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. 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. Solar-powered steel production from Lightsource bp's Bighorn Project in 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 . 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. 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. November:contracts are signed for 25MW of solar power in Western US. 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. 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. This website uses cookies so that we can provide you with the best user experience possible. Doubling adjusted EBITDA, sustaining returns, focused on customers. Global leader in responsible solar development | Lightsource bp US Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. Lightsource bp Closes Financing Package and Mobilizes Construction on 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. 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. The term shareholder in the bp Annual Report and Form 20-F 2021 means, unless the context otherwise requires, investors in the equity capital of BP p.l.c., both direct and indirect. 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. The deal on the Lightsource deal | News and insights | Home - bp global This is where we come in. 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. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. BP are able to deliver more than just solar. 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. The BP partnership has definitely given our whole team confidence, Brooks says. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. Our team includes over 500 industry specialists, working across 15 countries. Home | Lightsource bp 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.. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. 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. All rights reserved. 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. 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? 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. 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 should not place undue reliance on these forward-looking statements. *Market data delayed by 20 minutes. Lightsource bp Renewable Energy Investments Limited. Legal notice in relation to the material on this page. About Lightsource bp Lightsource and bp celebrate five-year anniversary. Lightsource bp and bp Sign Multi-Year Agreement for up to 5 - Yahoo! Discover how we are creating a positive impact across energy, the environment and our people. (Loading)*. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. 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. Lightsource bp Financials | Craft.co 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. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. 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. 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. This website uses cookies so that we can provide you with the best user experience possible. We represent the opposite of that.. Ordinary shares are ordinary fully paid shares in 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. Annual report | Investors | Home - bp global 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. 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. 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. 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. 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 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. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. 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. Lightsource bp is an international solar business. Senior Manager O&M, United States - Lightsource bp - LinkedIn The full details of our Gender Pay Gap Report 2018can be found here. (Loading)*. 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. 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. Post Online Media. It makes good business sense, too. Assist in contract negotiation and. 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. 8.3 MB. Lightsource bp is an international solar business. 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 Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. Lightsource bp gets financing for massive Pointe - Business Report Delivered by Investis. 2005 BP Alternative Energy Is Launched, from the Deep Sea to the Desert, from Rigs to Retail, Charging Company, Energy with Purpose Means Helping the World Reach Net Zero, BP Plc Group Results Second Quarter and Half Year 2020(A), Exxon Mobil Corp., Exxonmobil Oil Index No, The Forces Maintaining Fossil Fuel Dependence in the Age of Electric, Financial Institutions with a Full Business Law Service, BP P.L.C. 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. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. BPs shares linger near 25-year lows after it halved its dividend in August. All rights reserved. For more information, please visit www.firstsolar.com. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. Lightsource Bp Renewable Energy Investments Limited And the next big steps are bigger projects and more volume. February 27, 2023. 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. 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. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. All quotes delayed a minimum of 15 minutes. 2023 Lightsource. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 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. 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. November 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. First Solar Investor Relations BATON ROUGE, La.-- ( BUSINESS WIRE )--Lightsource bp has successfully closed on a $533 million multi-project financing package and mobilized construction on its 345 megawatt (dc) Ventress Solar. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. BP p.l.c. 'Terawatts mindset' as Lightsource BP bags $1.8bn to double solar Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. BP <BP.L> is getting back into solar power six years after its first, failed foray, with a $200 million investment in solar generator Lightsource that the oil and gas firm expects will deliver . We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Lightsource bp and bp Sign Multi-Year Agreement for up to 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.