About bp Choose a career where you are empowered to change the world! This drives our commitment and continued effort to integrate sustainable business practices into everything we do. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. 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. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. All quotes delayed a minimum of 15 minutes. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. *Market data delayed by 20 minutes. are on pages 282-336. 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. Construction on this project commenced in December 2019. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. 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. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. 2023 Lightsource. It is an existing key geography for BP, too, and we already are seeing huge opportunity, says Vlasios Souflis, Lightsource BPs international business development director, who is heading up this latest market entry into Latin America. 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. 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. The Directors remuneration report is on pages 116-141. 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. You can find out more about which cookies we are using or switch them off in settings. We represent the opposite of that.. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. 2023 Lightsource. 2023 Lightsource. 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. 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.. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. 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. Helge Lund, chair Chair's letter pdf / 264.7 KB And the next big steps are bigger projects and more volume. About First Solar, Inc. Brazil is a massive market with huge potential. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. 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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. 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 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 . February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. The parent company financial statements of BP p.l.c. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie 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. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. 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. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. Sustainability is integrated into our business strategy and operating model at every level. 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. 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. 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. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. The full details of our Gender Pay Gap Report 2018can be found here. 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. (), USD of 1 each. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 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. Post Online Media. Report this post Report Report. 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. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. 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). 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. That's enough to power approximately 86,000 homes in New South Wales. Brooks has a Winston Churchill quote in mind: Now, this is not the end. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. The Material does not (i) form part of the bp Annual Report and, pdf / 260MW of affordable, clean and locally generated electricity for Texas communities. 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. Partnerships are a key part of our approach, enabling better and faster utilization of our network. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. 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. This landmark solar industry procurement deal is a testimony to Lightsource bps exponential growth in the United States, and our confidence in First Solars technology, said Kevin Smith, chief executive officer, Americas, Lightsource bp. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. 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. Our purpose is to deliver affordable and sustainable solar. 382.4 KB, pdf / ()*, GBp Choose a career where you are empowered to change the world! Every region receives a tailored approach and is managed by a local team. 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. You can sign up for additional alert options at any time. New Mexico farmers and ranchers face increasing economic stress. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. We are using cookies to give you the best experience on our website. Lightsource bp Renewable Energy Investments Limited. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. 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. We have always been driven, and our partnership with BP is a great enabler. Building scale with capital discipline and returns focus. "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. 8.3 MB. Group Results Fourth Quarter and Full Year 2019 Highlights. 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. 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. The modules, scheduled. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. Assist in contract negotiation and. Back Submit . In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. Read story 28 Feb, 2023 Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. (Loading)*. 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. 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. 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. All rights reserved. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. You've rejected analytics cookies. Find out more about how Lightsource bp works and operates and our partnership with bp. The brand gives us a credibility that it would take 30 years to develop on our own. in 2001. 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. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . First Solar Investor Relations
The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Lightsource bp Renewable Energy Semiconductor Manufacturing . In a statement Thursday, Lightsource bp which oil. 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. 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 know many ways in which to finance projects and understand the market for financing very differently.. It makes good business sense, too. For more information, please visit www.firstsolar.com. 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. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. of 25 cents each. Read more about supporting local communities, Procurement agreement with US-based manufacturer. 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. 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 / Lightsource bp Renewable Energy Investments Limited. 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. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. All rights reserved. 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 . Where we refer to the company, we mean BP p.l.c. You can find out more about which cookies we are using or switch them off in settings. 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. Actual results may differ materially from those expressed in such statements depending on a variety of factors. 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. (Loading), USD The 260-megawatt Impact . Doubling adjusted EBITDA, sustaining returns, focused on customers. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. You can find out more about which cookies we are using or switch them off in settings. 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. About Lightsource bp Lightsource bp, a 50:50 joint venture with bp, unveiled the solar project that will help reduce emissions and support more than 1,000 jobs at EVRAZ's Pueblo steel mill - the world's first steel mill to be powered largely by solar energy. Our 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 . The companys primary share listing is the London Stock Exchange. 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. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. We are using cookies to give you the best experience on our website. BP p.l.c. 2018, The BP partnership has definitely given our whole team confidence. 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.