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'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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. For more information please visit www.lightsourcebp.com. The full details of our Gender Pay Gap Report 2018 can be found here. We are using cookies to give you the best experience on our website. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. 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. 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. 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. Legal notice in relation to the material on this page. 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. 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 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. 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. This website uses cookies so that we can provide you with the best user experience possible. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana The great majority of this investment will fund Lightsource's. in 2001. Sustainability is integrated into our business strategy and operating model at every level. Here are some examples of how we performed in 2021. You've accepted analytics cookies. 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. I joined when it was just six people huddled around two laptops, and from that first moment the ethos was clear, 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). 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. Our sector is fundamentally about financing. We know many ways in which to finance projects and understand the market for financing very differently.. is the parent company of the bp group of companies. Lightsource bp is a global leader in utility-scale solar development and management. bps finances are strong and resilient. The companys primary share listing is the London Stock Exchange. Lightsource bp Renewable Energy Investments Limited. And, if youre confident, you can put your head down and deliver. BP and Lightsource announced the partnership in December. 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. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. All rights reserved. 260MW of affordable, clean and locally generated electricity for Texas communities. I started in this business six years ago, when we were just finding our feet in the UK and a few hundred megawatts seemed a big ambition. 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. 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. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. 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. We are using cookies to give you the best experience on our website. Delivered by Investis. Oversee onboarding of new facilities. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. Ordinary shares are ordinary fully paid shares in BP p.l.c. Actual results may differ materially from those expressed in such statements depending on a variety of factors. Lightsource bp Renewable Energy Investments Limited. In a statement Thursday, Lightsource bp which oil. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. 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. 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. 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. 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). 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. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. We are using cookies to give you the best experience on our website. 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. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. High-grading our portfolio, lowering our emissions and driving returns. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. Back Submit . investor@firstsolar.com Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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 projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. We continue to grow teams, partnerships and projects throughout the world. 2018, The BP partnership has definitely given our whole team confidence. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. If you experience any issues with this process, please contact us for further assistance. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. About bp May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. 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. Procurement agreement with US-based manufacturer. Lightsource bp is a global leader in utility-scale solar development and management. 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 consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. Read story 28 Feb, 2023 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. 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 . Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. COLUMBUS, Ohio-- ( BUSINESS WIRE )--Lightsource bp has executed a power purchase agreement with Amazon for a new 375 megawatt (MWdc) solar project under development in Ohio, as part of Amazon's. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. 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 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. pdf / We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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,. BPs shares linger near 25-year lows after it halved its dividend in August. Brooks has a Winston Churchill quote in mind: Now, this is not the end. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. For First Solar Investors Group Results Fourth Quarter and Full Year 2019 Highlights. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. We are using cookies to give you the best experience on our website. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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 team includes over 500 industry specialists, working across 15 countries. 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. The framework agreements, the largest in First Solars history, will provide modules scheduled to be delivered between 2023 and 2025 to support the companies solar development pipelines in the United States. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. This website uses cookies so that we can provide you with the best user experience possible. Brazil is a massive market with huge potential. 8.3 MB. First Solar Investor Relations Helge Lund, chair Chair's letter pdf / 264.7 KB In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. LSbp's first site produced just 0.7 megawatts (MW) of solar power. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. This website uses cookies so that we can provide you with the best user experience possible. GBp 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. Read more about supporting local communities, Procurement agreement with US-based manufacturer. With smaller pockets, comes a different approach. Find out more about how Lightsource bp works and operates and our partnership with bp. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. 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. 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. The Material does not (i) form part of the bp Annual Report and, pdf / 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. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. 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, 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. We are using cookies to give you the best experience on our website. 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.