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. 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 bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. The brand gives us a credibility that it would take 30 years to develop on our own. Our team includes over 500 industry specialists, working across 15 countries. Lightsource BP - Wikipedia , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. You should not place undue reliance on these forward-looking statements. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. All rights reserved. (Loading)*. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. 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. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. Choose a career where you are empowered to change the world! Sustainability is integrated into our business strategy and operating model at every level. 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? 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. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. 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. BP International Limited. Construction on this project commenced in December 2019. 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. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. We power businesses and communities across the US with clean and affordable energy solutions. 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. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. Find out more about our sustainability strategy and initatives. First Solar Investor Relations 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. 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, 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. 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 pays for the first $800 of the monthly insurance premium. As Americas familyfarmers and ranchers face increasing economic stress, opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. After submitting your request, you will receive an activation email to the requested email address. With smaller pockets, comes a different approach. Lightsource BP starts operating massive solar project in North Texas This website uses cookies so that we can provide you with the best user experience possible. Home - Lightsource bp London-based Lightsource BP, which is half-owned by oil major BP and will mark its 10th anniversary later this year, has rapidly grown around the world in recent years and aims to reach 10 gigawatt (GW) of solar capacity by 2023 from a current 2 GW . 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 Choose a career where you are empowered to change the world! Delivered by Investis. If you experience any issues with this process, please contact us for further assistance. *Market data delayed by 20 minutes. We are using cookies to give you the best experience on our website. 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. 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 launches Bighorn Solar project in Colorado - powering 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. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. Report this post Report Report. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. Group Results Fourth Quarter and Full Year 2019 Highlights. 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 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. We use cookies to collect and analyse information on our site's performance and to enable the site to function. 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. 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,. 2.2 MB. BP and Lightsource announced the partnership in December. Delivered by Investis. This website uses cookies so that we can provide you with the best user experience possible. We are using cookies to give you the best experience on our website. New Mexico 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. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. 260MW of affordable, clean and locally generated electricity for Texas communities. 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. You can find out more about which cookies we are using or switch them off in settings. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource bp and bp Sign Multi-Year Agreement for up to 5.4GW of Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. That's enough to power approximately 86,000 homes in New South Wales. of 1 each. in 2001. Lightsource bp is an international solar business. 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 [email protected]. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. Lightsource BP, a global solar company in which oil major BP has a 50 percent stake, has begun commercial operation of its largest solar project located in North Texas. About First Solar, Inc. 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. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. 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 use some essential cookies to make our services work. 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.. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana 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. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Lightsource and BP Join Forces to Drive Growth in Solar Power This website uses cookies so that we can provide you with the best user experience possible. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. The 260-megawatt Impact . Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. Home, Britoil, Lightsource BP, Llandarcy. 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. You can sign up for additional alert options at any time. You've rejected analytics cookies. Senior Manager O&M, United States - Lightsource bp - LinkedIn Read story 28 Feb, 2023 Read story Prev 1 2 Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. Lightsource bp hiring Manager, Storage Application in Denver, Minnesota and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. 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. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. 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. For First Solar Investors (Loading)*. "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. 2023 Lightsource. 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. As a business we care deeply about the impact of our projects, our culture and values, and our team members. 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. Brooks has a Winston Churchill quote in mind: Now, this is not the end. 2023 Lightsource. 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. 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. Every region receives a tailored approach and is managed by a local team. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing [email protected]. 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. 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. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. Lightsource and bp celebrate five-year anniversary. 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. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. 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 [email protected]. Lightsource bp Places Multi-Year Order for 4 GW of First Solar Modules 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. Discover how we are creating a positive impact across energy, the environment and our people. Lightsource Bp Renewable Energy Investments Limited 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. 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. Information in the bp Annual Report and Form 20-F 2021 reflects 100% of the assets and operations of the company and its subsidiaries that were consolidated at the date or for the periods indicated, including non-controlling interests. 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. Building scale with capital discipline and returns focus. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. We are using cookies to give you the best experience on our website. Lightsource bp is a global leader in utility-scale solar development and management. November:expansion into Italy, Iberia and Brazil is announced. BP are able to deliver more than just solar. Helge Lund, chair Chair's letter pdf / 264.7 KB 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. About Lightsource bp We are using cookies to give you the best experience on our website. (Loading), USD Find out more about us and how were working together to create a sustainable energy future for us all. 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. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. We power businesses and communities across the US with clean and affordable energy solutions. Read more about supporting local communities, Procurement agreement with US-based manufacturer. 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. are on pages 282-336. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. 2023 Lightsource. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. We believe that sustainability and social responsibility are crucial for long-term business success and this is embedded within our business model, holding us accountable to those principles. 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 2018can be found here. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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? Annual report | Investors | Home - bp global 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. 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. Interview with Emilie Wangerman, Senior VP, Head of Business Weve made a number of new hires across the Group, and the number of women in higher paying roles has increased, which is something were very proud of. You can change your cookie settings at any time. You can find out more about which cookies we are using or switch them off in settings. You've accepted analytics cookies. 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. 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. 'Terawatts mindset' as Lightsource BP bags $1.8bn to double solar And the next big steps are bigger projects and more volume. Legal notice in relation to the material on this page. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. 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. 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. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. Back Submit . 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.. 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. pdf / A year ago, Lightsource was the established solar leader in Europe. I joined when it was just six people huddled around two laptops, and from that first moment the ethos was clear, 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). We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. LSbp's first site produced just 0.7 megawatts (MW) of solar power. 602-414-9315, Lightsource bp and bp Sign Multi-Year Agreement for up to 5.4GW of First Solar Modules, Western Hemispheres largest solar manufacturing footprint. 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.