lightsource bp annual report lightsource bp annual report

But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. It makes good business sense, too. Building scale with capital discipline and returns focus. (Loading), USD But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. 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. November We use cookies to collect and analyse information on our site's performance and to enable the site to function. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. 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. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. BP <BP.L> is getting back into solar power six years after its first, failed foray, with a $200 million investment in solar generator Lightsource that the oil and gas firm expects will deliver . 2023 Lightsource. This is where we come in. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Our purpose is to deliver affordable and sustainable solar. 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. About Lightsource bp BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . After submitting your request, you will receive an activation email to the requested email address. ()*, GBp 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. (Loading), USD The company and each of its subsidiaries are separate legal entities. See here for a complete list of exchanges and delays. We are using cookies to give you the best experience on our website. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. Choose a career where you are empowered to change the world! About First Solar, Inc. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. Delivered by Investis. 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) Read story 28 Nov, 2022 COP 27: Meet the Lightsource bp delegation The rapid deployment of solar power on a vast scale is essential to limit global warming to 1.5C. In addition to its Ohio manufacturing facilities, First Solar also operates factories in Vietnam and Malaysia, and has previously announced plans to build a new 3.3GW factory in India that is expected to be commissioned in the second half of 2023. 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. Lightsource bp Renewable Energy Semiconductor Manufacturing . 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. It is not even the beginning of the end. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. Oversee onboarding of new facilities. solar projects developed worldwide to date, US solar projects in construction or operations, USD project financing raised in the US since 2019, Executed US power contracts with clients in 11 states. Where we refer to the company, we mean BP p.l.c. The great majority of this investment will fund Lightsource's. The bp Annual Report and Form 20-F 2021 contains the Strategic report on the inside front cover and pages 1-80 and the Directors report on pages 81-115, 116 (in part only), 142-143, 254-281 and 337-388. 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. 2023 Lightsource. 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. for the year ended 31 December 2021. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. The modules, scheduled. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. 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. 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. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. (), USD Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. For more information please visit www.lightsourcebp.com. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. (), USD Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. This website uses cookies so that we can provide you with the best user experience possible. Find out more about how Lightsource bp works and operates and our partnership with bp. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Choose a career where you are empowered to change the world! Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. You can find out more about which cookies we are using or switch them off in settings. of 1 each. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. November:expansion into Italy, Iberia and Brazil is announced. You can sign up for additional alert options at any time. 2023 Lightsource. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. Discover how we are creating a positive impact across energy, the environment and our people. 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. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. 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. 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. Home, Britoil, Lightsource BP, Llandarcy. High-grading our portfolio, lowering our emissions and driving returns. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. Find out more about us and how were working together to create a sustainable energy future for us all. The full details of our Gender Pay Gap Report 2018can be found here. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. As a business, we also care deeply about our culture and values, invest in our teams, and place people and communities at the heart of the decisions we make. GBp BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 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. 8.3 MB. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. 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. (Loading)*. 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. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. November:contracts are signed for 25MW of solar power in Western US. Construction on this project commenced in December 2019. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. In a statement Thursday, Lightsource bp which oil. Lightsource and bp celebrate five-year anniversary. Lightsource bp is a global leader in utility-scale solar development and management. Find out more about our sustainability strategy and initatives. 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. 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. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. Our success is built on more than just our solar projects. 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. We are using cookies to give you the best experience on our website. New Mexico November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. The parent company financial statements of BP p.l.c. 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. Lightsource BP, like rivals including Frances Total , sees further opportunities for profits from selling solar and wind power projects it had developed from early stages. in 2001. 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. 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. You should not place undue reliance on these forward-looking statements. Lightsource bp Renewable Energy Investments Limited. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Delivered by Investis. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. It is just the start for us in Latin America, Souflis adds. 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 . Brooks has a Winston Churchill quote in mind: Now, this is not the end. Designed and developed at its research and development (R&D) centers in California and Ohio, First Solars responsibly produced advanced thin film PV modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. 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. 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. 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. December 2022 marks five years since bp and Lightsource entered into a partnership to become Lightsource bp a 50:50 joint venture between the companies. If you experience any issues with this process, please contact us for further assistance. Every region receives a tailored approach and is managed by a local team. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. 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. Assist in contract negotiation and. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by 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. The brand gives us a credibility that it would take 30 years to develop on our own. 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. Legal notice in relation to the material on this page. Information in the bp Annual Report and Form 20-F 2021 reflects 100% of the assets and operations of the company and its subsidiaries that were consolidated at the date or for the periods indicated, including non-controlling interests. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . investor@firstsolar.com All rights reserved. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. 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. All rights reserved. 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. This is exactly the type of energy we want to develop and deliver as we continue to build out our renewable pipeline and ultimately strengthen confidence in our target of delivering 20GW of developed renewables by 2025.. 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. 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? Here are some examples of how we performed in 2021. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. 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. 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. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. Partnerships are a key part of our approach, enabling better and faster utilization of our network. With smaller pockets, comes a different approach. Lightsource bp is a global leader with local impact. 260MW of affordable, clean and locally generated electricity for Texas communities. 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. 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. 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. Procurement agreement with US-based manufacturer. 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. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. 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 represent the opposite of that.. 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. 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. 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 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. 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. And the next big steps are bigger projects and more volume. of 25 cents each. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. 2023 Lightsource. 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. Post Online Media. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. 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. 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. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. Helge Lund, chair Chair's letter pdf / 264.7 KB What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. BP p.l.c. 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. You can find out more about which cookies we are using or switch them off in settings. 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. Lightsource and bp celebrate five-year anniversary.