Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana A year ago, Lightsource was the established solar leader in Europe. 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. 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. 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. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. 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. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. 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. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. This website uses cookies so that we can provide you with the best user experience possible. Lightsource bp Renewable Energy Semiconductor Manufacturing . You can sign up for additional alert options at any time. *Market data delayed by 20 minutes. Delivered by Investis. 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. (Loading), USD Home - Lightsource bp Back Submit . Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. Read story Prev 1 2 Lightsource BP - Wikipedia ()*, GBp 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. The BP partnership has definitely given our whole team confidence, Brooks says. Lightsource bp Renewable Energy Investments Limited. Post Online Media. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. 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. Developed at R&D labs in California and Ohio, the companys advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. All rights reserved. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. After submitting your request, you will receive an activation email to the requested email address. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. Here are some examples of how we performed in 2021. 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. 'Terawatts mindset' as Lightsource BP bags $1.8bn to double solar 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. 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. The full details of our Gender Pay Gap Report 2018 can be found here. 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. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. 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. 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. 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. 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. 2023 Lightsource. 2023 Lightsource. You can find out more about which cookies we are using or switch them off in settings. We are using cookies to give you the best experience on our website. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. (), USD 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. 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. We have always been driven, and our partnership with BP is a great enabler. You can find out more about which cookies we are using or switch them off in settings. Modern Slavery And Human Trafficking Statement. Choose a career where you are empowered to change the world! BP and Lightsource announced the partnership in December. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. We know many ways in which to finance projects and understand the market for financing very differently.. 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. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. The great majority of this investment will fund Lightsource's. 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. 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 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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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 . We work with businesses and communities around the world to deliver low-carbon solar energy projects. With smaller pockets, comes a different approach. 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. Sustainability is integrated into our business strategy and operating model at every level. We are using cookies to give you the best experience on our website. Lightsource bp is a global leader with local impact. 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. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. 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. 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. 264.7 KB. 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. If you experience any issues with this process, please contact us for further assistance. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. (Loading)*. Read more about supporting local communities, Procurement agreement with US-based manufacturer. Solar projects already meet BP's profit goals, Lightsource BP says High-grading our portfolio, lowering our emissions and driving returns. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. Report this post Report Report. 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. This is where we come in. Weve just released our second annual Gender Pay Gap Report, which covers our gender differences in terms of population, pay and bonus levels from March 2017 to March 2018. 'The potential for solar is huge': future looks bright for Lightsource BP May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. 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. At Lightsource bp, weve been developing utility-scale solar projects since 2010. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. The Directors remuneration report is on pages 116-141. Our purpose is to deliver affordable and sustainable solar. For First Solar Investors 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. 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. The companys primary share listing is the London Stock Exchange. Our team includes over 500 industry specialists, working across 15 countries. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. 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. is the parent company of the bp group of companies. 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. Lightsource bp Renewable Energy Investments Limited. All rights reserved. We are using cookies to give you the best experience on our website. BP are able to deliver more than just solar. 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. of 25 cents each. 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. investor@firstsolar.com The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. 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 November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. Lightsource bp hiring Manager, Storage Application in Denver, Minnesota BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. Our Standards: The Thomson Reuters Trust Principles. We use cookies to collect and analyse information on our site's performance and to enable the site to function. BP returns to solar with investment in Lightsource | Reuters 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. 260MW of affordable, clean and locally generated electricity for Texas communities. Lightsource bp turns 10 | News and insights | Home 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. 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. 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. 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.
