Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. LSbp's first site produced just 0.7 megawatts (MW) of solar power. We know many ways in which to finance projects and understand the market for financing very differently.. Partnerships are a key part of our approach, enabling better and faster utilization of our network. 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 / 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. 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. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . What the two companies have in common is a shared ambition to accelerate the global low carbon transition. 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. Building scale with capital discipline and returns focus. You should not place undue reliance on these 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. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. 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. 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. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. For more information please visit www.lightsourcebp.com. 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. 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. 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. 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 ()*, GBp Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. You must click the activation link in order to complete your subscription. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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? Post Online Media. (Loading)*. 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. 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. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. 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. GBp 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. investor@firstsolar.com From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. 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. Read story 28 Feb, 2023 If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. ()*, GBp The full details of our Gender Pay Gap Report 2018can be found here. You can find out more about which cookies we are using or switch them off in settings. Our most recent Annual Report and Form 20-F is available on our website at www.bp.com, or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov SOURCE BP PLC . GBp BP and Lightsource announced the partnership in December. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. 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. First Solar Investor Relations Brooks has a Winston Churchill quote in mind: Now, this is not the end. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. 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. 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. It is just the start for us in Latin America, Souflis adds. 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. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. We continue to grow teams, partnerships and projects throughout the world. (Loading), USD 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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. February 27, 2023. As a business we care deeply about the impact of our projects, our culture and values, and our team members. The companys primary share listing is the London Stock Exchange. All rights reserved. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. *Market data delayed by 20 minutes. For First Solar Investors Will stimulate local economy by bringing an estimated $30 million in new revenue to the . 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. 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. 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. 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. All rights reserved. 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. 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. Oversee onboarding of new facilities. It makes good business sense, too. You can find out more about which cookies we are using or switch them off in settings. Were delighted that bp and Lightsource bp have placed their trust in us and our technology to help power their growth in the United States.. Doubling adjusted EBITDA, sustaining returns, focused on customers. All quotes delayed a minimum of 15 minutes. 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. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. The modules, scheduled. Find out more about our sustainability strategy and initatives. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. We use cookies to make our services work and collect analytics information. This website uses cookies so that we can provide you with the best user experience possible. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. November:expansion into Italy, Iberia and Brazil is announced. You've accepted analytics cookies. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. Our Standards: The Thomson Reuters Trust Principles. 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. 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 / *Market data delayed by 20 minutes. We are using cookies to give you the best experience on our website. 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. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana It is not even the beginning of the end. Our growth has been in maturing the organization and getting into a strong operating position for next year. But many BP investors have cast doubts over BPs vow that the renewables business could generate returns of 8% to 10%, higher than the sectors average of 5% to 6% in order to maintain and even grow shareholder payouts. 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. You can find out more about which cookies we are using or switch them off in settings. 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. We represent the opposite of that.. 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.
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