Over £1m of public assets have been quietly transferred to US multinational, Ameresco.
Tucked away in the Statement of Accounts for 2023 – 24 for the City Leap Energy Partnership Ltd joint venture company between Bristol City Council and Ameresco is the following statement:
“During the year, the directors took the decision to transfer the majority of the company’s employees and all of its property, plant and equipment, including its rights-of-use asset and related lease liability, to Ameresco Limited, as it was deemed in the best interests of the company. Ameresco Limited holds a 50% ownership in the company. This has resulted in significant movement in the company’s financials during the year compared to the period ended 31 March 2023.”
“The company’s employees and all of its property, plant and equipment, including its rights-of-use asset and related lease liability’” are valued at over one million pounds in the same accounts.
Decisions at the council with a financial value over £500k are major decisions and should be decided by the appropriate committee of elected councillors. In this case, Green leader, “Tory” Tony Dyer’s shambolic Strategy and Resources Committee. Why didn’t this happen?
We’re told, “it was deemed in the best interests of the company” by “directors” to transfer our assets to a US multinational. Who are these directors? According to the council’s draft Statement of Accounts for 2024 – 25 “the Council has two directors on the Board.”
Not accurate. There are no councillors on the board and therefore no democratic oversight whatsoever of the joint venture company. Instead, there is ONE council officer on City Leap Energy Partnership Ltd’s board of directors.
Until September 2024, this was Bristol City Council’s dubious former Chief Exec, Stephen “Preening” Peacock. He’s currently in all sorts of trouble in his new post at WECA after his former close Bristol colleague, the Labour Party’s ‘Slow Kev’ Slocombe, picked up a £150k contract with WECA outside of all known procurement regulations.
In Bristol, Peacock is, perhaps, best known for bunging Bristol Energy £1m from City Leap funds in 2020. The handout happened during a cash flow crisis at the failing council energy company in the lead up to the eventually cancelled 2020 election. The City Leap money was paid to Bristol Energy, allegedly, for “services”.
However, despite repeated requests, Peacock failed to identify what services he had purchased from Bristol Energy for City Leap. While the contract he had drawn up had a blank page where Bristol Energy’s “services” should have been listed.
Since Peacock scarpered to WECA, his role as director of City Leap Energy Partnership Ltd has been taken by John “Fails Upwards” Smith. He’s currently ineffectually poncing around the Counts Louse calling himself Executive Director of the Growth and Regeneration.
Coincidentally, Ameresco, the latest recipient of Peacock’s quiet generosity with public funds and assets, are the company currently paying Bristol’s new Labour Party Lord-a-Leapin’, former mayor, the Reverend Rees, a retainer for his services.
Murky stuff.
