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 know many ways in which to finance projects and understand the market for financing very differently.. [email protected] 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. 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. 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. Post Online Media. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. Lightsource bp Renewable Energy Investments Limited. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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 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 represent the opposite of that.. 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 . 2023 Lightsource. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. A year ago, Lightsource was the established solar leader in Europe. We work with businesses and communities around the world to deliver low-carbon solar energy projects. 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. Here are some examples of how we performed in 2021. for the year ended 31 December 2021. The company and each of its subsidiaries are separate legal entities. 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. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates. 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. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Lightsource bp is a global leader in utility-scale solar development and management. You've accepted analytics cookies. 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. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. Since late 2017, the team has developed a pipeline of more than 10 gigawatts of large-scale solar projects at various stages of development across the United States with over 2.8 gigawatts of contracted assets with clients in 11 states representing more than $2.3 billion in expected investment. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. Our Standards: The Thomson Reuters Trust Principles. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. This website uses cookies so that we can provide you with the best user experience possible. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. We are using cookies to give you the best experience on our website. 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. Brooks has a Winston Churchill quote in mind: Now, this is not the end. 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. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. GBp Lightsource bp pays for the first $800 of the monthly insurance premium. 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. 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 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. 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. 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. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout 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.. 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 modules, scheduled. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. Discover how we are creating a positive impact across energy, the environment and our people. About bp We use some essential cookies to make our services work. bps finances are strong and resilient. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. Find out more about our sustainability strategy and initatives. You should not place undue reliance on these forward-looking statements. 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 . Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. Oversee onboarding of new facilities. 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. Group Results Fourth Quarter and Full Year 2019 Highlights. There is going to be a huge amount of capital flow into new business models, he predicts. Lightsource and bp celebrate five-year anniversary. 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. 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. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. Lightsource bp Renewable Energy Investments Limited. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. (), USD London-based Lightsource BP, which is half-owned by oil major BP and will mark its 10th anniversary later this year, has rapidly grown around the world in recent years and aims to reach 10 gigawatt (GW) of solar capacity by 2023 from a current 2 GW . 264.7 KB. Read more about supporting local communities, Procurement agreement with US-based manufacturer. 2023 Lightsource. 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. (Loading)*. BPs shares linger near 25-year lows after it halved its dividend in August. The great majority of this investment will fund Lightsource's. 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. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. 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. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. 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. You've rejected analytics cookies. We use cookies to make our services work and collect analytics information. Our success is built on more than just our solar projects. 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. 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. 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. We power businesses and communities across the US with clean and affordable energy solutions. You can change your cookie settings at any time. 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. 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. Sustainability is integrated into our business strategy and operating model at every level. 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,. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 The full details of our Gender Pay Gap Report 2018can be found here. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. All rights reserved. This website uses cookies so that we can provide you with the best user experience possible. 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 What the two companies have in common is a shared ambition to accelerate the global low carbon transition. 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 . Delivered by Investis. 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. *Market data delayed by 20 minutes. Procurement agreement with US-based manufacturer. Please refer to the Cautionary statement on page 364 of the full bp Annual Report and Form 20-F 2021 for further information on forward-looking statements. 2005 BP Alternative Energy Is Launched, from the Deep Sea to the Desert, from Rigs to Retail, Charging Company, Energy with Purpose Means Helping the World Reach Net Zero, BP Plc Group Results Second Quarter and Half Year 2020(A), Exxon Mobil Corp., Exxonmobil Oil Index No, The Forces Maintaining Fossil Fuel Dependence in the Age of Electric, Financial Institutions with a Full Business Law Service, BP P.L.C. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing [email protected]. 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. 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. The brand gives us a credibility that it would take 30 years to develop on our own. Doubling adjusted EBITDA, sustaining returns, focused on customers. 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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo.