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. 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. News & insights | Lightsource bp All rights reserved. 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. Lightsource bp to partner with Dourogs on green hydrogen projects - CNBC Home, Britoil, Lightsource BP, Llandarcy. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. Post Online Media. The companys primary share listing is the London Stock Exchange. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. 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. 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. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. 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. 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. Our team includes over 500 industry specialists, working across 15 countries. This landmark solar industry procurement deal is a testimony to Lightsource bps exponential growth in the United States, and our confidence in First Solars technology, said Kevin Smith, chief executive officer, Americas, Lightsource bp. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. Lightsource and bp celebrate five-year anniversary. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. 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. Lightsource bp today announced it has closed on a $533 million multiproject financing package for its 345-megawatt Ventress Solar project 30 miles northwest of Baton Rouge in Pointe Coupee Parish. Lightsource bp pays for the first $800 of the monthly insurance premium. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. This is where we come in. Partnerships are a key part of our approach, enabling better and faster utilization of our network. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. All rights reserved. Our team includes over 500 industry specialists, working across 15 countries. 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. Home - Lightsource 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. Group Results Fourth Quarter and Full Year 2019 Highlights. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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. Read more about supporting local communities, Procurement agreement with US-based manufacturer. Lightsource bp and bp Sign Multi-Year Agreement for up to 5.4GW of With smaller pockets, comes a different approach. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. 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. Read story 28 Feb, 2023 , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. Choose a career where you are empowered to change the world! This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource bp Signs Power Contract With Amazon for a New 375 Megawatt We power businesses and communities across the US with clean and affordable energy solutions. 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. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. is the parent company of the bp group of companies. 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. Contact info@lightsourcebp.com SOCIAL RESOURCES Lightsource bp is a global leader with local impact. 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. 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. 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. 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. Our purpose is to deliver affordable and sustainable solar. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. 2023 Lightsource. 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 . 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 . 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. 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. Assist in contract negotiation and. The deal on the Lightsource deal | News and insights | Home - bp global For First Solar Investors 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. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. 264.7 KB. 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. Delivered by Investis. 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. (Loading), USD Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. LSbp's first site produced just 0.7 megawatts (MW) of solar power. Lightsource bp and bp Sign Multi-Year Agreement for up to 'The potential for solar is huge': future looks bright for Lightsource BP 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. 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. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. 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 great majority of this investment will fund Lightsource's. 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? We know many ways in which to finance projects and understand the market for financing very differently.. Lightsource and bp celebrate five-year anniversary Read story 01 Mar, 2023 Lightsource bp will promote the development of 19 solar projects, involving an investment of 1.2 billion Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. of 1 each. June:first utility solar plant in Maharashtra, India, iscompleted and connected financed by UK Climate Investments, a JV between the Green Investment Group and the Department for Business Energy and Industrial Strategy. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. 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. 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. BP returns to solar with investment in Lightsource | Reuters Every region receives a tailored approach and is managed by a local team. You can find out more about which cookies we are using or switch them off in settings. Interview with Emilie Wangerman, Senior VP, Head of Business Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. Global leader in responsible solar development | Lightsource bp US We use cookies to collect and analyse information on our site's performance and to enable the site to function. 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. 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. 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. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. BPs shares linger near 25-year lows after it halved its dividend in August. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. 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. 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. farmers and ranchers face increasing economic stress. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 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. It is not even the beginning of the end. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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. 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. Procurement agreement with US-based manufacturer. We recognise that the rising need for energy must be met through sustainable sources. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. Lightsource bp | LinkedIn Sustainability is at our core. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. of 25 cents each. You must click the activation link in order to complete your subscription. 2023 Lightsource. 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. Were delighted that bp and Lightsource bp have placed their trust in us and our technology to help power their growth in the United States.. 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. Actual results may differ materially from those expressed in such statements depending on a variety of factors. Owler Reports - Lightsource bp: Lightsource bp selling 1-GWp solar A year ago, Lightsource was the established solar leader in Europe. Lightsource bp gets financing for massive Pointe - Business Report Lightsource bp has agreed to procure up to 4.3GWDC of modules for its US utility-scale projects, and bp will procure up to 1.1GWDC to power their projects being developed by Lightsource bp. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . These factors include, but are not limited to, the matters discussed under the captions Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission. Lightsource bp is a global leader in utility-scale solar development and management. (Loading)*. The full details of our Gender Pay Gap Report 2018can be found here. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. 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. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. At Lightsource bp, weve been developing utility-scale solar projects since 2010. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 2018, The BP partnership has definitely given our whole team confidence. 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. These provide the basis for a common set of enduring objectives for bp as we transform the organization consistent with the long-term energy transition. This website uses cookies so that we can provide you with the best user experience possible. Lightsource bp launches Bighorn Solar project in Colorado - powering See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. We power businesses and communities across the US with clean and affordable energy solutions. About First Solar, Inc. This is exactly the type of energy we want to develop and deliver as we continue to build out our renewable pipeline and ultimately strengthen confidence in our target of delivering 20GW of developed renewables by 2025.. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. Lightsource and bp celebrate five-year anniversary. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. GBp Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. 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. You can find out more about which cookies we are using or switch them off in settings. Lightsource Bp Renewable Energy Investments Limited You've accepted analytics cookies. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Find out more about our sustainability strategy and initatives. Find out more about us and how were working together to create a sustainable energy future for us all. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. 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.