lightsource bp annual report lightsource bp annual report

Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Assist in contract negotiation and. Legal notice in relation to the material on this page. 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. GBp Find out more about our sustainability strategy and initatives. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. 382.4 KB, pdf / 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 . Oversee onboarding of new facilities. Lightsource and bp celebrate five-year anniversary. GBp The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. 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. Lightsource bp Renewable Energy Investments Limited. 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. You can find out more about which cookies we are using or switch them off in settings. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. And, if youre confident, you can put your head down and deliver. 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. 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,. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. All rights reserved. After submitting your request, you will receive an activation email to the requested email address. 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. *Market data delayed by 20 minutes. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. A year ago, Lightsource was the established solar leader in Europe. 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. You can change your cookie settings at any time. 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. for the year ended 31 December 2021. Choose a career where you are empowered to change the world! July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. of 25 cents each. Helge Lund, chair Chair's letter pdf / 264.7 KB Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. The ability to bring base load is something that a trading operation like BPs can deliver, Lightsource BP chief operating officer and co-founder Kareen Boutonnat said. 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 260-megawatt Impact . BP and Lightsource announced the partnership in December. ()*, GBp ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. of 1 each. (), USD BP p.l.c. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. Where we refer to the company, we mean BP p.l.c. TEMPE, Ariz., Nov. 22, 2021 (GLOBE NEWSWIRE) -- First Solar, Inc. (Nasdaq: FSLR) today announced that global solar leader Lightsource bp and integrated energy company bp have placed multi-year orders for up to 5.4 gigawatts (GW) combined of First Solars advanced, ultra-low carbon thin film photovoltaic (PV) solar modules. 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. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. The US solar industry is at an important inflection point where it must continue the charge towards delivering 45% of our countrys electricity by 2050 while addressing the risks and uncertainty posed by increasingly volatile solar panel production, pricing, and supply, said Georges Antoun, chief commercial officer, First Solar. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. Led by Emilie Wangerman, Lightsource bp's business development team supported bp in acquiring an additional 9 GW pipeline of projects from 7X Energy, Inc., which will be exclusively developed by Lightsource bp's U.S. team. Choose a career where you are empowered to change the world! 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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. 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. You've rejected analytics cookies. 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. This is where we come in. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. The Material does not (i) form part of the bp Annual Report and, pdf / 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. 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. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 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 is a global leader in utility-scale solar development and management. is the parent company of the bp group of companies. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. We use cookies to make our services work and collect analytics information. 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. We have always been driven, and our partnership with BP is a great enabler. 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. November Here are some examples of how we performed in 2021. The companys primary share listing is the London Stock Exchange. 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. With smaller pockets, comes a different approach. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. This website uses cookies so that we can provide you with the best user experience possible. 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 week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. Every region receives a tailored approach and is managed by a local team. 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. (), USD At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. Delivered by Investis. We are using cookies to give you the best experience on our website. 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. 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 recognise that the rising need for energy must be met through sustainable sources. 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. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). Lightsource bp is an international solar business. 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. 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. Back Submit . A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. Lightsource bp Renewable Energy Investments Limited. 260MW of affordable, clean and locally generated electricity for Texas communities. Our sector is fundamentally about financing. It is not even the beginning of the end. 2023 Lightsource. We know many ways in which to finance projects and understand the market for financing very differently.. 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. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. For more information please visit www.lightsourcebp.com. We use some essential cookies to make our services work. 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. Our team includes over 500 industry specialists, working across 15 countries. We power businesses and communities across the US with clean and affordable energy solutions. BPs shares linger near 25-year lows after it halved its dividend in August. The BP partnership has definitely given our whole team confidence, Brooks says. 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. 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. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. The company and each of its subsidiaries are separate legal entities. 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. The brand gives us a credibility that it would take 30 years to develop on our own. 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. (Loading)*. 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. 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. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. 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. 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. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. At Lightsource bp, weve been developing utility-scale solar projects since 2010. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. 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. Lightsource bp Renewable Energy Semiconductor Manufacturing . The modules, scheduled. 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. 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. We represent the opposite of that.. 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). 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. That's enough to power approximately 86,000 homes in New South Wales. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . 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. Delivered by Investis. The framework agreements, the largest in First Solars history, will provide modules scheduled to be delivered between 2023 and 2025 to support the companies solar development pipelines in the United States. 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. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. Doubling adjusted EBITDA, sustaining returns, focused on customers. 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. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. For First Solar Investors 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. You can find out more about which cookies we are using or switch them off in settings. 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. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. Group Results Fourth Quarter and Full Year 2019 Highlights. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. It makes good business sense, too. Procurement agreement with US-based manufacturer. And this week, Lightsource BP announces its presence in Brazil, meaning the business is now active in 10 countries up from just five only a year ago. We power businesses and communities across the US with clean and affordable energy solutions. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. Brooks has a Winston Churchill quote in mind: Now, this is not the end. 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. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. Ordinary shares are ordinary fully paid shares in BP p.l.c. (Loading)*. 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. Our Standards: The Thomson Reuters Trust Principles. 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. 2023 Lightsource. 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. 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. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. 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. 2023 Lightsource. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. 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. Report this post Report Report. 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. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com.