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2023 Lightsource. 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 brand gives us a credibility that it would take 30 years to develop on our own. We are using cookies to give you the best experience on our website. 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. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. 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. 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. ()*, GBp With smaller pockets, comes a different approach. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. You can find out more about which cookies we are using or switch them off in settings. 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. 2023 Lightsource. Brooks has a Winston Churchill quote in mind: Now, this is not the end. 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 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. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. 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. BP are able to deliver more than just solar. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. are on pages 282-336. 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. The full details of our Gender Pay Gap Report 2018can be found here. ()*, GBp and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. Lightsource BP is a British company with headquarters in London, and offices in Madrid, Milan, Athens, San Francisco, Philadelphia, Mumbai, New Delhi, Cairo, Melbourne, Amsterdam, Bath, Belfast and Dublin. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. 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. 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. First Solar Investor Relations Lightsource and bp celebrate five-year anniversary Read story 01 Mar, 2023 Lightsource bp will promote the development of 19 solar projects, involving an investment of 1.2 billion Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. 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. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. We work with businesses and communities around the world to deliver low-carbon solar energy projects. 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. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. We believe that sustainability and social responsibility are crucial for long-term business success and this is embedded within our business model, holding us accountable to those principles. You've rejected analytics cookies. November:contracts are signed for 25MW of solar power in Western US. And the next big steps are bigger projects and more volume. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. Brazil is a massive market with huge potential. 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. investor@firstsolar.com After submitting your request, you will receive an activation email to the requested email address. Our team includes over 500 industry specialists, working across 15 countries. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. BP International Limited. 2023 Lightsource. Our success is built on more than just our solar projects. Our sector is fundamentally about financing. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. Together with our 50:50 joint venture partner bp, we are reimagining energy and enacting real change on the energy landscape, not just in the USA, but all over the world. 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. 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. 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. 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. 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. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. Choose a career where you are empowered to change the world! 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. 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. 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. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. High-grading our portfolio, lowering our emissions and driving returns. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. Lightsource and bp celebrate five-year anniversary. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. BP and Lightsource announced the partnership in December. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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 offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. If you experience any issues with this process, please contact us for further assistance. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. 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 Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. There is going to be a huge amount of capital flow into new business models, he predicts. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. We power businesses and communities across the US with clean and affordable energy solutions. You can find out more about which cookies we are using or switch them off in settings. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. *Market data delayed by 20 minutes. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana About bp As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. 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. 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. You must click the activation link in order to complete your subscription. 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. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. in 2001. 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. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. To obtain a hard printed copy of bps complete audited financial statements, free of charge, UK based investors should contact bp distribution services by clicking the link above or calling +44 (0)870 241 3269 or by emailing bpdistributionservices@bp.com. 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. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. (), USD 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 . In addition to its Ohio manufacturing facilities, First Solar also operates factories in Vietnam and Malaysia, and has previously announced plans to build a new 3.3GW factory in India that is expected to be commissioned in the second half of 2023. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. You've accepted analytics cookies. 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. 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. You can change your cookie settings at any time. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. Read more about supporting local communities, Procurement agreement with US-based manufacturer. Actual results may differ materially from those expressed in such statements depending on a variety of factors. A year ago, Lightsource was the established solar leader in Europe. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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 have always been driven, and our partnership with BP is a great enabler. 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. Our growth has been in maturing the organization and getting into a strong operating position for next year. 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. pdf / 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. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. 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 . 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. We know many ways in which to finance projects and understand the market for financing very differently.. The modules, scheduled. 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. (Loading)*. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. of 1 each. 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. 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. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. 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. You should not place undue reliance on these forward-looking statements. 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. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. Post Online Media. All rights reserved. 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. 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 Strategic report and the Directors report together include the management report required by DTR 4.1 of the UK Financial Conduct Authoritys Disclosure Guidance and Transparency Rules. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. Assist in contract negotiation and. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. In the US, the companys securities are traded on the New York Stock Exchange (NYSE) in the form of ADSs (see page 368 of the bp Annual Report and Form 20-F 2021 for more details) and in Germany in the form of a global depositary certificate representing bp ordinary shares traded on the Frankfurt, Hamburg and Dusseldorf Stock Exchanges. We power businesses and communities across the US with clean and affordable energy solutions. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Helge Lund, chair Chair's letter pdf / 264.7 KB (), 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 . GBp Sustainability is integrated into our business strategy and operating model at every level. All rights reserved. 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.