THE WORLD’S FIRST £1 BILLION DEAL

The Bristol City Leap partnership between Bristol City Council and renewable energy companies Ameresco and Vattenfall Heat UK, aims to bring £1bn of investment into the city with the goal of making Bristol carbon neutral by 2030.

The 20-year deal promises to transform how Bristol generates, distributes, stores and uses energy, with a focus on expanding the district heat network, installing new wind turbines and solar panels, retrofitting homes with insulation and rolling out heat pumps.

Within the next five years, Bristol City Leap claims that it will deliver at least £424m through a number of infrastructure projects to reduce Bristol’s carbon footprint by 140,000 tonnes.

Bristol businesses and residents can expect to be provided with access to reliable, low carbon heat from sustainable sources as part of a major expansion of Bristol’s Heat Network.

The initiative is estimated to deliver a minimum of £61.5 million of social value to the city over the next five years.

More than 1,000 new jobs, apprenticeships and work placements are set to be created.

Marvin Rees called City Leap a “big deal” for the city. He said: “This is a world first and sets out a clear blueprint for cityscale decarbonisation for other cities and regions to follow.

“Bristol City Leap will have a real impact for Bristol residents including the ways that we power and heat our homes, which is perhaps more important than ever before.

“With Bristol City Leap, our city will become a real focal point for new low carbon technologies and smart energy systems whilst creating thousands of jobs and ensuring a just transition.

“I’m delighted that we have found a partner that shares our vision for a fairer, decarbonised future and it’s great to welcome Ameresco and their partner Vattenfall to Bristol.”

The deal was approved in December 2022 and the contracts to finalise the agreement were signed aboard SS Great Britain.

Britta MacIntosh, senior vice president of Ameresco, said “Our excitement for the potential of Bristol City Leap continues to build as we move past another significant milestone of contract signing.

“As municipalities across the globe consider next steps in their own decarbonisation path, we hope Bristol City Leap is a showcase example of how action drives transformative results.”