Solar projects already meet BP's profit goals, Lightsource BP says 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. Annual Gender Pay Gap Report Published in the UK | Lightsource bp As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. 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. 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,. 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. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. Partnerships are a key part of our approach, enabling better and faster utilization of our network. Helge Lund, chair Chair's letter pdf / 264.7 KB Lightsource bp is an international solar business. Choose a career where you are empowered to change the world! In the US, the companys securities are traded on the New York Stock Exchange (NYSE) in the form of ADSs (see page 368 of the bp Annual Report and Form 20-F 2021 for more details) and in Germany in the form of a global depositary certificate representing bp ordinary shares traded on the Frankfurt, Hamburg and Dusseldorf Stock Exchanges. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. Find out more about us and how were working together to create a sustainable energy future for us all. 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. Home - Lightsource bp Lightsource bp | LinkedIn 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. We use cookies to make our services work and collect analytics information. 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. 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. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. BP returns to solar with investment in Lightsource | Reuters This is where we come in. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. 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. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. 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 full details of our Gender Pay Gap Report 2018can be found here. For more information on bp in the US, visit www.bp.com/us. 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 great majority of this investment will fund Lightsource's. 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. Lightsource bp is a global leader with local impact. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. The Directors remuneration report is on pages 116-141. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . 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. 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. 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. Lightsource bp Renewable Energy Investments Limited. GBp 'The potential for solar is huge': future looks bright for Lightsource BP *Market data delayed by 20 minutes. 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 you experience any issues with this process, please contact us for further assistance. 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. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 In just 11 months, the company has been awarded significant corporate power contracts in the US and Australia, entered the Egyptian energy market through a joint venture, and established a 500 million green energy infrastructure fund in India. Lightsource bp pays for the first $800 of the monthly insurance premium. Modern Slavery And Human Trafficking Statement. 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. We power businesses and communities across the US with clean and affordable energy solutions. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. 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. (Loading), USD And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. 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 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. We use cookies to collect and analyse information on our site's performance and to enable the site to function. BP p.l.c. Report this post Report Report. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. You can change your cookie settings at any time. bps finances are strong and resilient. We work with businesses and communities around the world to deliver low-carbon solar energy projects. In March 2016, Lightsource Renewable Energy successfully completed and connected Europes largest floating solar farm, installing 6.3MW on the Queen Elizabeth II Reservoir, near London. Solar-powered steel production from Lightsource bp's Bighorn Project in (Loading)*. 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. First Solar Investor Relations
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. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. 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. Interview with Emilie Wangerman, Senior VP, Head of Business Actual results may differ materially from those expressed in such statements depending on a variety of factors. Our team includes over 500 industry specialists, working across 15 countries. 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? Choose a career where you are empowered to change the world! For more information, please visit www.firstsolar.com. 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. 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. 2023 Lightsource. Lightsource bp Renewable Energy Investments Limited. 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. 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. Lightsource Bp Renewable Energy Investments Limited And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. Delivered by Investis. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. 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. Lightsource BP starts operating massive solar project in North Texas 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. 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. Please refer to the Cautionary statement on page 364 of the full bp Annual Report and Form 20-F 2021 for further information on forward-looking statements. We are using cookies to give you the best experience on our website. Lightsource bp | What we do | Home - United States 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. 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. 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. 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 Closes Financing Package and Mobilizes Construction on November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. 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. 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. Home, Britoil, Lightsource BP, Llandarcy. About bp Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Lightsource bp and bp Sign Multi-Year Agreement for up to All quotes delayed a minimum of 15 minutes. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). Lightsource bp gets financing for massive Pointe - Business Report 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. All rights reserved. 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. You can find out more about which cookies we are using or switch them off in settings. Lightsource bp is a global leader in utility-scale solar development and management. 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. 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. 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. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. Annual report | Investors | Home - bp global BP are able to deliver more than just solar. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Brazil is a massive market with huge potential. 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. Contact info@lightsourcebp.com SOCIAL RESOURCES 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. 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. 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 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. 264.7 KB. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. 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. A year ago, Lightsource was the established solar leader in Europe. 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. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. 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 consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. You've accepted analytics cookies. It also translates into competitively priced electricity for our customers., Felipe Arbelaez, bps senior vice president of zero carbon energy, added: To help reach our net zero ambition and develop 50GW of renewable power by the end of this decade, we continue to invest in clean, reliable energy in the US. We have always been driven, and our partnership with BP is a great enabler. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. February 27, 2023. 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. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC, We Want to Help the World Reach Net Zero and Improve People's Lives, Reliance and BP Move Forward with Indian Fuels Partnership., BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components, Press Release by BP and Reliance Industries Limited, BP International Limited ANNUAL REPORT and FINANCIAL, In the Superior Court of the State of Delaware, 1 Complaint Against BP in Respect of Violations of the OECD Guidelines, Plaintiffs' Response in Opposition to BP Motion, Energy Transition: Evolution Or Revolution? 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. Lightsource BP: one year on and going global 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. 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. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. Lightsource BP - Wikipedia We power businesses and communities across the US with clean and affordable energy solutions. 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. We are using cookies to give you the best experience on our website. News & insights | Lightsource bp 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. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. 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. The companys primary share listing is the London Stock Exchange. 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. The modules, scheduled. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. At Lightsource bp, weve been developing utility-scale solar projects since 2010. Construction on this project commenced in December 2019. We represent the opposite of that.. The parent company financial statements of BP p.l.c. 2023 Lightsource. 2005 BP Alternative Energy Is Launched, from the Deep Sea to the Desert, from Rigs to Retail, Charging Company, Energy with Purpose Means Helping the World Reach Net Zero, BP Plc Group Results Second Quarter and Half Year 2020(A), Exxon Mobil Corp., Exxonmobil Oil Index No, The Forces Maintaining Fossil Fuel Dependence in the Age of Electric, Financial Institutions with a Full Business Law Service, BP P.L.C. 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. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010.