which is equivalent to the annual demand of approximately 36,000 New Zealand homes. In a statement Thursday, Lightsource bp which oil. We are using cookies to give you the best experience on our website. Lightsource BP, like rivals including Frances Total , sees further opportunities for profits from selling solar and wind power projects it had developed from early stages. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. 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. GBp 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. 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. 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 . (Loading), USD 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. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. Procurement agreement with US-based manufacturer. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. BP and Lightsource announced the partnership in December. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. After submitting your request, you will receive an activation email to the requested email address. 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 and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. 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. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. 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. 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. 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. Building scale with capital discipline and returns focus. 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.. 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. Report this post Report Report. We are using cookies to give you the best experience on our website. Discover how we are creating a positive impact across energy, the environment and our people. Brazil is a massive market with huge potential. Lightsource bp is an international solar business. 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. bps finances are strong and resilient. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. 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. This website uses cookies so that we can provide you with the best user experience possible. Post Online Media. 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. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. All rights reserved. First Solar is a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. 2023 Lightsource. 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. 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. (Loading), 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 Directors statements (comprising the Statement of directors responsibilities; Risk management and internal control; Longer-term viability; Going concern; and Fair, balanced and understandable), the independent auditors report on the annual report and accounts to the members of BP p.l.c., the parent company financial statements of BP p.l.c. November 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.. We use cookies to make our services work and collect analytics information. This website uses cookies so that we can provide you with the best user experience possible. This website uses cookies so that we can provide you with the best user experience possible. 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. Contact info@lightsourcebp.com SOCIAL RESOURCES Our gigawatt-approach to solar provides many benefits to our partners worldwide by leveraging economies of scale, ethical and sustainable procurement, and continuous improvement on quality and efficiency. 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. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. 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. 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. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. 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. We are using cookies to give you the best experience on our website. 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. 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. 2023 Lightsource. All rights reserved. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. Ordinary shares are ordinary fully paid shares in BP p.l.c. We use cookies to collect and analyse information on our site's performance and to enable the site to function. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. BPs shares linger near 25-year lows after it halved its dividend in August. 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. 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. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. 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. "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. Construction on this project commenced in December 2019. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. Partnerships are a key part of our approach, enabling better and faster utilization of our network. About bp Weve made a number of new hires across the Group, and the number of women in higher paying roles has increased, which is something were very proud of. 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. 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. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. 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. 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. 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. 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. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. The Strategic report and the Directors report together include the management report required by DTR 4.1 of the UK Financial Conduct Authoritys Disclosure Guidance and Transparency Rules. Doubling adjusted EBITDA, sustaining returns, focused on customers. 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. 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. 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. The full details of our Gender Pay Gap Report 2018 can be found here. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. 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 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. 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. Lightsource bp is a global leader with local impact. 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.. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. And, if youre confident, you can put your head down and deliver. 2018, The BP partnership has definitely given our whole team confidence. See here for a complete list of exchanges and delays. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. The 260-megawatt Impact . The modules, scheduled. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. 382.4 KB, pdf / But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. It is just the start for us in Latin America, Souflis adds. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. About Lightsource bp 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. 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. All quotes delayed a minimum of 15 minutes. November:expansion into Italy, Iberia and Brazil is announced. 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. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. Lightsource bp Renewable Energy Investments Limited. 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. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. Oil and gas will remain BPs largest source of income over the coming decade which will help pay for the shift to low-carbon energy. We 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. This website uses cookies so that we can provide you with the best user experience possible. 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. It makes good business sense, too. 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. 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. We use cookies to collect and analyse information on our site's performance and to enable the site to function. 2023 Lightsource. 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. The Directors remuneration report is on pages 116-141. Our team includes over 500 industry specialists, working across 15 countries. Our team includes over 500 industry specialists, working across 15 countries. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. 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 on bp in the US, visit www.bp.com/us. Lightsource bp is an international solar business. Our employees are drivers of our success, as is our status as a fair employee with a track record of gender equity in hiring and compensation. 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. 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 company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. You can find out more about which cookies we are using or switch them off in settings. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Lightsource bp Renewable Energy Investments Limited. 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. The full details of our Gender Pay Gap Report 2018can be found here. We recognise that the rising need for energy must be met through sustainable sources. About First Solar, Inc. 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. 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. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. 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. BP are able to deliver more than just solar. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. 2023 Lightsource. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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. Lightsource BP, rebranded from Lightsource Renewable Energy in 2018, is the largest solar developer in Europe, and third largest in the world outside of China. 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. 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. We are using cookies to give you the best experience on our website. All rights reserved. You can find out more about which cookies we are using or switch them off in settings. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Oversee onboarding of new facilities. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. 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?
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