Bristol City Council has launched a global search to deliver up to £1 billion of investment to support its ambition to become the UK's first carbon neutral city by 2030.
Run alongside Bristol Energy, the city's energy company, City Leap will establish a joint venture with another organisation or group of organisations to create a zero-carbon, smart energy city that will provide significant economic benefits for the people of Bristol and its businesses.
Marvin Rees, Mayor of Bristol said: "City Leap is a world first. We are creating a decarbonised local energy system that Bristol can be proud of.
"City Leap is leading the way on carbon reduction, while at the same time addressing important social and economic challenges.
"The inclusion of Bristol Energy is integral to delivering smart energy propositions utilising City Leap's projects by weaving a number of technologies together, helping to ensure that the company continues to deliver clean energy and social value for local people."
Following its unveiling last year, City Leap quickly attracted interest from over 180 local, national and international organisations, including technology firms, investors, community organisations as well as innovative energy and infrastructure developers. The procurement process will now run for a number of months.
City Leap will support the Mayor's ambitions for Bristol to be carbon neutral by 2030. Over £50 million has been invested in Bristol's low-carbon and renewable projects since 2012, and the council has cut its own emissions by 71% since 2005.
Bristol Energy will have a key role in City Leap. As a formal part of the joint venture, the utility will deliver smart energy propositions, such as local tariffs and innovative services, designed to cut carbon and reduce peak energy demand.
In return, the utility will benefit from external investment, significantly reducing its reliance on council funding, while ensuring important social value continues to be delivered to local people.
Marek Majewicz, managing director of Bristol Energy, said: "City Leap will help us deliver a sustainable energy company with social value at its heart. 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.
"Bristol Energy is already working on a wide range of innovative projects and we're looking forward to harnessing low-carbon technologies for the good of our city and our customers."
Organisations interested in bidding can find more information on the council's Energy Service website: www.energyservicebristol.co.uk