We power businesses and communities across the US with clean and affordable energy solutions. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . 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. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. 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 is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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. 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. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. Lightsource and BP Join Forces to Drive Growth in Solar Power The full details of our Gender Pay Gap Report 2018can be found here. Back Submit . 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. 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,. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. 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. Since late 2017, the team has developed a pipeline of more than 10 gigawatts of large-scale solar projects at various stages of development across the United States with over 2.8 gigawatts of contracted assets with clients in 11 states representing more than $2.3 billion in expected investment. Lightsource bp launches Bighorn Solar project in Colorado - powering BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 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. *Market data delayed by 20 minutes. The companys primary share listing is the London Stock Exchange. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. Solar projects already meet BP's profit goals, Lightsource BP says 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. Find out more about our sustainability strategy and initatives. pdf / 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. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. Lightsource bp is a global leader with local impact. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 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. 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. of 1 each. Doubling adjusted EBITDA, sustaining returns, focused on customers. Lightsource bp Renewable Energy Semiconductor Manufacturing . Brazil is a massive market with huge potential. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Every region receives a tailored approach and is managed by a local team. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. Lightsource bp gets financing for massive Pointe - Business Report You've rejected analytics cookies. 2.2 MB. Our team includes over 500 industry specialists, working across 15 countries. 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. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 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. 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. 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. 8.3 MB. 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? farmers and ranchers face increasing economic stress. We work with businesses and communities around the world to deliver low-carbon solar energy projects. About bp 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. It, however, recorded an operating loss of 24.5 million pounds in 2019 compared with a 15 million pound loss a year earlier, as a result of higher investments in new projects. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. BPs shares linger near 25-year lows after it halved its dividend in August. Lightsource bp Renewable Energy Investments Limited. 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. Annual Gender Pay Gap Report Published in the UK | Lightsource bp We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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. 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. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. Find out more about how Lightsource bp works and operates and our partnership with bp. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. There is going to be a huge amount of capital flow into new business models, he predicts. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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. LSbp's first site produced just 0.7 megawatts (MW) of solar power. It is just the start for us in Latin America, Souflis adds. Solar-powered steel production from Lightsource bp's Bighorn Project in We know many ways in which to finance projects and understand the market for financing very differently.. Sustainability is integrated into our business strategy and operating model at every level. Lightsource bp Financials | Craft.co 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. 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. 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. As the first person on the ground when entering a new territory, he has found that, over the past year, the BP name has opened a lot of doors. 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. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. 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. 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. 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. are on pages 282-336. Lightsource bp and bp Sign Multi-Year Agreement for up to 5 - Yahoo! in 2001. 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 / Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Discover how we are creating a positive impact across energy, the environment and our people. Delivered by Investis. 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. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. 'The potential for solar is huge': future looks bright for Lightsource BP Lightsource Bp Renewable Energy Investments Limited For more information please visit www.lightsourcebp.com. November:expansion into Italy, Iberia and Brazil is announced. 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. 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. News & insights | Lightsource bp The great majority of this investment will fund Lightsource's. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Post Online Media. 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 . 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). 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. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. (Loading), USD Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. 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. We continue to grow teams, partnerships and projects throughout the world. You can find out more about which cookies we are using or switch them off in settings. We are using cookies to give you the best experience on our website. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. The deal on the Lightsource deal | News and insights | Home - bp global In a statement Thursday, Lightsource bp which oil. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Our approach has always been to attract, select and retain the right person for each position, regardless of gender, sexuality, personal beliefs, identity and ethnicity. And the next big steps are bigger projects and more volume. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. You can find out more about which cookies we are using or switch them off in settings. 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. 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. BP International Limited. The Material does not (i) form part of the bp Annual Report and, pdf / Here are some examples of how we performed in 2021. Where we refer to the company, we mean BP p.l.c. In order to advance our purpose and ambition, we have identified three strategic focus areas, and weve set targets and aims against these out to 2025 and 2030. Owler Reports - Lightsource bp: Lightsource bp selling 1-GWp solar We power businesses and communities across the US with clean and affordable energy solutions. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense.
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