Research and development spending and scope has increased since last year, and Lightsource Labs the main element of a wide-ranging R&D arm that spans from Greece to Palo Alto now examines everything from a 10-year range, something which Boutonnat described as a big step for the company. It worked. He is a member of Lightsource bps investment committee and a board director. At the time, the U.K. had installed next to no solar. Nick Boyle's net worth is currently estimated at $7 million. As a leading global solar developer, and 50:50 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 has not used Chinese-made solar panels for years now due to the US sanctions, and is working with industry groups across its geographical portfolio to help improve the traceability of the solar supply chain. Lightsource's search coincided with BP's hunt for a solar developer to partner with. And yet, thats exactly what we did.. This website uses cookies so that we can provide you with the best user experience possible. Personally, I find that half of the fun of my role is all that there is to do. Check out all of our energy storage resources. Were not on the trajectory we imagined 10 years ago, but were definitely not complaining. 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. Heres How It Worked and What It Cost, Congress Passes Spending Bill With Solar, Wind Tax Credit Extensions and Energy R&D Package, Global solar PV operations & maintenance (O&M) 2020. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. 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. BP has evidently lit something of a fire under Lightsources global ambitions, but not at least not yet given the firm aspirations of a more entrenched role in the energy market. As Lightsource BP continues its rapid growth across North, . In the future, demand for solar electricity will be fuelled by two things: the boom in low-cost batteries that mean solar can be used at any time, and the desire to produce green hydrogen made from renewable electricity and water which will mean solar will effectively be used anywhere from sea to train to plane. Theres no slowing down solar, he says. Green hydrogen is the perfect example of this. Lightsource bp Global CEO Nick Boyle speaks about the company's ambitious new target, and how they plan to achieve 25GW by 2025.----- Learn more about u. People who compare the returns on solar with oil and gas miss the fact that theyre comparing an apple to a fish.. [citation needed], In 2019, BP increased its stake in Lightsource BP to 50%. In his role as Group CEO, Nicks dynamic leadership and vision has driven the company to tremendous success and in December 2017, Lightsource. Having independence in how you do things, and working with people who really enjoy what they do, are some of the best parts of working for a small (ish) company. Within five years, Lightsource became Europe's largest solar player and operator. There is, too, a strong focus on optimising the actual use of electrons both in the home and in C&I applications, something which stems from a solar, storage and home energy management system pilot launched alongside EDF two years ago dubbed Sunplug. Lightsource BPs Vendimia solar project in Spain. Lightsource group CEO and founder Nick Boyle said: "We founded Lightsource to lead the solar revolution and chose to partner with BP because, like us, their ambition is to build and grow this company for the long-term. He said BP's investment in the firm he founded was a "complete game changer" - especially since. The fact that we are able to deliver with confidence allows BP to believe that their early 2025 [interim target] is actually doable predominantly through solar, and thats important to them.. 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. This is always an amusing one for me, Boyle says. That confidence that Lightsource BP has fed into that new strategy can also be illustrated through the numbers. Nick Boyle Nick Boyle Group CEO, Lightsource bp Published Dec 1, 2020 + Follow This month, our business becomes ten years old. Paul McCartie, Group Chief Investment Officer. In 10 years, Lightsource bp (LSbp) has gone from feisty start-up to shining light on the solar scene. The future in hydrogen alone makes the 25GW target look small. 2010 still feels like yesterday to me, when six of us gathered in the . If we compare what BP is like to what our previous [funders] were like, there is no comparison. This idea of 'build back better'is actually how you can createthe energy industry, the future, rather than just the past.. Lightsource BP salary income and net worth data provided by People Ai provides an estimation for any internet celebrity's real salary income and net worth like Lightsource BP based on real numbers. 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. 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. Boutonnat is perhaps a little more nuanced in her argument that its BPs globalisation that brings people to the seventh floor at 33 Holborn, and the sense that, in pursuing markets where subsidies are not granted or required, Lightsource is more in charge of its own destiny than it was before. We already have momentum, Boyle says. Lightsource BP, a solar developer part-owned by BP Plc, expects to add 570 employees around the world this year. Why would we go to a market where BP arent, when we could go to a similar where they are, and get afforded all of that extra support, Boyle says. Sodid BPs experience with Lightsource BP help it to formulate that strategy? With headquarters in London, the Lightsource is now active across EMEA, The Americas and APAC. [7], In 2022 Lightsource BP raised $A540 million to develop two new zero emission projects in the Australian states of New South Wales and Victoria. The project comprises 200,000 LONGi Solar photovoltaic panels ground-mounted across 240 acres (97 ha). By the same analogy investing in solar would be like digging a hole and knowing how much oil is there, how much it will cost and how much youll be paid for it before you start, Boyle says. