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. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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. 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. This website uses cookies so that we can provide you with the best user experience possible. The full details of our Gender Pay Gap Report 2018can be found here. 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. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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. All rights reserved. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Lightsource bp Renewable Energy Investments Limited. The company and each of its subsidiaries are separate legal entities. With smaller pockets, comes a different approach. 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 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. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. Find out more about how Lightsource bp works and operates and our partnership with bp. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. 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 We work with businesses and communities around the world to deliver low-carbon solar energy projects. 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 / Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. For First Solar Investors 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. Our sector is fundamentally about financing. You can change your cookie settings at any time. 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.. 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. 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. The modules, scheduled. 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. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. Every region receives a tailored approach and is managed by a local team. BP International Limited. Construction on this project commenced in December 2019. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. The Directors remuneration report is on pages 116-141. 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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. We are using cookies to give you the best experience on our website. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. 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). 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. 2023 Lightsource. Choose a career where you are empowered to change the world! The Material does not (i) form part of the bp Annual Report and, pdf / Lightsource bp is a global leader with local impact. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. 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. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. Will stimulate local economy by bringing an estimated $30 million in new revenue to the . Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. Building scale with capital discipline and returns focus. 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. 2023 Lightsource. Discover how we are creating a positive impact across energy, the environment and our people. We use cookies to collect and analyse information on our site's performance and to enable the site to function. 2023 Lightsource. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. It is not even the beginning of the end. 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. Procurement agreement with US-based manufacturer. 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. Lightsource and bp celebrate five-year anniversary. 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. 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. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. 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. (), USD 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. BP and Lightsource announced the partnership in December. BP are able to deliver more than just solar. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. This website uses cookies so that we can provide you with the best user experience possible. 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. Group Results Fourth Quarter and Full Year 2019 Highlights. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. You can find out more about which cookies we are using or switch them off in settings. 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. We use some essential cookies to make our services work. Where we refer to the company, we mean BP p.l.c. *Market data delayed by 20 minutes. For more information on bp in the US, visit www.bp.com/us. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. This is where we come in. 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 . But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. of 25 cents each. About First Solar, Inc. 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. Our purpose is to deliver affordable and sustainable solar. All rights reserved. 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. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. 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. 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. 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. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. November:contracts are signed for 25MW of solar power in Western US. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. 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. There is going to be a huge amount of capital flow into new business models, he predicts. 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. Our growth has been in maturing the organization and getting into a strong operating position for next year. We use cookies to make our services work and collect analytics information. Lightsource bp is a global leader in utility-scale solar development and management. 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. 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. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. 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. 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. We are using cookies to give you the best experience on our website. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. 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. Find out more about our sustainability strategy and initatives. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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. Lightsource bp is an international solar business. You should not place undue reliance on these forward-looking statements. We are using cookies to give you the best experience on our website. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. *Market data delayed by 20 minutes. 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. 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. 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.. 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. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. 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. ()*, GBp (Loading)*. 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. for the year ended 31 December 2021. Our success is built on more than just our solar projects. This website uses cookies so that we can provide you with the best user experience possible. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. We use cookies to collect and analyse information on our site's performance and to enable the site to function. 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. 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. You can find out more about which cookies we are using or switch them off in settings. 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. If you experience any issues with this process, please contact us for further assistance. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. You've rejected analytics cookies. 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. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. Lightsource bp is an international solar business. We power businesses and communities across the US with clean and affordable energy solutions. farmers and ranchers face increasing economic stress. It makes good business sense, too. At Lightsource bp, weve been developing utility-scale solar projects since 2010. Choose a career where you are empowered to change the world! bps finances are strong and resilient. Read story 28 Feb, 2023 investor@firstsolar.com 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. 2018, The BP partnership has definitely given our whole team confidence. 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? 8.3 MB. 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. Actual results may differ materially from those expressed in such statements depending on a variety of factors. (Loading), USD Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. The brand gives us a credibility that it would take 30 years to develop on our own. 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. 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. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. And Lightsource, formed in 2010, also brings something distinctive to the table: a different perspective on individual project and portfolio financing, according to Brooks. (Loading)*. 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. You've accepted analytics cookies. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). 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. GBp Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. The 260-megawatt Impact . But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. Modern Slavery And Human Trafficking Statement. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. Our sustainability framework shows how were decarbonising the worlds energy landscape through responsibly developed solar projects. 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. 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. 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. Here are some examples of how we performed in 2021. 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. The BP partnership has definitely given our whole team confidence, Brooks says. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. Read story Prev 1 2 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. LSbp's first site produced just 0.7 megawatts (MW) of solar power. BPs shares linger near 25-year lows after it halved its dividend in August. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . We power businesses and communities across the US with clean and affordable energy solutions. 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,. Unless otherwise stated or the context otherwise requires, the term BP or "bp" and terms such as we, us and our are used for convenience to refer to one or more of the members of the bp group instead of identifying a particular entity or entities. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. 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. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. The Directors statements (comprising the Statement of directors responsibilities; Risk management and internal control; Longer-term viability; Going concern; and Fair, balanced and understandable), the independent auditors report on the annual report and accounts to the members of BP p.l.c., the parent company financial statements of BP p.l.c. 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. 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. 382.4 KB, pdf / Brazil is a massive market with huge potential. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. 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. Earlier this year, First Solar announced that it will invest $680 million to expand Americas domestic PV solar manufacturing capacity by 3.3GW annually, by building its third US manufacturing facility, in Lake Township, Ohio. 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? 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. The parent company financial statements of BP p.l.c. of 1 each. 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. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. 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. First Solar Investor Relations 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. Brooks has a Winston Churchill quote in mind: Now, this is not the end. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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.
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