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Procurement agreement with US-based manufacturer. After what he calleda period of strategic introspection, which included scrutinizing35 companies,BPmade itsinitial $200 million investment in Lightsource in 2017, creating Lightsource BP. Within 45 minutes at Lightsource BPs Holborn office, the same home its had for four years now, the impact BPs presence and position in the company has had is evident. In that year, Lightsource BP also signed a 25-year power purchase and asset acquisition agreement with Mid-Kansas Electric Company in Stanton County, Kansas, United States. Lightsource bp Renewable Energy Investments Limited. Europe, Menlo Park, China), This describes the type of investor the person is (e.g. As I look at the second half of the decade, we will still see massive growth in solar. It has also agreed a deal to supply electricity to Amazon from an existing solar farm in Ohio, and to supply power to BP service stations from solar farms in New South Wales, Australia. But for now, Lightsource BP makes up 83 percent of its 20 GWdevelopment pipeline, withanother 21 GW of what it calls early-stage options.Sanyal said he expectsthe initial 20 GW target for 2025 to be largely serviced by solar,with more diversification coming for the 50 GW goal set for 2030. The project comprises 200,000 LONGi Solar photovoltaic panels ground-mounted across 240 acres (97 ha). Of all the offers, BP matched up best on culture, ethos, ambition and its "understanding and belief about the potential of solar," and not anything to do with BP being British, he insisted. Lightsource BP earlier this month struck a deal to build the largest solar farm in the US state of Louisiana to supply clean energy to McDonalds and eBay. But Boutonnat insists the firm has no such ambitions, with Lightsource BP considering it more rewarding to go worldwide with what they do now than to go deeper in any one jurisdiction. PV is, in 60% of those countries the cheapest form of electricity generation. Tom Allen is Completely committed to comedy and 'Auntie Glo', Weekend Q&A: ran Clarke from NI Opera's Nobody/Somebody, Mary Kelly: Unionists' tendency to turn a gift horse into a tin of dogmeat is legendary - and their Westminster chums are getting fed-up with it. Through its involvement in the firm, BP has been able to fling open doors that Lightsource wouldve otherwise struggled to move by an inch. This website uses cookies so that we can provide you with the best user experience possible. Shoe designer and creative Salehe Bembury takes us on a journey from his childhood growing up in Manhattan, to an invaluable degree in industrial design, to working with some of the biggest names in fashionbefore breaking off to make his own name. Solar developer expects to take on 570 new employees this year, Its moving into markets such as South Korea and New Zealand, Photographer: Mike Plonsky/Lightsource BP. "The target is 10GW by 2023," Nick Boyle told The National in an interview in Abu Dhabi. Suddenly, government-backed energy offtakers and bankable counterparties alike are keener to do business. Nick, welcome, and thank you for taking the time to speak to us today. Those numbers might sound as ridiculous as selling U.K. solar power for 0.04 per kilowatt-hour sounded in 2010. With Lightsource now a decade oldand its partnership with BPinits fourth year,Lightsource BP CEO Nick Boyle and Dev Sanyal,BPs EVP for gas and low-carbon energy,spoke to GTM about their progress thus far and what the next 10years may hold. ick Boyle, the founder and chief executive of solar power giant Lightsource, IfBPs change of heart isnt a U-turn, its certainly a major detour, BPscales back climate goals as profits more than double to 23bn, BPcriticised over plan to spend billions more on fossil fuels than green energy, Donate wartime profits to Ukraine or pay windfall tax, MPs tell BP, BPshares in Kremlin oil firm are blood money, says Zelenskiy adviser, BPdeclines to reveal how much loophole saved it in windfall tax, Calls for extension of windfall tax as BP posts eye-watering profits, BPdeclares 7bn profits while energy bills soar? Personally, I find that half of the fun of my role is all that there is to do. Free intelligence and insights from industry experts and leading companies on the global energy transformation. It wouldve been easy to accuse BP of greenwashing. Boyle insists that it is therefore common sense that O&G firms are getting involved in solar, describing it as a natural progression for the organisations. In answering a question aboutthat 8 to10percent figure duringitsQ2 investor call,CFO Murray Auchincloss told investors that BPthought it could get low-carbon returns well into the double-digit [percentage] range, althoughit wasnt ready to promise as much right now. As Lightsource BP continues its rapid growth across North, . They just have this very can-do, empowering mentality that suits us perfectly, Boyle says. Paul co-founded the company in 2010. I already had experience in renewables in Europe, and it was clear to me that there was a great opportunity and a lot of potential in the proposition in the UK. The potential for solar is absolutely huge.. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. I Fully Converted a Home to Electricity. 