lightsource bp annual report

If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. Lightsource bp Renewable Energy Investments Limited. 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. And the next big steps are bigger projects and more volume. A year ago, Lightsource was the established solar leader in Europe. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. Brazil is a massive market with huge potential. Earlier this year, First Solar announced that it will invest $680 million to expand Americas domestic PV solar manufacturing capacity by 3.3GW annually, by building its third US manufacturing facility, in Lake Township, Ohio. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. We are using cookies to give you the best experience on our website. The full details of our Gender Pay Gap Report 2018can be found here. BP International Limited. 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. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. 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. 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. Our team includes over 500 industry specialists, working across 15 countries. 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. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. We know many ways in which to finance projects and understand the market for financing very differently.. You should not place undue reliance on these forward-looking statements. In a statement Thursday, Lightsource bp which oil. We power businesses and communities across the US with clean and affordable energy solutions. 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. 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. 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. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. This website uses cookies so that we can provide you with the best user experience possible. Home, Britoil, Lightsource BP, Llandarcy. 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. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Modern Slavery And Human Trafficking Statement. Where we refer to the company, we mean BP p.l.c. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. GBp If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. bps finances are strong and resilient. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. Sustainability is at our core. 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 the development and management of solar energy projects, and a 50:50 joint venture with bp. For more information please visit www.lightsourcebp.com. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. 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 . It, however, recorded an operating loss of 24.5 million pounds in 2019 compared with a 15 million pound loss a year earlier, as a result of higher investments in new projects. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. for the year ended 31 December 2021. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. 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. New Mexico For First Solar Investors April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). 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. November pdf / And, if youre confident, you can put your head down and deliver. You must click the activation link in order to complete your subscription. 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. 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. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . The 260-megawatt Impact . There is going to be a huge amount of capital flow into new business models, he predicts. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. 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. Back Submit . This website uses cookies so that we can provide you with the best user experience possible. 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. 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. 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. The project will be the largest solar project in the state and will help McDonald's and eBay meet their sustainability goals and advance their commitment to climate action. 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? In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Actual results may differ materially from those expressed in such statements depending on a variety of factors. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. February 27, 2023. BPs shares linger near 25-year lows after it halved its dividend in August. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Brooks has a Winston Churchill quote in mind: Now, this is not the end. (Loading)*. 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). The bp Annual Report and Form 20-F 2021 available for download on this webpage constitutes the Annual Report and Accounts in accordance with UK requirements and the Annual Report on Form 20-F in accordance with the US Securities Exchange Act of 1934, for BP p.l.c. 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. *Market data delayed by 20 minutes. About bp 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. It is just the start for us in Latin America, Souflis adds. 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. BP are able to deliver more than just solar. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. of 25 cents each. Our Standards: The Thomson Reuters Trust Principles. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 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. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. 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. 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. 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. Our sector is fundamentally about financing. These modules are a critical step in delivering our 9GW solar pipeline that will provide affordable energy, create jobs, bolster the supply chain and deliver the type of returns our investors expect. Lightsource bp Renewable Energy Semiconductor Manufacturing . 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. With smaller pockets, comes a different approach. BP undoubtedly lends its global scale, built up over more than a century, to the partnership, opening doors and sharing its knowledge of operating in territories covering the US, India, Europe and the Middle East. Here are some examples of how we performed in 2021. Lightsource bp is a global leader in utility-scale solar development and management. 2.2 MB. Lightsource bp Renewable Energy Investments Limited. You can find out more about which cookies we are using or switch them off in settings. 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 . July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. All rights reserved. Our success is built on more than just our solar projects. Contact info@lightsourcebp.com SOCIAL RESOURCES 2023 Lightsource. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. High-grading our portfolio, lowering our emissions and driving returns. 264.7 KB. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. farmers and ranchers face increasing economic stress. 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. of 1 each. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. Lightsource BP is a British company with headquarters in London, and offices in Madrid, Milan, Athens, San Francisco, Philadelphia, Mumbai, New Delhi, Cairo, Melbourne, Amsterdam, Bath, Belfast and Dublin. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. "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. 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. 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. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. I started in this business six years ago, when we were just finding our feet in the UK and a few hundred megawatts seemed a big ambition. Ordinary shares are ordinary fully paid shares in BP p.l.c. If you experience any issues with this process, please contact us for further assistance. 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 / 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). Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. Read more about supporting local communities, Procurement agreement with US-based manufacturer. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. 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. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. 8.3 MB. 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. You can find out more about which cookies we are using or switch them off in settings. Lightsource bp is a global leader in utility-scale solar development and management. Delivered by Investis. Lightsource bp Renewable Energy Investments Limited. 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 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. Find out more about us and how were working together to create a sustainable energy future for us all. (), USD As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. 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 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. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. 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. Lightsource and bp celebrate five-year anniversary. 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. Read story Prev 1 2 In March 2016, Lightsource Renewable Energy successfully completed and connected Europes largest floating solar farm, installing 6.3MW on the Queen Elizabeth II Reservoir, near London. This is where we come in. 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. We are using cookies to give you the best experience on our website. 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. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. Find out more about how Lightsource bp works and operates and our partnership with bp. Procurement agreement with US-based manufacturer. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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. 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. It is not even the beginning of the end. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 investor@firstsolar.com Lightsource and bp celebrate five-year anniversary. We continue to grow teams, partnerships and projects throughout the world. Lightsource bp is an international solar business. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. 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. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. Choose a career where you are empowered to change the world! Every region receives a tailored approach and is managed by a local team. Our growth has been in maturing the organization and getting into a strong operating position for next year. 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. *Market data delayed by 20 minutes. We have always been driven, and our partnership with BP is a great enabler. As a business we care deeply about the impact of our projects, our culture and values, and our team members. Construction on this project commenced in December 2019.