Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 About First Solar, Inc. 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. Delivered by Investis. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. 2.2 MB. Lightsource bp Renewable Energy Investments Limited. 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. (Loading)*. We have always been driven, and our partnership with BP is a great enabler. 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. 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. 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. This website uses cookies so that we can provide you with the best user experience possible. We recognise that the rising need for energy must be met through sustainable sources. We know many ways in which to finance projects and understand the market for financing very differently.. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. 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. Assist in contract negotiation and. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. All rights reserved. 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. are on pages 282-336. 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. 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,. Helge Lund, chair Chair's letter pdf / 264.7 KB From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. 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. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Sustainability is at our core. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. 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. BP and Lightsource announced the partnership in December. 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. 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. You can find out more about which cookies we are using or switch them off in settings. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. 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. 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? in 2001. BP International Limited. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . 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. Read more about supporting local communities, Procurement agreement with US-based manufacturer. November:contracts are signed for 25MW of solar power in Western US. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. (), USD 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. All rights reserved. You've rejected analytics cookies. *Market data delayed by 20 minutes. 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. Building scale with capital discipline and returns focus. 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. 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. 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. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. We are using cookies to give you the best experience on our website. The full details of our Gender Pay Gap Report 2018 can be found here. Sustainability is integrated into our business strategy and operating model at every level. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. Lightsource bp Renewable Energy Investments Limited. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Lightsource bp is an international solar business. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. We use cookies to make our services work and collect analytics information. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. 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. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. We are using cookies to give you the best experience on our website. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. Our purpose is to deliver affordable and sustainable solar. Lightsource BP, rebranded from Lightsource Renewable Energy in 2018, is the largest solar developer in Europe, and third largest in the world outside of China. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. (), USD See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. Where we refer to the company, we mean BP p.l.c. *Market data delayed by 20 minutes. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. GBp 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). You can change your cookie settings at any time. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. You can find out more about which cookies we are using or switch them off in settings. November:expansion into Italy, Iberia and Brazil is announced. 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. 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 . 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. All rights reserved. Brooks has a Winston Churchill quote in mind: Now, this is not the end. Construction on this project commenced in December 2019. Oversee onboarding of new facilities. 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. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. 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. The modules, scheduled. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. We are using cookies to give you the best experience on our website. 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. 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. The Material does not (i) form part of the bp Annual Report and, pdf / This website uses cookies so that we can provide you with the best user experience possible. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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. That's enough to power approximately 86,000 homes in New South Wales. You should not place undue reliance on these forward-looking statements. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. ()*, GBp 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. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. 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. 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. 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. 264.7 KB. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 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. The companys primary share listing is the London Stock Exchange. It makes good business sense, too. 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 are using cookies to give you the best experience on our website. Read story Prev 1 2 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. Our Standards: The Thomson Reuters Trust Principles. 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. 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. 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 projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. Partnerships are a key part of our approach, enabling better and faster utilization of our network. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. You've accepted analytics cookies. 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. We work with businesses and communities around the world to deliver low-carbon solar energy projects. 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. 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. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. For more information please visit www.lightsourcebp.com. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. 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. bps finances are strong and resilient. For First Solar Investors 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. 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 . Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana You can find out more about which cookies we are using or switch them off in settings. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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. 260MW of affordable, clean and locally generated electricity for Texas communities. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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. As part of the deal, Lightsource bp and bp have placed firm orders for approximately 4.4GWDC of modules, with options for an additional 1GWDC. 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 project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 2023 Lightsource. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed.