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BPs shares linger near 25-year lows after it halved its dividend in August. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. New Mexico (), USD 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. We use some essential cookies to make our services work. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. 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. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. You've accepted analytics cookies. (Loading)*. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . 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. 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. 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. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. We continue to grow teams, partnerships and projects throughout the world. You can sign up for additional alert options at any time. 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. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. 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 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. 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. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. For more information on bp in the US, visit www.bp.com/us. About First Solar, Inc. 8.3 MB. Building scale with capital discipline and returns focus. 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. Modern Slavery And Human Trafficking Statement. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). 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. 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. 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. 2023 Lightsource. 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. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. The goal was to take the UK-based business global and, one year on, the Lightsource BP partnership has more than doubled its footprint around the world and has just announced a move into renewables-friendly Brazil, where the market potential for solar is huge. (), USD 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. 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. 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. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. Developed at R&D labs in California and Ohio, the companys advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. 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? 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. Discover how we are creating a positive impact across energy, the environment and our people. 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. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. You can find out more about which cookies we are using or switch them off in settings. Report this post Report Report. 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. The Strategic report and the Directors report together include the management report required by DTR 4.1 of the UK Financial Conduct Authoritys Disclosure Guidance and Transparency Rules. 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. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. 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. LSbp's first site produced just 0.7 megawatts (MW) of solar power. You must click the activation link in order to complete your subscription. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. Where we refer to the company, we mean BP p.l.c. of 1 each. First Solar, Inc. (NASDAQ: FSLR) today announced that global solar leader, Lightsource bp has placed an order for 4 gigawatts (GW)DC of advanced thin film solar modules. 264.7 KB. 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. Back Submit . Lightsource BP is a British company with headquarters in London, and offices in Madrid, Milan, Athens, San Francisco, Philadelphia, Mumbai, New Delhi, Cairo, Melbourne, Amsterdam, Bath, Belfast and Dublin. November:expansion into Italy, Iberia and Brazil is announced. 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. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. Our purpose is to deliver affordable and sustainable solar. Lightsource bp, a 50:50 joint venture with bp, unveiled the solar project that will help reduce emissions and support more than 1,000 jobs at EVRAZ's Pueblo steel mill - the world's first steel mill to be powered largely by solar energy. bps finances are strong and resilient. 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 former Goldman Sachs principal and investor went from finance to an operating business because: I have an enormous personal conviction about the energy transition and the ability to have a real impact.. We have always been driven, and our partnership with BP is a great enabler. This website uses cookies so that we can provide you with the best user experience possible. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. of 25 cents each. 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. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. Our sector is fundamentally about financing. See here for a complete list of exchanges and delays. Despite this years impressive results, were not complacent well continue working hard to make sure that equality and fairness is at the heart of our company policies and practices. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. It makes good business sense, too. There is going to be a huge amount of capital flow into new business models, he predicts. 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). Lightsource bp and bp will benefit from the evolution of First Solars advanced Cadmium Telluride (CadTel) thin film module technology platform over the span of the agreement. After submitting your request, you will receive an activation email to the requested email address. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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. *Market data delayed by 20 minutes. 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. 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. At Lightsource bp, weve been developing utility-scale solar projects since 2010. 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. Helge Lund, chair Chair's letter pdf / 264.7 KB This website uses cookies so that we can provide you with the best user experience possible. Our Standards: The Thomson Reuters Trust Principles. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. 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. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. Every region receives a tailored approach and is managed by a local team. Earlier this year, First Solar announced that it will invest $680 million to expand Americas domestic PV solar manufacturing capacity by 3.3GW annually, by building its third US manufacturing facility, in Lake Township, Ohio. 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,. Doubling adjusted EBITDA, sustaining returns, focused on customers. You can find out more about which cookies we are using or switch them off in settings. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. Brazil is a massive market with huge potential. Post Online Media. It is not even the beginning of the end. 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 . Choose a career where you are empowered to change the world! 2018, The BP partnership has definitely given our whole team confidence. The project will be the largest solar project in the state and will help McDonald's and eBay meet their sustainability goals and advance their commitment to climate action. About Lightsource bp We recognise that the rising need for energy must be met through sustainable sources. 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. Lightsource bp is a global leader in utility-scale solar development and management. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 For First Solar Investors (Loading), USD November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. Actual results may differ materially from those expressed in such statements depending on a variety of factors. The brand gives us a credibility that it would take 30 years to develop on our own. Lightsource bp Renewable Energy Investments Limited. Choose a career where you are empowered to change the world! (Loading), USD For more information, please visit www.firstsolar.com. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. All rights reserved. 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. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. The full details of our Gender Pay Gap Report 2018can be found here. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. BP p.l.c. Were delighted that bp and Lightsource bp have placed their trust in us and our technology to help power their growth in the United States.. 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. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. 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 a year earlier, according to the companys annual report filed this week. In a statement Thursday, Lightsource bp which oil. Assist in contract negotiation and. Our growth has been in maturing the organization and getting into a strong operating position for next year. 260MW of affordable, clean and locally generated electricity for Texas communities. 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. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. 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. 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. The parent company financial statements of BP p.l.c. pdf / 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. 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. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. These factors include, but are not limited to, the matters discussed under the captions Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission. We are using cookies to give you the best experience on our website. Lightsource bp is an international solar business. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. ()*, GBp Lightsource bp Renewable Energy Investments Limited. The great majority of this investment will fund Lightsource's. 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. That's enough to power approximately 86,000 homes in New South Wales. The BP partnership has definitely given our whole team confidence, Brooks says. Lightsource and bp celebrate five-year anniversary. 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. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity 2023 Lightsource. A year ago, Lightsource was the established solar leader in Europe. 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. The Directors remuneration report is on pages 116-141. BP International Limited. Oil and gas will remain BPs largest source of income over the coming decade which will help pay for the shift to low-carbon energy. The previous year, we reported a gap of 1.2% in favour of men (compared to the UK mean, which was 17.4% according to ONS), and this year our mean gender pay gap is 6%, in favour of women. All rights reserved. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. November Sustainability is integrated into our business strategy and operating model at every level. You can find out more about which cookies we are using or switch them off in settings. 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. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. The development of our projects are underpinned by our core values, ethically focussed and climate conscious.

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