And this week, Lightsource BP announces its presence in Brazil, meaning the business is now active in 10 countries up from just five only a year ago. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. Lightsource bp is a global solar leader and 50:50 JV partner with bp, working with utilities, businesses, local communities and governments to help meet the rising demand for affordable, reliable and sustainable energy. 2023 Lightsource. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. (Loading)*. The team is keen to get started in a country where solar is currently heavily underrepresented in the power generation mix but provides a cheaper, flexible, quick-to-deploy energy option that can be placed close to where the demand is. All quotes delayed a minimum of 15 minutes. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. We use cookies to collect and analyse information on our site's performance and to enable the site to function. Oil and gas will remain BPs largest source of income over the coming decade which will help pay for the shift to low-carbon energy. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. The full details of our Gender Pay Gap Report 2018 can be found here. All rights reserved. are on pages 282-336. The previous year, we reported a gap of 1.2% in favour of men (compared to the UK mean, which was 17.4% according to ONS), and this year our mean gender pay gap is 6%, in favour of women. 382.4 KB, pdf / Group Results Fourth Quarter and Full Year 2019 Highlights. As a leading developer, financier and operator of utility-scale solar, we have been building and growing meaningful partnerships across the energy transition for over a decade. COLUMBUS, Ohio-- ( BUSINESS WIRE )--Lightsource bp has executed a power purchase agreement with Amazon for a new 375 megawatt (MWdc) solar project under development in Ohio, as part of Amazon's. You can find out more about which cookies we are using or switch them off in settings. 2023 Lightsource. The material on the bp Annual Report webpage (the Material) relates to the year ended 31 December 2021 and is provided for general information only. We use cookies to collect and analyse information on our site's performance and to enable the site to function. 2018, The BP partnership has definitely given our whole team confidence. BP are able to deliver more than just solar. We are using cookies to give you the best experience on our website. As the first person on the ground when entering a new territory, he has found that, over the past year, the BP name has opened a lot of doors. We power businesses and communities across the US with clean and affordable energy solutions. You can find out more about which cookies we are using or switch them off in settings. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Choose a career where you are empowered to change the world! December 2022 marks five years since bp and Lightsource entered into a partnership to become Lightsource bp a 50:50 joint venture between the companies. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. You must click the activation link in order to complete your subscription. Building scale with capital discipline and returns focus. 264.7 KB. Lightsource and bp celebrate five-year anniversary. When it joined RE100 in 2020, First Solar committed to powering 100 percent of its global manufacturing operations with renewable energy by 2028, with an interim goal of transitioning its facilities in the US to carbon-free electricity by 2026. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 2023 Lightsource. Privately-owned Lightsource BP, which develops solar projects from their earliest stages, reported a turnover of 55.3 million pounds ($72.2 million) last year, compared with 40.7 million pounds. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. To obtain a hard printed copy of BP's complete audited financial statements, free of charge, UK based investors should contact bp Distribution Services by clicking the link above or calling +44 (0)870 241 3269 or by emailing bpdistributionservices@bp.com. "Reliability is super-important, too this is a young industry, so its like a gold rush, with new players coming into the market who want to flip things quickly. This is where we come in. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). Oversee onboarding of new facilities. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. Developed at R&D labs in California and Ohio, the companys advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. Lightsource and bp celebrate five-year anniversary. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. Solar Energy UK, the UKs solar trade association, has shone a light on new research that suggests that solar farms can contribute positively to food security. But many BP investors have cast doubts over BPs vow that the renewables business could generate returns of 8% to 10%, higher than the sectors average of 5% to 6% in order to maintain and even grow shareholder payouts. These forward-looking statements include, but are not limited to, statements concerning (i) the framework agreement to supply up to 5.4 gigawatts (GW)DC of solar modules to bp and Lightsource bp, (ii) an MoU with bp and Lightsource bp to explore opportunities to source solar electricity from generation assets owned by the two companies in the United States, (iii) First Solars plans to establish new factories in the United States and India and the expected capacities of those factories, and (iv) when those factories will commence operations and the companys resulting global manufacturing footprint. