Our purpose is to deliver affordable and sustainable solar. Interview with Emilie Wangerman, Senior VP, Head of Business For First Solar Investors 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. 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. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). 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. We know many ways in which to finance projects and understand the market for financing very differently.. 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. 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. Doubling adjusted EBITDA, sustaining returns, focused on customers. Lightsource and bp celebrate five-year anniversary. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Lightsource bp is a global leader in utility-scale solar development and management. of 25 cents each. 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. For more information please visit www.lightsourcebp.com. 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. 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. Helge Lund, chair Chair's letter pdf / 264.7 KB of 1 each. The parent company financial statements of BP p.l.c. 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 their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. 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. It makes good business sense, too. We are using cookies to give you the best experience on our website. All rights reserved. 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. All rights reserved. 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. Back Submit . Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. After submitting your request, you will receive an activation email to the requested email address. Lightsource bp Financials | Craft.co This website uses cookies so that we can provide you with the best user experience possible. These factors include, but are not limited to, the matters discussed under the captions Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission. 2023 Lightsource. You can change your cookie settings at any time. (Loading)*. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. 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. 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. 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. 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. 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. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. ()*, GBp Home | Lightsource bp First Solar Investor Relations In just 11 months, the company has been awarded significant corporate power contracts in the US and Australia, entered the Egyptian energy market through a joint venture, and established a 500 million green energy infrastructure fund in India. We continue to grow teams, partnerships and projects throughout the world. *Market data delayed by 20 minutes. Read story 28 Feb, 2023 Lightsource bp hiring Manager, Storage Application in Denver, Minnesota We use cookies to collect and analyse information on our site's performance and to enable the site to function. Sustainability is integrated into our business strategy and operating model at every level. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. 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. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. The full details of our Gender Pay Gap Report 2018can be found here. 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. Lightsource bp is a global leader with local impact. 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. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . Find out more about our sustainability strategy and initatives. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Our team includes over 500 industry specialists, working across 15 countries. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Construction on this project commenced in December 2019. Find a career where youre valued, recognised as an individual, and working alongside people with a passion for a sustainable future. You can find out more about which cookies we are using or switch them off in settings. 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. 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. 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. 2.2 MB. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. BPs shares linger near 25-year lows after it halved its dividend in August. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. Our success is built on more than just our solar projects. 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. 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. is the parent company of the bp group of companies. You can find out more about which cookies we are using or switch them off in settings. 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. Senior Manager O&M, United States - Lightsource bp - LinkedIn 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. 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. Brooks has a Winston Churchill quote in mind: Now, this is not the end. 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. 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 using cookies to give you the best experience on our website. Here are some examples of how we performed in 2021. 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. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. 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. 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. 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. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. 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. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. Post Online Media. 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. We are using cookies to give you the best experience on our website. November Our growth has been in maturing the organization and getting into a strong operating position for next year. 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. 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 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. Our sector is fundamentally about financing. 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. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. 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. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. 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. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. Lightsource BP - Wikipedia Modern Slavery And Human Trafficking Statement. The former Goldman Sachs principal and investor went from finance to an operating business because: I have an enormous personal conviction about the energy transition and the ability to have a real impact.. 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.