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. 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. Our sector is fundamentally about financing. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. 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. News & insights | Lightsource bp is the parent company of the bp group of companies. (), USD Ordinary shares are ordinary fully paid shares in BP p.l.c. 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,. Choose a career where you are empowered to change the world! In order to advance our purpose and ambition, we have identified three strategic focus areas, and weve set targets and aims against these out to 2025 and 2030. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . 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. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 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. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. 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 / 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. 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. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. 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 sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. Lightsource bp launches Bighorn Solar project in Colorado - powering The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. Sustainability is at our core. See here for a complete list of exchanges and delays. 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. With smaller pockets, comes a different approach. But many BP investors have cast doubts over BPs vow that the renewables business could generate returns of 8% to 10%, higher than the sectors average of 5% to 6% in order to maintain and even grow shareholder payouts. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Owler Reports - Lightsource bp: Lightsource bp selling 1-GWp solar And the next big steps are bigger projects and more volume. 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. Senior Manager O&M, United States - Lightsource bp - LinkedIn Lightsource bp Renewable Energy Semiconductor Manufacturing . The great majority of this investment will fund Lightsource's. 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. You've accepted analytics cookies. First Solar Investor Relations
(Loading), USD That's enough to power approximately 86,000 homes in New South Wales. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. 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. 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. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. 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. 'Terawatts mindset' as Lightsource BP bags $1.8bn to double solar 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. All rights reserved. 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 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. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. 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. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. For more information please visit www.lightsourcebp.com. 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. Solar-powered steel production from Lightsource bp's Bighorn Project in August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . 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. 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. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. All rights reserved. Lightsource bp Financials | Craft.co 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. 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. Lightsource bp and bp will benefit from the evolution of First Solars advanced Cadmium Telluride (CadTel) thin film module technology platform over the span of the agreement. 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 . are on pages 282-336. November We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. For more information on bp in the US, visit www.bp.com/us. 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. Report this post Report Report. As a business, we also care deeply about our culture and values, invest in our teams, and place people and communities at the heart of the decisions we make. 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. 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. 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. 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. Lightsource bp launches Bighorn Solar project in Colorado - bp global 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. This is where we come in. 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. Assist in contract negotiation and. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. 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. You can change your cookie settings at any time. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. 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. You can find out more about which cookies we are using or switch them off in settings. 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.. We continue to grow teams, partnerships and projects throughout the world. At Lightsource BP we firmly believe in the importance of a diverse, supportive, equality-driven work force, and were proud of everything weve done to create one. ()*, GBp 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). The full details of our Gender Pay Gap Report 2018 can be found here. 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: one year on and going global 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. Oversee onboarding of new facilities. 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. 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. 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. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. Lightsource bp hiring Manager, Storage Application in Denver, Minnesota There is going to be a huge amount of capital flow into new business models, he predicts. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. Lightsource bp Places Multi-Year Order for 4 GW of First Solar Modules 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. 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. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. A year ago, Lightsource was the established solar leader in Europe. Lightsource bp Renewable Energy Investments Limited. BP returns to solar with investment in Lightsource | Reuters 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 RENEWABLE ENERGY INVESTMENTS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity For First Solar Investors All quotes delayed a minimum of 15 minutes. 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. 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. To obtain a hard printed copy of bps complete audited financial statements, free of charge, UK based investors should contact bp distribution services by clicking the link above or calling +44 (0)870 241 3269 or by emailing bpdistributionservices@bp.com. 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 and bp Sign Multi-Year Agreement for up to 5 - Yahoo! 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. 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. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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. 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. Read more about supporting local communities, Procurement agreement with US-based manufacturer. Our Standards: The Thomson Reuters Trust Principles. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. bp acquired the projects as part of its net zero ambition and target to grow its net developed renewable generating capacity to 20GW by 2025 and 50GW by 2030. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. 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. 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. Our growth has been in maturing the organization and getting into a strong operating position for next year. Here are some examples of how we performed in 2021. Lightsource bp Renewable Energy Investments Limited. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. We recognise that the rising need for energy must be met through sustainable sources. All rights reserved. Lightsource bp launches Bighorn Solar project in Colorado - powering We use some essential cookies to make our services work. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. Brazil is a massive market with huge potential. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. 2023 Lightsource. 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. About First Solar, Inc. 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. This website uses cookies so that we can provide you with the best user experience possible. February 27, 2023. 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. At Lightsource bp, weve been developing utility-scale solar projects since 2010. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. 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. We have always been driven, and our partnership with BP is a great enabler. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 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. BP p.l.c. 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. Helge Lund, chair Chair's letter pdf / 264.7 KB 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. The 260-megawatt Impact . You've rejected analytics cookies. This result is much lower than the UK average (this year 8.6% in favour of men), and is largely due to the composition of our workforce. 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. Lightsource bp and bp Sign Multi-Year Agreement for up to Lightsource bp is an international solar business. About bp 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. Find out more about us and how were working together to create a sustainable energy future for us all. of 25 cents each. 2.2 MB. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture 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. Lightsource bp to partner with Dourogs on green hydrogen projects - CNBC Our success is built on more than just our solar projects. 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. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. 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. 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.