-ND 2.0)

September 9 (Renewables Now) - Bristol City Council and local utility Bristol Energy are looking for a partner to deliver the so called City Leap project that envisages Bristol becoming the UK’s first carbon neutral city by 2030.

The parties have launched a procurement process that should run for several months, with the hope of attracting up to GBP 1 billion (USD 1.24bn/EUR 1.12bn) of investments. The project was unveiled in 2018 and has since drawn interest from more than 180 organisations, including technology firms and investors, among others.

“From community heat networks, to energy innovation in social housing, the substantial investment from the partnership will enable everyone in Bristol to benefit from low carbon, renewable energy projects,” commented Marek Majewicz, managing director of Bristol Energy.

The utility’s role in the planned joint venture is to deliver smart energy propositions in a drive to reduce both carbon dioxide (CO2) emissions and peak energy demand.

The city of Bristol’s low-carbon and renewable energy projects have taken up a total investment of over GBP 50 million since 2012.

(GBP 1.0 = USD 1.236/EUR 1.121)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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