2023 Lightsource. As we add more countries, and therefore a higher percentage of non-OECD [geographies], our assumption is that those average returns will actually go up, said Boyle. Lightsource BP won the offtake contract through a 450MW tender process. Lightsource BP, like most, if not all, solar developers in the UK active since 2015, endured some troubled times as the Conservative axe fell on a whole range of subsidies following their election in May 2015. Lightsource BP - Wikipedia Lightsource BP still manages the portfolio of installs in the UK, but sees this market as a longer-term play, usurped by markets like Australia where Lightsource BP has concentrated a not insignificant amount of resource as the countrys energy market battles spiralling network costs. Ongoing US sanctions against Chinas solar supply chain threaten to raise costs, and slow the pace of the industry globally. [citation needed] In 2013, Lightsource completed a 5MW rooftop solar PV installation at Bentley Motors' factory in Crewe. Lightsource bp Renewable Energy Investments Limited. [2] At the same year, the company established teams in North America, the Netherlands and India. Jake O'Kane: Is the DUP really going to sink the Assembly and reject the Windsor Framework? Lightsource BP Completes Financing on 260 MW Solar Project in Texas In 2010, Nick founded Lightsource Renewable Energy, then just a six-person start-up, which quickly grew over 5 . Batteries are helping to optimize the power grid and opening up new applications and services for utilities and service providers. Dating & Relationship status He is currently single. Solar energy is expected to play a crucial role in helping BP meet its 2030 renewable energy target because solar farms can be rolled out far quicker than its plans to build offshore wind farms by the second half of the decade. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Our industry-leading 25GW by 2025 target and the finance package are further proof that Lightsource has left business as usual far behind., Get the day's headlines delivered directly to your inbox, Watch for the April 5 investment tax change, Preparing for a future sale of your business, Mediterranean countries push for more solidarity in migrant crisis, Donaldson: DUP won't be knocked off course by rhetoric over Framework. Lightsource, the solar arm of the global energy major BP, is looking at as much as $8 billion (Dh29.4bn) worth of projects worldwide as it looks to deploy 10 Gigawatts of capacity by 2023, according to its chief executive. Boyle says Lightsource BP has continued to flourish in such adversity as a result of always being willing to push the boundaries of what was thought possible. In 2018, the company completed its first international installation, a 60 MW solar farm in Maharashtra, India. In the past year Lightsource BPs headcount has risen by around 20%, and theres still at the time of writing another 64 vacancies to fill. BP'sSeptembercapital markets eventalso revealed more details on the extent of the company'srenewable options. [citation needed] Also in 2018, the company formed a joint venture Lightsource BP Powered by Hassan Allam Utilities in Egypt with HA Utilities, the utilities subsidiary of Hassan Allam Holding. Nick Boyle - Group CEO - Lightsource BP | LinkedIn And big companies like Amazon, McDonald's and eBay are switching to clean energy. [4], In 2016, the company launched Europe's largest floating solar project at the Queen Elizabeth II Reservoir, in Walton-on-Thames. Since last December operations have been opened in Egypt and Brazil amongst others, and the company is now active in 11 jurisdictions worldwide. [5], In 2016, Lightsource completed the Crookedstone Solar Farm, in Antrim, Northern Ireland, which provides a third of the Belfast International Airport's electricity needs.[1]. All rights reserved. View the executive profile of Nick Boyle, Group Chief Executive Officer at Lightsource Renewable Energy, on Equilar BoardEdge to see current and past work history and gain access to Nick Boyle's network of 5 business contacts. 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Lightsource BPs Vendimia solar project in Spain. Speaking about the appointment, Nick Boyle, Group CEO, said: "At Lightsource bp, we've always said that our strength is our people, and that is true from top to bottom. At the end of the day there shouldnt be a trade-off between the advantages of renewables and the disadvantages of individuals being put through hardship, he says. Jobs Number of Current Jobs 1 Nick Boyle is the Founder and CEO at Lightsource Renewable Energy. It all began at the end of 2010, when Lightsource Renewable Energy set up shop with six people crammed into a tiny corner of a London office. Energy Leaders Talks: Nick Boyle - Group CEO, Lightsource BP We see how Bembury is able to walk the line of business convention while taking his art to new heights, turning ordinary items into extraordinary footwear. This trend proves that renewables are mainstream and solar is playing a key role in addressing the climate crisis. Floating solar, bifacial modules and the central versus string inverters debate sit on Lightsource BPs immediate R&D list at the moment. This is always an amusing one for me, Boyle says. A revolution in the renewable energy sector: The journey of Lightsource 2010 still feels like yesterday to me, when six of us gathered in the . This website uses cookies so that we can provide you with the best user experience possible. The companys pipeline shrank and more than 50 jobs were lost after the firm completed a reconsideration of its direction in the aftermath. Throughout his career, Nick has always been recognised for his entrepreneurial skill and success in pairing retail financial products with low-risk, predictable investments. 