lightsource bp annual report lightsource bp annual report

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. 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. 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. 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. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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.. 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. 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. Delivered by Investis. The parent company financial statements of BP p.l.c. ()*, GBp It also translates into competitively priced electricity for our customers., Felipe Arbelaez, bps senior vice president of zero carbon energy, added: To help reach our net zero ambition and develop 50GW of renewable power by the end of this decade, we continue to invest in clean, reliable energy in the US. 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. 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, 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. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. Find out more about how Lightsource bp works and operates and our partnership with bp. 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. 2023 Lightsource. You can find out more about which cookies we are using or switch them off in settings. BP are able to deliver more than just solar. 2.2 MB. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. 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 projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. Choose a career where you are empowered to change the world! 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, 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. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing [email protected]. 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. 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. 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. 2023 Lightsource. It is just the start for us in Latin America, Souflis adds. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. 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. bps finances are strong and resilient. 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. This website uses cookies so that we can provide you with the best user experience possible. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. 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 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. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. Lightsource bp Renewable Energy Investments Limited. Our success is built on more than just our solar projects. Lightsource bp is a global leader in utility-scale solar development and management. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. 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. 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? Our growth has been in maturing the organization and getting into a strong operating position for next year. 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. ()*, GBp 2023 Lightsource. of 25 cents each. 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. After submitting your request, you will receive an activation email to the requested email address. Partnerships are a key part of our approach, enabling better and faster utilization of our network. November:contracts are signed for 25MW of solar power in Western US. 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. 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. 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. 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. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). February 27, 2023. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. We are using cookies to give you the best experience on our website. We continue to grow teams, partnerships and projects throughout the world. Assist in contract negotiation and. 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. This website uses cookies so that we can provide you with the best user experience possible. 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 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. You can change your cookie settings at any time. 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 / As a business we care deeply about the impact of our projects, our culture and values, and our team members. There is going to be a huge amount of capital flow into new business models, he predicts. Choose a career where you are empowered to change the world! Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. About Lightsource bp Sustainability is at our core. Lightsource and bp celebrate five-year anniversary. 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. 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. We power businesses and communities across the US with clean and affordable energy solutions. 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. Oversee onboarding of new facilities. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. We are using cookies to give you the best experience on our website. With smaller pockets, comes a different approach. 2023 Lightsource. We power businesses and communities across the US with clean and affordable energy solutions. It makes good business sense, too. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. 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. Group Results Fourth Quarter and Full Year 2019 Highlights. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. This is where we come in. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. November 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. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . The BP partnership has definitely given our whole team confidence, Brooks says. We have always been driven, and our partnership with BP is a great enabler. 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. 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 . BP International Limited. 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 [email protected]. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana 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. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. Find out more about our sustainability strategy and initatives. We represent the opposite of that.. And, if youre confident, you can put your head down and deliver. Building scale with capital discipline and returns focus. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. The company and each of its subsidiaries are separate legal entities. 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. are on pages 282-336. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. You should not place undue reliance on these forward-looking statements. You can change your cookie settings at any time. Lightsource bp is a global leader with local impact. GBp November:expansion into Italy, Iberia and Brazil is announced. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. 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. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. Report this post Report Report. The 260-megawatt Impact . 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. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. All rights reserved. (Loading), USD You can find out more about which cookies we are using or switch them off in settings. 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. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. of 1 each. 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 . Delivered by Investis. At Lightsource bp, weve been developing utility-scale solar projects since 2010. Legal notice in relation to the material on this page. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. We use cookies to collect and analyse information on our site's performance and to enable the site to function. 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. 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. 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). 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. Doubling adjusted EBITDA, sustaining returns, focused on customers. 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. Read story Prev 1 2 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. BPs shares linger near 25-year lows after it halved its dividend in August. 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. 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. 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 . LSbp's first site produced just 0.7 megawatts (MW) of solar power. The full details of our Gender Pay Gap Report 2018 can be found here. 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. Sustainability is integrated into our business strategy and operating model at every level. Brazil is a massive market with huge potential. 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. 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. See here for a complete list of exchanges and delays. 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. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. (Loading)*. 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 . Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. In the US, the companys securities are traded on the New York Stock Exchange (NYSE) in the form of ADSs (see page 368 of the bp Annual Report and Form 20-F 2021 for more details) and in Germany in the form of a global depositary certificate representing bp ordinary shares traded on the Frankfurt, Hamburg and Dusseldorf Stock Exchanges. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. 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 release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Contact [email protected] SOCIAL RESOURCES As a leading global solar developer and bp partner, we are rapidly scaling-up to help meet the rising demand for reliable electricity, while supporting the global energy transition to net zero. 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. 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. Read more about supporting local communities, Procurement agreement with US-based manufacturer. First Solar Investor Relations All rights reserved. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. The ability to bring base load is something that a trading operation like BPs can deliver, Lightsource BP chief operating officer and co-founder Kareen Boutonnat said. You've accepted analytics cookies. 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). If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing [email protected]. The framework agreements, the largest in First Solars history, will provide modules scheduled to be delivered between 2023 and 2025 to support the companies solar development pipelines in the United States. Lightsource bp is an international solar business. BP and Lightsource announced the partnership in December. 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 and bp celebrate five-year anniversary. Every region receives a tailored approach and is managed by a local team. 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. Were looking at assets in some parts of Europe that definitely offer double digit returns and we are also looking at assets in other parts of the world that are lower than that, he told Reuters in an interview this month. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. You can find out more about which cookies we are using or switch them off in settings. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. in 2001. Lightsource bp pays for the first $800 of the monthly insurance premium. 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. 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. 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. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. 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. If you experience any issues with this process, please contact us for further assistance. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. Our purpose is to deliver affordable and sustainable solar. Lightsource bp Renewable Energy Investments Limited. The Material does not (i) form part of the bp Annual Report and, pdf /