Bristol’s City Council has announced £1bn of investment toward its goal to become the UK’s first carbon neutral smart city.

‘Bristol City Leap’ a project of Bristol City Council and the city’s energy company Bristol Energy have launched a global search to find a partner organisation or group of organisations in which to invest.

The procurement process, which will enable a citywide energy system to be built, is expected to run for a number of months.

The ‘City Leap’ project was first announced in May last year, before the city declared a “climate emergency” in November.

Over £50m has already been invested in the city’s low-carbon and renewable projects since 2012 and more than 180 organisations, including tech firms and energy companies have contacted the project.

The council reports that it has cut its emissions by 71 per cent in the last 14 years.

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.

Bristol Energy managing director Marek Majewicz added: “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.”