lightsource bp annual report

Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. You can find out more about which cookies we are using or switch them off in settings. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. 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 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 undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. Delivered by Investis. It is an existing key geography for BP, too, and we already are seeing huge opportunity, says Vlasios Souflis, Lightsource BPs international business development director, who is heading up this latest market entry into Latin America. Discover how we are creating a positive impact across energy, the environment and our people. 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. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. All rights reserved. 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. It is just the start for us in Latin America, Souflis adds. We recognise that the rising need for energy must be met through sustainable sources. We are using cookies to give you the best experience on our website. You've accepted analytics cookies. 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. 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. All rights reserved. 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. After submitting your request, you will receive an activation email to the requested email address. Our purpose is to deliver affordable and sustainable solar. Every region receives a tailored approach and is managed by a local team. 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. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. 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. LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED, for LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED (09494479), (of the document filed at Companies House), Companies House does not verify the accuracy of the information filed. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. Lightsource and bp celebrate five-year anniversary. 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? About First Solar, Inc. Lightsource bp is a global solar leader and 50:50 JV partner with bp, working with utilities, businesses, local communities and governments to help meet the rising demand for affordable, reliable and sustainable energy. Lightsource bp is a global leader in utility-scale solar development and management. We continue to grow teams, partnerships and projects throughout the world. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. The company and each of its subsidiaries are separate legal entities. 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. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. Construction on this project commenced in December 2019. We are using cookies to give you the best experience on our website. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 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. 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. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. 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. Read story Prev 1 2 BP will invest $200 million in Lightsource over three years for a 43% stake in the business. And this week, Lightsource BP announces its presence in Brazil, meaning the business is now active in 10 countries up from just five only a year ago. 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. 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. It is not even the beginning of the end. 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. 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. The companys primary share listing is the London Stock Exchange. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. You can find out more about which cookies we are using or switch them off in settings. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. In just 11 months, the company has been awarded significant corporate power contracts in the US and Australia, entered the Egyptian energy market through a joint venture, and established a 500 million green energy infrastructure fund in India. You can sign up for additional alert options at any time. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. 2023 Lightsource. 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. of 1 each. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. 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). 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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Choose a career where you are empowered to change the world! And the next big steps are bigger projects and more volume. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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. We power businesses and communities across the US with clean and affordable energy solutions. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. are on pages 282-336. 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. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. 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. Our Standards: The Thomson Reuters Trust Principles. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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. 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. It makes good business sense, too. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. If you are passionate about accelerating the energy transition, and looking to join a global collaboration of team members focused on delivering sustainable power, visit our careers page to find out more about working at Lightsource bp. 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. 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. 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. You can change your cookie settings at any time. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. 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. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana 2023 Lightsource. 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. Partnerships are a key part of our approach, enabling better and faster utilization of our network. You can find out more about which cookies we are using or switch them off in settings. 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. Doubling adjusted EBITDA, sustaining returns, focused on customers. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. 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 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. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. This landmark solar industry procurement deal is a testimony to Lightsource bps exponential growth in the United States, and our confidence in First Solars technology, said Kevin Smith, chief executive officer, Americas, Lightsource bp. Lightsource bp is a global leader in utility-scale solar development and management. 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. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Were proud to announce that over the past three months weve secured planning permission for a total of over 100MW of solar and storage projects in the UK. 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. 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. We are using cookies to give you the best experience on our website. The modules, scheduled. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. 264.7 KB. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. 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. 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. pdf / The Directors remuneration report is on pages 116-141. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. Report this post Report Report. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. It sees further profit opportunities from BPs large power trading business, which can offer customers power from various sources such as solar, wind or natural gas. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. A year ago, Lightsource was the established solar leader in Europe. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. November:expansion into Italy, Iberia and Brazil is announced. Building scale with capital discipline and returns focus. November:contracts are signed for 25MW of solar power in Western US. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . 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 . 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. The BP partnership has definitely given our whole team confidence, Brooks says. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 About bp 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. Find out more about how Lightsource bp works and operates and our partnership with bp. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. *Market data delayed by 20 minutes. November investor@firstsolar.com If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. But, while it is proud of projects that are bringing renewable energy to millions of homes in India, for example, the focus this year has been on laying the foundations for further growth, rather than simply building capacity. We power businesses and communities across the US with clean and affordable energy solutions. Where we refer to the company, we mean BP p.l.c. is the parent company of the bp group of companies. 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. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. 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. You can change your cookie settings at any time. Our most recent Annual Report and Form 20-F is available on our website at www.bp.com, or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov SOURCE BP PLC . Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. You can find out more about which cookies we are using or switch them off in settings. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. 2.2 MB. 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. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities.

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