Lightsource bp and bp have signed a multi-year agreement for up to 5.4 gigawatts of First Solar modules to be delivered between 2023 and 2025 (Photo: Lightsource bp) Order includes up to 4.3GW for . 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. This website uses cookies so that we can provide you with the best user experience possible. 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. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. 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 sector is fundamentally about financing. 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. We use cookies to make our services work and collect analytics information. The Directors remuneration report is on pages 116-141. This website uses cookies so that we can provide you with the best user experience possible. COLUMBUS, Ohio-- ( BUSINESS WIRE )--Lightsource bp has executed a power purchase agreement with Amazon for a new 375 megawatt (MWdc) solar project under development in Ohio, as part of Amazon's. 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. 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. BP International Limited. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. 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. Report this post Report Report. 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. 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. Our Standards: The Thomson Reuters Trust Principles. 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. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. Together with our 50:50 joint venture partner bp, we are reimagining energy and enacting real change on the energy landscape, not just in the USA, but all over the world. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. You must click the activation link in order to complete your subscription. 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. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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.. 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). Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. In 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. 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. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. 264.7 KB. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. Every region receives a tailored approach and is managed by a local team. 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 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. 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. 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. 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. After submitting your request, you will receive an activation email to the requested email address. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. 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. 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 . Our team includes over 500 industry specialists, working across 15 countries. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. Lightsource bp Renewable Energy Investments Limited. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. 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. BP p.l.c. Brooks has a Winston Churchill quote in mind: Now, this is not the end. *Market data delayed by 20 minutes. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. 2023 Lightsource. Legal notice in relation to the material on this page. 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. 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. GBp 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. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. Read more about supporting local communities, Procurement agreement with US-based manufacturer. 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. 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. 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. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. Lightsource bp is a global leader with local impact. 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 . 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. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. Building scale with capital discipline and returns focus. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 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. (), USD This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. For more information, please visit www.firstsolar.com. 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. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. All rights reserved. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 382.4 KB, pdf / Post Online Media. We work with businesses and communities around the world to deliver low-carbon solar energy projects. 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. Lightsource and bp celebrate five-year anniversary. 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. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. "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. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. 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). 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. You've rejected analytics cookies. Lightsource bp is a global leader in utility-scale solar development and management. 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. We use cookies to collect and analyse information on our site's performance and to enable the site to function. Discover how we are creating a positive impact across energy, the environment and our people. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. In 2021 we started up two major projects in the US Gulf of Mexico, where we plan to grow our oil and gas production to around 400mboe/d net by the mid-2020s, We are accelerating our electric vehicle (EV) charging ambition across key growth markets, through a focus on on-the-go charging and fleets. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. You can change your cookie settings at any time. 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. All quotes delayed a minimum of 15 minutes. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. (Loading)*. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. 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. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. Find out more about our sustainability strategy and initatives. This website uses cookies so that we can provide you with the best user experience possible. As a business we care deeply about the impact of our projects, our culture and values, and our team members. *Market data delayed by 20 minutes. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. All rights reserved. of 1 each. 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. February 27, 2023. 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. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. 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. 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. Contact info@lightsourcebp.com SOCIAL RESOURCES 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. The companys primary share listing is the London Stock Exchange. 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. Find out more about how Lightsource bp works and operates and our partnership with bp. We recognise that the rising need for energy must be met through sustainable sources. Lightsource bp is an international solar business. Lightsource BP, a global solar company in which oil major BP has a 50 percent stake, has begun commercial operation of its largest solar project located in North Texas. 2005 BP Alternative Energy Is Launched, from the Deep Sea to the Desert, from Rigs to Retail, Charging Company, Energy with Purpose Means Helping the World Reach Net Zero, BP Plc Group Results Second Quarter and Half Year 2020(A), Exxon Mobil Corp., Exxonmobil Oil Index No, The Forces Maintaining Fossil Fuel Dependence in the Age of Electric, Financial Institutions with a Full Business Law Service, BP P.L.C. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. For First Solar Investors You could see more consolidation in the renewables industry through mergers and acquisitions., 28 The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. 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. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. This website uses cookies so that we can provide you with the best user experience possible. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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. Read story Prev 1 2 Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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. Ordinary shares are ordinary fully paid shares in BP p.l.c. LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED, for LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED (09494479), (of the document filed at Companies House), Companies House does not verify the accuracy of the information filed. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. Home, Britoil, Lightsource BP, Llandarcy. We use cookies to collect and analyse information on our site's performance and to enable the site to function. BP and Lightsource announced the partnership in December. 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. for the year ended 31 December 2021. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. All rights reserved. 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.. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. It is not even the beginning of the end. Where we refer to the company, we mean BP p.l.c. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. 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. 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. 260MW of affordable, clean and locally generated electricity for Texas communities. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW.