lightsource bp annual report

Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. in 2001. *Market data delayed by 20 minutes. 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. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. 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. Find out more about how Lightsource bp works and operates and our partnership with bp. 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. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. 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). Every region receives a tailored approach and is managed by a local team. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. 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. 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. We are using cookies to give you the best experience on our website. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 2023 Lightsource. The Material does not (i) form part of the bp Annual Report and, pdf / 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. 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. 264.7 KB. The modules, scheduled. 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. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. (Loading)*. We have always been driven, and our partnership with BP is a great enabler. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. February 27, 2023. Lightsource bp is a global leader in utility-scale solar development and management. We work with businesses and communities around the world to deliver low-carbon solar energy projects. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. For more information, please visit www.firstsolar.com. (), USD Our sector is fundamentally about financing. 2023 Lightsource. We use some essential cookies to make our services work. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. 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. 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. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. for the year ended 31 December 2021. 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.. is the parent company of the bp group of companies. 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 . 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. All rights reserved. Lightsource bp is a global leader with local impact. Read story Prev 1 2 But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. If you experience any issues with this process, please contact us for further assistance. 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. Delivered by Investis. Lightsource bp is an international solar business. Building scale with capital discipline and returns focus. 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. 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. First Solar Investor Relations November:contracts are signed for 25MW of solar power in Western US. 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. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. 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. (), USD 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 Renewable Energy Investments Limited. Actual results may differ materially from those expressed in such statements depending on a variety of factors. 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. Home, Britoil, Lightsource BP, Llandarcy. With smaller pockets, comes a different approach. 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. Sustainability is integrated into our business strategy and operating model at every level. This result is much lower than the UK average (this year 8.6% in favour of men), and is largely due to the composition of our workforce. Discover how we are creating a positive impact across energy, the environment and our people. At Lightsource bp, weve been developing utility-scale solar projects since 2010. Our team includes over 500 industry specialists, working across 15 countries. 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. Ordinary shares are ordinary fully paid shares in BP p.l.c. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. You can sign up for additional alert options at any time. 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. About First Solar, Inc. 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. After submitting your request, you will receive an activation email to the requested email address. New Mexico November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. 2018, The BP partnership has definitely given our whole team confidence. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These provide the basis for a common set of enduring objectives for bp as we transform the organization consistent with the long-term energy transition. LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity 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. Back Submit . As a business we care deeply about the impact of our projects, our culture and values, and our team members. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. 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. We are using cookies to give you the best experience on our website. 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. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. Read story 28 Feb, 2023 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 . Our purpose is to deliver affordable and sustainable solar. The brand gives us a credibility that it would take 30 years to develop on our own. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. 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. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. Lightsource and bp celebrate five-year anniversary. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. Lightsource bp has agreed to procure up to 4.3GWDC of modules for its US utility-scale projects, and bp will procure up to 1.1GWDC to power their projects being developed by Lightsource bp. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. (Loading)*. Here are some examples of how we performed in 2021. 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. 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. The great majority of this investment will fund Lightsource's. It is just the start for us in Latin America, Souflis adds. The material on the bp Annual Report webpage (the Material) relates to the year ended 31 December 2021 and is provided for general information only. We 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. 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. We power businesses and communities across the US with clean and affordable energy solutions. 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. December 2022 marks five years since bp and Lightsource entered into a partnership to become Lightsource bp a 50:50 joint venture between the companies. 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. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. Partnerships are a key part of our approach, enabling better and faster utilization of our network. Choose a career where you are empowered to change the world! 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, 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. We power businesses and communities across the US with clean and affordable energy solutions. 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. 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. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 260MW of affordable, clean and locally generated electricity for Texas communities. BP International Limited. 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. Lightsource bp pays for the first $800 of the monthly insurance premium. 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. BP p.l.c. Lightsource and bp celebrate five-year anniversary. 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. Oversee onboarding of new facilities. 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 . 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 companys primary share listing is the London Stock Exchange. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. 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. 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. 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. Modern Slavery And Human Trafficking Statement. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. 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. We are using cookies to give you the best experience on our website. For more information please visit www.lightsourcebp.com. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. 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 / Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Report this post Report Report. You can change your cookie settings at any time. LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED, for LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED (09494479), (of the document filed at Companies House), Companies House does not verify the accuracy of the information filed. 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. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. 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. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. 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. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. 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. Brooks has a Winston Churchill quote in mind: Now, this is not the end. 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. Helge Lund, chair Chair's letter pdf / 264.7 KB Lightsource bp is a global leader in utility-scale solar development and management. All quotes delayed a minimum of 15 minutes. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. November 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. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . This website uses cookies so that we can provide you with the best user experience possible. 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. LSbp's first site produced just 0.7 megawatts (MW) of solar power. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets.

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