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. 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 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. The 260-megawatt Impact . 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. Read story Prev 1 2 The BP partnership has definitely given our whole team confidence, Brooks says. Oversee onboarding of new facilities. BP p.l.c. 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? 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. A year ago, Lightsource was the established solar leader in Europe. 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. The project will be the largest solar project in the state and will help McDonald's and eBay meet their sustainability goals and advance their commitment to climate action. The full details of our Gender Pay Gap Report 2018 can be found here. 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. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. GBp The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. 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. 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. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. It makes good business sense, too. 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. Lightsource bp is an international solar business. of 1 each. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. 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. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. Our Standards: The Thomson Reuters Trust Principles. are on pages 282-336. Our sector is fundamentally about financing. If you experience any issues with this process, please contact us for further assistance. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. All rights reserved. GBp 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. 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. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. 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. And, if youre confident, you can put your head down and deliver. 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. Brooks has a Winston Churchill quote in mind: Now, this is not the end. 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. 8.3 MB. 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. 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. Actual results may differ materially from those expressed in such statements depending on a variety of factors. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Delivered by Investis. Back Submit . is the parent company of the bp group of companies. 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. 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. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. For more information please visit www.lightsourcebp.com. 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. 2018, The BP partnership has definitely given our whole team confidence. 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. Lightsource bp Renewable Energy Investments Limited. Sustainability is integrated into our business strategy and operating model at every level. Delivered by Investis. Here are some examples of how we performed in 2021. 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. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). 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 / 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. 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. Read more about supporting local communities, Procurement agreement with US-based manufacturer. Brazil is a massive market with huge potential. 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. 2023 Lightsource. *Market data delayed by 20 minutes. Find out more about how Lightsource bp works and operates and our partnership with bp. LSbp's first site produced just 0.7 megawatts (MW) of solar power. Construction on this project commenced in December 2019. We work with businesses and communities around the world to deliver low-carbon solar energy projects. November Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. We know many ways in which to finance projects and understand the market for financing very differently.. Lightsource bp Renewable Energy Investments Limited. 2.2 MB. New Mexico You can find out more about which cookies we are using or switch them off in settings. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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. 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. All rights reserved. Lightsource bp and bp have signed a multi-year agreement for up to 5.4 gigawatts of First Solar modules to be delivered between 2023 and 2025 (Photo: Lightsource bp) Order includes up to 4.3GW for . About First Solar, Inc. 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. For First Solar Investors And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. 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. 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. 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. 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 . As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. 2023 Lightsource. We are using cookies to give you the best experience on our website. Read story 28 Feb, 2023 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. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. 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 . This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. 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. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . Energy Outlook 2023 considers the recent disruption to global energy supplies and associated impacts on global prices, and explores how this could affect the energy transition out to 2050. With smaller pockets, comes a different approach. The anniversary of BP's investment in Europe's largest solar developer is coinciding with its announcement of expansion into Brazil, the latest step in the company's growing global footprint As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europe's largest solar developer. We are using cookies to give you the best experience on our website. The Directors remuneration report is on pages 116-141. investor@firstsolar.com 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. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. After submitting your request, you will receive an activation email to the requested email address. You've rejected analytics cookies. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. Report this post Report Report. (), USD The companys primary share listing is the London Stock Exchange. You should not place undue reliance on these forward-looking statements. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. 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? 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. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. Lightsource bp is a global leader in utility-scale solar development and management. 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. Our growth has been in maturing the organization and getting into a strong operating position for next year. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. November:contracts are signed for 25MW of solar power in Western US. Procurement agreement with US-based manufacturer. 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. 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. We power businesses and communities across the US with clean and affordable energy solutions. It is just the start for us in Latin America, Souflis adds. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. (Loading)*. bps finances are strong and resilient. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. 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. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. 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. 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.. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. February 27, 2023. Our success is built on more than just our solar projects. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. We continue to grow teams, partnerships and projects throughout the world. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. First Solar Investor Relations ()*, GBp That's enough to power approximately 86,000 homes in New South Wales. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. 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. Lightsource bp is a global leader with local impact. 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. 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. 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. 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. 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. You can change your cookie settings at any time. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. In just 11 months, the company has been awarded significant corporate power contracts in the US and Australia, entered the Egyptian energy market through a joint venture, and established a 500 million green energy infrastructure fund in India.