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. Actual results may differ materially from those expressed in such statements depending on a variety of factors. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. At Lightsource BP we firmly believe in the importance of a diverse, supportive, equality-driven work force, and were proud of everything weve done to create one. BP undoubtedly lends its global scale, built up over more than a century, to the partnership, opening doors and sharing its knowledge of operating in territories covering the US, India, Europe and the Middle East. Looking ahead to 2019, Souflis and Brooks are set to continue assessing opportunities together in multiple countries where Lightsource BP has no presence, at the moment, but where solar makes sense and where the BP name provides a strategic advantage. solar projects developed worldwide to date, US solar projects in construction or operations, USD project financing raised in the US since 2019, Executed US power contracts with clients in 11 states. Led by Emilie Wangerman, Lightsource bp's business development team supported bp in acquiring an additional 9 GW pipeline of projects from 7X Energy, Inc., which will be exclusively developed by Lightsource bp's U.S. team. BP p.l.c. Lightsource BP will continue to publish an annual Gender Pay Gap Report, despite falling below the threshold of businesses required to do so, as evidence of our dedication to fair pay and transparency. Partnerships are a key part of our approach, enabling better and faster utilization of our network. As the company's shares, in the form of ADSs, are listed on the NYSE, an Annual Report on Form 20-F is filed with the SEC. As we continue to grow and progress our 10GW development pipeline across America, in addition to our partner bps 9GWs, executing significant long-term procurement agreements with bankable, world class suppliers like First Solar enables us to deliver on our growth plans and industry-leading global target of 25GW of solar by 2025. In 2021 we started up two major projects in the US Gulf of Mexico, where we plan to grow our oil and gas production to around 400mboe/d net by the mid-2020s, We are accelerating our electric vehicle (EV) charging ambition across key growth markets, through a focus on on-the-go charging and fleets. Weve just released our second annual Gender Pay Gap Report, which covers our gender differences in terms of population, pay and bonus levels from March 2017 to March 2018. As a leading global solar developer and bp partner, we are rapidly scaling-up to help meet the rising demand for reliable electricity, while supporting the global energy transition to net zero. Read story Prev 1 2 TEMPE, Ariz., Nov. 22, 2021 (GLOBE NEWSWIRE) -- First Solar, Inc. (Nasdaq: FSLR) today announced that global solar leader Lightsource bp and integrated energy company bp have placed multi-year orders for up to 5.4 gigawatts (GW) combined of First Solars advanced, ultra-low carbon thin film photovoltaic (PV) solar modules. These modules are a critical step in delivering our 9GW solar pipeline that will provide affordable energy, create jobs, bolster the supply chain and deliver the type of returns our investors expect. Lightsource bp is a global leader with local impact. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. Our growth has been in maturing the organization and getting into a strong operating position for next year. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. In a statement Thursday, Lightsource bp which oil. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . June:first utility solar plant in Maharashtra, India, iscompleted and connected financed by UK Climate Investments, a JV between the Green Investment Group and the Department for Business Energy and Industrial Strategy. As a business we care deeply about the impact of our projects, our culture and values, and our team members. Cookies also allow us and our partners to show you relevant ads when you visit our site and other 3rd party websites, including social networks. When I think about how weve grown as a company, its very, very different to just adding megawatts we have also added great talent and continued to mature and innovate for clients and other stakeholders to stay ahead of the competition, says Brooks. Procurement agreement with US-based manufacturer. Cookies also allow us and our partners to show you relevant ads when you visit our site and other 3rd party websites, including social networks. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. Annual report Performing while transforming Annual Report and Form 20-F 2021 pdf / 8.3 MB Strategy Business model Remuneration Key downloads Throughout the transition, our goal will be to maintain the high performance and steady progress we have shown since our transformation journey began in 2020. Our team includes over 500 industry specialists, working across 15 countries. It is a key element in BP CEO Bernard Looneys plan to grow BPs renewable power generation capacity 20-fold by 2030 to 50 GW from solar and wind power. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. Since late 2017, the team has developed a pipeline of more than 10 gigawatts of large-scale solar projects at various stages of development across the United States with over 2.8 gigawatts of contracted assets with clients in 11 states representing more than $2.3 billion in expected investment. Brazil is a massive market with huge potential. LONDON, Oct 22 (Reuters) - Solar power developer Lightsource BP has generated returns of 10% and more on projects, its chief executive told Reuters as investors fret over joint owner BPs plan to switch away from oil and gas to renewables. We are using cookies to give you the best experience on our website. