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. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. 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. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. 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). In just 11 months, the company has been awarded significant corporate power contracts in the US and Australia, entered the Egyptian energy market through a joint venture, and established a 500 million green energy infrastructure fund in India. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. For more information on bp in the US, visit www.bp.com/us. Lightsource bp is an international solar business. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). We are using cookies to give you the best experience on our website. 2023 Lightsource. 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. Every region receives a tailored approach and is managed by a local team. in 2001. 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. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. 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. 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. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. Building scale with capital discipline and returns focus. Lightsource bp Renewable Energy Investments Limited. This website uses cookies so that we can provide you with the best user experience possible. Lightsource bp is an international solar business. farmers and ranchers face increasing economic stress. 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. LSbp's first site produced just 0.7 megawatts (MW) of solar power. 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. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. of 1 each. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. And the next big steps are bigger projects and more volume. 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. The companys primary share listing is the London Stock Exchange. Post Online Media. But, while it is proud of projects that are bringing renewable energy to millions of homes in India, for example, the focus this year has been on laying the foundations for further growth, rather than simply building capacity. We continue to grow teams, partnerships and projects throughout the world. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. 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. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. For more information please visit www.lightsourcebp.com. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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. Brooks has a Winston Churchill quote in mind: Now, this is not the end. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. Lightsource bp Renewable Energy Investments Limited. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 The full details of our Gender Pay Gap Report 2018can be found here. Sustainability is integrated into our business strategy and operating model at every level. 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. Our sector is fundamentally about financing. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. 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. 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. 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. 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. With First Solars expansion in the United States and India and optimization of its existing fleet, the company anticipates that its nameplate manufacturing capacity will double to 16GW by 2024. Our success is built on more than just our solar projects. You can find out more about which cookies we are using or switch them off in settings. 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. 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. 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. 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. 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. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. 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. 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. are on pages 282-336. "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 website uses cookies so that we can provide you with the best user experience possible. Lightsource bp is a global leader in utility-scale solar development and management. 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. Choose a career where you are empowered to change the world! But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. 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. 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. The Material does not (i) form part of the bp Annual Report and, pdf / At Lightsource bp, weve been developing utility-scale solar projects since 2010. 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. 2018, The BP partnership has definitely given our whole team confidence. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. As Americas familyfarmers and ranchers face increasing economic stress, opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. In order to advance our purpose and ambition, we have identified three strategic focus areas, and weve set targets and aims against these out to 2025 and 2030. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. It makes good business sense, too. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. The parent company financial statements of BP p.l.c. 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. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. Procurement agreement with US-based manufacturer. We work with businesses and communities around the world to deliver low-carbon solar energy projects. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . They have a combination of technologies that effectively allows them to deliver for customers in different jurisdictions. ($1 = 0.7660 pounds) (Reporting by Ron Bousso; editing by Emelia Sithole-Matarise). Delivered by Investis. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. Lightsource and bp celebrate five-year anniversary. About First Solar, Inc. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. We use cookies to collect and analyse information on our site's performance and to enable the site to function. 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. 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. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. New Mexico The Directors remuneration report is on pages 116-141. This landmark solar industry procurement deal is a testimony to Lightsource bps exponential growth in the United States, and our confidence in First Solars technology, said Kevin Smith, chief executive officer, Americas, Lightsource bp. 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. First Solar, Inc. (NASDAQ: FSLR) today announced that global solar leader, Lightsource bp has placed an order for 4 gigawatts (GW)DC of advanced thin film solar modules. We have always been driven, and our partnership with BP is a great enabler. For First Solar Investors Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. BP are able to deliver more than just solar. We represent the opposite of that.. Lightsource bp Renewable Energy Investments Limited. It is not even the beginning of the end. 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 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. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Discover how we are creating a positive impact across energy, the environment and our people. You must click the activation link in order to complete your subscription. 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. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. In 2021 we started directly supplying customers in China with gas from liquefied natural gas (LNG) imported by bp, completing our first fully integrated gas value chain into the country. 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. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. 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 is a British company with headquarters in London, and offices in Madrid, Milan, Athens, San Francisco, Philadelphia, Mumbai, New Delhi, Cairo, Melbourne, Amsterdam, Bath, Belfast and Dublin. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. 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. *Market data delayed by 20 minutes. 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) Read story 28 Nov, 2022 COP 27: Meet the Lightsource bp delegation The rapid deployment of solar power on a vast scale is essential to limit global warming to 1.5C. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. All rights reserved. Delivered by Investis. 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. 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. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. As a business we care deeply about the impact of our projects, our culture and values, and our team members. These forward-looking statements are often characterized by the use of words such as estimate, expect, anticipate, project, plan, intend, seek, believe, forecast, foresee, likely, may, should, goal, target, might, will, could, predict, continue and the negative or plural of these words and other comparable terminology. 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. All quotes delayed a minimum of 15 minutes. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. Unless otherwise stated or the context otherwise requires, the term BP or "bp" and terms such as we, us and our are used for convenience to refer to one or more of the members of the bp group instead of identifying a particular entity or entities. Lightsource BP's initial goal was to use the oil giant's financial muscle to grow a 1.6 gigawatt pipeline of solar projects to a portfolio of 10GW of solar investments by 2023. Our team includes over 500 industry specialists, working across 15 countries. 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. Helge Lund, chair Chair's letter pdf / 264.7 KB 2023 Lightsource. Lightsource bp Renewable Energy Semiconductor Manufacturing . (), USD Where we refer to the company, we mean BP p.l.c. 260MW of affordable, clean and locally generated electricity for Texas communities. LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. This website uses cookies so that we can provide you with the best user experience possible. Our growth has been in maturing the organization and getting into a strong operating position for next year. November:expansion into Italy, Iberia and Brazil is announced. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. Here are some examples of how we performed in 2021. You've rejected analytics cookies. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. BATON ROUGE, La.-- ( BUSINESS WIRE )--Lightsource bp has successfully closed on a $533 million multi-project financing package and mobilized construction on its 345 megawatt (dc) Ventress Solar. bps finances are strong and resilient. 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. The brand gives us a credibility that it would take 30 years to develop on our own. You should not place undue reliance on these forward-looking statements. 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. 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. A year ago, Lightsource was the established solar leader in Europe. Lightsource bp Renewable Energy Investments Limited. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Legal notice in relation to the material on this page. 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.
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