Bristol City Leap Wins 2024 Award of Distinction for Public-Private Collaboration in Cities

Rhea-AI Summary

Bristol City Leap (BCL), a joint venture between Bristol City Council, Ameresco, and Vattenfall Heat UK, has won the 2024 Award of Distinction for Public-Private Collaboration in Cities. The 20-year initiative aims to achieve city-scale decarbonization through £1 billion in investments, with £424 million committed by 2027.

The project includes £18 million for EV charging, £2.5 million for council buildings efficiency, solar PV and heat pump installations in schools, £57 million for social housing improvements, and an £83 million renewable energy program. These initiatives are expected to reduce carbon emissions by 140,000 tonnes and install 182 MW of renewable energy over five years.

The project will generate £61.5 million in social value, create over 1,000 local jobs, and establish a £1.5 million Community Energy Fund to address fuel poverty.

Celebrated for its outstanding contributions to sustainable urban development and innovative public-private partnerships, Ameresco’s Bristol City Leap project has set a new standard in addressing climate change and enhancing community resilience

FRAMINGHAM, Mass. & BRISTOL, England--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, is proud to announce that its Bristol City Leap (BCL) project has been awarded the prestigious 2024 Award of Distinction for Public-Private Collaboration in Cities by the Global Partnership for Local Investment, an initiative of the World Economic Forum in collaboration with UN-Habitat. This accolade recognizes the groundbreaking efforts of Bristol City Leap in addressing the urgent need to reduce carbon emissions and meet ambitious climate targets through an innovative public-private partnership.

Winners of the 2024 Public-Private Collaboration Award (Photo: Business Wire)

Bristol City Leap is a pioneering, twenty-year joint venture between Bristol City Council, Ameresco, and Vattenfall Heat UK. The initiative focuses on achieving city-scale decarbonization by installing low carbon energy infrastructure, primarily funded and delivered by the private sector. The goal is for the joint venture to attract £1 billion in investments over the partnership's duration, with at least £424 million committed by 2027. The commitment to City Leap has continued across political administrations with cross-party support.

“Bristol City Leap exemplifies how cities can leverage innovative public-private partnerships to drive sustainable urban transformation,” said Jeff Merritt, Head of Urban Transformation at the World Economic Forum. “This award recognizes Bristol’s leadership in demonstrating that collaboration at scale is key to addressing global climate challenges while delivering tangible benefits to local communities.”

Key benefits:

• EV Charging Network: £18 million investment in the city's EV charging network over the first five years.
• Council Operational Buildings: £2.5 million projects in council operational buildings for Building Management Systems, energy-efficient chillers, and LED lighting, with a further £10 million of projects in advanced development to commence within the next 12 months.
• Schools: Installation of solar photovoltaic (PV) systems and air-source heat pumps in schools to reduce their carbon footprint.
• Social Housing Stock: £57 million investment in the city's social housing stock by 2029, including £16 million for refurbishing nine blocks of flats and a £7.8 million window replacement program to improve energy efficiency.
• Heat Network Expansion: Expansion of the city's heat network by Vattenfall, expected to supply low carbon heat to the equivalent of 12,000 homes over the next five years.
• Large-Scale Renewable Development: An £83 million program of large-scale renewable development, much of which will take place on council-owned land.

Collectively, these initiatives are projected to result in an impressive reduction of approximately 140,000 tonnes of carbon emissions and the installation of 182 MW of clean, renewable energy over the five years.

This substantial impact not only contributes to Bristol's ambitious climate goals but also sets a benchmark for other cities aiming to achieve similar environmental milestones. By harnessing the power of innovative technologies and sustainable practices, Bristol City Leap is paving the way for a greener, more resilient future.

"This award is a testament to the power of collaboration in driving meaningful change,” said Mark Apsey MBE, Senior Vice President at Ameresco. “By creating a long-term place-based partnership between Bristol City Council and Ameresco we are attracting investment in energy projects to take action toward decarbonization. This approach is unlocking significant social value by creating good local jobs, improving local infrastructure and providing support for local communities. We are keen to see this world first model replicated rapidly in other cities and places to accelerate mitigation action on climate change."

“Cities are where the battle against climate change will largely be won or lost,” said Marvin Rees OBE, former Mayor of Bristol who launched Bristol City Leap. “But cities will only be able to deliver on their potential if they access the right finance, at the scale and the right time. The approach we developed for Bristol City Leap is a solution to that challenge by establishing a partnership with the private sector. It’s a solution I hope we will see replicated in cities across the UK and around the world. It will be attractive to policy makers and climate activists because not only will it help us deliver on our climate pledges, but it supports a just transition by locking in significant economic and environmental benefits. It is an example of Bristol’s commitment to sustainability and inclusive economic growth, ensuring the city builds a future where no one is left behind.”

“The Bristol City Leap partnership is a pioneering collaboration that demonstrates the value of combining the best of the public and private sectors to deliver real change for our city,” said Councillor Tony Dyer, Leader of Bristol City Council. “Through working together, we are bringing to Bristol a number of the interventions required to move towards a more sustainable, energy resilient city. This approach is also creating new jobs in an emerging green energy sector and has the power to unlock tremendous amounts of social benefits for communities across the city. This award demonstrates that we’re on the right track and we look forward to continuing to work as a partnership to achieve our ambitious goals.”

The project emphasizes social value, with local economic benefits estimated at £61.5 million in social value, £55 million in contracts with the local supply chain, and over 1,000 local jobs, work placements, and apprenticeships. A £1.5 million Community Energy Fund has been established, with the first awards to community groups being made, and the delivery of £4 million energy efficiency measures for the city's most vulnerable households is helping to tackle fuel poverty.

Looking ahead, Ameresco is developing relationships with many interested UK and international cities to share the lessons from Bristol and set up new outcome based public-private partnerships.

For more information about Bristol City Leap, visit Bristol City Leap (bristolcityleap.co.uk).

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes solutions that help customers reduce costs, decarbonize to net zero, and build energy resiliency while leveraging smart, connected technologies. From implementing energy efficiency and infrastructure upgrades to developing, constructing, and operating distributed energy resources – we are a trusted sustainability partner. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, utilities, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241023949039/en/

Media Contact:

Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com

Source: Ameresco, Inc.

FAQ

What is the total investment target for Bristol City Leap (AMRC) over its 20-year duration?

Bristol City Leap aims to attract £1 billion in investments over the 20-year partnership duration, with at least £424 million committed by 2027.

How many tonnes of carbon emissions will Bristol City Leap (AMRC) reduce in its first five years?

The project is projected to reduce approximately 140,000 tonnes of carbon emissions over the first five years.

What is the investment amount for social housing in Bristol City Leap (AMRC)?

The project includes £57 million investment in the city's social housing stock by 2029, including £16 million for refurbishing nine blocks of flats.

How many local jobs will Bristol City Leap (AMRC) create?

The project will create over 1,000 local jobs, work placements, and apprenticeships.

What is the size of the Community Energy Fund established by Bristol City Leap (AMRC)?

A £1.5 million Community Energy Fund has been established to support community groups and address fuel poverty.