Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Nick previously sat at Board and Senior Director level in several leading retail financial service companies. With headquarters in London, the Lightsource is now active across EMEA, The Americas and APAC. Founder Nick Boyle explains how Lightsource will help power one of the biggest corporate transformations ever attempted. You wake up every morning with a list to achieve, and its all good stuff, things that drive the business forward, things that make a measurable difference. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. I remember speaking at one of your [Current publisher Solar Media] conferences in 2011 and I stood up and announced that Lightsource was going to do 300MW, and there wasnt anyone in the room that wasnt on the floor laughing. A revolution in the renewable energy sector: The journey of Lightsource Boyle insists that it is therefore common sense that O&G firms are getting involved in solar, describing it as a natural progression for the organisations. In answering a question aboutthat 8 to10percent figure duringitsQ2 investor call,CFO Murray Auchincloss told investors that BPthought it could get low-carbon returns well into the double-digit [percentage] range, althoughit wasnt ready to promise as much right now. Lightsource bp CEO and key executive team | Craft.co It all began at the end of 2010, when Lightsource Renewable Energy set up shop with six people crammed into a tiny corner of a London office. With headquarters in London, the Lightsource is now active across EMEA, The Americas and APAC. Far be it from us to remark that a fossil fuel company may have blazed a trail, but the new direction of travel is stark. All rights reserved. Lightsource, the solar arm of the global energy major BP, is looking at as much as $8 billion (Dh29.4bn) worth of projects worldwide as it looks to deploy 10 Gigawatts of capacity by 2023, according to its chief executive. But it also sees the complementarity coming through from onshore and offshore wind, he said. [citation needed] In 2013, Lightsource completed a 5MW rooftop solar PV installation at Bentley Motors' factory in Crewe. The company has rebranded to Lightsource BP in affirmation of this powerhouse commitment which is set to shape the future of global energy delivery. One of things that weve done really well in the first years in partnership with BP is that weve set aggressive targets and weve delivered on every one them They were able to believe us when we said: Guys, 10GW isnt really pushing the envelope. That was the start of the conversation about how we redefine what good looks like, Boyle says. Id been working with Nick Boyle on some other investment ideas when the Feed-in Tariffs (solar subsidies from the government) came in we ended up in a bar somewhere in London one night, it came up in conversation and the rest is history. We see how Bembury is able to walk the line of business convention while taking his art to new heights, turning ordinary items into extraordinary footwear. Boyle is straightforward in his assertion that the two letters at the end of the name make Lightsource BP a sexier proposition than before. Hydrogen could be shipped around the world as an energy source which essentially came from the sun but is captured as a gas, and burned the same way as historic hydrocarbons, Boyle says. 21 September, 2021 01:00 BP's joint solar venture Lightsource BP, founded by Co Antrim man Nick Boyle, plans to more than double its global expansion by 2025 after clinching a financing deal. He said BP's investment in the firm he founded was a "complete game changer" - especially since. Among those strategic firms were BP and another oil and gas giant, with BP eventually coming out victorious. Boutonnat explains how whereas in the past there may have been eight applicants for each role, theres now 75, and the calibre of talent approaching the business has soared since the BP announcement was made. Lightsource bp Renewable Energy Investments Limited. The future in hydrogen alone makes the 25GW target look small. We didnt sit back and plan to deliver 10GW; we realised at some point the question would be asked: Have you got the capability to do more? Boyle says. Nick Boyle - Net Worth March 2023, Salary, Age, Siblings, Bio, Family The Grid Edge comprises technologies, solutions and business models advancing the transition toward a decentralized, distributed and transactive electric grid. The company began with just six team members and rapidly grew to become one of Europes leading solar developers and operators in just five years. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. 