lightsource bp annual report

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 is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. 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. 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. November 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. 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. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. Contact info@lightsourcebp.com SOCIAL RESOURCES 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. 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. 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. 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 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. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. BP p.l.c. About Lightsource bp Sustainability is at our core. Our success is built on more than just our solar projects. 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. We use cookies to collect and analyse information on our site's performance and to enable the site to function. We represent the opposite of that.. 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. 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. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. 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 BP International Limited. All rights reserved. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. 2023 Lightsource. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. The material on the bp Annual Report webpage (the Material) relates to the year ended 31 December 2021 and is provided for general information only. You've rejected analytics cookies. 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. This website uses cookies so that we can provide you with the best user experience possible. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. 8.3 MB. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. We use cookies to make our services work and collect analytics information. Assist in contract negotiation and. Building scale with capital discipline and returns focus. 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. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. 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. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. (Loading)*. We recognise that the rising need for energy must be met through sustainable sources. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. 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? You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. You can find out more about which cookies we are using or switch them off in settings. 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, 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. TEMPE, Ariz., Nov. 22, 2021 (GLOBE NEWSWIRE) -- First Solar, Inc. (Nasdaq: FSLR) today announced that global solar leader Lightsource bp and integrated energy company bp have placed multi-year orders for up to 5.4 gigawatts (GW) combined of First Solars advanced, ultra-low carbon thin film photovoltaic (PV) solar modules. 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. 2023 Lightsource. of 25 cents each. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. The 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. Construction on this project commenced in December 2019. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. 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. It makes good business sense, too. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. Our purpose is to deliver affordable and sustainable solar. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. This website uses cookies so that we can provide you with the best user experience possible. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. Weve made a number of new hires across the Group, and the number of women in higher paying roles has increased, which is something were very proud of. First Solar Investor Relations It is just the start for us in Latin America, Souflis adds. For more information on bp in the US, visit www.bp.com/us. The brand gives us a credibility that it would take 30 years to develop on our own. Procurement agreement with US-based manufacturer. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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 power businesses and communities across the US with clean and affordable energy solutions. 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. 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. 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. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . Lightsource and bp celebrate five-year anniversary. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. And, if youre confident, you can put your head down and deliver. Group Results Fourth Quarter and Full Year 2019 Highlights. Unless otherwise stated or the context otherwise requires, the term BP or "bp" and terms such as we, us and our are used for convenience to refer to one or more of the members of the bp group instead of identifying a particular entity or entities. 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. And the next big steps are bigger projects and more volume. About bp Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. Choose a career where you are empowered to change the world! 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 . April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). We use cookies to collect and analyse information on our site's performance and to enable the site to function. You must click the activation link in order to complete your subscription. 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. It is not even the beginning of the end. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. are on pages 282-336. Lightsource bp Renewable Energy Investments Limited. 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. All rights reserved. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. 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. The parent company financial statements of BP p.l.c. You can find out more about which cookies we are using or switch them off in settings. Helge Lund, chair Chair's letter pdf / 264.7 KB 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. 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. Sustainability is integrated into our business strategy and operating model at every level. 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. 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. 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. We are using cookies to give you the best experience on our website. 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. 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. Delivered by Investis. 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. 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. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. Find out more about how Lightsource bp works and operates and our partnership with bp. 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. Post Online Media. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. 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). If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. 2.2 MB. Here are some examples of how we performed in 2021. of 1 each. You should not place undue reliance on these forward-looking statements. 260MW of affordable, clean and locally generated electricity for Texas communities. And this week, Lightsource BP announces its presence in Brazil, meaning the business is now active in 10 countries up from just five only a year ago. 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. 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. 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,. In a statement Thursday, Lightsource bp which oil. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. 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. bps finances are strong and resilient. Our sector is fundamentally about financing. (), USD 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.. 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. 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. High-grading our portfolio, lowering our emissions and driving returns. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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. A year ago, Lightsource was the established solar leader in Europe. 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.

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