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. You can find out more about which cookies we are using or switch them off in settings. 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. 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 . of 25 cents each. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. Home, Britoil, Lightsource BP, Llandarcy. 2.2 MB. 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. 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. 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. This is where we come in. Lightsource bp pays for the first $800 of the monthly insurance premium. 2023 Lightsource. investor@firstsolar.com First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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 the development and management of solar energy projects, and a 50:50 joint venture with bp. "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. You can find out more about which cookies we are using or switch them off in settings. 382.4 KB, pdf / 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. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. November:contracts are signed for 25MW of solar power in Western US. As a business we care deeply about the impact of our projects, our culture and values, and our team members. About bp 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. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. Lightsource bp Renewable Energy Investments Limited. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Lightsource bp Renewable Energy Investments Limited. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. Helge Lund, chair Chair's letter pdf / 264.7 KB Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. The BP partnership has definitely given our whole team confidence, Brooks says. 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,. A year ago, Lightsource was the established solar leader in Europe. are on pages 282-336. 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. 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. Legal notice in relation to the material on this page. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. We have always been driven, and our partnership with BP is a great enabler. At Lightsource bp, weve been developing utility-scale solar projects since 2010. 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. The modules, scheduled. We use cookies to collect and analyse information on our site's performance and to enable the site to function. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. Our team includes over 500 industry specialists, working across 15 countries. 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. And the next big steps are bigger projects and more volume. In a statement Thursday, Lightsource bp which oil. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. Contact info@lightsourcebp.com SOCIAL RESOURCES Here are some examples of how we performed in 2021. 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 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.. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 You've rejected analytics cookies. 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. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. Doubling adjusted EBITDA, sustaining returns, focused on customers. This website uses cookies so that we can provide you with the best user experience possible. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. 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 use cookies to collect and analyse information on our site's performance and to enable the site to function. Read more about supporting local communities, Procurement agreement with US-based manufacturer. November 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. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. Assist in contract negotiation and. Back Submit . To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. Our Standards: The Thomson Reuters Trust Principles. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. You can find out more about which cookies we are using or switch them off in settings. 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. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. Every region receives a tailored approach and is managed by a local team. We are using cookies to give you the best experience on our website. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . 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. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. Modern Slavery And Human Trafficking Statement. 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. I joined when it was just six people huddled around two laptops, and from that first moment the ethos was clear, Lightsource bp, a global leader in the development and management of solar energy projects, today announced the sale of five utility scale solar photovoltaic (PV). Sustainability is integrated into our business strategy and operating model at every level. 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. We are using cookies to give you the best experience on our website. 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. 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. 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. 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. We represent the opposite of that.. Choose a career where you are empowered to change the world! Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. This website uses cookies so that we can provide you with the best user experience possible. 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.. That's enough to power approximately 86,000 homes in New South Wales. in 2001. 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. Where we refer to the company, we mean BP p.l.c. The full details of our Gender Pay Gap Report 2018 can be found here. Looking ahead to 2019, Souflis and Brooks are set to continue assessing opportunities together in multiple countries where Lightsource BP has no presence, at the moment, but where solar makes sense and where the BP name provides a strategic advantage. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. The full details of our Gender Pay Gap Report 2018can be found here. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. 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. About First Solar, Inc. All rights reserved. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. ()*, GBp 2018, The BP partnership has definitely given our whole team confidence. This landmark solar industry procurement deal is a testimony to Lightsource bps exponential growth in the United States, and our confidence in First Solars technology, said Kevin Smith, chief executive officer, Americas, Lightsource bp. 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. 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. 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. Lightsource bp is an international solar business. 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. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. 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. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. Find out more about our sustainability strategy and initatives. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. 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. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. 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. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 2023 Lightsource. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. 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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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 wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. 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. 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. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. 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. The company and each of its subsidiaries are separate legal entities. 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. Our growth has been in maturing the organization and getting into a strong operating position for next year. With smaller pockets, comes a different approach. November:expansion into Italy, Iberia and Brazil is announced. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp.

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