lightsource bp annual reportlightsource bp annual report

BP and Lightsource announced the partnership in December. 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. Lightsource bp Renewable Energy Semiconductor Manufacturing . Report this post Report Report. 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. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 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. About Lightsource bp Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. For First Solar Investors Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. You can find out more about which cookies we are using or switch them off in settings. 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 [email protected]. This website uses cookies so that we can provide you with the best user experience possible. All rights reserved. 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. Group Results Fourth Quarter and Full Year 2019 Highlights. With smaller pockets, comes a different approach. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. Were delighted that bp and Lightsource bp have placed their trust in us and our technology to help power their growth in the United States.. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. Find out more about us and how were working together to create a sustainable energy future for us all. 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 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. 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). 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. 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. Doubling adjusted EBITDA, sustaining returns, focused on customers. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. ()*, GBp 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. Our team includes over 500 industry specialists, working across 15 countries. Cookies also allow us and our partners to show you relevant ads when you visit our site and other 3rd party websites, including social networks. Lightsource BP, rebranded from Lightsource Renewable Energy in 2018, is the largest solar developer in Europe, and third largest in the world outside of China. You can change your cookie settings at any time. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. 2023 Lightsource. Read more about supporting local communities, Procurement agreement with US-based manufacturer. 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. November:contracts are signed for 25MW of solar power in Western US. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource bp is a global leader in utility-scale solar development and management. 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. At Lightsource bp, weve been developing utility-scale solar projects since 2010. BP p.l.c. 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 collect and analyse information on our site's performance and to enable the site to function. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. We are using cookies to give you the best experience on our website. There is going to be a huge amount of capital flow into new business models, he predicts. 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. 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. 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. The bp Annual Report and Form 20-F 2021 available for download on this webpage constitutes the Annual Report and Accounts in accordance with UK requirements and the Annual Report on Form 20-F in accordance with the US Securities Exchange Act of 1934, for BP p.l.c. (), USD 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. The great majority of this investment will fund Lightsource's. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 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. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. 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 business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. 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. November:expansion into Italy, Iberia and Brazil is announced. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. 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. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. BP are able to deliver more than just solar. For more information please visit www.lightsourcebp.com. 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. 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 . 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. bps finances are strong and resilient. For more information, please visit www.firstsolar.com. 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. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. Lightsource bp, a 50:50 joint venture with bp, unveiled the solar project that will help reduce emissions and support more than 1,000 jobs at EVRAZ's Pueblo steel mill - the world's first steel mill to be powered largely by solar energy. This website uses cookies so that we can provide you with the best user experience possible. We work with businesses and communities around the world to deliver low-carbon solar energy projects. 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 recognise that the rising need for energy must be met through sustainable sources. (), USD Lightsource bp Renewable Energy Investments Limited. February 27, 2023. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource bp is a global leader with local impact. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. 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. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. 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. 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 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. "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. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. 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. ()*, GBp The company and each of its subsidiaries are separate legal entities. 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. 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 . We use some essential cookies to make our services work. The full details of our Gender Pay Gap Report 2018 can be found here. 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. November In addition to its Ohio manufacturing facilities, First Solar also operates factories in Vietnam and Malaysia, and has previously announced plans to build a new 3.3GW factory in India that is expected to be commissioned in the second half of 2023. You can find out more about which cookies we are using or switch them off in settings. BP undoubtedly lends its global scale, built up over more than a century, to the partnership, opening doors and sharing its knowledge of operating in territories covering the US, India, Europe and the Middle East. 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. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. Find out more about how Lightsource bp works and operates and our partnership with bp. We are using cookies to give you the best experience on our website. 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.. GBp Our success is built on more than just our solar projects. 2023 Lightsource. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Find out more about our sustainability strategy and initatives. Oversee onboarding of new facilities. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. Ordinary shares are ordinary fully paid shares in BP p.l.c. 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. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. of 1 each. You should not place undue reliance on these forward-looking statements. About First Solar, Inc. (Loading), USD As a business, we also care deeply about our culture and values, invest in our teams, and place people and communities at the heart of the decisions we make. 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. You can change your cookie settings at any time. It makes good business sense, too. 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. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 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. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource bp pays for the first $800 of the monthly insurance premium. 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. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Helge Lund, chair Chair's letter pdf / 264.7 KB GBp BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. Lightsource bp Renewable Energy Investments Limited. bp is Americas largest energy investor since 2005, investing more than $130 billion in the economy and supporting about 230,000 additional jobs through its business activities. 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. 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. You must click the activation link in order to complete your subscription. 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. We represent the opposite of that.. 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. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing [email protected]. You can find out more about which cookies we are using or switch them off in settings. 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. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. And, if youre confident, you can put your head down and deliver. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. 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 AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana We have always been driven, and our partnership with BP is a great enabler. Contact [email protected] SOCIAL RESOURCES If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing [email protected]. Here are some examples of how we performed in 2021. 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. 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. 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. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. 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. Post Online Media. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. Partnerships are a key part of our approach, enabling better and faster utilization of our network. Lightsource bp is an international solar business. Lightsource bp Renewable Energy Investments Limited. 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. 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. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. 2023 Lightsource. Our growth has been in maturing the organization and getting into a strong operating position for next year. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 2018, The BP partnership has definitely given our whole team confidence. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Lightsource and bp celebrate five-year anniversary. Choose a career where you are empowered to change the world! If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. 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 . Estimated to abate 204,000 metric tons of carbon dioxide (CO2) emissions each year, equivalent to annual emissions from about 44,000 fuel burning cars. 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. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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. 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. After submitting your request, you will receive an activation email to the requested email address. We continue to grow teams, partnerships and projects throughout the world. Lightsource bp Renewable Energy Investments Limited. You can sign up for additional alert options at any time. 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.

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