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(Loading), USD 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 power businesses and communities across the US with clean and affordable energy solutions. This is where we come in. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. 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. 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. 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. Lightsource bp | What we do | Home - United States Brooks has a Winston Churchill quote in mind: Now, this is not the end. Every region receives a tailored approach and is managed by a local team. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 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. Back Submit . 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. The modules, scheduled. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. 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. 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. 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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. 2.2 MB. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. You can find out more about which cookies we are using or switch them off in settings. Read story 28 Feb, 2023 Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. 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? Solar-powered steel production from Lightsource bp's Bighorn Project in 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. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. About First Solar, Inc. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. "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. 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. You've accepted analytics cookies. Here are some examples of how we performed in 2021. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. farmers and ranchers face increasing economic stress. Lightsource bp is a global leader in utility-scale solar development and management. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. Speaking about the future growth of Lightsource BP, Brooks says: Ive no doubt that we will be 10 to 15 times the size we are today in a decade. Dont underestimate the ambitions of the Lightsource BP team, he warns. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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. 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. ()*, GBp Our team includes over 500 industry specialists, working across 15 countries. BP are able to deliver more than just solar. Lightsource bp Renewable Energy Investments Limited. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. Interview with Emilie Wangerman, Senior VP, Head of Business 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. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Post Online Media. Lightsource and bp celebrate five-year anniversary. Report this post Report Report. 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. (Loading), USD Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. November is the parent company of the bp group of companies. 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. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. Oversee onboarding of new facilities. Find out more about how Lightsource bp works and operates and our partnership with bp. You can find out more about which cookies we are using or switch them off in 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. 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. That's enough to power approximately 86,000 homes in New South Wales. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 2023 Lightsource. We are using cookies to give you the best experience on our website. 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 are using cookies to give you the best experience on our website. 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. 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. 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. 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. 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. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. 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. 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. The Directors remuneration report is on pages 116-141. Lightsource bp launches Bighorn Solar project in Colorado - powering BP p.l.c. We are using cookies to give you the best experience on our website. LSbp's first site produced just 0.7 megawatts (MW) of solar power. Lightsource bp and bp Sign Multi-Year Agreement for up to 5.4GW of 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. 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've rejected analytics cookies. 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. investor@firstsolar.com We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. 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. 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. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. Our most recent Annual Report and Form 20-F is available on our website at www.bp.com, or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov SOURCE BP PLC . GBp 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. 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. Legal notice in relation to the material on this page. We use cookies to collect and analyse information on our site's performance and to enable the site to function. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. Brazil is a massive market with huge potential. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. pdf / Delivered by Investis. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. of 1 each. 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. 2023 Lightsource. BP returns to solar with investment in Lightsource | Reuters Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. Annual Gender Pay Gap Report Published in the UK | Lightsource bp 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. 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 Renewable Energy Investments Limited. News & insights | Lightsource bp Lightsource bp and AEP Energy Partners Sign Power Contract for 188 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. You can find out more about which cookies we are using or switch them off in settings. Sustainability is at our core. The deal on the Lightsource deal | News and insights | Home - bp global Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. 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. Find out more about us and how were working together to create a sustainable energy future for us all. 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. Where we refer to the company, we mean BP p.l.c. Lightsource bp gets financing for massive Pointe - Business Report BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. As a business we care deeply about the impact of our projects, our culture and values, and our team members. 260MW of affordable, clean and locally generated electricity for Texas communities. 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. A year ago, Lightsource was the established solar leader in Europe. 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. You can find out more about which cookies we are using or switch them off in settings. Lightsource bp Financials | Craft.co Annual report | Investors | Home - bp global 'Terawatts mindset' as Lightsource BP bags $1.8bn to double solar Lightsource bp hiring Manager, Storage Application in Denver, Minnesota Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. (), USD 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. 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. bps finances are strong and resilient. 382.4 KB, pdf / Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. And the next big steps are bigger projects and more volume. New Mexico In a statement Thursday, Lightsource bp which oil. 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) Read story 28 Nov, 2022 COP 27: Meet the Lightsource bp delegation The rapid deployment of solar power on a vast scale is essential to limit global warming to 1.5C. Lightsource bp is an international solar business. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. 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. This website uses cookies so that we can provide you with the best user experience possible. 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. 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. 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. 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. 'The potential for solar is huge': future looks bright for Lightsource BP Brazil has all the hallmarks of a country in which Lightsource BP can thrive. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 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. 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. Lightsource BP: one year on and going global Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. 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. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. 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. Our team includes over 500 industry specialists, working across 15 countries. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. At Lightsource bp, weve been developing utility-scale solar projects since 2010. 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. 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 . You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. 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 / Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. 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. Senior Manager O&M, United States - Lightsource bp - LinkedIn November:contracts are signed for 25MW of solar power in Western US. (Loading)*. Lightsource bp Renewable Energy Semiconductor Manufacturing .

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