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. 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. Report this post Report Report. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. 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. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. We have always been driven, and our partnership with BP is a great enabler. 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. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. Delivered by Investis. 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 development of our projects are underpinned by our core values, ethically focussed and climate conscious. 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. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. Lightsource bp is an international solar 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. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. Read story 28 Feb, 2023 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. 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,. Find out more about us and how were working together to create a sustainable energy future for us all. 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. GBp 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. for the year ended 31 December 2021. 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. 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. Lightsource and bp celebrate five-year anniversary. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. We are using cookies to give you the best experience on our website. Partnerships are a key part of our approach, enabling better and faster utilization of our network. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. We use cookies to collect and analyse information on our site's performance and to enable the site to function. All rights reserved. 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. Construction on this project commenced in December 2019. The great majority of this investment will fund Lightsource's. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. All rights reserved. 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. Lightsource bp Renewable Energy Investments Limited. 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. The parent company financial statements of BP p.l.c. 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. Helge Lund, chair Chair's letter pdf / 264.7 KB Our purpose is to deliver affordable and sustainable solar. 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. High-grading our portfolio, lowering our emissions and driving returns. 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. 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. Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/16dda5bd-3fb9-4df3-a008-49c75d6999d5, https://www.globenewswire.com/NewsRoom/AttachmentNg/f00065c2-75ab-46b9-b9e8-b9057d21ae52. 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. 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. in 2001. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. We continue to grow teams, partnerships and projects throughout the world. Read more about supporting local communities, Procurement agreement with US-based manufacturer. This website uses cookies so that we can provide you with the best user experience possible. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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 Renewable Energy Investments Limited. 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. We are using cookies to give you the best experience on our website. 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. Discover how we are creating a positive impact across energy, the environment and our people. 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. 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? About bp 8.3 MB. This website uses cookies so that we can provide you with the best user experience possible. LSbp's first site produced just 0.7 megawatts (MW) of solar power. All rights reserved. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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. You can change your cookie settings at any time. In a statement Thursday, Lightsource bp which oil. 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 work with businesses and communities around the world to deliver low-carbon solar energy projects. You can find out more about which cookies we are using or switch them off in settings. 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. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. 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. We are using cookies to give you the best experience on our website. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. 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. 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. We recognise that the rising need for energy must be met through sustainable sources. 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. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. Back Submit . 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. With smaller pockets, comes a different approach. BP and Lightsource announced the partnership in December. All rights reserved. Lightsource bp is an international solar business. The Directors remuneration report is on pages 116-141. Our approach has always been to attract, select and retain the right person for each position, regardless of gender, sexuality, personal beliefs, identity and ethnicity. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. 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. 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. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. 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. Home, Britoil, Lightsource BP, Llandarcy. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. Choose a career where you are empowered to change the world! And, if youre confident, you can put your head down and deliver. In 1910, the steel mill, then known as The Colorado Fuel and Iron Company, employed approximately 15,000 people, or about one-tenth of the entire Colorado workforce, according to the Colorado Encyclopedia and later was the . 2023 Lightsource. 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. 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 *Market data delayed by 20 minutes. Lightsource and bp celebrate five-year anniversary. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. 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. We power businesses and communities across the US with clean and affordable energy solutions. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. Assist in contract negotiation and. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. 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.. 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. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. 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. Post Online Media. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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. Here are some examples of how we performed in 2021. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. The brand gives us a credibility that it would take 30 years to develop on our own. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. A year ago, Lightsource was the established solar leader in Europe. 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. Brazil is a massive market with huge potential. 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. 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 success is built on more than just our solar projects. 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. 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. 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. Lightsource bp is a global leader with local impact. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . New Mexico 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. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. November Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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.. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. 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. November:expansion into Italy, Iberia and Brazil is announced. 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. All quotes delayed a minimum of 15 minutes. Lightsource bp Renewable Energy Investments Limited. We power businesses and communities across the US with clean and affordable energy solutions. 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. You can sign up for additional alert options at any time. is the parent company of the bp group of companies. 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. 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.
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