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. 260MW of affordable, clean and locally generated electricity for Texas communities. This is where we come in. 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. 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. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC, We Want to Help the World Reach Net Zero and Improve People's Lives, Reliance and BP Move Forward with Indian Fuels Partnership., BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components, Press Release by BP and Reliance Industries Limited, BP International Limited ANNUAL REPORT and FINANCIAL, In the Superior Court of the State of Delaware, 1 Complaint Against BP in Respect of Violations of the OECD Guidelines, Plaintiffs' Response in Opposition to BP Motion, Energy Transition: Evolution Or Revolution? *Market data delayed by 20 minutes. Choose a career where you are empowered to change the world! Assist in contract negotiation and. (Loading)*. 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. This website uses cookies so that we can provide you with the best user experience possible. Our purpose is to deliver affordable and sustainable solar. 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. 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. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. We are using cookies to give you the best experience on our website. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. Contact info@lightsourcebp.com SOCIAL RESOURCES 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. For more information, please visit www.firstsolar.com. (Loading), USD BP p.l.c. Lightsource bp Renewable Energy Investments Limited. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. "Reliability is super-important, too this is a young industry, so its like a gold rush, with new players coming into the market who want to flip things quickly. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Post Online Media. This website uses cookies so that we can provide you with the best user experience possible. 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. For more information please visit www.lightsourcebp.com. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. for the year ended 31 December 2021. 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. Construction on this project commenced in December 2019. Our success is built on more than just our solar projects. bps finances are strong and resilient. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). 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. 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. 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. 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. We have always been driven, and our partnership with BP is a great enabler. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. Legal notice in relation to the material on this page. 8.3 MB. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. Sustainability is integrated into our business strategy and operating model at every level. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. 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. Brazil is a massive market with huge potential. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. Our growth has been in maturing the organization and getting into a strong operating position for next year. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. 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. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. We continue to grow teams, partnerships and projects throughout the world. 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. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. You've rejected analytics cookies. 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. 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 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. Report this post Report Report. 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. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. As a leading global solar developer and bp partner, we are rapidly scaling-up to help meet the rising demand for reliable electricity, while supporting the global energy transition to net zero. 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 You should not place undue reliance on these forward-looking statements. All rights reserved. We work with businesses and communities around the world to deliver low-carbon solar energy projects. 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. 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. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. 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). 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 parent company financial statements of BP p.l.c. is the parent company of the bp group of companies. 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. 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. All rights reserved. 2023 Lightsource. 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. 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. ()*, GBp Choose a career where you are empowered to change the world! 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. You can find out more about which cookies we are using or switch them off in 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 . Find out more about how Lightsource bp works and operates and our partnership with bp. Discover how we are creating a positive impact across energy, the environment and our people. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. 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. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. After submitting your request, you will receive an activation email to the requested email address. 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. 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. 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. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. The Material may contain certain forward-looking statements, forecasts or projections with respect to the financial condition, results of operations and businesses of bp and certain of the plans and objectives of bp with respect to these items. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. At Lightsource BP we firmly believe in the importance of a diverse, supportive, equality-driven work force, and were proud of everything weve done to create one. 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.. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. 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. All quotes delayed a minimum of 15 minutes. This website uses cookies so that we can provide you with the best user experience possible. About First Solar, Inc. 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. *Market data delayed by 20 minutes. There is going to be a huge amount of capital flow into new business models, he predicts. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. 382.4 KB, pdf / The BP partnership has definitely given our whole team confidence, Brooks says. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. All rights reserved. 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. 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. 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. 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 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. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. Lightsource bp pays for the first $800 of the monthly insurance premium. pdf / BP and Lightsource announced the partnership in December. In a statement Thursday, Lightsource bp which oil. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. When I think about how weve grown as a company, its very, very different to just adding megawatts we have also added great talent and continued to mature and innovate for clients and other stakeholders to stay ahead of the competition, says Brooks. Oversee onboarding of new facilities. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. 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. And, if youre confident, you can put your head down and deliver. You can find out more about which cookies we are using or switch them off in settings. 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. investor@firstsolar.com With smaller pockets, comes a different approach. 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. 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. High-grading our portfolio, lowering our emissions and driving returns. 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 modules, scheduled. All rights reserved. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. We use some essential cookies to make our services work. 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. 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. Find out more about our sustainability strategy and initatives. We use cookies to collect and analyse information on our site's performance and to enable the site to function. 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.
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