Lightsource bp Renewable Energy Investments Limited. 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. BPs shares linger near 25-year lows after it halved its dividend in August. 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. 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. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 8.3 MB. 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. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. We power businesses and communities across the US with clean and affordable energy solutions. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. 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. Here are some examples of how we performed in 2021. (), USD 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. 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. 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. 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. The great majority of this investment will fund Lightsource's. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. We are using cookies to give you the best experience on our website. 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 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. It makes good business sense, too. investor@firstsolar.com We continue to grow teams, partnerships and projects throughout the world. 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. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. About First Solar, Inc. 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. We work with businesses and communities around the world to deliver low-carbon solar energy projects. BP p.l.c. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana 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. ()*, GBp and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. 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. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. Where we refer to the company, we mean BP p.l.c. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. We are using cookies to give you the best experience on our website. 2023 Lightsource. 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 . of 25 cents each. in 2001. 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. GBp This drives our commitment and continued effort to integrate sustainable business practices into everything we do. All rights reserved. 2023 Lightsource. We use cookies to collect and analyse information on our site's performance and to enable the site to function. 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. About Lightsource bp Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. 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. 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. The full details of our Gender Pay Gap Report 2018 can be found here. 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. Group Results Fourth Quarter and Full Year 2019 Highlights. High-grading our portfolio, lowering our emissions and driving returns. 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. Lightsource bp pays for the first $800 of the monthly insurance premium. (Loading), USD Lightsource and bp celebrate five-year anniversary. At Lightsource bp, weve been developing utility-scale solar projects since 2010. 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 in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. All rights reserved. Back Submit . See here for a complete list of exchanges and delays. 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. 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. 260MW of affordable, clean and locally generated electricity for Texas communities. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. With smaller pockets, comes a different approach. 2018, The BP partnership has definitely given our whole team confidence. Report this post Report Report. All rights reserved. You've rejected analytics cookies. Find out more about how Lightsource bp works and operates and our partnership with bp. is the parent company of the bp group of companies. (), USD Lightsource bp is an international solar business. 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. 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. For more information, please visit www.firstsolar.com. Lightsource and bp celebrate five-year anniversary. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. 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. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. Post Online Media. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. This website uses cookies so that we can provide you with the best user experience possible. bps finances are strong and resilient. 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. It is not even the beginning of the end. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. 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. 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.. 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). Oversee onboarding of new facilities. 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? 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. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. The Material does not (i) form part of the bp Annual Report and, pdf / Lightsource bp is an international solar business. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. We represent the opposite of that.. You can find out more about which cookies we are using or switch them off in settings. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. farmers and ranchers face increasing economic stress. 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,. Contact info@lightsourcebp.com SOCIAL RESOURCES You can find out more about which cookies we are using or switch them off in settings. 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. 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. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . 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. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. 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 returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. 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. Were looking at assets in some parts of Europe that definitely offer double digit returns and we are also looking at assets in other parts of the world that are lower than that, he told Reuters in an interview this month. 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. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. A year ago, Lightsource was the established solar leader in Europe. First Solar Investor Relations London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . 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). Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. Delivered by Investis. You can change your cookie settings at any time. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. The parent company financial statements of 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. (Loading)*. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Helge Lund, chair Chair's letter pdf / 264.7 KB 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. 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. 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. The new facility is expected to be commissioned in the first half of 2023 and when fully operational will scale the companys Northwest Ohio footprint to a total annual capacity of 6GW, which is believed to make it the largest fully vertically integrated solar manufacturing complex outside of China. You can change your cookie settings at any time. 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. You can sign up for additional alert options at any time. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Every region receives a tailored approach and is managed by a local team. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. 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 is a global leader in utility-scale solar development and management. 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. This website uses cookies so that we can provide you with the best user experience possible. The Material may contain certain forward-looking statements, forecasts or projections with respect to the financial condition, results of operations and businesses of bp and certain of the plans and objectives of bp with respect to these items. Read story Prev 1 2 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.
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