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. Jobs Number of Current Jobs 1 Nick Boyle is the Founder and CEO at Lightsource Renewable Energy. In 2018, the company completed its first international installation, a 60 MW solar farm in Maharashtra, India. We knew that the interest in solar and renewables was going to rise. Nick 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. 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. The companys pipeline shrank and more than 50 jobs were lost after the firm completed a reconsideration of its direction in the aftermath. Where Will DOEs Loan Program Make the Next Climate Tech Investments? The company began with just six team members and rapidly grew to become one of Europes leading solar developers and operators in just five years. (Credit: BP). After what he calleda period of strategic introspection, which included scrutinizing35 companies,BPmade itsinitial $200 million investment in Lightsource in 2017, creating Lightsource BP. Founder Nick Boyle explains how Lightsource will help power one of the biggest corporate transformations ever attempted. Nick Boyle's income source is mostly from being a successful Player. 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. Procurement agreement with US-based manufacturer. Learn how and when to remove this template message, National Investment and Infrastructure Fund, "Solar farm to provide third of Belfast International Airport's power", "BP returns to solar with investment in Lightsource", "Shiny panels and a sure thing, Nick's story", "Bentley, Lightsource in Rooftop Solar Power Project", "Europe's largest floating solar farm powers up", "BP Re-Enters Solar Power Market With $200 Million U.K. Deal", "Lightsource BP to accelerate global solar growth with further investment from BP", "Lightsource bp secures $540m funding for solar developments", https://en.wikipedia.org/w/index.php?title=Lightsource_BP&oldid=1129683911, Renewable resource companies established in 2010, Articles needing additional references from November 2020, All articles needing additional references, Articles with unsourced statements from December 2017, Articles with unsourced statements from September 2020, Creative Commons Attribution-ShareAlike License 3.0, Development and operation of solar power farms, This page was last edited on 26 December 2022, at 17:05. We know that the sun will come up and the sun will go down so were essentially creating an annuity of very predictable generation multiplied by a fixed price that has already been agreed with some of the largest companies in the world.. That growth shows new solar parks are still coming online despite the impact of the pandemic, while a global push for clean energy is opening opportunities in more countries, according to Chief Executive Officer and founder Nick Boyle. BP and Lightsource announced the partnership in December. Among those strategic firms were BP and another oil and gas giant, with BP eventually coming out victorious. His main and rather the only source of income is a professional career as an American football tight end which brings him great profits. To date, Lightsource bp has deployed several GW of utility-scale solar projects globally and is executing a significant international project development pipeline as part of its industry-leading ambition to develop 25GW of solar by 2025. 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. Nick Boyle founded Lightsource Renewable Energy in 2010 with five employees and a solar farm in Truro, Cornwall. [6] The company was accordingly renamed Lightsource BP. One of things that weve done really well in the first years in partnership with BP is that weve set aggressive targets and weve delivered on every one them They were able to believe us when we said: Guys, 10GW isnt really pushing the envelope. That was the start of the conversation about how we redefine what good looks like, Boyle says. Boyle said the companyreceived 14 bids,seven of themfrom oil and gas companies. They just have this very can-do, empowering mentality that suits us perfectly, Boyle says. Nick is Global CEO and founder, starting up Lightsource Renewable Energy in 2010. 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. Carbon Recycling: Microbes, Jet Fuel and Leggings. Within seven years Boyle had grown the company to a team of 300, with solar farms in Ireland, Netherlands, India and the US catching the eye of major players hoping to buy into the solar boom. 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. Suddenly, government-backed energy offtakers and bankable counterparties alike are keener to do business. Couldn't agree more Nick, also amazing that BP is the first super-major energy company to make such a commitment. 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. Free intelligence and insights from industry experts and leading companies on the global energy transformation. Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, iPhone Maker Plans $700 Million India Plant in Shift From China, Stock Traders Are Ignoring Blaring Bond Alarms, Russia Is Getting Around Sanctions to Secure Supply of Key Chips for War. All rights reserved. She is from Germany. So, how much is Mary Louise Kelly worth at the age of 51 years old? Throughout his career, Nick has always been recognised for his entrepreneurial skill and success in pairing retail financial products with low-risk, predictable investments. His net worth has been growing significantly in 2021-2022. This investment - Seed Round - Better Origin - was valued at $3M. With an Energy Crisis Brewing, No Peak in Sight for Emissions, Why TransitTech Is So Vital to Struggling Public Transportation Systems. [button target=blank link=https://careers.lightsourcebp.com]Search careers at Lightsource bp[/button]. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX, Chief Executive Officer, Lightsource Renewable Energy. Its an advantage that other solar developers are simply not privy to, but one Boyle is not shy about taking up. 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. 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. Policy & regulation are aligning with renewables cost declines to make projects more profitable and portfolios more sustainable. 