Brazil has all the hallmarks of a country in which Lightsource BP can thrive. 2023 Lightsource. 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. We know many ways in which to finance projects and understand the market for financing very differently.. 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. 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. Since late 2017, the team has developed a pipeline of more than 10 gigawatts of large-scale solar projects at various stages of development across the United States with over 2.8 gigawatts of contracted assets with clients in 11 states representing more than $2.3 billion in expected investment. 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. Cookies also allow us and our partners to show you relevant ads when you visit our site and other 3rd party websites, including social networks. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. 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. bps finances are strong and resilient. See here for a complete list of exchanges and delays. 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. The former Goldman Sachs principal and investor went from finance to an operating business because: I have an enormous personal conviction about the energy transition and the ability to have a real impact.. Our success is built on more than just our solar projects. A year ago, Lightsource was the established solar leader in Europe. We use cookies to collect and analyse information on our site's performance and to enable the site to function. You can find out more about which cookies we are using or switch them off in settings. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. 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. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. We are using cookies to give you the best experience on our website. Modern Slavery And Human Trafficking Statement. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. of 1 each. 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. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. Sustainability is integrated into our business strategy and operating model at every level. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. 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. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. (Loading)*. Lightsource and bp celebrate five-year anniversary. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. November:expansion into Italy, Iberia and Brazil is announced. November:contracts are signed for 25MW of solar power in Western US. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Find out more about us and how were working together to create a sustainable energy future for us all. For more information please visit www.lightsourcebp.com. 2023 Lightsource. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. pdf / 2023 Lightsource. for the year ended 31 December 2021. It is not even the beginning of the end. 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. 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. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. 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 Material does not (i) form part of the bp Annual Report and, pdf / ()*, GBp Report this post Report Report. In a statement Thursday, Lightsource bp which oil. Lightsource and bp celebrate five-year anniversary. 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. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. (Loading)*. Brooks has a Winston Churchill quote in mind: Now, this is not the end. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. 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. We power businesses and communities across the US with clean and affordable energy solutions. 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. Discover how we are creating a positive impact across energy, the environment and our people. 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 Choose a career where you are empowered to change the world! 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. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. *Market data delayed by 20 minutes. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. As a business we care deeply about the impact of our projects, our culture and values, and our team members. 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. 2.2 MB. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. 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. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . 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. We recognise that the rising need for energy must be met through sustainable sources. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. 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. 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 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. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. 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. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. 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.. 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. You've rejected analytics cookies. The great majority of this investment will fund Lightsource's. High-grading our portfolio, lowering our emissions and driving returns. This website uses cookies so that we can provide you with the best user experience possible. All rights reserved. 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. 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. Oversee onboarding of new facilities. 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. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. 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. of 25 cents each. 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. Read more about supporting local communities, Procurement agreement with US-based manufacturer. Post Online Media. About First Solar, Inc. 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 . 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. BP p.l.c. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. (), 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. 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. LSbp's first site produced just 0.7 megawatts (MW) of solar power. 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. 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. Lightsource bp Renewable Energy Semiconductor Manufacturing . GBp 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. The brand gives us a credibility that it would take 30 years to develop on our own. 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. Our purpose is to deliver affordable and sustainable solar. November 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. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. 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. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. Partnerships are a key part of our approach, enabling better and faster utilization of our network. 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.