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. Together with our 50:50 joint venture partner bp, we are reimagining energy and enacting real change on the energy landscape, not just in the USA, but all over the world. 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. 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. This website uses cookies so that we can provide you with the best user experience possible. 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. Lightsource bp pays for the first $800 of the monthly insurance premium. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. The parent company financial statements of BP p.l.c. 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. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. If you experience any issues with this process, please contact us for further assistance. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. 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. bps finances are strong and resilient. 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. 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. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. You can find out more about which cookies we are using or switch them off in settings. 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. That's enough to power approximately 86,000 homes in New South Wales. Read more about supporting local communities, Procurement agreement with US-based manufacturer. 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. We use some essential cookies to make our services work. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. Post Online Media. BP p.l.c. 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. 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. All rights reserved. Find out more about how Lightsource bp works and operates and our partnership with bp. 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. All rights reserved. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 602-414-9315, Lightsource bp and bp Sign Multi-Year Agreement for up to 5.4GW of First Solar Modules, Western Hemispheres largest solar manufacturing footprint. Ordinary shares are ordinary fully paid shares in BP p.l.c. 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. We have always been driven, and our partnership with BP is a great enabler. The 260-megawatt Impact . Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. We recognise that the rising need for energy must be met through sustainable sources. The modules, scheduled. But many BP investors have cast doubts over BPs vow that the renewables business could generate returns of 8% to 10%, higher than the sectors average of 5% to 6% in order to maintain and even grow shareholder payouts. 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. With smaller pockets, comes a different approach. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. 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. farmers and ranchers face increasing economic stress. Legal notice in relation to the material on this page. 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.. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. 2023 Lightsource. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. 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. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . LSbp's first site produced just 0.7 megawatts (MW) of solar power. "Reliability is super-important, too this is a young industry, so its like a gold rush, with new players coming into the market who want to flip things quickly. We use cookies to collect and analyse information on our site's performance and to enable the site to function. You can sign up for additional alert options at any time. 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. Partnerships are a key part of our approach, enabling better and faster utilization of our network. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. 8.3 MB. 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. You can find out more about which cookies we are using or switch them off in settings. 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. 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. You must click the activation link in order to complete your subscription. Lightsource bp is a global leader in utility-scale solar development and management. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. 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. The great majority of this investment will fund Lightsource's. You've accepted analytics cookies. As part of the deal, Lightsource bp and bp have placed firm orders for approximately 4.4GWDC of modules, with options for an additional 1GWDC. And, if youre confident, you can put your head down and deliver. 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. (Loading)*. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. You've rejected analytics cookies. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. We power businesses and communities across the US with clean and affordable energy solutions. 2.2 MB. It is just the start for us in Latin America, Souflis adds. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. To obtain a hard printed copy of bps 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. Lightsource bp has agreed to procure up to 4.3GWDC of modules for its US utility-scale projects, and bp will procure up to 1.1GWDC to power their projects being developed by Lightsource bp. It makes good business sense, too. Doubling adjusted EBITDA, sustaining returns, focused on customers. 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. All rights reserved. For more information, please visit www.firstsolar.com. 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. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. Every region receives a tailored approach and is managed by a local team. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. Lightsource bp Renewable Energy Investments Limited. 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? BATON ROUGE, La.-- ( BUSINESS WIRE )--Lightsource bp has successfully closed on a $533 million multi-project financing package and mobilized construction on its 345 megawatt (dc) Ventress Solar. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. Our success is built on more than just our solar projects. Forward-looking statements are only predictions based on our current expectations and our projections about future events and therefore speak only as of the date of this release. 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 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. 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. This website uses cookies so that we can provide you with the best user experience possible. Our team includes over 500 industry specialists, working across 15 countries. 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. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . London-based Lightsource BP, which is half-owned by oil major BP and will mark its 10th anniversary later this year, has rapidly grown around the world in recent years and aims to reach 10 gigawatt (GW) of solar capacity by 2023 from a current 2 GW . Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. 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. Lightsource BP, rebranded from Lightsource Renewable Energy in 2018, is the largest solar developer in Europe, and third largest in the world outside of China. After submitting your request, you will receive an activation email to the requested email address. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. investor@firstsolar.com 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. 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. 2023 Lightsource. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. 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. BPs shares linger near 25-year lows after it halved its dividend in August. For more information on bp in the US, visit www.bp.com/us. 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. 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. 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. 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. 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. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). Weve just released our second annual Gender Pay Gap Report, which covers our gender differences in terms of population, pay and bonus levels from March 2017 to March 2018. We use cookies to collect and analyse information on our site's performance and to enable the site to function. The bp Annual Report and Form 20-F 2021 available for download on this webpage constitutes the Annual Report and Accounts in accordance with UK requirements and the Annual Report on Form 20-F in accordance with the US Securities Exchange Act of 1934, for BP p.l.c. 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. 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. 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. 2023 Lightsource. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. 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. We continue to grow teams, partnerships and projects throughout the world. 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.. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. The US solar industry is at an important inflection point where it must continue the charge towards delivering 45% of our countrys electricity by 2050 while addressing the risks and uncertainty posed by increasingly volatile solar panel production, pricing, and supply, said Georges Antoun, chief commercial officer, First Solar. You can find out more about which cookies we are using or switch them off in settings. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . There is going to be a huge amount of capital flow into new business models, he predicts. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Lightsource bp is a global leader in utility-scale solar development and management. *Market data delayed by 20 minutes. 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. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. Assist in contract negotiation and. in 2001. 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. 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. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. of 25 cents each. This website uses cookies so that we can provide you with the best user experience possible. We power businesses and communities across the US with clean and affordable energy solutions. 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. 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. See here for a complete list of exchanges and delays. Lightsource bp Renewable Energy Investments Limited. ()*, GBp For First Solar Investors We represent the opposite of that.. 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 . About First Solar, Inc. 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. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. 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. 382.4 KB, pdf / In addition to the multi-year module sales agreement, First Solar also signed a memorandum of understanding (MoU) to explore opportunities to source electricity from generation assets developed, owned and operated by Lightsource bp in Ohio, where First Solar operates the Western Hemispheres largest solar manufacturing footprint. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. Building scale with capital discipline and returns focus. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. 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. Our sector is fundamentally about financing. 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. In a statement Thursday, Lightsource bp which oil. 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. The BP partnership has definitely given our whole team confidence, Brooks says. Read story 28 Feb, 2023 Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 260MW of affordable, clean and locally generated electricity for Texas communities. 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. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021.