(Loading)*. BP p.l.c. 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.. The BP partnership has definitely given our whole team confidence, Brooks says. Brazil is a massive market with huge potential. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The brand gives us a credibility that it would take 30 years to develop on our own. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. (Loading), USD About Lightsource bp Looking ahead to 2019, Souflis and Brooks are set to continue assessing opportunities together in multiple countries where Lightsource BP has no presence, at the moment, but where solar makes sense and where the BP name provides a strategic advantage. 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. 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. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. Choose a career where you are empowered to change the world! This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. Lightsource bp Financials | Craft.co It is just the start for us in Latin America, Souflis adds. 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. Owler Reports - Lightsource bp: Lightsource bp selling 1-GWp solar 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. February 27, 2023. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. Our team includes over 500 industry specialists, working across 15 countries. The company and each of its subsidiaries are separate legal entities. 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. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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). If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Our team includes over 500 industry specialists, working across 15 countries. Sustainability is integrated into our business strategy and operating model at every level. Lightsource bp Renewable Energy Semiconductor Manufacturing . of 1 each. Find out more about our sustainability strategy and initatives. Choose a career where you are empowered to change the world! These modules are a critical step in delivering our 9GW solar pipeline that will provide affordable energy, create jobs, bolster the supply chain and deliver the type of returns our investors expect. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. Lightsource bp Renewable Energy Investments Limited. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. November Lightsource bp Places Multi-Year Order for 4 GW of First Solar Modules Lightsource bp, a 50:50 joint venture with bp, unveiled the solar project that will help reduce emissions and support more than 1,000 jobs at EVRAZ's Pueblo steel mill - the world's first steel mill to be powered largely by solar energy. Lightsource BP starts operating massive solar project in North Texas 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 / Where we refer to the company, we mean BP p.l.c. The modules, scheduled. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . 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. *Market data delayed by 20 minutes. 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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. It is not even the beginning of the end. Find out more about how Lightsource bp works and operates and our partnership with bp. Lightsource BP: one year on and going global 8.3 MB. Lightsource bp pays for the first $800 of the monthly insurance premium. Lightsource bp launches Bighorn Solar project in Colorado - powering 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. We work with businesses and communities around the world to deliver low-carbon solar energy projects. 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. You can find out more about which cookies we are using or switch them off in settings. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. investor@firstsolar.com
We use cookies to collect and analyse information on our site's performance and to enable the site to function. Modern Slavery And Human Trafficking Statement. We power businesses and communities across the US with clean and affordable energy solutions. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. Procurement agreement with US-based manufacturer. 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 . 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. Delivered by Investis. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. It makes good business sense, too. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. We use cookies to collect and analyse information on our site's performance and to enable the site to function. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. 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 . 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. 2023 Lightsource. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. For more information on bp in the US, visit www.bp.com/us. 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. See here for a complete list of exchanges and delays. We know many ways in which to finance projects and understand the market for financing very differently.. High-grading our portfolio, lowering our emissions and driving returns. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. Weve just released our second annual Gender Pay Gap Report, which covers our gender differences in terms of population, pay and bonus levels from March 2017 to March 2018. 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. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. All rights reserved. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 And the next big steps are bigger projects and more volume. The Material does not (i) form part of the bp Annual Report and, pdf / Post Online Media. At Lightsource bp, weve been developing utility-scale solar projects since 2010. BP International Limited ANNUAL REPORT and FINANCIAL 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. Home - Lightsource bp If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Assist in contract negotiation and. 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 . Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. You should not place undue reliance on these forward-looking statements. 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. Developed at R&D labs in California and Ohio, the companys advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. 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. 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. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. Lightsource bp is a global leader in utility-scale solar development and management. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC, We Want to Help the World Reach Net Zero and Improve People's Lives, Reliance and BP Move Forward with Indian Fuels Partnership., BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components, Press Release by BP and Reliance Industries Limited, BP International Limited ANNUAL REPORT and FINANCIAL, In the Superior Court of the State of Delaware, 1 Complaint Against BP in Respect of Violations of the OECD Guidelines, Plaintiffs' Response in Opposition to BP Motion, Energy Transition: Evolution Or Revolution? Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. All rights reserved. We use some essential cookies to make our services work. 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. This website uses cookies so that we can provide you with the best user experience possible. 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. 382.4 KB, pdf / The parent company financial statements of BP p.l.c. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. Lightsource and BP Join Forces to Drive Growth in Solar Power Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. About First Solar, Inc. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. 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. (), USD Ordinary shares are ordinary fully paid shares in BP p.l.c. Construction on this project commenced in December 2019. 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 2023 Lightsource. And, if youre confident, you can put your head down and deliver. That's enough to power approximately 86,000 homes in New South Wales. All rights reserved. pdf / 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. Lightsource bp is an international solar business. *Market data delayed by 20 minutes. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. We are using cookies to give you the best experience on our website. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. Lightsource bp turns 10 | News and insights | Home 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. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. We are using cookies to give you the best experience on our website. 2023 Lightsource. If you experience any issues with this process, please contact us for further assistance. 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 represent the opposite of that.. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. We are using cookies to give you the best experience on our website. Lightsource BP - the solar developer 50% owned by the oil supermajor - announced a more than doubling in growth ambitions backed by a $1.8bn finance package as it hailed "a shift in mindset from gigawatts to terawatts" by the global renewables sector. 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. 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. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. 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. 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. Global leader in responsible solar development | Lightsource bp US But many BP investors have cast doubts over BPs vow that the renewables business could generate returns of 8% to 10%, higher than the sectors average of 5% to 6% in order to maintain and even grow shareholder payouts. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 The great majority of this investment will fund Lightsource's. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. 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. As a business we care deeply about the impact of our projects, our culture and values, and our team members. 2.2 MB. Lightsource bp launches Bighorn Solar project in Colorado - bp global Read story 28 Feb, 2023 You can find out more about which cookies we are using or switch them off in settings. 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. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. Lightsource bp Signs Power Contract With Amazon for a New 375 Megawatt In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. Our ability to help our customers manage these risks by providing long-term firm pricing and supply commitments, backed by First Solars reputation, is a key differentiator. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. Brooks has a Winston Churchill quote in mind: Now, this is not the end. We have always been driven, and our partnership with BP is a great enabler. 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. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. Lightsource bp is a global leader in utility-scale solar development and management. 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. 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. 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. For more information, please visit www.firstsolar.com. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. 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 . 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. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. Lightsource bp Renewable Energy Investments Limited. Group Results Fourth Quarter and Full Year 2019 Highlights. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. GBp BP and Lightsource announced the partnership in December. Read more about supporting local communities, Procurement agreement with US-based manufacturer. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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. 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. 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. For more information please visit www.lightsourcebp.com. 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.