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. This website uses cookies so that we can provide you with the best user experience possible. 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. You can change your cookie settings at any time. 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. 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. 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. bps finances are strong and resilient. Read story 28 Feb, 2023 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. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. investor@firstsolar.com
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. All rights reserved. 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. 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. BP p.l.c. And the next big steps are bigger projects and more volume. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). 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. 8.3 MB. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. We power businesses and communities across the US with clean and affordable energy solutions. See here for a complete list of exchanges and delays. 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 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. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. for the year ended 31 December 2021. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. 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. Lightsource bp pays for the first $800 of the monthly insurance premium. First Solar, Inc. (NASDAQ: FSLR) today announced that global solar leader, Lightsource bp has placed an order for 4 gigawatts (GW)DC of advanced thin film solar modules. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . There is going to be a huge amount of capital flow into new business models, he predicts. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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 / 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. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. 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. *Market data delayed by 20 minutes. For more information, please visit www.firstsolar.com. Lightsource bp is an international solar business. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 2023 Lightsource. 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. 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. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. 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. 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. 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. Group Results Fourth Quarter and Full Year 2019 Highlights. For more information on bp in the US, visit www.bp.com/us. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. Sustainability is at our core. As the company's shares, in the form of ADSs, are listed on the NYSE, an Annual Report on Form 20-F is filed with the SEC. Contact info@lightsourcebp.com SOCIAL RESOURCES in 2001. Assist in contract negotiation and. 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. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. 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. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. 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. 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. All rights reserved. Lightsource bp is a global leader in utility-scale solar development and management. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. 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. Lightsource bp is a global leader with local impact. Delivered by Investis. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. All rights reserved. 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. For First Solar Investors The full details of our Gender Pay Gap Report 2018 can be found here. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 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. 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. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . New Mexico 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. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. 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. 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. Solar Energy UK, the UKs solar trade association, has shone a light on new research that suggests that solar farms can contribute positively to food security. Please refer to the Cautionary statement on page 364 of the full bp Annual Report and Form 20-F 2021 for further information on forward-looking statements. (), USD 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. 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 . This website uses cookies so that we can provide you with the best user experience possible. When it joined RE100 in 2020, First Solar committed to powering 100 percent of its global manufacturing operations with renewable energy by 2028, with an interim goal of transitioning its facilities in the US to carbon-free electricity by 2026. of 1 each. 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. 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. After submitting your request, you will receive an activation email to the requested email address. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. 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. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. We are using cookies to give you the best experience on our website. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. 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. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. 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. We are using cookies to give you the best experience on our website. Procurement agreement with US-based manufacturer. Brazil is a massive market with huge potential. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 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. We know many ways in which to finance projects and understand the market for financing very differently.. 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. You can find out more about which cookies we are using or switch them off in settings. 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. BP and Lightsource announced the partnership in December. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. 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? 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. That's enough to power approximately 86,000 homes in New South Wales. 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. 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. Discover how we are creating a positive impact across energy, the environment and our people. 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. November:expansion into Italy, Iberia and Brazil is announced. We work with businesses and communities around the world to deliver low-carbon solar energy projects. 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. 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 and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana 260MW of affordable, clean and locally generated electricity for Texas communities. About bp 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. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. 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. We are using cookies to give you the best experience on our website. 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. 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. With smaller pockets, comes a different approach. of 25 cents each. 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? Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. 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). You've rejected analytics cookies. The modules, scheduled. It makes good business sense, too. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. Our purpose is to deliver affordable and sustainable solar. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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 and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. 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. 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. Where we refer to the company, we mean BP p.l.c. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 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 . 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 and bp celebrate five-year anniversary. 2023 Lightsource. 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. 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.
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