Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. 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. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. Ordinary shares are ordinary fully paid shares in BP p.l.c. 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. Discover how we are creating a positive impact across energy, the environment and our people. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . We use some essential cookies to make our services work. February 27, 2023. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. Lightsource bp is a global leader with local impact. 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. 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. 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. Choose a career where you are empowered to change the world! Despite this years impressive results, were not complacent well continue working hard to make sure that equality and fairness is at the heart of our company policies and practices. 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. For more information, please visit www.firstsolar.com. Where we refer to the company, we mean BP p.l.c. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. We are using cookies to give you the best experience on our website. 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 . Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. 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. 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 sign up for additional alert options at any time. 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. In 1910, the steel mill, then known as The Colorado Fuel and Iron Company, employed approximately 15,000 people, or about one-tenth of the entire Colorado workforce, according to the Colorado Encyclopedia and later was the . The full details of our Gender Pay Gap Report 2018 can be found here. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). Delivered by Investis. Our team includes over 500 industry specialists, working across 15 countries. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. bps finances are strong and resilient. This website uses cookies so that we can provide you with the best user experience possible. All rights reserved. See here for a complete list of exchanges and delays. 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, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. 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. Lightsource bp Renewable Energy Investments Limited. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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 . 2023 Lightsource. 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 . 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. Building scale with capital discipline and returns focus. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . 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,. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. 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. ()*, GBp 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. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. in 2001. 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. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. Post Online Media. We power businesses and communities across the US with clean and affordable energy solutions. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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. We are using cookies to give you the best experience on our website. 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. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. This website uses cookies so that we can provide you with the best user experience possible. 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. We work with businesses and communities around the world to deliver low-carbon solar energy projects. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. 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. The former Goldman Sachs principal and investor went from finance to an operating business because: I have an enormous personal conviction about the energy transition and the ability to have a real impact.. November:expansion into Italy, Iberia and Brazil is announced. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. 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. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Home, Britoil, Lightsource BP, Llandarcy. *Market data delayed by 20 minutes. 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. 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. 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. 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. 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. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. Lightsource bp is a global leader in utility-scale solar development and management. That's enough to power approximately 86,000 homes in New South Wales. 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. The company and each of its subsidiaries are separate legal entities. 264.7 KB. 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. 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. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. 8.3 MB. BP p.l.c. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. BP are able to deliver more than just solar. LSbp's first site produced just 0.7 megawatts (MW) of solar power. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. 2023 Lightsource. 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. This website uses cookies so that we can provide you with the best user experience possible. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. Report this post Report Report. 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. 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. Lightsource and bp celebrate five-year anniversary. Our Standards: The Thomson Reuters Trust Principles. 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. 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. ()*, GBp It is just the start for us in Latin America, Souflis adds. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. BP and Lightsource announced the partnership in December. Lightsource bp Renewable Energy Investments Limited. 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. are on pages 282-336. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. For First Solar Investors 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. 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. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. Delivered by Investis. 382.4 KB, pdf / Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Modern Slavery And Human Trafficking Statement. 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 is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. At Lightsource bp, weve been developing utility-scale solar projects since 2010. Brooks has a Winston Churchill quote in mind: Now, this is not the end. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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. Find out more about us and how were working together to create a sustainable energy future for us all. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. 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. 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. farmers and ranchers face increasing economic stress. 2018, The BP partnership has definitely given our whole team confidence. Choose a career where you are empowered to change the world! (Loading)*. You can change your cookie settings at any time. In a statement Thursday, Lightsource bp which oil. The Material does not (i) form part of the bp Annual Report and, pdf / Brazil is a massive market with huge potential. Sustainability is at our core. 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. Our team includes over 500 industry specialists, working across 15 countries. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. 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. 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 consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. 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 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. for the year ended 31 December 2021. 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. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. Find out more about our sustainability strategy and initatives. Here are some examples of how we performed in 2021. 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. 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. 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. You've accepted analytics cookies. 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 . For more information please visit www.lightsourcebp.com. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. You can find out more about which cookies we are using or switch them off in settings. 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. 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 use cookies to make our services work and collect analytics information. 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. We power businesses and communities across the US with clean and affordable energy solutions. 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. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. It makes good business sense, too. 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. We know many ways in which to finance projects and understand the market for financing very differently.. 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. November:contracts are signed for 25MW of solar power in Western US. There is going to be a huge amount of capital flow into new business models, he predicts. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. (), USD This is exactly the type of energy we want to develop and deliver as we continue to build out our renewable pipeline and ultimately strengthen confidence in our target of delivering 20GW of developed renewables by 2025.. The great majority of this investment will fund Lightsource's. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana GBp 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. 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. 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. 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. Lightsource bp is an international solar business. We represent the opposite of that.. 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. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. We are using cookies to give you the best experience on our website. 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 is where we come in. 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. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 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. investor@firstsolar.com 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. Read more about supporting local communities, Procurement agreement with US-based manufacturer. 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, 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. 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.
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