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. Lightsource bp Renewable Energy Investments Limited. Our team includes over 500 industry specialists, working across 15 countries. Led by Emilie Wangerman, Lightsource bp's business development team supported bp in acquiring an additional 9 GW pipeline of projects from 7X Energy, Inc., which will be exclusively developed by Lightsource bp's U.S. team. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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 / 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. 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 power businesses and communities across the US with clean and affordable energy solutions. All rights reserved. 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. The Directors remuneration report is on pages 116-141. 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. 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. The BP partnership has definitely given our whole team confidence, Brooks says. 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. 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. 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. 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. 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. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. 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, rebranded from Lightsource Renewable Energy in 2018, is the largest solar developer in Europe, and third largest in the world outside of China. We continue to grow teams, partnerships and projects throughout the world. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. Back Submit . is the parent company of the bp group of companies. Actual results may differ materially from those expressed in such statements depending on a variety of factors. 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. All rights reserved. Helge Lund, chair Chair's letter pdf / 264.7 KB It is not even the beginning of the end. First Solar Investor Relations What the two companies have in common is a shared ambition to accelerate the global low carbon transition. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. For more information, please visit www.firstsolar.com. 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. Modern Slavery And Human Trafficking Statement. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. 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. 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. Delivered by Investis. *Market data delayed by 20 minutes. Lightsource bp is a global leader with local impact. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. Lightsource bp Renewable Energy Investments Limited. 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. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. All rights reserved. 8.3 MB. This is where we come in. 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. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. 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. 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. 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. 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 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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. 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. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. 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. 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. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. 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. Lightsource bp Renewable Energy Investments Limited. 260MW of affordable, clean and locally generated electricity for Texas communities. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. 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. Partnerships are a key part of our approach, enabling better and faster utilization of our network. 2023 Lightsource. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. 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. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. 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 Lightsource bp Find out more about how Lightsource bp works and operates and our partnership with bp. Our success is built on more than just our solar projects. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. 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. 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. 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. We are using cookies to give you the best experience on our website. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. 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 companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. 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. 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 . Where we refer to the company, we mean BP p.l.c. "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 project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. 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. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. The bp Annual Report and Form 20-F 2021 contains the Strategic report on the inside front cover and pages 1-80 and the Directors report on pages 81-115, 116 (in part only), 142-143, 254-281 and 337-388. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. You can find out more about which cookies we are using or switch them off in settings. 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 is a global leader in utility-scale solar development and management. 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. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. Our team includes over 500 industry specialists, working across 15 countries. You must click the activation link in order to complete your subscription. This website uses cookies so that we can provide you with the best user experience possible. The modules, scheduled. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. You can find out more about which cookies we are using or switch them off in settings. 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. There is going to be a huge amount of capital flow into new business models, he predicts. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. Lightsource bp pays for the first $800 of the monthly insurance premium. We use cookies to collect and analyse information on our site's performance and to enable the site to function. Delivered by Investis. Find out more about us and how were working together to create a sustainable energy future for us all. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. 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. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. This website uses cookies so that we can provide you with the best user experience possible. 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. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. 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 parent company financial statements of BP p.l.c. 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. 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. Choose a career where you are empowered to change the world! These factors include, but are not limited to, the matters discussed under the captions Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission. 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? 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. 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. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. 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. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. ()*, GBp Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. The full details of our Gender Pay Gap Report 2018can be found here. If you experience any issues with this process, please contact us for further assistance. Read story 28 Feb, 2023 To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Discover how we are creating a positive impact across energy, the environment and our people. All rights reserved. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. Please refer to the Cautionary statement on page 364 of the full bp Annual Report and Form 20-F 2021 for further information on forward-looking statements. 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.. 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 is an international solar business. See here for a complete list of exchanges and delays. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. 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. 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. The great majority of this investment will fund Lightsource's. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. But many BP investors have cast doubts over BPs vow that the renewables business could generate returns of 8% to 10%, higher than the sectors average of 5% to 6% in order to maintain and even grow shareholder payouts. (), USD We power businesses and communities across the US with clean and affordable energy solutions. 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. 264.7 KB. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. You can find out more about which cookies we are using or switch them off in settings. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. 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.