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With smaller pockets, comes a different approach. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. for the year ended 31 December 2021. Brooks has a Winston Churchill quote in mind: Now, this is not the end. 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, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. 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 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. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. Lightsource bp Closes Financing Package and Mobilizes Construction on 2023 Lightsource. 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. All quotes delayed a minimum of 15 minutes. 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. 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 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. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. It makes good business sense, too. 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. 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. This is where we come in. 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. Our sector is fundamentally about financing. 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. There is going to be a huge amount of capital flow into new business models, he predicts. You can find out more about which cookies we are using or switch them off in settings. At Lightsource bp, weve been developing utility-scale solar projects since 2010. 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. Lightsource and BP Join Forces to Drive Growth in Solar Power What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. Our success is built on more than just our solar projects. 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. 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. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. Report this post Report Report. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 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. 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. Annual Gender Pay Gap Report Published in the UK | Lightsource bp You've accepted analytics cookies. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. 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. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. Lightsource and bp celebrate five-year anniversary. All rights reserved. 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,. 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. 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. 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. All rights reserved. Building scale with capital discipline and returns focus. We power businesses and communities across the US with clean and affordable energy solutions. That's enough to power approximately 86,000 homes in New South Wales. BP returns to solar with investment in Lightsource | Reuters 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? Will stimulate local economy by bringing an estimated $30 million in new revenue to the . *Market data delayed by 20 minutes. 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. 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? 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. All rights reserved. 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. New Mexico GBp BP will invest $200 million in Lightsource over three years for a 43% stake in the business. 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. 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 . Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. Home - Lightsource bp 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). Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. 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. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. 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. bps finances are strong and resilient. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. 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. 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. 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. Home, Britoil, Lightsource BP, Llandarcy. Find out more about how Lightsource bp works and operates and our partnership with bp. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. 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. You can find out more about which cookies we are using or switch them off in settings. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. 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. 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. Read more about supporting local communities, Procurement agreement with US-based manufacturer. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. 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. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. 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. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . is the parent company of the bp group of companies. 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. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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 our sustainability strategy and initatives. 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. 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. 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. 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. Lightsource bp launches Bighorn Solar project in Colorado - powering Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. Estimated to abate 204,000 metric tons of carbon dioxide (CO2) emissions each year, equivalent to annual emissions from about 44,000 fuel burning cars. pdf / To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. COLUMBUS, Ohio-- ( BUSINESS WIRE )--Lightsource bp has executed a power purchase agreement with Amazon for a new 375 megawatt (MWdc) solar project under development in Ohio, as part of Amazon's. For more information, please visit www.firstsolar.com. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. You can find out more about which cookies we are using or switch them off in settings. Lightsource bp pays for the first $800 of the monthly insurance premium. Procurement agreement with US-based manufacturer. 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. 2023 Lightsource. Speaking about the future growth of Lightsource BP, Brooks says: Ive no doubt that we will be 10 to 15 times the size we are today in a decade. Dont underestimate the ambitions of the Lightsource BP team, he warns. 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. You've rejected analytics cookies. 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. ()*, GBp Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. Lightsource bp Renewable Energy Investments Limited. ()*, GBp 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. Ordinary shares are ordinary fully paid shares in BP p.l.c. See here for a complete list of exchanges and delays. 2023 Lightsource. If you experience any issues with this process, please contact us for further assistance. Lightsource BP - Wikipedia April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. We are using cookies to give you the best experience on our website. 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. February 27, 2023. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. Solar projects already meet BP's profit goals, Lightsource BP says You can find out more about which cookies we are using or switch them off in settings. This website uses cookies so that we can provide you with the best user experience possible. 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. 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. 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. 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. 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. Contact info@lightsourcebp.com SOCIAL RESOURCES 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. Partnerships are a key part of our approach, enabling better and faster utilization of our network. 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. We work with businesses and communities around the world to deliver low-carbon solar energy projects. 2018, The BP partnership has definitely given our whole team confidence. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. We use cookies to collect and analyse information on our site's performance and to enable the site to function. The Directors remuneration report is on pages 116-141. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. 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. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. 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 using cookies to give you the best experience on our website. Lightsource and bp celebrate five-year anniversary. (Loading)*. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. (Loading), USD 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. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. This website uses cookies so that we can provide you with the best user experience possible. BPs shares linger near 25-year lows after it halved its dividend in August. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. BP and Lightsource announced the partnership in December. 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. Lightsource bp gets financing for massive Pointe - Business Report Sustainability is at our core. And, if youre confident, you can put your head down and deliver. Doubling adjusted EBITDA, sustaining returns, focused on customers. 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. BP International Limited. 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. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. 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. 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 great majority of this investment will fund Lightsource's. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. 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. 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. 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 bpdistributionservices@bp.com. We use cookies to collect and analyse information on our site's performance and to enable the site to function. Lightsource bp hiring Manager, Storage Application in Denver, Minnesota This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. It is just the start for us in Latin America, Souflis adds. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 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 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. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. We represent the opposite of that.. We use cookies to make our services work and collect analytics information. November:contracts are signed for 25MW of solar power in Western US. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. 'The potential for solar is huge': future looks bright for Lightsource BP

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