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 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. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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.. 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. Lightsource bp Renewable Energy Investments Limited. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. You can find out more about which cookies we are using or switch them off in settings. 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. You can find out more about which cookies we are using or switch them off in settings. 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. We use cookies to collect and analyse information on our site's performance and to enable the site to function. 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. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. 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. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. 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. 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. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. 8.3 MB. And this week, Lightsource BP announces its presence in Brazil, meaning the business is now active in 10 countries up from just five only a year ago. The Material does not (i) form part of the bp Annual Report and, pdf / 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.. High-grading our portfolio, lowering our emissions and driving returns. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. Our sector is fundamentally about financing. 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. 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. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. With smaller pockets, comes a different approach. 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. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. Helge Lund, chair Chair's letter pdf / 264.7 KB 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. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. 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. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. 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. 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. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. 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 develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. We know many ways in which to finance projects and understand the market for financing very differently.. Assist in contract negotiation and. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Home, Britoil, Lightsource BP, Llandarcy. Find out more about how Lightsource bp works and operates and our partnership with bp. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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 / Our gigawatt-approach to solar provides many benefits to our partners worldwide by leveraging economies of scale, ethical and sustainable procurement, and continuous improvement on quality and efficiency. 2.2 MB. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. You've rejected analytics cookies. pdf / Every region receives a tailored approach and is managed by a local team. We power businesses and communities across the US with clean and affordable energy 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. 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. Post Online Media. (), USD 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. All rights reserved. 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. 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. Choose a career where you are empowered to change the world! 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. 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. At Lightsource bp, weve been developing utility-scale solar projects since 2010. 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. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. Were looking at assets in some parts of Europe that definitely offer double digit returns and we are also looking at assets in other parts of the world that are lower than that, he told Reuters in an interview this month. of 25 cents each. 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. Lightsource bp is an international solar business. 2023 Lightsource. (Loading), USD Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. First Solar is a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. 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. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. Sustainability is integrated into our business strategy and operating model at every level. ()*, GBp 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. Designed and developed at its research and development (R&D) centers in California and Ohio, First Solars responsibly produced advanced thin film PV modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. Our team includes over 500 industry specialists, working across 15 countries. You must click the activation link in order to complete your subscription. 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. 2023 Lightsource. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. 2023 Lightsource. Sustainability is at our core. Legal notice in relation to the material on this page. 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, 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. After submitting your request, you will receive an activation email to the requested email address. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. You can find out more about which cookies we are using or switch them off in settings. BP p.l.c. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. 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. BP are able to deliver more than just solar. I joined when it was just six people huddled around two laptops, and from that first moment the ethos was clear, Lightsource bp, a global leader in the development and management of solar energy projects, today announced the sale of five utility scale solar photovoltaic (PV). bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. 2023 Lightsource. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. 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. 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. 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. The company and each of its subsidiaries are separate legal entities. 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. Actual results may differ materially from those expressed in such statements depending on a variety of factors. 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. Our Standards: The Thomson Reuters Trust Principles. November 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. BPs shares linger near 25-year lows after it halved its dividend in August. 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 Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. 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. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. We represent the opposite of that.. Our growth has been in maturing the organization and getting into a strong operating position for next year. As Americas familyfarmers and ranchers face increasing economic stress, opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. farmers and ranchers face increasing economic stress. 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. We are using cookies to give you the best experience on our website. Find out more about us and how were working together to create a sustainable energy future for us all. 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. Brazil is a massive market with huge potential. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . 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. All rights reserved. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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 . Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. The BP partnership has definitely given our whole team confidence, Brooks says. Our success is built on more than just our solar projects. All rights reserved. From raw material sourcing and manufacturing through end-of-life module recycling, First Solars approach to technology embodies sustainability and a responsibility towards people and the planet. 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. Back Submit . Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Our team includes over 500 industry specialists, working across 15 countries. We continue to grow teams, partnerships and projects throughout the world. Doubling adjusted EBITDA, sustaining returns, focused on customers. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. Lightsource and bp celebrate five-year anniversary. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. (), USD It is not even the beginning of the end. *Market data delayed by 20 minutes. 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. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. Partnerships are a key part of our approach, enabling better and faster utilization of our network. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. Discover how we are creating a positive impact across energy, the environment and our people. Read more about supporting local communities, Procurement agreement with US-based manufacturer. A year ago, Lightsource was the established solar leader in Europe. Lightsource bp Renewable Energy Investments Limited. After all, 2017 was also the year in which renewable power grew by almost 20% higher than the 10-year average led by solar energy. 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. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. (Loading)*. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. 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 offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. In 1910, the steel mill, then known as The Colorado Fuel and Iron Company, employed approximately 15,000 people, or about one-tenth of the entire Colorado workforce, according to the Colorado Encyclopedia and later was the . The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. (Loading)*. We are using cookies to give you the best experience on our website. All rights reserved. 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. 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.