After submitting your request, you will receive an activation email to the requested email address. Lightsource bp is an international solar business. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. 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. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. BP p.l.c. 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. Were looking at assets in some parts of Europe that definitely offer double digit returns and we are also looking at assets in other parts of the world that are lower than that, he told Reuters in an interview this month. Lightsource BP - the solar developer 50% owned by the oil supermajor - announced a more than doubling in growth ambitions backed by a $1.8bn finance package as it hailed "a shift in mindset from gigawatts to terawatts" by the global renewables sector. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. Discover how we are creating a positive impact across energy, the environment and our people. Lightsource bp Renewable Energy Investments Limited. 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. 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. farmers and ranchers face increasing economic stress. 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. 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. bp is Americas largest energy investor since 2005, investing more than $130 billion in the economy and supporting about 230,000 additional jobs through its business activities. Lightsource bp is a global leader in utility-scale solar development and management. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. 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. 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. 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. From raw material sourcing and manufacturing through end-of-life module recycling, First Solars approach to technology embodies sustainability and a responsibility towards people and the planet. Lightsource BP, a global solar company in which oil major BP has a 50 percent stake, has begun commercial operation of its largest solar project located in North Texas. The brand gives us a credibility that it would take 30 years to develop on our own. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. Our purpose is to deliver affordable and sustainable solar. We are using cookies to give you the best experience on our website. We build, own and operate cost-effective, clean energy projects, and are dedicated to pushing the frontiers of solar and storage solutions, backed by world-class execution capabilities. It is an existing key geography for BP, too, and we already are seeing huge opportunity, says Vlasios Souflis, Lightsource BPs international business development director, who is heading up this latest market entry into Latin America. Legal notice in relation to the material on this page. You can find out more about which cookies we are using or switch them off in settings. Doubling adjusted EBITDA, sustaining returns, focused on customers. ()*, GBp 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. Group Results Fourth Quarter and Full Year 2019 Highlights. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. of 1 each. 2005 BP Alternative Energy Is Launched, from the Deep Sea to the Desert, from Rigs to Retail, Charging Company, Energy with Purpose Means Helping the World Reach Net Zero, BP Plc Group Results Second Quarter and Half Year 2020(A), Exxon Mobil Corp., Exxonmobil Oil Index No, The Forces Maintaining Fossil Fuel Dependence in the Age of Electric, Financial Institutions with a Full Business Law Service, BP P.L.C. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. Our employees are drivers of our success, as is our status as a fair employee with a track record of gender equity in hiring and compensation. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. You can change your cookie settings at any time. Lightsource bp today announced it has closed on a $533 million multiproject financing package for its 345-megawatt Ventress Solar project 30 miles northwest of Baton Rouge in Pointe Coupee Parish. We use cookies to make our services work and collect analytics information. November Brazil has all the hallmarks of a country in which Lightsource BP can thrive. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. Delivered by Investis. GBp 602-414-9315, Lightsource bp and bp Sign Multi-Year Agreement for up to 5.4GW of First Solar Modules, Western Hemispheres largest solar manufacturing footprint. Our gigawatt-approach to solar provides many benefits to our partners worldwide by leveraging economies of scale, ethical and sustainable procurement, and continuous improvement on quality and efficiency. It is not even the beginning of the end. Lightsource bp is an international solar business. 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. It is just the start for us in Latin America, Souflis adds. The full details of our Gender Pay Gap Report 2018can be found here. You can find out more about which cookies we are using or switch them off in settings. Lightsource and bp celebrate five-year anniversary. The company and each of its subsidiaries are separate legal entities. 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. Weve made a number of new hires across the Group, and the number of women in higher paying roles has increased, which is something were very proud of. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. Helge Lund, chair Chair's letter pdf / 264.7 KB By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. Our success is built on more than just our solar projects. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. The BP partnership has definitely given our whole team confidence, Brooks says. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. 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. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. This website uses cookies so that we can provide you with the best user experience possible. As a business we care deeply about the impact of our projects, our culture and values, and our team members. In addition to its Ohio manufacturing facilities, First Solar also operates factories in Vietnam and Malaysia, and has previously announced plans to build a new 3.3GW factory in India that is expected to be commissioned in the second half of 2023. 2023 Lightsource. I started in this business six years ago, when we were just finding our feet in the UK and a few hundred megawatts seemed a big ambition. That's enough to power approximately 86,000 homes in New South Wales. for the year ended 31 December 2021. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. Our Standards: The Thomson Reuters Trust Principles. Lightsource bp Renewable Energy Semiconductor Manufacturing . This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. The Strategic report and the Directors report together include the management report required by DTR 4.1 of the UK Financial Conduct Authoritys Disclosure Guidance and Transparency Rules. Delivered by Investis. Partnerships are a key part of our approach, enabling better and faster utilization of our network. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. "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. Choose a career where you are empowered to change the world! (Loading), USD The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. A year ago, Lightsource was the established solar leader in Europe. It sees further profit opportunities from BPs large power trading business, which can offer customers power from various sources such as solar, wind or natural gas. Find out more about how Lightsource bp works and operates and our partnership with bp. Read story 28 Feb, 2023 Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. 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. Where we refer to the company, we mean BP p.l.c. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Report this post Report Report. Lightsource bp, a 50:50 joint venture with bp, unveiled the solar project that will help reduce emissions and support more than 1,000 jobs at EVRAZ's Pueblo steel mill - the world's first steel mill to be powered largely by solar energy. This website uses cookies so that we can provide you with the best user experience possible. