lightsource bp annual report

There is going to be a huge amount of capital flow into new business models, he predicts. It is just the start for us in Latin America, Souflis adds. 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. February 27, 2023. 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. High-grading our portfolio, lowering our emissions and driving returns. We are using cookies to give you the best experience on our website. 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. We power businesses and communities across the US with clean and affordable energy solutions. 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. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. 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 Renewable Energy Semiconductor Manufacturing . Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. 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. Find out more about how Lightsource bp works and operates and our partnership with bp. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. Delivered by Investis. 260MW of affordable, clean and locally generated electricity for Texas communities. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. of 1 each. 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), USD 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 Delivered by Investis. Procurement agreement with US-based manufacturer. BPs shares linger near 25-year lows after it halved its dividend in August. ()*, GBp We are using cookies to give you the best experience on our website. It makes good business sense, too. 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. 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. 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. pdf / Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. Weve made a number of new hires across the Group, and the number of women in higher paying roles has increased, which is something were very proud of. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. BP International Limited. 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. November:expansion into Italy, Iberia and Brazil is announced. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Lightsource bp today announced it has closed on a $533 million multiproject financing package for its 345-megawatt Ventress Solar project 30 miles northwest of Baton Rouge in Pointe Coupee Parish. These forward-looking statements include, but are not limited to, statements concerning (i) the framework agreement to supply up to 5.4 gigawatts (GW)DC of solar modules to bp and Lightsource bp, (ii) an MoU with bp and Lightsource bp to explore opportunities to source solar electricity from generation assets owned by the two companies in the United States, (iii) First Solars plans to establish new factories in the United States and India and the expected capacities of those factories, and (iv) when those factories will commence operations and the companys resulting global manufacturing footprint. 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. With smaller pockets, comes a different approach. 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. The 260-megawatt Impact . In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. 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 . *Market data delayed by 20 minutes. 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. You've accepted analytics cookies. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 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 . The company and each of its subsidiaries are separate legal entities. 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. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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. Our team includes over 500 industry specialists, working across 15 countries. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. Our Standards: The Thomson Reuters Trust Principles. The Directors remuneration report is on pages 116-141. Lightsource and bp celebrate five-year anniversary. 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. 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. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Find out more about our sustainability strategy and initatives. These modules are a critical step in delivering our 9GW solar pipeline that will provide affordable energy, create jobs, bolster the supply chain and deliver the type of returns our investors expect. 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. Our sector is fundamentally about financing. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. 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. BP and Lightsource announced the partnership in December. 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.. 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 find out more about which cookies we are using or switch them off in settings. 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. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 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. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. bps finances are strong and resilient. 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. 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. Our purpose is to deliver affordable and sustainable solar. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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. 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. We know many ways in which to finance projects and understand the market for financing very differently.. We represent the opposite of that.. 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. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). 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. Discover how we are creating a positive impact across energy, the environment and our people. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. 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. 2018, The BP partnership has definitely given our whole team confidence. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Lightsource and bp celebrate five-year anniversary. And, if youre confident, you can put your head down and deliver. We use cookies to collect and analyse information on our site's performance and to enable the site to function. For more information, please visit www.firstsolar.com. In a statement Thursday, Lightsource bp which oil. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. 2023 Lightsource. Lightsource bp is an international solar business. All quotes delayed a minimum of 15 minutes. (), USD Will stimulate local economy by bringing an estimated $30 million in new revenue to the . 382.4 KB, pdf / Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 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? We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. The BP partnership has definitely given our whole team confidence, Brooks says. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. You must click the activation link in order to complete your subscription. That's enough to power approximately 86,000 homes in New South Wales. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. 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. 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. For more information on bp in the US, visit www.bp.com/us. 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. 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. 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 . But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. 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. New Mexico GBp You've rejected analytics cookies. We are using cookies to give you the best experience on our website. We believe that sustainability and social responsibility are crucial for long-term business success and this is embedded within our business model, holding us accountable to those principles. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. 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. Sustainability is at our core. Lightsource bp is a global leader in utility-scale solar development and management. 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. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. Building scale with capital discipline and returns focus. 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. Looking ahead to 2019, Souflis and Brooks are set to continue assessing opportunities together in multiple countries where Lightsource BP has no presence, at the moment, but where solar makes sense and where the BP name provides a strategic advantage. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. About bp 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. You can find out more about which cookies we are using or switch them off in settings. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. You should not place undue reliance on these forward-looking statements. 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. We power businesses and communities across the US with clean and affordable energy solutions. investor@firstsolar.com You can sign up for additional alert options at any time. We have always been driven, and our partnership with BP is a great enabler. 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. 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. About Lightsource bp The companys primary share listing is the London Stock Exchange. 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. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 Where we refer to the company, we mean BP p.l.c. You can change your cookie settings at any time. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. The Material does not (i) form part of the bp Annual Report and, pdf / In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. 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. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. This website uses cookies so that we can provide you with the best user experience possible. Back Submit . Brazil is a massive market with huge potential. This website uses cookies so that we can provide you with the best user experience possible. All rights reserved. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. farmers and ranchers face increasing economic stress. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. Read story Prev 1 2 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. 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. Our success is built on more than just our solar projects. 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. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We work with businesses and communities around the world to deliver low-carbon solar energy projects. 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. 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. 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. 8.3 MB. Our growth has been in maturing the organization and getting into a strong operating position for next year. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. "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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. As a business we care deeply about the impact of our projects, our culture and values, and our team members. 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. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. 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. 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 Renewable Energy Investments Limited. Oversee onboarding of new facilities. 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. 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). , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. 2023 Lightsource. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman.