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()*, GBp 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. investor@firstsolar.com News & insights | Lightsource bp Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. 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. We use cookies to make our services work and collect analytics information. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . for the year ended 31 December 2021. 2.2 MB. Choose a career where you are empowered to change the world! Lightsource bp | What we do | Home - United States Brooks has a Winston Churchill quote in mind: Now, this is not the end. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 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. bps finances are strong and resilient. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. All rights reserved. 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. You can sign up for additional alert options at any time. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. The companys primary share listing is the London Stock Exchange. 2023 Lightsource. Partnerships are a key part of our approach, enabling better and faster utilization of our network. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. It makes good business sense, too. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. You can find out more about which cookies we are using or switch them off in settings. Lightsource Bp Renewable Energy Investments Limited Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Report this post Report Report. 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. 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. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). We continue to grow teams, partnerships and projects throughout the world. ()*, GBp November 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. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. 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. 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. 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. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. You can change your cookie settings at any time. 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. Lightsource BP starts operating massive solar project in North Texas 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. All rights reserved. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. Global leader in responsible solar development | Lightsource bp US 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. Sustainability is integrated into our business strategy and operating model at every level. November:contracts are signed for 25MW of solar power in Western US. Estimated to abate 204,000 metric tons of carbon dioxide (CO2) emissions each year, equivalent to annual emissions from about 44,000 fuel burning cars. 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. Procurement agreement with US-based manufacturer. Our team includes over 500 industry specialists, working across 15 countries. 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. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. We power businesses and communities across the US with clean and affordable energy solutions. Choose a career where you are empowered to change the world! Lightsource bp is a global leader in utility-scale solar development and management. We are using cookies to give you the best experience on our website. Where we refer to the company, we mean BP p.l.c. 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. LSbp's first site produced just 0.7 megawatts (MW) of solar power. You can change your cookie settings at any time. 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. It is just the start for us in Latin America, Souflis adds. 2023 Lightsource. Lightsource BP - Wikipedia Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. 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. 'Terawatts mindset' as Lightsource BP bags $1.8bn to double solar Lightsource bp and bp Sign Multi-Year Agreement for up to 5.4GW of BP International Limited. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Doubling adjusted EBITDA, sustaining returns, focused on customers. 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,. All rights reserved. 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. 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. Our team includes over 500 industry specialists, working across 15 countries. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. BP International Limited ANNUAL REPORT and FINANCIAL Lightsource BP's initial goal was to use the oil giant's financial muscle to grow a 1.6 gigawatt pipeline of solar projects to a portfolio of 10GW of solar investments by 2023. farmers and ranchers face increasing economic stress. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. 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. 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. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. November:expansion into Italy, Iberia and Brazil is announced. Lightsource bp is a global leader with local impact. A year ago, Lightsource was the established solar leader in Europe. Solar projects already meet BP's profit goals, Lightsource BP says 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. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. You've accepted analytics cookies. 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. Construction on this project commenced in December 2019. 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. We know many ways in which to finance projects and understand the market for financing very differently.. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Every region receives a tailored approach and is managed by a local team. 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 Directors remuneration report is on pages 116-141. 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. We are using cookies to give you the best experience on our website. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. Our Standards: The Thomson Reuters Trust Principles. 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. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. In March 2016, Lightsource Renewable Energy successfully completed and connected Europes largest floating solar farm, installing 6.3MW on the Queen Elizabeth II Reservoir, near London. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. Lightsource bp Renewable Energy Investments Limited. 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. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. pdf / All rights reserved. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. For First Solar Investors Lightsource bp and bp Sign Multi-Year Agreement for up to 5 - Yahoo! Modern Slavery And Human Trafficking Statement. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Back Submit . Lightsource bp is an international solar business. 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. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. We are using cookies to give you the best experience on our website. (), USD Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. Post Online Media. 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. Lightsource bp gets financing for massive Pointe - Business Report Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. 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. 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. Our gigawatt-approach to solar provides many benefits to our partners worldwide by leveraging economies of scale, ethical and sustainable procurement, and continuous improvement on quality and efficiency. BP p.l.c. 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. 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 . And, if youre confident, you can put your head down and deliver. 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). Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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 . 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. Group Results Fourth Quarter and Full Year 2019 Highlights. The modules, scheduled. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You've rejected analytics cookies. We build, own and operate cost-effective, clean energy projects, and are dedicated to pushing the frontiers of solar and storage solutions, backed by world-class execution capabilities. 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 Renewable Energy Investments Limited. 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. Our growth has been in maturing the organization and getting into a strong operating position for next year. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. BP and Lightsource announced the partnership in December. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. Read more about supporting local communities, Procurement agreement with US-based manufacturer. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. 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. Brazil is a massive market with huge potential. 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. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. 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.

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