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. We continue to grow teams, partnerships and projects throughout the world. Find out more about our sustainability strategy and initatives. We are using cookies to give you the best experience on our website. New Mexico 382.4 KB, pdf / * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. To obtain a hard printed copy of bps 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. 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. At Lightsource bp, weve been developing utility-scale solar projects since 2010. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. We use cookies to collect and analyse information on our site's performance and to enable the site to function. The Directors remuneration report is on pages 116-141. Were delighted that bp and Lightsource bp have placed their trust in us and our technology to help power their growth in the United States.. You can sign up for additional alert options at any time. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). BP <BP.L> is getting back into solar power six years after its first, failed foray, with a $200 million investment in solar generator Lightsource that the oil and gas firm expects will deliver . All rights reserved. This website uses cookies so that we can provide you with the best user experience possible. For more information, please visit www.firstsolar.com. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. The bp Annual Report and Form 20-F 2021 available for download on this webpage constitutes the Annual Report and Accounts in accordance with UK requirements and the Annual Report on Form 20-F in accordance with the US Securities Exchange Act of 1934, for BP p.l.c. 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. November:contracts are signed for 25MW of solar power in Western US. Brazil is a massive market with huge potential. 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. Forward-looking statements are only predictions based on our current expectations and our projections about future events and therefore speak only as of the date of this release. 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. 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. Lightsource bp is a global leader in utility-scale solar development and management. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Read story Prev 1 2 We are using cookies to give you the best experience on our website. We use some essential cookies to make our services work. We believe that sustainability and social responsibility are crucial for long-term business success and this is embedded within our business model, holding us accountable to those principles. You've accepted analytics cookies. About bp Our growth has been in maturing the organization and getting into a strong operating position for next year. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. All rights reserved. You've rejected analytics cookies. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. Sustainability is at our core. About Lightsource bp We are using cookies to give you the best experience on our website. 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. High-grading our portfolio, lowering our emissions and driving returns. BP International Limited. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. Oversee onboarding of new facilities. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. 2023 Lightsource. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. We are using cookies to give you the best experience on our website. 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. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. We have always been driven, and our partnership with BP is a great enabler. BP and Lightsource announced the partnership in December. 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. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. The companys primary share listing is the London Stock Exchange. For more information please visit www.lightsourcebp.com. Our most recent Annual Report and Form 20-F is available on our website at www.bp.com, or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov SOURCE BP PLC . 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 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. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. As a business, we also care deeply about our culture and values, invest in our teams, and place people and communities at the heart of the decisions we make. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. All rights reserved. For First Solar Investors 8.3 MB. November:expansion into Italy, Iberia and Brazil is announced. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . 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. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. LSbp's first site produced just 0.7 megawatts (MW) of solar power. I joined when it was just six people huddled around two laptops, and from that first moment the ethos was clear, Lightsource bp, a global leader in the development and management of solar energy projects, today announced the sale of five utility scale solar photovoltaic (PV). The anniversary of BP's investment in Europe's largest solar developer is coinciding with its announcement of expansion into Brazil, the latest step in the company's growing global footprint As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europe's largest solar developer. If you are passionate about accelerating the energy transition, and looking to join a global collaboration of team members focused on delivering sustainable power, visit our careers page to find out more about working at Lightsource bp. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. After all, 2017 was also the year in which renewable power grew by almost 20% higher than the 10-year average led by solar energy. All quotes delayed a minimum of 15 minutes. Lightsource bp is a global leader with local impact. Designed and developed at its research and development (R&D) centers in California and Ohio, First Solars responsibly produced advanced thin film PV modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC, We Want to Help the World Reach Net Zero and Improve People's Lives, Reliance and BP Move Forward with Indian Fuels Partnership., BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components, Press Release by BP and Reliance Industries Limited, BP International Limited ANNUAL REPORT and FINANCIAL, In the Superior Court of the State of Delaware, 1 Complaint Against BP in Respect of Violations of the OECD Guidelines, Plaintiffs' Response in Opposition to BP Motion, Energy Transition: Evolution Or Revolution? 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. Lightsource bp Renewable Energy Investments Limited. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. For more information on bp in the US, visit www.bp.com/us. You can find out more about which cookies we are using or switch them off in settings. 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. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Earlier this year, First Solar announced that it will invest $680 million to expand Americas domestic PV solar manufacturing capacity by 3.3GW annually, by building its third US manufacturing facility, in Lake Township, Ohio. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. Privately-owned Lightsource BP, which develops solar projects from their earliest stages, reported a turnover of 55.3 million pounds last year, compared with 40.7 million pounds a year earlier,. The ability to bring base load is something that a trading operation like BPs can deliver, Lightsource BP chief operating officer and co-founder Kareen Boutonnat said. 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. 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. 2023 Lightsource. 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. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. Lightsource and bp celebrate five-year anniversary. 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. (Loading)*. Here are some examples of how we performed in 2021. 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. 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. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. 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. Lightsource BP, rebranded from Lightsource Renewable Energy in 2018, is the largest solar developer in Europe, and third largest in the world outside of China. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page.
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