2023 Lightsource. Musk Made a Mess at Twitter. Back in 2010, I couldnt have imagined the solar industry we find ourselves in now. Lightsource has not used Chinese-made solar panels for years now due to the US sanctions, and is working with industry groups across its geographical portfolio to help improve the traceability of the solar supply chain. Follow along as he lays out the blueprint for his career, and takes us all the way from his first sketch to his thriving personal brand, Spunge. Lightsource BP Founder: Nick Boyle How about Lightsource BP's number_of_employe? But Boutonnat insists the firm has no such ambitions, with Lightsource BP considering it more rewarding to go worldwide with what they do now than to go deeper in any one jurisdiction. Jake O'Kane: Is the DUP really going to sink the Assembly and reject the Windsor Framework? So absolutely it shaped our thinking;it shaped our approach. Boyle and the entire Lightsource team hasbeen generous in sharing their perspective on the energy transition, he added. If we're going to meet the commitments of the Paris Agreement, business as usual isn't going to cut it. [5], In 2016, Lightsource completed the Crookedstone Solar Farm, in Antrim, Northern Ireland, which provides a third of the Belfast International Airport's electricity needs.[1]. There are lots of tangible outcomes of hard work. TE Nick Boyle earned $25,785,075 in his NFL career. Of all the offers, BP matched up best on culture, ethos, ambition and its "understanding and belief about the potential of solar," and not anything to do with BP being British, he insisted. They just have this very can-do, empowering mentality that suits us perfectly, Boyle says. Floating solar, bifacial modules and the central versus string inverters debate sit on Lightsource BPs immediate R&D list at the moment. 2010 still feels like yesterday to me, when six of us gathered in the . The plan is tobuildon project returns of 5 to6 percent with improved project and operational execution and the benefits that come with BPs extra financial muscle,integratingthat power with energy from BPs other sources such asfirm low-carbon power-purchase agreements with natural gas filling in the blanks,all procured by BPs considerable trading arm. As Lightsource BP continues its rapid growth across North, . In the past year Lightsource BPs headcount has risen by around 20%, and theres still at the time of writing another 64 vacancies to fill. 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[citation needed] Also in 2018, the company formed a joint venture Lightsource BP Powered by Hassan Allam Utilities in Egypt with HA Utilities, the utilities subsidiary of Hassan Allam Holding. It is less than a year since the oil corporation BP, the ventures joint-owner, thrust it into the spotlight by unveiling plans to grow its renewable energy generation 20-fold within this decade. 'The potential for solar is huge': future looks bright for Lightsource Thats the cycle in this industry.. [citation needed]. After all, US$200 million is short change for a company whose total group profits for the 2017/18 financial year topped $2.5 billion. If we compare what BP is like to what our previous [funders] were like, there is no comparison. Lightsource BP is part of an exploratory project in Australia to develop a wind- and solar-powered green hydrogen export hub of up to 1.5 GW. In that year, Lightsource BP also signed a 25-year power purchase and asset acquisition agreement with Mid-Kansas Electric Company in Stanton County, Kansas, United States. Its time to start taxing shareholder payouts, Profits at worlds seven biggest oil firms soar to almost 150bn this year, British Museum urged to drop BP sponsor deal for Egypt exhibition, BPs joint solar venture Lightsource BP to more than double expansion by 2025. View the executive profile of Nick Boyle, Group Chief Executive Officer at Lightsource Renewable Energy, on Equilar BoardEdge to see current and past work history and gain access to Nick Boyle's network of 5 business contacts. Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, iPhone Maker Plans $700 Million India Plant in Shift From China, Stock Traders Are Ignoring Blaring Bond Alarms, Russia Is Getting Around Sanctions to Secure Supply of Key Chips for War. She is from Germany. "The target is 10GW by 2023," Nick Boyle told The National in an interview in Abu Dhabi. 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Nick Boyle Biography, Age, Height, Wife, Net Worth, Family Boyle was drawn to the solar industry from a background in retail financial services, selling a little bit to a lot of people, because he recognised solar powers long-term predictable returns as the Holy Grail of small volume investments. Check out Lightsource BP's net worth in US Dollar Aug, 2022. . We know that the sun will come up and the sun will go down so were essentially creating an annuity of very predictable generation multiplied by a fixed price that has already been agreed with some of the largest companies in the world.. All rights reserved. The performance of Lightsource BP's solar projects helped embolden BP's net-zero plans. Boyle says the company is ready to meet these challenges head on. Lightsource BPs initial goal was to use the oil giants financial muscle to grow a 1.6 gigawatt pipeline of solar projects to a portfolio of 10GW of solar investments by 2023. From that initial conversation, everything sort of snowballed and took on a life of its own.