Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. 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. 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. 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? At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. 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. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. Group Results Fourth Quarter and Full Year 2019 Highlights. About bp Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. 2023 Lightsource. 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. 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. are on pages 282-336. We use cookies to collect and analyse information on our site's performance and to enable the site to function. Modern Slavery And Human Trafficking Statement. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. 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. All rights reserved. Read story Prev 1 2 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. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. 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. A year ago, Lightsource was the established solar leader in Europe. Our team includes over 500 industry specialists, working across 15 countries. 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. 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. With smaller pockets, comes a different approach. Assist in contract negotiation and. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. All rights reserved. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. 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. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. 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. Every region receives a tailored approach and is managed by a local team. 2.2 MB. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 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 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. 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 . (Loading), USD 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. 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. November This website uses cookies so that we can provide you with the best user experience possible. 8.3 MB. 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. 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 / 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. 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. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. New Mexico 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. Choose a career where you are empowered to change the world! But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana 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,. Where we refer to the company, we mean BP p.l.c. 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. We work with businesses and communities around the world to deliver low-carbon solar energy projects. Lightsource bp Renewable Energy Investments Limited. 2018, The BP partnership has definitely given our whole team confidence. (Loading)*. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. in 2001. Lightsource bp Renewable Energy Investments Limited. 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. The parent company financial statements of BP p.l.c. Building scale with capital discipline and returns focus. First Solar Investor Relations 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 . ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. 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. Home, Britoil, Lightsource BP, Llandarcy. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. You can sign up for additional alert options at any time. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. We are using cookies to give you the best experience on our website. Choose a career where you are empowered to change the world! Find out more about our sustainability strategy and initatives. 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. 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. 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. Lightsource bp is an international solar business. And, if youre confident, you can put your head down and deliver. 260MW of affordable, clean and locally generated electricity for Texas communities. Here are some examples of how we performed in 2021. 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. All rights reserved. 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. bps finances are strong and resilient. If you experience any issues with this process, please contact us for further assistance. In a statement Thursday, Lightsource bp which oil. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. for the year ended 31 December 2021. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. "Reliability is super-important, too this is a young industry, so its like a gold rush, with new players coming into the market who want to flip things quickly. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. You can find out more about which cookies we are using or switch them off in settings. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. The companys primary share listing is the London Stock Exchange. 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. The BP partnership has definitely given our whole team confidence, Brooks says. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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. 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). Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. 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. 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 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. 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. 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 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. 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. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. Sustainability is integrated into our business strategy and operating model at every level. 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. Lightsource and bp celebrate five-year anniversary. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. Find out more about us and how were working together to create a sustainable energy future for us all. 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. GBp 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. Lightsource bp Renewable Energy Investments Limited. Helge Lund, chair Chair's letter pdf / 264.7 KB Our success is built on more than just our solar projects. 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. High-grading our portfolio, lowering our emissions and driving returns. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. *Market data delayed by 20 minutes. Cookies also allow us and our partners to show you relevant ads when you visit our site and other 3rd party websites, including social networks. Lightsource bp is a global leader in utility-scale solar development and management. 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. 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. Doubling adjusted EBITDA, sustaining returns, focused on customers. We recognise that the rising need for energy must be met through sustainable sources. Lightsource bp Renewable Energy Semiconductor Manufacturing . Will stimulate local economy by bringing an estimated $30 million in new revenue to the . 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? BP undoubtedly lends its global scale, built up over more than a century, to the partnership, opening doors and sharing its knowledge of operating in territories covering the US, India, Europe and the Middle East. We are using cookies to give you the best experience on our website. Post Online Media. (), USD We use cookies to collect and analyse information on our site's performance and to enable the site to function. 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. The modules, scheduled. Back Submit . In 2021 we started up two major projects in the US Gulf of Mexico, where we plan to grow our oil and gas production to around 400mboe/d net by the mid-2020s, We are accelerating our electric vehicle (EV) charging ambition across key growth markets, through a focus on on-the-go charging and fleets. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. 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. 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. 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. Report this post Report Report. 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. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). BP p.l.c. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . What the two companies have in common is a shared ambition to accelerate the global low carbon transition. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. 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. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. 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. 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 must click the activation link in order to complete your subscription. You can find out more about which cookies we are using or switch them off in settings. 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:expansion into Italy, Iberia and Brazil is announced. 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. Construction on this project commenced in December 2019. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. 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. Lightsource bp Renewable Energy Investments Limited. We represent the opposite of that.. 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. 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. 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. 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. 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. 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. We power businesses and communities across the US with clean and affordable energy solutions. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. 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. As a business we care deeply about the impact of our projects, our culture and values, and our team members. 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. ()*, GBp This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. The full details of our Gender Pay Gap Report 2018 can be found here. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. 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.