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Hydrogen could be shipped around the world as an energy source which essentially came from the sun but is captured as a gas, and burned the same way as historic hydrocarbons, Boyle says. Nick Boyle, Lightsource Renewable Energy: Profile and Biography Lightsource bp Global CEO Nick Boyle speaks about the company's ambitious new target, and how they plan to achieve 25GW by 2025.-------------------------------------------------- Read more about: Lightsource bp - an international solar business: https://www.lightsourcebp.com/ Our innovative solar farms and solar energy projects: https://www.lightsourcebp.com/projects/ How we contribute to global sustainability through responsible solar projects: https://www.lightsourcebp.com/sustainability/ Latest news and insights about renewable energy and our solar power projects: https://www.lightsourcebp.com/news/ Our career opportunities and culture: https://www.lightsourcebp.com/careers/ ---------------------------------------------- Follow us on: Twitter: https://twitter.com/lightsourcebpLinkedIn: https://www.linkedin.com/company/lightsourcebpInstagram: https://www.instagram.com/lightsourcebp ---------------------------------------------- Subscribe to our YouTube channel: https://www.youtube.com/user/LightsourceSolar Watch our project videos: https://www.youtube.com/watch?v=APeV6w3NJXU\u0026list=PLBvK2q4_2ziphjtA764FSS5D9csdmVUvi Watch our educational videos: https://www.youtube.com/watch?v=XwdKPNRIWls\u0026list=PLBvK2q4_2ziqGufApfrbMHHSTcmNOemYO -------------------------------------------------- About Lightsource bp: Lightsource bp is an international solar business. Watch the CIBC video featuring our Global CEO, Nick Boyle, on how we're helping fight climate change through responsible development of solar energy projects. 'The potential for solar is huge': future looks bright for Lightsource The UKs supply market is richly competitive handfuls of Ofgem licensees have gone bust in recent weeks and not even innogy can make head nor tail of it but new, digital-minded entrants have found success in a market desperately in need of innovation. With an Energy Crisis Brewing, No Peak in Sight for Emissions, Why TransitTech Is So Vital to Struggling Public Transportation Systems. Joined 2010, UK I co-founded Lightsource in 2010, and the whole thing came about almost completely by accident. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Green hydrogen is the perfect example of this. His net worth has been growing significantly in 2021-2022. John Parnell December 01, 2020 X He said BP's investment in the firm he founded was a "complete game changer" - especially since. Lightsource's search coincided with BP's hunt for a solar developer to partner with. We didnt sit back and plan to deliver 10GW; we realised at some point the question would be asked: Have you got the capability to do more? Boyle says. Lightsource BPs initial goal was to use the oil giants financial muscle to grow a 1.6 gigawatt pipeline of solar projects to a portfolio of 10GW of solar investments by 2023. Lightsource bp targets 25GW of solar development by 2025 Lightsource BP was one of the companies that sourced their panels and components from the companies linked to Xinjiang, albeit prior to 2016 when the state-sanctioned abuse of Uyghur communities began to gain international attention. It takes a lot of energy. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. BP to acquire $200m worth stake in Lightsource - NS Energy The oil giant'searly forays into solar manufacturing weren't well aligned with its core business and endedin 2011. Will His AI Plans Be Any Different? All rights reserved. His responsibilities include debt and equity fundraising for all solar asset developments, project investment structuring and M&A. [citation needed], In 2019, BP increased its stake in Lightsource BP to 50%. N ick Boyle, the founder and chief executive of solar power giant Lightsource BP, is striding through its central London headquarters speaking as quickly as he walks. Staff numbers will almost double from fewer than 600 at the start of the year. Nick Boyle Group CEO Nick is Global CEO and founder, starting up Lightsource Renewable Energy in 2010. You can find out more about which cookies we are using or switch them off in settings. Partner with us | Sustainable Renewable Energy | Lightsource bp Far be it from us to remark that a fossil fuel company may have blazed a trail, but the new direction of travel is stark. Cardiff see off Bristol City for impressive derby win, Ange Postecoglou feels Viaplay Cup win has sharpened competition at Celtic. Boyle has said on the record that Lightsource BP is already hitting 8 to10 percent as a global average. You wake up every morning with a list to achieve, and its all good stuff, things that drive the business forward, things that make a measurable difference.
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