Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. 2023 Lightsource. 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. Here are some examples of how we performed in 2021. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. Oversee onboarding of new facilities. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Assist in contract negotiation and. 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. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. You can find out more about which cookies we are using or switch them off in settings. We represent the opposite of that.. As a business we care deeply about the impact of our projects, our culture and values, and our team members. 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. 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. BPs shares linger near 25-year lows after it halved its dividend in August. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. 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. Report this post Report Report. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana 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. 382.4 KB, pdf / To obtain a hard printed copy of BP's complete audited financial statements, free of charge, UK based investors should contact bp Distribution Services by clicking the link above or calling +44 (0)870 241 3269 or by emailing bpdistributionservices@bp.com. 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. 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. All rights reserved. The parent company financial statements of BP p.l.c. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. 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.. 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. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. Our Standards: The Thomson Reuters Trust Principles. Find out more about our sustainability strategy and initatives. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). 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. 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. 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. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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. Oil and gas will remain BPs largest source of income over the coming decade which will help pay for the shift to low-carbon energy. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. Lightsource and bp celebrate five-year anniversary. February 27, 2023. 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 it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. Post Online Media. Sustainability is at our core. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. 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. 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. Choose a career where you are empowered to change the world! Lightsource bp is a global leader in utility-scale solar development and management. 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. 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. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. It makes good business sense, too. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. 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. Brazil is a massive market with huge potential. 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. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. 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 should not place undue reliance on these forward-looking statements. Doubling adjusted EBITDA, sustaining returns, focused on customers. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Speaking about the future growth of Lightsource BP, Brooks says: Ive no doubt that we will be 10 to 15 times the size we are today in a decade. Dont underestimate the ambitions of the Lightsource BP team, he warns. The companys primary share listing is the London Stock Exchange. 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. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. 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. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. 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. 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. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. Legal notice in relation to the material on this page. 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. We are using cookies to give you the best experience on our website. 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. This is where we come in. 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. You can choose to allow all cookies by clicking Allow all or manage them individually by clicking Manage cookie preferences, where you will also find more information. We are using cookies to give you the best experience on our website. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. the Role of Oil and Gas, Sustainability Report 2020 Sustainability at Bp 2020 at a Glance Our Foundations Our Focus Areas Embedding Sustainability External Collaborations Our Reporting, Parent Company Financial Statements of BP P.L.C, DID YOU KNOW? Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. When I think about how weve grown as a company, its very, very different to just adding megawatts we have also added great talent and continued to mature and innovate for clients and other stakeholders to stay ahead of the competition, says Brooks. Find out more about us and how were working together to create a sustainable energy future for us all. Helge Lund, chair Chair's letter pdf / 264.7 KB 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. The 260-megawatt Impact . See here for a complete list of exchanges and delays. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Building scale with capital discipline and returns focus. November:expansion into Italy, Iberia and Brazil is announced. I started in this business six years ago, when we were just finding our feet in the UK and a few hundred megawatts seemed a big ambition. Lightsource bp is a global leader with local impact. 2.2 MB. 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. The Material does not (i) form part of the bp Annual Report and, pdf / You can find out more about which cookies we are using or switch them off in settings. 8.3 MB. Construction on this project commenced in December 2019. 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. For First Solar Investors We have always been driven, and our partnership with BP is a great enabler. 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 / 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. 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. Delivered by Investis. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. 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. 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. 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. 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. We are growing at pace and scale, going beyond business as usual, to act as an enabler of the energy transition and meet this rising demand for sustainable energy with the urgency it deserves. 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. November It is just the start for us in Latin America, Souflis adds. Lightsource bp is an international solar business. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. Our most recent Annual Report and Form 20-F is available on our website at www.bp.com, or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov SOURCE BP PLC . You can find out more about which cookies we are using or switch them off in settings. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. Actual results may differ materially from those expressed in such statements depending on a variety of factors. Our success is built on more than just our solar projects. Home, Britoil, Lightsource BP, Llandarcy. 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. All rights reserved. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Lightsource bp Renewable Energy Investments Limited. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. That's enough to power approximately 86,000 homes in New South Wales. We recognise that the rising need for energy must be met through sustainable sources. Lightsource bp Renewable Energy Investments Limited. 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 . 260MW of affordable, clean and locally generated electricity for Texas communities. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. Privately-owned Lightsource BP, which develops solar projects from their earliest stages, reported a turnover of 55.3 million pounds ($72.2 million) last year, compared with 40.7 million pounds a year earlier, according to the companys annual report filed this week. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. November:contracts are signed for 25MW of solar power in Western US. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. (Loading)*. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 The full details of our Gender Pay Gap Report 2018 can be found here. 264.7 KB. We power businesses and communities across the US with clean and affordable energy solutions. And the next big steps are bigger projects and more volume. 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. 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. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. of 1 each. The brand gives us a credibility that it would take 30 years to develop on our own. 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. BP International Limited. 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. 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. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, 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. 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. 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. Our team includes over 500 industry specialists, working across 15 countries. 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. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. The full details of our Gender Pay Gap Report 2018can be found here. A year ago, Lightsource was the established solar leader in Europe. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. Partnerships are a key part of our approach, enabling better and faster utilization of our network. There is going to be a huge amount of capital flow into new business models, he predicts. 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. About bp 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. Modern Slavery And Human Trafficking Statement. *Market data delayed by 20 minutes. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com.