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. There is going to be a huge amount of capital flow into new business models, he predicts. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. pdf / The full details of our Gender Pay Gap Report 2018can be found here. Were proud to announce that over the past three months weve secured planning permission for a total of over 100MW of solar and storage projects in the UK. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 London-based Lightsource BP, which is half-owned by oil major BP and will mark its 10th anniversary later this year, has rapidly grown around the world in recent years and aims to reach 10 gigawatt (GW) of solar capacity by 2023 from a current 2 GW . Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Lightsource BP will continue to publish an annual Gender Pay Gap Report, despite falling below the threshold of businesses required to do so, as evidence of our dedication to fair pay and transparency. We are growing at pace and scale, going beyond business as usual, to act as an enabler of the energy transition and meet this rising demand for sustainable energy with the urgency it deserves. Energy Outlook 2023 considers the recent disruption to global energy supplies and associated impacts on global prices, and explores how this could affect the energy transition out to 2050. We are using cookies to give you the best experience on our website. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. Please refer to the Cautionary statement on page 364 of the full bp Annual Report and Form 20-F 2021 for further information on forward-looking statements. For more information on bp in the US, visit www.bp.com/us. Lightsource bp and bp will benefit from the evolution of First Solars advanced Cadmium Telluride (CadTel) thin film module technology platform over the span of the agreement. investor@firstsolar.com Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. First Solar Investor Relations Lightsource bp Renewable Energy Semiconductor Manufacturing . bp acquired the projects as part of its net zero ambition and target to grow its net developed renewable generating capacity to 20GW by 2025 and 50GW by 2030. Delivered by Investis. All rights reserved. The framework agreements, the largest in First Solars history, will provide modules scheduled to be delivered between 2023 and 2025 to support the companies solar development pipelines in the United States. In the US, the companys securities are traded on the New York Stock Exchange (NYSE) in the form of ADSs (see page 368 of the bp Annual Report and Form 20-F 2021 for more details) and in Germany in the form of a global depositary certificate representing bp ordinary shares traded on the Frankfurt, Hamburg and Dusseldorf Stock Exchanges. This website uses cookies so that we can provide you with the best user experience possible. When BP announced its stake in Lightsource in late-December 2017, committing $200 million over three years, Brooks was just a year into his role. Where we refer to the company, we mean BP p.l.c. Our purpose is to deliver affordable and sustainable solar. GBp The project will be the largest solar project in the state and will help McDonald's and eBay meet their sustainability goals and advance their commitment to climate action. Throughout the transition, our goal will be to maintain the high performance and steady progress we have shown since our transformation journey began in 2020. pdf / These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. 8.3 MB. (), USD (), USD Sustainability is integrated into our business strategy and operating model at every level. This result is much lower than the UK average (this year 8.6% in favour of men), and is largely due to the composition of our workforce. The Material does not (i) form part of the bp Annual Report and, pdf / If you experience any issues with this process, please contact us for further assistance. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. Our team includes over 500 industry specialists, working across 15 countries. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. It is just the start for us in Latin America, Souflis adds. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. in 2001. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource BP, like rivals including Frances Total , sees further opportunities for profits from selling solar and wind power projects it had developed from early stages. The brand gives us a credibility that it would take 30 years to develop on our own. Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/16dda5bd-3fb9-4df3-a008-49c75d6999d5, https://www.globenewswire.com/NewsRoom/AttachmentNg/f00065c2-75ab-46b9-b9e8-b9057d21ae52. These provide the basis for a common set of enduring objectives for bp as we transform the organization consistent with the long-term energy transition. Lightsource bp and bp have signed a multi-year agreement for up to 5.4 gigawatts of First Solar modules to be delivered between 2023 and 2025 (Photo: Lightsource bp) Order includes up to 4.3GW for . Choose a career where you are empowered to change the world! If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. This website uses cookies so that we can provide you with the best user experience possible. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. For more information, please visit www.firstsolar.com. As part of the deal, Lightsource bp and bp have placed firm orders for approximately 4.4GWDC of modules, with options for an additional 1GWDC. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. It also translates into competitively priced electricity for our customers., Felipe Arbelaez, bps senior vice president of zero carbon energy, added: To help reach our net zero ambition and develop 50GW of renewable power by the end of this decade, we continue to invest in clean, reliable energy in the US. Privately-owned Lightsource BP, which develops solar projects from their earliest stages, reported a turnover of 55.3 million pounds ($72.2 million) last year, compared with 40.7 million pounds a year earlier, according to the companys annual report filed this week. Together with our 50:50 joint venture partner bp, we are reimagining energy and enacting real change on the energy landscape, not just in the USA, but all over the world. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. The BP partnership has definitely given our whole team confidence, Brooks says. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. This website uses cookies so that we can provide you with the best user experience possible. Lightsource bp Renewable Energy Investments Limited. All rights reserved. Our ability to help our customers manage these risks by providing long-term firm pricing and supply commitments, backed by First Solars reputation, is a key differentiator. We provide full scope development for our projects, from initial site selection, financing and permitting through to long-term management of solar projects and power sales to our clients. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. The Directors statements (comprising the Statement of directors responsibilities; Risk management and internal control; Longer-term viability; Going concern; and Fair, balanced and understandable), the independent auditors report on the annual report and accounts to the members of BP p.l.c., the parent company financial statements of BP p.l.c. 2.2 MB. The term shareholder in the bp Annual Report and Form 20-F 2021 means, unless the context otherwise requires, investors in the equity capital of BP p.l.c., both direct and indirect. All rights reserved. Assist in contract negotiation and. At Lightsource bp, weve been developing utility-scale solar projects since 2010. LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED, for LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED (09494479), (of the document filed at Companies House), Companies House does not verify the accuracy of the information filed. Discover how we are creating a positive impact across energy, the environment and our people. The new facility is expected to be commissioned in the first half of 2023 and when fully operational will scale the companys Northwest Ohio footprint to a total annual capacity of 6GW, which is believed to make it the largest fully vertically integrated solar manufacturing complex outside of China. February 27, 2023. In August 2021 Lightsource bp signed a new power purchase agreement with McDonald's and eBay for a 345MW solar project under development in Louisiana. 260MW of affordable, clean and locally generated electricity for Texas communities. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. Find out more about how Lightsource bp works and operates and our partnership with bp. 2023 Lightsource. You can choose to allow all cookies by clicking Allow all or manage them individually by clicking Manage cookie preferences, where you will also find more information. November First Solar is a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. Our approach has always been to attract, select and retain the right person for each position, regardless of gender, sexuality, personal beliefs, identity and ethnicity. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. With smaller pockets, comes a different approach. In March 2016, Lightsource Renewable Energy successfully completed and connected Europes largest floating solar farm, installing 6.3MW on the Queen Elizabeth II Reservoir, near London. We know many ways in which to finance projects and understand the market for financing very differently.. The Material may contain certain forward-looking statements, forecasts or projections with respect to the financial condition, results of operations and businesses of bp and certain of the plans and objectives of bp with respect to these items. Lightsource bp Renewable Energy Investments Limited. The modules, scheduled. Lightsource and bp celebrate five-year anniversary Read story 01 Mar, 2023 Lightsource bp will promote the development of 19 solar projects, involving an investment of 1.2 billion Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. Contact info@lightsourcebp.com SOCIAL RESOURCES Lightsource bp pays for the first $800 of the monthly insurance premium. That's enough to power approximately 86,000 homes in New South Wales. These factors include, but are not limited to, the matters discussed under the captions Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission. Speaking about the future growth of Lightsource BP, Brooks says: Ive no doubt that we will be 10 to 15 times the size we are today in a decade. Dont underestimate the ambitions of the Lightsource BP team, he warns.
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