lightsource bp annual report

See here for a complete list of exchanges and delays. 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 development of our projects are underpinned by our core values, ethically focussed and climate conscious. 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. Find out more about our sustainability strategy and initatives. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. 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. Lightsource bp, a global leader in the development and management of solar energy projects, today announced the sale of five utility scale solar photovoltaic (PV) Read story 28 Nov, 2022 COP 27: Meet the Lightsource bp delegation The rapid deployment of solar power on a vast scale is essential to limit global warming to 1.5C. Lightsource bp 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. investor@firstsolar.com Every region receives a tailored approach and is managed by a local team. 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. All rights reserved. BP p.l.c. 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. 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. 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. The modules, scheduled. All quotes delayed a minimum of 15 minutes. *Market data delayed by 20 minutes. Back Submit . 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. 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. 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. 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. The company and each of its subsidiaries are separate legal entities. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. If you experience any issues with this process, please contact us for further assistance. 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. About First Solar, Inc. In a statement Thursday, Lightsource bp which oil. You must click the activation link in order to complete your subscription. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie 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. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. 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. Here are some examples of how we performed in 2021. 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. The great majority of this investment will fund Lightsource's. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. You should not place undue reliance on these forward-looking statements. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. The companys primary share listing is the London Stock Exchange. 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. Lightsource bp is an international solar business. 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. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. in 2001. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. Read story Prev 1 2 Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. The full details of our Gender Pay Gap Report 2018 can be found here. 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 . 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. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. 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. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. With smaller pockets, comes a different approach. GBp LSbp's first site produced just 0.7 megawatts (MW) of solar power. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. We power businesses and communities across the US with clean and affordable energy solutions. (), USD All rights reserved. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. Read story 28 Feb, 2023 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. We have always been driven, and our partnership with BP is a great enabler. We power businesses and communities across the US with clean and affordable energy solutions. Group Results Fourth Quarter and Full Year 2019 Highlights. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. 2023 Lightsource. This is where we come in. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. Partnerships are a key part of our approach, enabling better and faster utilization of our network. With First Solars expansion in the United States and India and optimization of its existing fleet, the company anticipates that its nameplate manufacturing capacity will double to 16GW by 2024. 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. 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, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. Read more about supporting local communities, Procurement agreement with US-based manufacturer. 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. Sustainability is integrated into our business strategy and operating model at every level. The full details of our Gender Pay Gap Report 2018can be found here. 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. 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. 2023 Lightsource. At Lightsource bp, weve been developing utility-scale solar projects since 2010. Ordinary shares are ordinary fully paid shares in BP p.l.c. Legal notice in relation to the material on this page. 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. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. Cookies also allow us and our partners to show you relevant ads when you visit our site and other 3rd party websites, including social networks. You can find out more about which cookies we are using or switch them off in settings. 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. Our gigawatt-approach to solar provides many benefits to our partners worldwide by leveraging economies of scale, ethical and sustainable procurement, and continuous improvement on quality and efficiency. 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. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. Choose a career where you are empowered to change the world! Developed at R&D labs in California and Ohio, the companys advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. 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. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. For more information please visit www.lightsourcebp.com. For more information, please visit www.firstsolar.com. 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. Helge Lund, chair Chair's letter pdf / 264.7 KB 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. Procurement agreement with US-based manufacturer. 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. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. BP are able to deliver more than just solar. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. 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 . 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. It is not even the beginning of the end. 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. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. (), USD 2023 Lightsource. Our team includes over 500 industry specialists, working across 15 countries. Choose a career where you are empowered to change the world! Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. is the parent company of the bp group of companies. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. Delivered by Investis. If you are passionate about accelerating the energy transition, and looking to join a global collaboration of team members focused on delivering sustainable power, visit our careers page to find out more about working at Lightsource bp. (Loading)*. 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. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. Lightsource bp is a global leader with local impact. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. November This drives our commitment and continued effort to integrate sustainable business practices into everything we do. 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. This website uses cookies so that we can provide you with the best user experience possible. It makes good business sense, too. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 2023 Lightsource. 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. 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. Lightsource bp Renewable Energy Investments Limited. 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. A year ago, Lightsource was the established solar leader in Europe. Our Standards: The Thomson Reuters Trust Principles. As the first person on the ground when entering a new territory, he has found that, over the past year, the BP name has opened a lot of doors. 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 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. Our success is built on more than just our solar projects. This website uses cookies so that we can provide you with the best user experience possible. 8.3 MB. Lightsource bp Renewable Energy Semiconductor Manufacturing . 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. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. ()*, GBp Lightsource and bp celebrate five-year anniversary. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. You can change your cookie settings at any time. 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. (Loading)*. You can find out more about which cookies we are using or switch them off in settings. All rights reserved. Our sector is fundamentally about financing. It is just the start for us in Latin America, Souflis adds. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. 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. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. Where we refer to the company, we mean BP p.l.c. Doubling adjusted EBITDA, sustaining returns, focused on customers. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. are on pages 282-336. All rights reserved. Our growth has been in maturing the organization and getting into a strong operating position for next year. 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 / 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. Information in the bp Annual Report and Form 20-F 2021 reflects 100% of the assets and operations of the company and its subsidiaries that were consolidated at the date or for the periods indicated, including non-controlling interests. pdf / "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 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 and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Will stimulate local economy by bringing an estimated $30 million in new revenue to the . BPs shares linger near 25-year lows after it halved its dividend in August. Lightsource bp pays for the first $800 of the monthly insurance premium. About bp Actual results may differ materially from those expressed in such statements depending on a variety of factors. 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. First Solar Investor Relations We use cookies to make our services work and collect analytics information. We use cookies to collect and analyse information on our site's performance and to enable the site to function. After submitting your request, you will receive an activation email to the requested email address. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . 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 website uses cookies so that we can provide you with the best user experience possible. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. (Loading), USD Brazil is a massive market with huge potential. 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. 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. 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. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. 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. 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. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c.