You should not place undue reliance on these forward-looking statements. 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. If you experience any issues with this process, please contact us for further assistance. 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. Discover how we are creating a positive impact across energy, the environment and our people. In a statement Thursday, Lightsource bp which oil. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. 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. You must click the activation link in order to complete your subscription. 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. 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. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. (Loading), USD Lightsource and bp celebrate five-year anniversary. Building scale with capital discipline and returns focus. The ability to bring base load is something that a trading operation like BPs can deliver, Lightsource BP chief operating officer and co-founder Kareen Boutonnat said. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. We are using cookies to give you the best experience on our website. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. Ordinary shares are ordinary fully paid shares in BP p.l.c. 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 260-megawatt Impact . 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. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. Our success is built on more than just our solar projects. We continue to grow teams, partnerships and projects throughout the world. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Actual results may differ materially from those expressed in such statements depending on a variety of factors. 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. Choose a career where you are empowered to change the world! Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana About First Solar, Inc. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. 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. We are making substantial progress on our strategy to pivot from an international oil company to an integrated energy company. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. 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. GBp 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. "Reliability is super-important, too this is a young industry, so its like a gold rush, with new players coming into the market who want to flip things quickly. 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. A year ago, Lightsource was the established solar leader in Europe. 8.3 MB. You can find out more about which cookies we are using or switch them off in settings. Lightsource bp Renewable Energy Investments Limited. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. 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. 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. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. For First Solar Investors What the two companies have in common is a shared ambition to accelerate the global low carbon transition. From innovative technology, to boosting biodiversity and protecting bees, discover how our solar projects are making a difference. 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. We recognise that the rising need for energy must be met through sustainable sources. 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. solar projects developed worldwide to date, US solar projects in construction or operations, USD project financing raised in the US since 2019, Executed US power contracts with clients in 11 states. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. All rights reserved. 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. We believe that sustainability and social responsibility are crucial for long-term business success and this is embedded within our business model, holding us accountable to those principles. Home, Britoil, Lightsource BP, Llandarcy. farmers and ranchers face increasing economic stress. 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. 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. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. Read story 28 Feb, 2023 are on pages 282-336. Our purpose is to deliver affordable and sustainable solar. 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. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. 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, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. 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. You can sign up for additional alert options at any time. 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. 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. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. 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. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. See here for a complete list of exchanges and delays. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. (), USD 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. 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 International Limited. ()*, GBp 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. 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. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. 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. 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. 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. 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. First Solar Investor Relations 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. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. Back Submit . You've accepted analytics cookies. Modern Slavery And Human Trafficking Statement. You can find out more about which cookies we are using or switch them off in settings. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. Sustainability is at our core. The company was incorporated in 1909 in England and Wales and changed its name to BP p.l.c. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 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. Lightsource bp Renewable Energy Investments Limited. 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. We work with businesses and communities around the world to deliver low-carbon solar energy projects. Lightsource bp is a global leader in utility-scale solar development and management. As a business we care deeply about the impact of our projects, our culture and values, and our team members. 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. We use cookies to make our services work and collect analytics information. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. We provide full scope development for our projects, from initial site selection, financing and permitting through to long-term management of solar projects and power sales to our clients. (Loading)*. This is where we come in. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF).