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 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. We work with businesses and communities around the world to deliver low-carbon solar energy projects. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. The companys primary share listing is the London Stock Exchange. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. 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. Global leader in responsible solar development | Lightsource bp US Construction on this project commenced in December 2019. First Solar Investor Relations 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 / The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Lightsource bp Financials | Craft.co We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. Home | Lightsource bp Sustainability is at our core. Lightsource bp Renewable Energy Investments Limited. 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. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. It makes good business sense, too. News & insights | Lightsource bp 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. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. 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. Home - Lightsource bp Here are some examples of how we performed in 2021. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. Lightsource bp is a global leader in utility-scale solar development and management. Lightsource bp Renewable Energy Investments Limited. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. 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's initial goal was to use the oil giant's financial muscle to grow a 1.6 gigawatt pipeline of solar projects to a portfolio of 10GW of solar investments by 2023. Lightsource bp launches Bighorn Solar project in Colorado - powering Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. 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. Designed and developed at its research and development (R&D) centers in California and Ohio, First Solars responsibly produced advanced thin film PV modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. 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, rebranded from Lightsource Renewable Energy in 2018, is the largest solar developer in Europe, and third largest in the world outside of China. 8.3 MB. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. Doubling adjusted EBITDA, sustaining returns, focused on customers. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. 2023 Lightsource. 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. Lightsource bp Renewable Energy Investments Limited. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. 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. 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. This website uses cookies so that we can provide you with the best user experience possible. For more information please visit www.lightsourcebp.com. 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 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.. In a statement Thursday, Lightsource bp which oil. You can change your cookie settings at any time. In 1910, the steel mill, then known as The Colorado Fuel and Iron Company, employed approximately 15,000 people, or about one-tenth of the entire Colorado workforce, according to the Colorado Encyclopedia and later was the . (Loading), USD Delivered by Investis. 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. 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. 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. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. This website uses cookies so that we can provide you with the best user experience possible. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. 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 . The Directors remuneration report is on pages 116-141. 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. bps finances are strong and resilient. 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. Every region receives a tailored approach and is managed by a local team. 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. 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. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. 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. We represent the opposite of that.. All rights reserved. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. 382.4 KB, pdf / This website uses cookies so that we can provide you with the best user experience possible. Lightsource BP - Wikipedia When it joined RE100 in 2020, First Solar committed to powering 100 percent of its global manufacturing operations with renewable energy by 2028, with an interim goal of transitioning its facilities in the US to carbon-free electricity by 2026. 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. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 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. All rights reserved. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. It is just the start for us in Latin America, Souflis adds. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. BP International Limited. 2023 Lightsource. is the parent company of the bp group of companies. Lightsource bp | What we do | Home - United States 264.7 KB. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. You can find out more about which cookies we are using or switch them off in settings. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. You can find out more about which cookies we are using or switch them off in settings. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. 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. About First Solar, Inc. November:contracts are signed for 25MW of solar power in Western US. BP returns to solar with investment in Lightsource | Reuters and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. 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. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. 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. 'The potential for solar is huge': future looks bright for Lightsource BP 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.