lightsource bp annual report10 marca 2023
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. 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 is a global leader in utility-scale solar development and management. 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. This website uses cookies so that we can provide you with the best user experience possible. 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. pdf / November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. 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. 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. November:contracts are signed for 25MW of solar power in Western US. The parent company financial statements of BP p.l.c. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. Sustainability is integrated into our business strategy and operating model at every level. Find out more about how Lightsource bp works and operates and our partnership with bp. If you experience any issues with this process, please contact us for further assistance. 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. 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. Lightsource and bp celebrate five-year anniversary. It is just the start for us in Latin America, Souflis adds. 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. 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. The Directors remuneration report is on pages 116-141. Lightsource and bp celebrate five-year anniversary. 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. 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. Lightsource bp is an international solar business. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. Delivered by Investis. 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. All rights reserved. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. For more information, please visit www.firstsolar.com. See here for a complete list of exchanges and delays. GBp You've rejected analytics cookies. 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. It also translates into competitively priced electricity for our customers., Felipe Arbelaez, bps senior vice president of zero carbon energy, added: To help reach our net zero ambition and develop 50GW of renewable power by the end of this decade, we continue to invest in clean, reliable energy in the US. 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. And the next big steps are bigger projects and more volume. investor@firstsolar.com Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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). Lightsource bp is an international solar business. Partnerships are a key part of our approach, enabling better and faster utilization of our network. 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. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 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. For more information on bp in the US, visit www.bp.com/us. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Where we refer to the company, we mean BP p.l.c. 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 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. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. 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 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. Lightsource bp is a global leader in utility-scale solar development and management. 2018, The BP partnership has definitely given our whole team confidence. *Market data delayed by 20 minutes. 2023 Lightsource. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. All rights reserved. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. 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. 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. We are using cookies to give you the best experience on our website. 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. Legal notice in relation to the material on this page. 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. "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. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. 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. The Material does not (i) form part of the bp Annual Report and, pdf / It is a key element in BP CEO Bernard Looneys plan to grow BPs renewable power generation capacity 20-fold by 2030 to 50 GW from solar and wind power. 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. Our sector is fundamentally about financing. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. (Loading)*. For more information please visit www.lightsourcebp.com. You can sign up for additional alert options at any time. All rights reserved. (Loading)*. Choose a career where you are empowered to change the world! 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. 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. June:first utility solar plant in Maharashtra, India, iscompleted and connected financed by UK Climate Investments, a JV between the Green Investment Group and the Department for Business Energy and Industrial Strategy. High-grading our portfolio, lowering our emissions and driving returns. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. 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. LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. for the year ended 31 December 2021. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. 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. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. 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. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. Actual results may differ materially from those expressed in such statements depending on a variety of factors. 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. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. This website uses cookies so that we can provide you with the best user experience possible. Delivered by Investis. 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. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. ()*, GBp Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. We use cookies to make our services work and collect analytics information. TEMPE, Ariz., Nov. 22, 2021 (GLOBE NEWSWIRE) -- First Solar, Inc. (Nasdaq: FSLR) today announced that global solar leader Lightsource bp and integrated energy company bp have placed multi-year orders for up to 5.4 gigawatts (GW) combined of First Solars advanced, ultra-low carbon thin film photovoltaic (PV) solar modules. That's enough to power approximately 86,000 homes in New South Wales. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. The full details of our Gender Pay Gap Report 2018 can be found here. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. A year ago, Lightsource was the established solar leader in Europe. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). 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 returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. You should not place undue reliance on these forward-looking statements. 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 . The 260-megawatt Impact . We recognise that the rising need for energy must be met through sustainable sources. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. We are using cookies to give you the best experience on our website. And, if youre confident, you can put your head down and deliver. 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. 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. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. 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 Renewable Energy Investments Limited. 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. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. *Market data delayed by 20 minutes. 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. We use some essential cookies to make our services work. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. This website uses cookies so that we can provide you with the best user experience possible. 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. BP International Limited. You can find out more about which cookies we are using or switch them off in settings. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. About First Solar, Inc. 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. Doubling adjusted EBITDA, sustaining returns, focused on customers. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. farmers and ranchers face increasing economic stress. 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. The companys primary share listing is the London Stock Exchange. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. All rights reserved. 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. After submitting your request, you will receive an activation email to the requested email address. Ordinary shares are ordinary fully paid shares in BP p.l.c. This website uses cookies so that we can provide you with the best user experience possible. This website uses cookies so that we can provide you with the best user experience possible. 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. 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 / Our team includes over 500 industry specialists, working across 15 countries. 8.3 MB. 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. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. 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. Post Online Media. 260MW of affordable, clean and locally generated electricity for Texas communities. 2023 Lightsource. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. When I think about how weve grown as a company, its very, very different to just adding megawatts we have also added great talent and continued to mature and innovate for clients and other stakeholders to stay ahead of the competition, says Brooks. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. 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. 2.2 MB. The BP partnership has definitely given our whole team confidence, Brooks says. You can find out more about which cookies we are using or switch them off in settings. 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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. 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. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. 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 . Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. Our growth has been in maturing the organization and getting into a strong operating position for next year. Our team includes over 500 industry specialists, working across 15 countries. 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. 264.7 KB. The company and each of its subsidiaries are separate legal entities. We continue to grow teams, partnerships and projects throughout the world. Weve just released our second annual Gender Pay Gap Report, which covers our gender differences in terms of population, pay and bonus levels from March 2017 to March 2018. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. 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. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. (), USD 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. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 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. There is going to be a huge amount of capital flow into new business models, he predicts. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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 Standards: The Thomson Reuters Trust Principles. For First Solar Investors Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . Assist in contract negotiation and. 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. Brooks has a Winston Churchill quote in mind: Now, this is not the end. 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. Sustainability is at our core. bps finances are strong and resilient. BP and Lightsource announced the partnership in December. Lightsource bp Renewable Energy Investments Limited. 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. 2023 Lightsource. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. BP p.l.c. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. 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. of 1 each. 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. 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. 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. 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.
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