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Lightsource bp Renewable Energy Investments Limited. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. 2.2 MB. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. We power businesses and communities across the US with clean and affordable energy solutions. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. 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. Senior Manager O&M, United States - Lightsource bp - LinkedIn Home - Lightsource bp Ordinary shares are ordinary fully paid shares in BP p.l.c. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. Annual report | Investors | Home - bp global 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. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . 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. 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. 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. The full details of our Gender Pay Gap Report 2018can be found here. 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? This website uses cookies so that we can provide you with the best user experience possible. 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. Read story 28 Feb, 2023 Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. We are using cookies to give you the best experience on our website. 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. 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. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. Information in the bp Annual Report and Form 20-F 2021 reflects 100% of the assets and operations of the company and its subsidiaries that were consolidated at the date or for the periods indicated, including non-controlling interests. You can find out more about which cookies we are using or switch them off in settings. 2023 Lightsource. We are using cookies to give you the best experience on our website. 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. 'The potential for solar is huge': future looks bright for Lightsource BP News & insights | Lightsource bp Will stimulate local economy by bringing an estimated $30 million in new revenue to the . Lightsource bp Financials | Craft.co All rights reserved. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 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. Lightsource bp Signs Power Contract With Amazon for a New 375 Megawatt Partnerships are a key part of our approach, enabling better and faster utilization of our network. (), USD Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. 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. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. We know many ways in which to finance projects and understand the market for financing very differently.. In addition to the multi-year module sales agreement, First Solar also signed a memorandum of understanding (MoU) to explore opportunities to source electricity from generation assets developed, owned and operated by Lightsource bp in Ohio, where First Solar operates the Western Hemispheres largest solar manufacturing footprint. (), USD 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. We use cookies to collect and analyse information on our site's performance and to enable the site to function. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Lightsource and BP Join Forces to Drive Growth in Solar Power About bp 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. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. Lightsource bp gets financing for massive Pointe - Business Report Lightsource bp hiring Manager, Storage Application in Denver, Minnesota This website uses cookies so that we can provide you with the best user experience possible. We use some essential cookies to make our services work. 264.7 KB. 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. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. Brazil is a massive market with huge potential. For more information on bp in the US, visit www.bp.com/us. This website uses cookies so that we can provide you with the best user experience possible. The bp Annual Report and Form 20-F 2021 contains the Strategic report on the inside front cover and pages 1-80 and the Directors report on pages 81-115, 116 (in part only), 142-143, 254-281 and 337-388. The goal was to take the UK-based business global and, one year on, the Lightsource BP partnership has more than doubled its footprint around the world and has just announced a move into renewables-friendly Brazil, where the market potential for solar is huge. 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. 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. The BP partnership has definitely given our whole team confidence, Brooks says. BP are able to deliver more than just solar. 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 team includes over 500 industry specialists, working across 15 countries. 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. 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. Home | Lightsource bp 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). Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. Read story Prev 1 2 Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. The brand gives us a credibility that it would take 30 years to develop on our own. You can find out more about which cookies we are using or switch them off in settings. 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. the Role of Oil and Gas, Sustainability Report 2020 Sustainability at Bp 2020 at a Glance Our Foundations Our Focus Areas Embedding Sustainability External Collaborations Our Reporting, Parent Company Financial Statements of BP P.L.C, DID YOU KNOW? Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. You can find out more about which cookies we are using or switch them off in settings. 2023 Lightsource. Our growth has been in maturing the organization and getting into a strong operating position for next year. Owler Reports - Lightsource bp: Lightsource bp selling 1-GWp solar 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. After submitting your request, you will receive an activation email to the requested email address. We use cookies to collect and analyse information on our site's performance and to enable the site to function. Sustainability is at our core. Delivered by Investis. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Our sector is fundamentally about financing. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. The modules, scheduled. All rights reserved. Lightsource bp launches Bighorn Solar project in Colorado - bp global 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 . But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. is the parent company of the bp group of companies. (Loading), USD 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. 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. 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. 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. 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. You can change your cookie settings at any time. Back Submit . 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. 382.4 KB, pdf / 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. Delivered by Investis. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Lightsource and bp celebrate five-year anniversary. 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. The US solar industry is at an important inflection point where it must continue the charge towards delivering 45% of our countrys electricity by 2050 while addressing the risks and uncertainty posed by increasingly volatile solar panel production, pricing, and supply, said Georges Antoun, chief commercial officer, First Solar. 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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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 . 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. It, however, recorded an operating loss of 24.5 million pounds in 2019 compared with a 15 million pound loss a year earlier, as a result of higher investments in new projects. Our purpose is to deliver affordable and sustainable solar. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. Lightsource bp | What we do | Home - United States 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. All rights reserved. At Lightsource bp, weve been developing utility-scale solar projects since 2010. 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. 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. 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. 2023 Lightsource. 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 / 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. About Lightsource bp At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. 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. Report this post Report Report. 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. You can find out more about which cookies we are using or switch them off in settings. You can find out more about which cookies we are using or switch them off in settings. Annual Gender Pay Gap Report Published in the UK | Lightsource bp The company and each of its subsidiaries are separate legal entities. New Mexico Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana 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. 'Terawatts mindset' as Lightsource BP bags $1.8bn to double solar GBp 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. The parent company financial statements of BP p.l.c. Lightsource bp pays for the first $800 of the monthly insurance premium. 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. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. Lightsource bp | LinkedIn 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. You can sign up for additional alert options at any time. Sustainability is integrated into our business strategy and operating model at every level. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. (Loading)*. Where we refer to the company, we mean BP p.l.c. 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. For more information, please visit www.firstsolar.com. Post Online Media. 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. November We use cookies to make our services work and collect analytics information. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. All rights reserved. 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. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. 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. 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. BPs shares linger near 25-year lows after it halved its dividend in August. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 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. 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. 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.