Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. 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. BP and Lightsource announced the partnership in December. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. 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. Our team includes over 500 industry specialists, working across 15 countries. All rights reserved. For First Solar Investors 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. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. You've rejected analytics cookies. LSbp's first site produced just 0.7 megawatts (MW) of solar power. bps finances are strong and resilient. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. New Mexico 2023 Lightsource. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Delivered by Investis. 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.. *Market data delayed by 20 minutes. 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. We have always been driven, and our partnership with BP is a great enabler. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. 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. The material on the bp Annual Report webpage (the Material) relates to the year ended 31 December 2021 and is provided for general information only. 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. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. Building scale with capital discipline and returns focus. 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. November 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. We use cookies to collect and analyse information on our site's performance and to enable the site to function. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. A year ago, Lightsource was the established solar leader in Europe. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. All rights reserved. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. "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. 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. of 1 each. Lightsource bp Renewable Energy Investments Limited. After submitting your request, you will receive an activation email to the requested email address. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. 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 Material does not (i) form part of the bp Annual Report and, pdf / Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. 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. 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. 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. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. Report this post Report Report. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. 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. 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. November:expansion into Italy, Iberia and Brazil is announced. You can change your cookie settings at any time. Lightsource bp is a global leader in utility-scale solar development and management. Brooks has a Winston Churchill quote in mind: Now, this is not the end. 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. About bp (), USD Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. BP are able to deliver more than just solar. You can find out more about which cookies we are using or switch them off in settings. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Annual report Performing while transforming Annual Report and Form 20-F 2021 pdf / 8.3 MB Strategy Business model Remuneration Key downloads 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. 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. Delivered by Investis. 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 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 . With smaller pockets, comes a different approach. The BP partnership has definitely given our whole team confidence, Brooks says. 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. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. Our Standards: The Thomson Reuters Trust Principles. 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 The parent company financial statements of BP p.l.c. The ability to bring base load is something that a trading operation like BPs can deliver, Lightsource BP chief operating officer and co-founder Kareen Boutonnat said. Every region receives a tailored approach and is managed by a local team. Brazil is a massive market with huge potential. It makes good business sense, too. 8.3 MB. 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. About Lightsource bp This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. The 260-megawatt Impact . 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. Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/16dda5bd-3fb9-4df3-a008-49c75d6999d5, https://www.globenewswire.com/NewsRoom/AttachmentNg/f00065c2-75ab-46b9-b9e8-b9057d21ae52. 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. 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. All rights reserved. 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. 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). 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. 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. 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. Lightsource bp is a global solar leader and 50:50 JV partner with bp, working with utilities, businesses, local communities and governments to help meet the rising demand for affordable, reliable and sustainable energy. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. 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? From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. 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. 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. You can change your cookie settings at any time. 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. 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 use cookies to make our services work and collect analytics information. 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. Sustainability is integrated into our business strategy and operating model at every level. ()*, GBp 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. 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. 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. This result is much lower than the UK average (this year 8.6% in favour of men), and is largely due to the composition of our workforce. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. GBp 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. 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.. 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 . 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. You should not place undue reliance on these forward-looking statements. We work with businesses and communities around the world to deliver low-carbon solar energy projects. 264.7 KB. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. Ordinary shares are ordinary fully paid shares in BP p.l.c. Group Results Fourth Quarter and Full Year 2019 Highlights. About First Solar, Inc. This website uses cookies so that we can provide you with the best user experience possible. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. For more information on bp in the US, visit www.bp.com/us. 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 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. Find out more about us and how were working together to create a sustainable energy future for us all. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. The Directors remuneration report is on pages 116-141. Lightsource bp Renewable Energy Investments Limited. 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. 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. 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. This website uses cookies so that we can provide you with the best user experience possible. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. 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. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. For more information, please visit www.firstsolar.com. Our purpose is to deliver affordable and sustainable solar. The team is keen to get started in a country where solar is currently heavily underrepresented in the power generation mix but provides a cheaper, flexible, quick-to-deploy energy option that can be placed close to where the demand is. 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. We are using cookies to give you the best experience on our website. Helge Lund, chair Chair's letter pdf / 264.7 KB Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. 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. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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. 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. The companys primary share listing is the London Stock Exchange. 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. 260MW of affordable, clean and locally generated electricity for Texas communities. 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. As a business we care deeply about the impact of our projects, our culture and values, and our team members. pdf / Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. It is a key element in BP CEO Bernard Looneys plan to grow BPs renewable power generation capacity 20-fold by 2030 to 50 GW from solar and wind power. First Solar, Inc. (NASDAQ: FSLR) today announced that global solar leader, Lightsource bp has placed an order for 4 gigawatts (GW)DC of advanced thin film solar modules. BP International Limited. 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. That's enough to power approximately 86,000 homes in New South Wales. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. BPs shares linger near 25-year lows after it halved its dividend in August. We power businesses and communities across the US with clean and affordable energy solutions. This website uses cookies so that we can provide you with the best user experience possible. 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.
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