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What the two companies have in common is a shared ambition to accelerate the global low carbon transition. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Our sector is fundamentally about financing. We are using cookies to give you the best experience on our website. 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. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. Our growth has been in maturing the organization and getting into a strong operating position for next year. Lightsource and bp celebrate five-year anniversary. 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. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. 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. 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. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. Helge Lund, chair Chair's letter pdf / 264.7 KB This website uses cookies so that we can provide you with the best user experience possible. 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. 2023 Lightsource. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. Delivered by Investis. As a leading developer, financier and operator of utility-scale solar, we have been building and growing meaningful partnerships across the energy transition for over a decade. 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. It is not even the beginning of the end. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. You can find out more about which cookies we are using or switch them off in settings. We know many ways in which to finance projects and understand the market for financing very differently.. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. 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. We use cookies to collect and analyse information on our site's performance and to enable the site to function. The BP partnership has definitely given our whole team confidence, Brooks says. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. We have always been driven, and our partnership with BP is a great enabler. 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 / for the year ended 31 December 2021. At Lightsource bp, weve been developing utility-scale solar projects since 2010. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. This website uses cookies so that we can provide you with the best user experience possible. 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. BP and Lightsource announced the partnership in December. Annual report Performing while transforming Annual Report and Form 20-F 2021 pdf / 8.3 MB Strategy Business model Remuneration Key downloads 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. Lightsource bp is a global leader in utility-scale solar development and management. 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. The Strategic report and the Directors report together include the management report required by DTR 4.1 of the UK Financial Conduct Authoritys Disclosure Guidance and Transparency Rules. You can find out more about which cookies we are using or switch them off in settings. 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. Find out more about how Lightsource bp works and operates and our partnership with bp. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. 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. Sustainability is at our core. For First Solar Investors 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. This website uses cookies so that we can provide you with the best user experience possible. BP International Limited. 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. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. Lightsource bp Renewable Energy Investments Limited. This website uses cookies so that we can provide you with the best user experience possible. LONDON, Oct 22 (Reuters) - Solar power developer Lightsource BP has generated returns of 10% and more on projects, its chief executive told Reuters as investors fret over joint owner BPs plan to switch away from oil and gas to renewables. 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. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. 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. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. November:expansion into Italy, Iberia and Brazil is announced. 2023 Lightsource. The companys primary share listing is the London Stock Exchange. 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 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. Read story 28 Feb, 2023 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. of 25 cents each. Choose a career where you are empowered to change the world! Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. 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. You've accepted analytics cookies. 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. 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. Group Results Fourth Quarter and Full Year 2019 Highlights. We are using cookies to give you the best experience on our website. 8.3 MB. 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 approach has always been to attract, select and retain the right person for each position, regardless of gender, sexuality, personal beliefs, identity and ethnicity. February 27, 2023. 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 Renewable Energy Investments Limited. of 1 each. 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. Lightsource bp Renewable Energy Semiconductor Manufacturing . Lightsource bp is a global solar leader and 50:50 JV partner with bp, working with utilities, businesses, local communities and governments to help meet the rising demand for affordable, reliable and sustainable energy. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. 260MW of affordable, clean and locally generated electricity for Texas communities. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. About First Solar, Inc. 264.7 KB. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. About bp All rights reserved. You can change your cookie settings at any time. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. 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. bps finances are strong and resilient. is the parent company of the bp group of companies. Every region receives a tailored approach and is managed by a local team. 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? 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. 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. (Loading), USD 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. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. We are using cookies to give you the best experience on our website. All rights reserved. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 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. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . 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 . 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. All rights reserved. Our Standards: The Thomson Reuters Trust Principles. All quotes delayed a minimum of 15 minutes. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. in 2001. 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. *Market data delayed by 20 minutes. 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.. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. 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. 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. 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 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. Preference shares are cumulative first preference shares and cumulative second preference 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. 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. 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. 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. Ordinary shares are ordinary fully paid shares in BP p.l.c. 2018, The BP partnership has definitely given our whole team confidence. Here are some examples of how we performed in 2021. Our purpose is to deliver affordable and sustainable solar. Building scale with capital discipline and returns focus. With smaller pockets, comes a different approach. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. 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. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. Discover how we are creating a positive impact across energy, the environment and our people. 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. 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. Lightsource bp is a global leader with local impact. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. The Directors remuneration report is on pages 116-141. 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. 602-414-9315, Lightsource bp and bp Sign Multi-Year Agreement for up to 5.4GW of First Solar Modules, Western Hemispheres largest solar manufacturing footprint. You can find out more about which cookies we are using or switch them off in settings. 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). "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. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. About Lightsource bp 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. And the next big steps are bigger projects and more volume. 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. (Loading), USD Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. The team is keen to get started in a country where solar is currently heavily underrepresented in the power generation mix but provides a cheaper, flexible, quick-to-deploy energy option that can be placed close to where the demand is. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . which is equivalent to the annual demand of approximately 36,000 New Zealand homes. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. BP <BP.L> is getting back into solar power six years after its first, failed foray, with a $200 million investment in solar generator Lightsource that the oil and gas firm expects will deliver . New Mexico Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. 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. 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. 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,. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. Lightsource and bp celebrate five-year anniversary. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Lightsource bp is a global leader in utility-scale solar development and management. The 260-megawatt Impact . LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED, for LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED (09494479), (of the document filed at Companies House), Companies House does not verify the accuracy of the information filed. (Loading)*. 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 . Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. Our team includes over 500 industry specialists, working across 15 countries. 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. The full details of our Gender Pay Gap Report 2018 can be found here. November:contracts are signed for 25MW of solar power in Western US. Procurement agreement with US-based manufacturer. The modules, scheduled. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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. 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.. 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. 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. 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? 382.4 KB, pdf / It makes good business sense, too. 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. 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. In a statement Thursday, Lightsource bp which oil. For more information, please visit www.firstsolar.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. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. The company and each of its subsidiaries are separate legal entities. 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. bp acquired the projects as part of its net zero ambition and target to grow its net developed renewable generating capacity to 20GW by 2025 and 50GW by 2030. We power businesses and communities across the US with clean and affordable energy solutions. That's enough to power approximately 86,000 homes in New South Wales. 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. The parent company financial statements of BP p.l.c. 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. We are using cookies to give you the best experience on our website. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. 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. We continue to grow teams, partnerships and projects throughout the world. Lightsource bp has agreed to procure up to 4.3GWDC of modules for its US utility-scale projects, and bp will procure up to 1.1GWDC to power their projects being developed by Lightsource bp. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia.