August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. November:contracts are signed for 25MW of solar power in Western US. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. You can change your cookie settings at any time. 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. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. 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. November 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. 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. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. We power businesses and communities across the US with clean and affordable energy solutions. You can find out more about which cookies we are using or switch them off in settings. 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. 2023 Lightsource. 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. 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. As Americas familyfarmers and ranchers face increasing economic stress, opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Oversee onboarding of new facilities. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 382.4 KB, pdf / Every region receives a tailored approach and is managed by a local team. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. (Loading), USD 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. (), USD (Loading), USD What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. 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. The companys primary share listing is the London Stock Exchange. Building scale with capital discipline and returns focus. 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. 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. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. 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. 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. Brazil is a massive market with huge potential. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. 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. The Directors remuneration report is on pages 116-141. See here for a complete list of exchanges and delays. 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. 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'd also like to use analytics cookies so we can understand how you use our services and to make improvements. Doubling adjusted EBITDA, sustaining returns, focused on customers. This is where we come in. 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. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. for the year ended 31 December 2021. 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. That's enough to power approximately 86,000 homes in New South Wales. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. 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. The great majority of this investment will fund Lightsource's. The full details of our Gender Pay Gap Report 2018can be found here. 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. Our team includes over 500 industry specialists, working across 15 countries. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. 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. It is just the start for us in Latin America, Souflis adds. Our Standards: The Thomson Reuters Trust Principles. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. 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. We are using cookies to give you the best experience on our website. Read story 28 Feb, 2023 Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. 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 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 companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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. 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. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. Helge Lund, chair Chair's letter pdf / 264.7 KB 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. Sustainability is at our core. The 260-megawatt Impact . You must click the activation link in order to complete your subscription. Lightsource bp Renewable Energy Investments Limited. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. 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. 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. 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. To obtain a hard printed copy of bps 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. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. 260MW of affordable, clean and locally generated electricity for Texas communities. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. 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. Lightsource bp Renewable Energy Semiconductor Manufacturing . In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. 2023 Lightsource. 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 . farmers and ranchers face increasing economic stress. 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. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. (), USD Construction on this project commenced in December 2019. 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. 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.. of 1 each. LSbp's first site produced just 0.7 megawatts (MW) of solar power. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. 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. BP and Lightsource announced the partnership in December. After submitting your request, you will receive an activation email to the requested email address. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. 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. 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. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Find out more about our sustainability strategy and initatives. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. This website uses cookies so that we can provide you with the best user experience possible. 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. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. First Solar Investor Relations
From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. In a statement Thursday, Lightsource bp which oil. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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 Renewable Energy Investments Limited. 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. are on pages 282-336. 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. 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. 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 are using cookies to give you the best experience on our website. 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. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. 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. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. We power businesses and communities across the US with clean and affordable energy solutions. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. Legal notice in relation to the material on this page. For more information on bp in the US, visit www.bp.com/us. 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. 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. 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. Our success is built on more than just our solar projects. It also translates into competitively priced electricity for our customers., Felipe Arbelaez, bps senior vice president of zero carbon energy, added: To help reach our net zero ambition and develop 50GW of renewable power by the end of this decade, we continue to invest in clean, reliable energy in the US. Unless otherwise stated or the context otherwise requires, the term BP or "bp" and terms such as we, us and our are used for convenience to refer to one or more of the members of the bp group instead of identifying a particular entity or entities. 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. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. *Market data delayed by 20 minutes. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. The Material does not (i) form part of the bp Annual Report and, pdf / 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. 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. All rights reserved. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. You can find out more about which cookies we are using or switch them off in settings. Partnerships are a key part of our approach, enabling better and faster utilization of our network. 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. 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. As we continue to grow and progress our 10GW development pipeline across America, in addition to our partner bps 9GWs, executing significant long-term procurement agreements with bankable, world class suppliers like First Solar enables us to deliver on our growth plans and industry-leading global target of 25GW of solar by 2025.
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