lightsource bp annual report

of 1 each. 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. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. 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. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. 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 . Partnerships are a key part of our approach, enabling better and faster utilization of our network. 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. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. BPs shares linger near 25-year lows after it halved its dividend in August. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. Find out more about our sustainability strategy and initatives. We are using cookies to give you the best experience on our website. BP p.l.c. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. *Market data delayed by 20 minutes. The 260-megawatt Impact . BP and Lightsource announced the partnership in December. After submitting your request, you will receive an activation email to the requested email address. We power businesses and communities across the US with clean and affordable energy solutions. Choose a career where you are empowered to change the world! The parent company financial statements of BP p.l.c. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. Lightsource bp is a global leader in utility-scale solar development and management. 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. This website uses cookies so that we can provide you with the best user experience possible. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. 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 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. 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. 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. Our team includes over 500 industry specialists, working across 15 countries. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. Lightsource bp Renewable Energy Investments Limited. This website uses cookies so that we can provide you with the best user experience possible. 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 is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. We have always been driven, and our partnership with BP is a great enabler. BP are able to deliver more than just solar. 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? 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. 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 . Brooks has a Winston Churchill quote in mind: Now, this is not the end. 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. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing [email protected]. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Construction on this project commenced in December 2019. You must click the activation link in order to complete your subscription. 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. pdf / Read story Prev 1 2 The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. With First Solars expansion in the United States and India and optimization of its existing fleet, the company anticipates that its nameplate manufacturing capacity will double to 16GW by 2024. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. You can sign up for additional alert options at any time. Lightsource bp Renewable Energy Investments Limited. 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,. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. in 2001. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. Find out more about how Lightsource bp works and operates and our partnership with bp. 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. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. 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. 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. 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. 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. 264.7 KB. 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. 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. 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. 2023 Lightsource. Our growth has been in maturing the organization and getting into a strong operating position for next year. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. Where we refer to the company, we mean BP p.l.c. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. 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 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. 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? 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. All rights reserved. A year ago, Lightsource was the established solar leader in Europe. We power businesses and communities across the US with clean and affordable energy solutions. For more information, please visit www.firstsolar.com. Delivered by Investis. Every region receives a tailored approach and is managed by a local team. 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. 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. For First Solar Investors The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. All rights reserved. ()*, GBp 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. ()*, GBp 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. Lightsource bp pays for the first $800 of the monthly insurance premium. GBp The material on the bp Annual Report webpage (the Material) relates to the year ended 31 December 2021 and is provided for general information only. 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. 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. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. 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. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. It makes good business sense, too. 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. GBp If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing [email protected]. 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. 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. 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. 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. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. In a statement Thursday, Lightsource bp which oil. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. are on pages 282-336. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. 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. The companys primary share listing is the London Stock Exchange. The brand gives us a credibility that it would take 30 years to develop on our own. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. 260MW of affordable, clean and locally generated electricity for Texas communities. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. 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. for the year ended 31 December 2021. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. Actual results may differ materially from those expressed in such statements depending on a variety of factors. BP International Limited. 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. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. 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. Find out more about us and how were working together to create a sustainable energy future for us all. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. And the next big steps are bigger projects and more volume. Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. All rights reserved. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. 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. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Choose a career where you are empowered to change the world! 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 company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172.

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