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. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. November:contracts are signed for 25MW of solar power in Western US. See here for a complete list of exchanges and delays. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. You should not place undue reliance on these forward-looking statements. We use cookies to collect and analyse information on our site's performance and to enable the site to function. 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. are on pages 282-336. Brooks has a Winston Churchill quote in mind: Now, this is not the end. 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. Read story Prev 1 2 Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. 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. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. And, if youre confident, you can put your head down and deliver. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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 in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. Lightsource bp is a global leader in utility-scale solar development and management. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. BPs shares linger near 25-year lows after it halved its dividend in August. the Role of Oil and Gas, Sustainability Report 2020 Sustainability at Bp 2020 at a Glance Our Foundations Our Focus Areas Embedding Sustainability External Collaborations Our Reporting, Parent Company Financial Statements of BP P.L.C, DID YOU KNOW? of 25 cents each. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 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 website uses cookies so that we can provide you with the best user experience possible. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. (Loading), USD Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. pdf / 2023 Lightsource. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. 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 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 . Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. A year ago, Lightsource was the established solar leader in Europe. We have always been driven, and our partnership with BP is a great enabler. Discover how we are creating a positive impact across energy, the environment and our people. You can change your cookie settings at any time. 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. 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. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. We are using cookies to give you the best experience on our website. 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. 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. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. For First Solar Investors 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. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. Actual results may differ materially from those expressed in such statements depending on a variety of factors. After submitting your request, you will receive an activation email to the requested email address. Lightsource bp is a global leader with local impact. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. Modern Slavery And Human Trafficking Statement. The 260-megawatt Impact . First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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 bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. Contact info@lightsourcebp.com SOCIAL RESOURCES And the next big steps are bigger projects and more volume. That's enough to power approximately 86,000 homes in New South Wales. 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. Oversee onboarding of new facilities. 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. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. Our Standards: The Thomson Reuters Trust Principles. Lightsource and bp celebrate five-year anniversary. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. There is going to be a huge amount of capital flow into new business models, he predicts. Lightsource bp pays for the first $800 of the monthly insurance premium. 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. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. 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 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. 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. 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. 264.7 KB. 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). Find out more about our sustainability strategy and initatives. (Loading)*. 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. You can sign up for additional alert options at any time. 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. 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. This website uses cookies so that we can provide you with the best user experience possible. farmers and ranchers face increasing economic stress. We use cookies to make our services work and collect analytics information. 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. GBp Back Submit . Lightsource bp Renewable Energy Investments Limited. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. Read story 28 Feb, 2023 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. About Lightsource bp This website uses cookies so that we can provide you with the best user experience possible. 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. 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? You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. ()*, GBp All quotes delayed a minimum of 15 minutes. 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. 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. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 260MW of affordable, clean and locally generated electricity for Texas communities. It is not even the beginning of the end. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. investor@firstsolar.com 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. 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. Lightsource bp Renewable Energy Investments Limited. 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. Lightsource bp is an international solar business. 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. You can find out more about which cookies we are using or switch them off in settings. 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. Delivered by Investis. 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. 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. November 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. 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. The Directors remuneration report is on pages 116-141. 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. for the year ended 31 December 2021. 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. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. 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. 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 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. Building scale with capital discipline and returns focus. "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. All rights reserved. Choose a career where you are empowered to change the world! This is where we come in. Report this post Report Report. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. Our team includes over 500 industry specialists, working across 15 countries. This website uses cookies so that we can provide you with the best user experience possible. We are using cookies to give you the best experience on our website. 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. 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 parent company financial statements of BP p.l.c. Ordinary shares are ordinary fully paid shares in BP p.l.c. 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. 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. (), USD 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 . You can find out more about which cookies we are using or switch them off in settings. 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. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. 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. All rights reserved. All rights reserved. Construction on this project commenced in December 2019. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. 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.. 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. 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. The full details of our Gender Pay Gap Report 2018 can be found here. 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. In addition to the multi-year module sales agreement, First Solar also signed a memorandum of understanding (MoU) to explore opportunities to source electricity from generation assets developed, owned and operated by Lightsource bp in Ohio, where First Solar operates the Western Hemispheres largest solar manufacturing footprint. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 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. 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. The anniversary of BP's investment in Europe's largest solar developer is coinciding with its announcement of expansion into Brazil, the latest step in the company's growing global footprint As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europe's largest solar developer. With smaller pockets, comes a different approach. 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. We recognise that the rising need for energy must be met through sustainable sources. 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. We represent the opposite of that.. 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. 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,. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. Procurement agreement with US-based manufacturer. 2018, The BP partnership has definitely given our whole team confidence. What the two companies have in common is a shared ambition to accelerate the global low carbon transition.