November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. Procurement agreement with US-based manufacturer. Legal notice in relation to the material on this page. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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.. These factors include, but are not limited to, the matters discussed under the captions Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements. is the parent company of the bp group of companies. We use cookies to collect and analyse information on our site's performance and to enable the site to function. Our Standards: The Thomson Reuters Trust Principles. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. We use cookies to make our services work and collect analytics information. 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. GBp 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. Sustainability is integrated into our business strategy and operating model at every level. 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. Lightsource bp is an international solar business. 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. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. 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. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. Lightsource BP's initial goal was to use the oil giant's financial muscle to grow a 1.6 gigawatt pipeline of solar projects to a portfolio of 10GW of solar investments by 2023. BPs shares linger near 25-year lows after it halved its dividend in August. BP and Lightsource announced the partnership in December. And the next big steps are bigger projects and more volume. Our sector is fundamentally about financing. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Construction on this project commenced in December 2019. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. *Market data delayed by 20 minutes. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . 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. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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 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. 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. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. (), USD Building scale with capital discipline and returns focus. The full details of our Gender Pay Gap Report 2018 can be found here. Discover how we are creating a positive impact across energy, the environment and our people. 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. 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. The full details of our Gender Pay Gap Report 2018can be found here. February 27, 2023. Sustainability is at our core. We use cookies to collect and analyse information on our site's performance and to enable the site to function. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. Lightsource bp Renewable Energy Investments Limited. 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. We use some essential cookies to make our services work. 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. Assist in contract negotiation and. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. 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. 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. 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. 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. 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. Group Results Fourth Quarter and Full Year 2019 Highlights. You must click the activation link in order to complete your subscription. 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 consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. The Material does not (i) form part of the bp Annual Report and, pdf / 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. This is where we come in. 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.. 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. *Market data delayed by 20 minutes. 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. November:expansion into Italy, Iberia and Brazil is announced. 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. Every region receives a tailored approach and is managed by a local team. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 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. 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. 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. Lightsource BP, a global solar company in which oil major BP has a 50 percent stake, has begun commercial operation of its largest solar project located in North Texas. 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. 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. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. Report this post Report Report. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. investor@firstsolar.com You can find out more about which cookies we are using or switch them off in settings. Lightsource bp Renewable Energy Investments Limited. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. 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. Ordinary shares are ordinary fully paid shares in BP p.l.c. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. November:contracts are signed for 25MW of solar power in Western US. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. BP p.l.c. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. For more information please visit www.lightsourcebp.com. 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. The Directors remuneration report is on pages 116-141. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. The 260-megawatt Impact . 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. 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. TEMPE, Ariz., Nov. 22, 2021 (GLOBE NEWSWIRE) -- First Solar, Inc. (Nasdaq: FSLR) today announced that global solar leader Lightsource bp and integrated energy company bp have placed multi-year orders for up to 5.4 gigawatts (GW) combined of First Solars advanced, ultra-low carbon thin film photovoltaic (PV) solar modules. 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. All rights reserved. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. We have always been driven, and our partnership with BP is a great enabler. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. Lightsource bp Renewable Energy Investments Limited. farmers and ranchers face increasing economic stress. 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. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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. 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. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. 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 is a global leader in utility-scale solar development and management. Read more about supporting local communities, Procurement agreement with US-based manufacturer. 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.
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