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. That's enough to power approximately 86,000 homes in New South Wales. 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. Lightsource bp Renewable Energy Investments Limited. 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 . We build, own and operate cost-effective, clean energy projects, and are dedicated to pushing the frontiers of solar and storage solutions, backed by world-class execution capabilities. 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. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. *Market data delayed by 20 minutes. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. Forward-looking statements are only predictions based on our current expectations and our projections about future events and therefore speak only as of the date of this release. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 Partnerships are a key part of our approach, enabling better and faster utilization of our network. All rights reserved. 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. You can sign up for additional alert options at any time. And the next big steps are bigger projects and more volume. We recognise that the rising need for energy must be met through sustainable sources. When BP announced its stake in Lightsource in late-December 2017, committing $200 million over three years, Brooks was just a year into his role. 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. 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. 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,. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. 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. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. 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. for the year ended 31 December 2021. 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. We are using cookies to give you the best experience on our website. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. 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. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. 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. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. 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. 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. Back Submit . 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. (Loading)*. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. High-grading our portfolio, lowering our emissions and driving returns. 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. GBp Find out more about how Lightsource bp works and operates and our partnership with 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. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. This website uses cookies so that we can provide you with the best user experience possible. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. You must click the activation link in order to complete your subscription. 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. Sustainability is integrated into our business strategy and operating model at every level. We are using cookies to give you the best experience on our website. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 2023 Lightsource. As a business we care deeply about the impact of our projects, our culture and values, and our team members. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. Lightsource bp Renewable Energy Investments Limited. All rights reserved. Every region receives a tailored approach and is managed by a local team. 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. 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. 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. 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. are on pages 282-336. About bp Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. 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. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. The US solar industry is at an important inflection point where it must continue the charge towards delivering 45% of our countrys electricity by 2050 while addressing the risks and uncertainty posed by increasingly volatile solar panel production, pricing, and supply, said Georges Antoun, chief commercial officer, First Solar. The bp Annual Report and Form 20-F 2021 available for download on this webpage constitutes the Annual Report and Accounts in accordance with UK requirements and the Annual Report on Form 20-F in accordance with the US Securities Exchange Act of 1934, for BP p.l.c. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Our Standards: The Thomson Reuters Trust Principles. Here are some examples of how we performed in 2021. After submitting your request, you will receive an activation email to the requested email address. 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, 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. 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. We are using cookies to give you the best experience on our website. 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 companys primary share listing is the London Stock Exchange. (Loading), USD Lightsource bp Renewable Energy Investments Limited. 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. It makes good business sense, too. Assist in contract negotiation and. 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. of 1 each. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. The company and each of its subsidiaries are separate legal entities. 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. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. Home, Britoil, Lightsource BP, Llandarcy. 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. The BP partnership has definitely given our whole team confidence, Brooks says. Post Online Media. We are using cookies to give you the best experience on our website. Were looking at assets in some parts of Europe that definitely offer double digit returns and we are also looking at assets in other parts of the world that are lower than that, he told Reuters in an interview this month. Lightsource and bp celebrate five-year anniversary. 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. 2023 Lightsource. 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. 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). Choose a career where you are empowered to change the world! There is going to be a huge amount of capital flow into new business models, he predicts. Construction on this project commenced in December 2019. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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 week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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 it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. 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. 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. 2023 Lightsource. We continue to grow teams, partnerships and projects throughout the world. 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.