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. Dev Sanyal, BP's head of gas and low-carbon initiatives, and Lightsource BP CEO Nick Boyle discuss the past, present and future of their joint venture. #renewableenergy #solarenergy #wearelightsourcebp #BeTheChange #solar #Lightsourcebp #netzero #cleanenergy Since then BP has brought in a new CEO, Bernard Looney, and discovered a renewed appetite for renewable energy. BP'sSeptembercapital markets eventalso revealed more details on the extent of the company'srenewable options. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Thats the cycle in this industry.. And big companies like Amazon, McDonald's and eBay are switching to clean energy. [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]. Three years ago nobody was talking about green hydrogen in any great degree of analysis,Sanyal said. Dating & Relationship status He is currently single. See the full leadership team at Craft. Nick Boyle invested in Better Origin on Feb 23, 2021. I remember speaking at one of your [Current publisher Solar Media] conferences in 2011 and I stood up and announced that Lightsource was going to do 300MW, and there wasnt anyone in the room that wasnt on the floor laughing. You can find out more about which cookies we are using or switch them off in settings. Paul co-founded the company in 2010. And the relationship between BP and Lightsource has however gone further, and is now more symbiotic than anything else. Europe, Menlo Park, China), This describes the type of investor the person is (e.g. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. Now Boyle is poised to set out how Lightsource will help power one of the biggest corporate transformations ever attempted. Nick previously sat at Board and Senior Director level in a number of leading retail financial service companies. 2023 Lightsource. The company has rebranded to Lightsource BP in affirmation of this powerhouse commitment which is set to shape the future of global energy delivery. Boyle puts these achievements not just to thinking outside of the box, but by industrialising and introducing real business systems, controls and processes to what was essentially a cottage industry when he founded the business in 2010. 2023 Lightsource. We've moved from a cottage industry into an industrialized generator of what is globally, today, the cheapest form of electricity generation, said Boyle. As I look at the second half of the decade, we will still see massive growth in solar. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Climate Change Is Launching a MutantSeed Space Race, UK Braces for Rare Weather Event That Risks Late-Winter Freeze, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? To date, Lightsource bp has deployed several GW of utility-scale solar projects globally and is executing a significant international project development pipeline as part of its industry-leading ambition to develop 25GW of solar by 2025. As well as Lightsources facilities, BP also plans to finance its own solar farms which the solar venture will develop and run as a gun for hire. In 2018, the company completed its first international installation, a 60MW solar farm in Maharashtra, India. Rebranded as Lightsource BP, the company has committed to aggressively accelerate the low carbon transition, and this powerhouse partnership is set to shape . We have estimated Nick Boyle's net worth , money, salary, income, and assets. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. In February of this year, BP announced its intention to reachnet-zero carbon emissions by 2050 and revealedfurther details during a Septembercapital markets event. 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. They were doing a survey of developers, and what types of systems and processes they have in-house, and they were very surprised by the way we run things, Boutonnat adds. Lightsource BP won the offtake contract through a 450 MW tender process. He is not dating anyone. 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. Angel, Fund of Funds, Venture Capital), Number of Investments the Individual has participated in, Total number of current Jobs the person has, Number of news articles that reference the Person, Riverbed names Nick Boyle VP of APJ sales, Better Origin, which turns flies into food for chickens, raises $3M from Fly Ventures. The company began with just six team members and rapidly grew to become one of Europe's leading solar developers and operators in just five years. There are lots of tangible outcomes of hard work. Belfast, Northern Ireland, United Kingdom 4K followers 500+ connections Join to view profile Lightsource BP About Nick is the Group CEO of Lightsource bp, overseeing all global operations and. The launch fund for EverSource Capital was the Green Growth Equity Fund, which has a fundraising target of 500million and joint anchor investments from the UK Government and the India's National Investment and Infrastructure Fund, with a commitment of 120million each. At the company'sSeptembercapital markets event, Sanyal presented a slide demonstrating how BP planned to get 8 to10 percent returns from low-carbon electricity of all forms. 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. announced a strategic partnership with BP which has committed aggressively to accelerate the low carbon transition. Boyle says the company is ready to meet these challenges head on. Deployment ramped up quickly, and between 2014 and 2016, the U.K. was the largest end market in Europe, overtakingGermany. He started his career in 2015. 21 September, 2021 01:00 BP's joint solar venture Lightsource BP, founded by Co Antrim man Nick Boyle, plans to more than double its global expansion by 2025 after clinching a financing deal. Nicks dynamic leadership and vision continues to drive the companys remarkable growth and international reach, growing from 5 to 20 markets since the bp partnership was inked, and now surpassing 1000 team members around the world. 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. 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. For a company that has extensive experience in developing, managing and operating huge amounts of renewable power generation, coupled with an R&D arm developing new domestic energy management systems and, now, the backing of a major utility, its perhaps an easy assumption to make that Lightsource BP might have vertical integration on its mind.