lightsource bp annual report

Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. As a business we care deeply about the impact of our projects, our culture and values, and our team members. 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.. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. 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. Doubling adjusted EBITDA, sustaining returns, focused on customers. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. 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. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. (), USD Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. 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. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. 2023 Lightsource. About bp Lightsource and bp celebrate five-year anniversary. farmers and ranchers face increasing economic stress. After submitting your request, you will receive an activation email to the requested email address. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. 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. You must click the activation link in order to complete your subscription. We use cookies to collect and analyse information on our site's performance and to enable the site to function. November:contracts are signed for 25MW of solar power in Western US. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with 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. We represent the opposite of that.. 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. The 260-megawatt Impact . Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. 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. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. 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. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . The great majority of this investment will fund Lightsource's. As the company's shares, in the form of ADSs, are listed on the NYSE, an Annual Report on Form 20-F is filed with the SEC. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. 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. 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. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. The Directors remuneration report is on pages 116-141. 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). Lightsource bp Renewable Energy Investments Limited. 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, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. 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. 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. 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. 260MW of affordable, clean and locally generated electricity for Texas communities. in 2001. 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 and bp will benefit from the evolution of First Solars advanced Cadmium Telluride (CadTel) thin film module technology platform over the span of the agreement. You can find out more about which cookies we are using or switch them off in settings. Our growth has been in maturing the organization and getting into a strong operating position for next year. 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. You can find out more about which cookies we are using or switch them off in settings. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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. The modules, scheduled. We use some essential cookies to make our services work. 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. The companys primary share listing is the London Stock Exchange. A year ago, Lightsource was the established solar leader in Europe. This website uses cookies so that we can provide you with the best user experience possible. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 2.2 MB. All rights reserved. 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. 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. Post Online Media. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. You can find out more about which cookies we are using or switch them off in settings. Our success is built on more than just our solar projects. First Solar is a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. And the next big steps are bigger projects and more volume. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. You can change your cookie settings at any time. The parent company financial statements of BP p.l.c. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. "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. 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. 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. November:expansion into Italy, Iberia and Brazil is announced. 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. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. If you experience any issues with this process, please contact us for further assistance. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. Read story 28 Feb, 2023 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. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. 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 consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. 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. 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. 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. 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. Procurement agreement with US-based manufacturer. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. Assist in contract negotiation and. 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. 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. November At Lightsource bp, weve been developing utility-scale solar projects since 2010. 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. 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. Our team includes over 500 industry specialists, working across 15 countries. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. The Material does not (i) form part of the bp Annual Report and, pdf / Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. 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. 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. You should not place undue reliance on these forward-looking statements. 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. Read more about supporting local communities, Procurement agreement with US-based manufacturer. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Find out more about our sustainability strategy and initatives. BP International Limited. 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. Lightsource bp Renewable Energy Investments Limited. (Loading), USD We power businesses and communities across the US with clean and affordable energy solutions. Find out more about us and how were working together to create a sustainable energy future for us all. We are using cookies to give you the best experience on our website. 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. 382.4 KB, pdf / For more information please visit www.lightsourcebp.com. 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. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. 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. (Loading)*. 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. We recognise that the rising need for energy must be met through sustainable sources. Construction on this project commenced in December 2019. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . You can change your cookie settings at any time. 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. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. We are using cookies to give you the best experience on our website. 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. 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. 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. It is not even the beginning of the end. We believe that sustainability and social responsibility are crucial for long-term business success and this is embedded within our business model, holding us accountable to those principles. 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. This website uses cookies so that we can provide you with the best user experience possible. 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.. 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. 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. 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 . Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. 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 Renewable Energy Investments Limited. Where we refer to the company, we mean BP p.l.c. GBp You can sign up for additional alert options at any time. You can find out more about which cookies we are using or switch them off in settings. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. Read story Prev 1 2 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. 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. Building scale with capital discipline and returns focus. Brazil is a massive market with huge potential. Lightsource bp pays for the first $800 of the monthly insurance premium. *Market data delayed by 20 minutes. 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. We use cookies to collect and analyse information on our site's performance and to enable the site to function. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. 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. 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. 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. 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. Sustainability is integrated into our business strategy and operating model at every level. ()*, GBp 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. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed.

What Is Distribution Coefficient In Solvent Extraction, Restaurant Bar And Grill Liverpool Menu, Globoforce Redeem Points, Most Punctual Trains In The World, Articles L