lightsource bp annual report lightsource bp annual report

Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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 release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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. 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. About First Solar, Inc. 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. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. 2.2 MB. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. Lightsource bp Renewable Energy Investments Limited. 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 RENEWABLE ENERGY INVESTMENTS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. We represent the opposite of that.. (Loading)*. 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. November:contracts are signed for 25MW of solar power in Western US. The parent company financial statements of BP p.l.c. 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. We power businesses and communities across the US with clean and affordable energy solutions. Our purpose is to deliver affordable and sustainable solar. 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. BP International Limited. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). Assist in contract negotiation and. 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. 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. We are using cookies to give you the best experience on our website. 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. 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. 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. We recognise that the rising need for energy must be met through sustainable sources. You should not place undue reliance on these forward-looking statements. 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. pdf / Our team includes over 500 industry specialists, working across 15 countries. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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. 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. 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. 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. 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. 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. About Lightsource bp November 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. 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. 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. 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. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. 2023 Lightsource. The modules, scheduled. The Material does not (i) form part of the bp Annual Report and, pdf / Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. As the first person on the ground when entering a new territory, he has found that, over the past year, the BP name has opened a lot of doors. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. See here for a complete list of exchanges and delays. 2023 Lightsource. 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. 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. 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. of 1 each. This website uses cookies so that we can provide you with the best user experience possible. 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. 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. 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. investor@firstsolar.com 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). 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. Brazil is a massive market with huge potential. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana 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. You've accepted analytics cookies. You can find out more about which cookies we are using or switch them off in settings. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. The Directors remuneration report is on pages 116-141. All rights reserved. 8.3 MB. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. 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. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. We power businesses and communities across the US with clean and affordable energy solutions. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. 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 . 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. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. 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. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. 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 companys primary share listing is the London Stock Exchange. The full details of our Gender Pay Gap Report 2018can be found here. Here are some examples of how we performed in 2021. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. Choose a career where you are empowered to change the world! 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. 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 . farmers and ranchers face increasing economic stress. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. Report this post Report Report. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Our success is built on more than just our solar projects. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. The 260-megawatt Impact . 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. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Construction on this project commenced in December 2019. (Loading), USD 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. Our employees are drivers of our success, as is our status as a fair employee with a track record of gender equity in hiring and compensation. ()*, GBp Post Online Media. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. You can find out more about which cookies we are using or switch them off in settings. 264.7 KB. As a business we care deeply about the impact of our projects, our culture and values, and our team members. Lightsource bp Renewable Energy Investments Limited. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. Contact info@lightsourcebp.com SOCIAL RESOURCES Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. We continue to grow teams, partnerships and projects throughout the world. 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. Earlier this year, First Solar announced that it will invest $680 million to expand Americas domestic PV solar manufacturing capacity by 3.3GW annually, by building its third US manufacturing facility, in Lake Township, Ohio. 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. 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. 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? Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Lightsource bp is an international solar business. 2018, The BP partnership has definitely given our whole team confidence. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. for the year ended 31 December 2021. 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. December 2022 marks five years since bp and Lightsource entered into a partnership to become Lightsource bp a 50:50 joint venture between the companies. *Market data delayed by 20 minutes. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. All rights reserved. We are using cookies to give you the best experience on our website. A year ago, Lightsource was the established solar leader in Europe. Lightsource bp pays for the first $800 of the monthly insurance premium. High-grading our portfolio, lowering our emissions and driving returns. This website uses cookies so that we can provide you with the best user experience possible. This is where we come in. 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. 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. If you experience any issues with this process, please contact us for further assistance. Brooks has a Winston Churchill quote in mind: Now, this is not the end. We use some essential cookies to make our services work. 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. Lightsource bp is a global leader with local impact. 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. 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. 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. Read more about supporting local communities, Procurement agreement with US-based manufacturer. bps finances are strong and resilient. Delivered by Investis. Where we refer to the company, we mean BP p.l.c. Actual results may differ materially from those expressed in such statements depending on a variety of factors. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Building scale with capital discipline and returns focus. 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. Delivered by Investis. We use cookies to collect and analyse information on our site's performance and to enable the site to function. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. About bp And the next big steps are bigger projects and more volume. (Loading)*. February 27, 2023. 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. 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. 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. 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. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. pdf / Lightsource bp Renewable Energy Investments Limited. You can sign up for additional alert options at any time. The great majority of this investment will fund Lightsource's. The BP partnership has definitely given our whole team confidence, Brooks says. Sustainability is integrated into our business strategy and operating model at every level. Lightsource bp is a global leader in utility-scale solar development and management. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. Back Submit . This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. 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. Group Results Fourth Quarter and Full Year 2019 Highlights. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. 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. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. Speaking about the future growth of Lightsource BP, Brooks says: Ive no doubt that we will be 10 to 15 times the size we are today in a decade. Dont underestimate the ambitions of the Lightsource BP team, he warns. New Mexico 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. 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. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. Modern Slavery And Human Trafficking Statement. All rights reserved. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. 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. 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. *Market data delayed by 20 minutes. Read story 28 Feb, 2023 Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. is the parent company of the bp group of companies. 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. After all, 2017 was also the year in which renewable power grew by almost 20% higher than the 10-year average led by solar energy. 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.