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 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.. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana 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. 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 hiring Manager, Storage Application in Denver, Minnesota 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. (Loading), USD 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. 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. 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. It makes good business sense, too. BP and Lightsource announced the partnership in December. 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. 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. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. 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. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. 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. 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. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . Lightsource bp Places Multi-Year Order for 4 GW of First Solar Modules The deal on the Lightsource deal | News and insights | Home - bp global 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. 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. Privately-owned Lightsource BP, which develops solar projects from their earliest stages, reported a turnover of 55.3 million pounds last year, compared with 40.7 million pounds a year earlier,. 2023 Lightsource. Lightsource BP's initial goal was to use the oil giant's financial muscle to grow a 1.6 gigawatt pipeline of solar projects to a portfolio of 10GW of solar investments by 2023. The companys primary share listing is the London Stock Exchange. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. The great majority of this investment will fund Lightsource's. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar 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. 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. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. All quotes delayed a minimum of 15 minutes. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. 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. in 2001. GBp All rights reserved. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. Lightsource bp Renewable Energy Investments Limited. The parent company financial statements of BP p.l.c. 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. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. 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. Oversee onboarding of new facilities. 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. Choose a career where you are empowered to change the world! We believe that sustainability and social responsibility are crucial for long-term business success and this is embedded within our business model, holding us accountable to those principles. We are using cookies to give you the best experience on our website. Lightsource bp Renewable Energy Investments Limited. 2023 Lightsource. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 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. We work with businesses and communities around the world to deliver low-carbon solar energy projects. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. Our sector is fundamentally about financing. Contact info@lightsourcebp.com SOCIAL RESOURCES 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. Every region receives a tailored approach and is managed by a local team. 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. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 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. 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 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.. are on pages 282-336. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. Procurement agreement with US-based manufacturer. 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 . The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. of 1 each. 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. 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. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. 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 brand gives us a credibility that it would take 30 years to develop on our own. 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. 2023 Lightsource. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. 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. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. November You must click the activation link in order to complete your subscription. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Forward-looking statements are only predictions based on our current expectations and our projections about future events and therefore speak only as of the date of this release. It is not even the beginning of the end. Lightsource bp gets financing for massive Pointe - Business Report 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. The 260-megawatt Impact . Annual report | Investors | Home - bp global 8.3 MB. 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. Lightsource bp and bp Sign Multi-Year Agreement for up to Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. 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. 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 . LSbp's first site produced just 0.7 megawatts (MW) of solar power. The Directors remuneration report is on pages 116-141. And the next big steps are bigger projects and more volume. As a business we care deeply about the impact of our projects, our culture and values, and our team members. 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. This website uses cookies so that we can provide you with the best user experience possible. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Designed and developed at its research and development (R&D) centers in California and Ohio, First Solars responsibly produced advanced thin film PV modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. 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. Lightsource and BP Join Forces to Drive Growth in Solar Power You've accepted analytics cookies. This website uses cookies so that we can provide you with the best user experience possible. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. 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 projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. Find out more about our sustainability strategy and initatives. For more information please visit www.lightsourcebp.com. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. the Role of Oil and Gas, Sustainability Report 2020 Sustainability at Bp 2020 at a Glance Our Foundations Our Focus Areas Embedding Sustainability External Collaborations Our Reporting, Parent Company Financial Statements of BP P.L.C, DID YOU KNOW? * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. 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. (), USD 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. 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. Read story Prev 1 2 "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. February 27, 2023. (Loading)*. 382.4 KB, pdf / 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. High-grading our portfolio, lowering our emissions and driving returns. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. First Solar Investor Relations Sustainability is integrated into our business strategy and operating model at every level. This website uses cookies so that we can provide you with the best user experience possible. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. We know many ways in which to finance projects and understand the market for financing very differently.. 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. Lightsource bp is an international solar business. 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. 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 / For more information, please visit www.firstsolar.com. 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. At Lightsource bp, weve been developing utility-scale solar projects since 2010. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. is the parent company of the bp group of companies. The BP partnership has definitely given our whole team confidence, Brooks says. 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. I started in this business six years ago, when we were just finding our feet in the UK and a few hundred megawatts seemed a big ambition. About bp You can find out more about which cookies we are using or switch them off in settings. 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. See here for a complete list of exchanges and delays. In March 2016, Lightsource Renewable Energy successfully completed and connected Europes largest floating solar farm, installing 6.3MW on the Queen Elizabeth II Reservoir, near London. We are using cookies to give you the best experience on our website. You can find out more about which cookies we are using or switch them off in settings. Find out more about how Lightsource bp works and operates and our partnership with bp. For First Solar Investors 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. Construction on this project commenced in December 2019. It is just the start for us in Latin America, Souflis adds. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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. Sustainability is at our core. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. (Loading)*. 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. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. In a statement Thursday, Lightsource bp which oil. Lightsource bp | LinkedIn 2023 Lightsource. Lightsource bp Closes Financing Package and Mobilizes Construction on Lightsource bp pays for the first $800 of the monthly insurance premium. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. 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. ()*, GBp We represent the opposite of that.. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. Post Online Media. Lightsource bp launches Bighorn Solar project in Colorado - powering
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