Bristol City Council has agreed to sell the local authority owned company, Bristol Energy, following continued challenges.
The council says that the company has faced unprecedented challenges since being established in 2015, and the cabinet has now agreed that selling the company now would prevent any further investment than already agreed and is now seeking a buyer.
The council’s cash investment in Bristol Energy Ltd as at 2 June 2020 sits at £36.5 million, and total cash funding envelope is set at £37.7 million, as previously approved.