lightsource bp annual report

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. Ordinary shares are ordinary fully paid shares in BP p.l.c. 2023 Lightsource. The BP partnership has definitely given our whole team confidence, Brooks says. Where we refer to the company, we mean BP p.l.c. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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 . November:expansion into Italy, Iberia and Brazil is announced. 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. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. As a business we care deeply about the impact of our projects, our culture and values, and our team members. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. Delivered by Investis. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED, for LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED (09494479), (of the document filed at Companies House), Companies House does not verify the accuracy of the information filed. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. Lightsource bp is a global leader in utility-scale solar development and management. This is exactly the type of energy we want to develop and deliver as we continue to build out our renewable pipeline and ultimately strengthen confidence in our target of delivering 20GW of developed renewables by 2025.. All rights reserved. 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. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. (Loading), USD 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. The anniversary of BP's investment in Europe's largest solar developer is coinciding with its announcement of expansion into Brazil, the latest step in the company's growing global footprint As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europe's largest solar developer. Our gigawatt-approach to solar provides many benefits to our partners worldwide by leveraging economies of scale, ethical and sustainable procurement, and continuous improvement on quality and efficiency. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Lightsource bp is a global solar leader and 50:50 JV partner with bp, working with utilities, businesses, local communities and governments to help meet the rising demand for affordable, reliable and sustainable energy. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. The Directors remuneration report is on pages 116-141. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. Our sector is fundamentally about financing. 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. 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. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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.. You've accepted analytics cookies. 8.3 MB. This website uses cookies so that we can provide you with the best user experience possible. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. 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. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. 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. 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. We are using cookies to give you the best experience on our website. We continue to grow teams, partnerships and projects throughout the world. Sustainability is at our core. 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. 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. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. 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. We know many ways in which to finance projects and understand the market for financing very differently.. 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? 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. Actual results may differ materially from those expressed in such statements depending on a variety of factors. 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 / 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. investor@firstsolar.com This website uses cookies so that we can provide you with the best user experience possible. 2023 Lightsource. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. We have always been driven, and our partnership with BP is a great enabler. 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. 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. of 1 each. The modules, scheduled. 382.4 KB, pdf / And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. 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. 264.7 KB. 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. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. We power businesses and communities across the US with clean and affordable energy solutions. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 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. Lightsource bp Renewable Energy Investments Limited. And, if youre confident, you can put your head down and deliver. bps finances are strong and resilient. You can find out more about which cookies we are using or switch them off in settings. 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. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. Lightsource BP, like rivals including Frances Total , sees further opportunities for profits from selling solar and wind power projects it had developed from early stages. 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. 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. pdf / (), USD 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. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. 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. We are using cookies to give you the best experience on our website. Read more about supporting local communities, Procurement agreement with US-based manufacturer. This website uses cookies so that we can provide you with the best user experience possible. For First Solar Investors (), USD Our team includes over 500 industry specialists, working across 15 countries. We recognise that the rising need for energy must be met through sustainable sources. 2.2 MB. 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. Brazil is a massive market with huge potential. It is just the start for us in Latin America, Souflis adds. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. All rights reserved. We are using cookies to give you the best experience on our website. You must click the activation link in order to complete your subscription. 2018, The BP partnership has definitely given our whole team confidence. bp acquired the projects as part of its net zero ambition and target to grow its net developed renewable generating capacity to 20GW by 2025 and 50GW by 2030. 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. November:contracts are signed for 25MW of solar power in Western US. 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. GBp What the two companies have in common is a shared ambition to accelerate the global low carbon transition. We use some essential cookies to make our services work. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. 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 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. *Market data delayed by 20 minutes. 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. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. See here for a complete list of exchanges and delays. Sustainability is integrated into our business strategy and operating model at every level. BP International Limited. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. 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. 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. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. First Solar Investor Relations 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. 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.

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