lightsource bp annual report lightsource bp annual report

This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. GBp 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. First Solar Investor Relations 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. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. 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. 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. 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. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. After submitting your request, you will receive an activation email to the requested email address. 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. In order to advance our purpose and ambition, we have identified three strategic focus areas, and weve set targets and aims against these out to 2025 and 2030. Lightsource BP is a British company with headquarters in London, and offices in Madrid, Milan, Athens, San Francisco, Philadelphia, Mumbai, New Delhi, Cairo, Melbourne, Amsterdam, Bath, Belfast and Dublin. ()*, GBp , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 2023 Lightsource. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. All rights reserved. We use cookies to collect and analyse information on our site's performance and to enable the site to function. In a statement Thursday, Lightsource bp which oil. BP Annual Report and Form 20-F 2018 Scoping Our Scope Covered 136 Components; Governance Report 2020 Pdf / 2.2 MB; . Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. About Lightsource bp Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. High-grading our portfolio, lowering our emissions and driving returns. The great majority of this investment will fund Lightsource's. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. 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. 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. 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. 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. Lightsource bp is a global leader in utility-scale solar development and management. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. 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. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. See here for a complete list of exchanges and delays. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. 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)*. Procurement agreement with US-based manufacturer. 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. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. 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? Despite this years impressive results, were not complacent well continue working hard to make sure that equality and fairness is at the heart of our company policies and practices. 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. 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. You can find out more about which cookies we are using or switch them off in settings. Delivered by Investis. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All rights reserved. Building scale with capital discipline and returns focus. 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. 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. November:expansion into Italy, Iberia and Brazil is announced. 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. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. Post Online Media. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. About First Solar, Inc. 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. A year ago, Lightsource was the established solar leader in Europe. 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. 2023 Lightsource. Read story 28 Feb, 2023 Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 2.2 MB. We continue to grow teams, partnerships and projects throughout the world. 2023 Lightsource. You should not place undue reliance on these forward-looking statements. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. BP p.l.c. And, if youre confident, you can put your head down and deliver. 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. Even better, solar shepherds are fighting climate change and promoting healthy landscapes while they maintain vegetation under and around the solar panels. It is not even the beginning of the end. 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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. 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. 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. At Lightsource bp, weve been developing utility-scale solar projects since 2010. 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). 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. The BP partnership has definitely given our whole team confidence, Brooks says. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. 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. 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. *Market data delayed by 20 minutes. 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. It makes good business sense, too. 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. 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 . 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. 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. farmers and ranchers face increasing economic stress. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. We are using cookies to give you the best experience on our website. November:contracts are signed for 25MW of solar power in Western US. 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. As a business we care deeply about the impact of our projects, our culture and values, and our team members. Assist in contract negotiation and. Read story Prev 1 2 BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. This website uses cookies so that we can provide you with the best user experience possible. You can find out more about which cookies we are using or switch them off in settings. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. (), USD 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. The goal was to take the UK-based business global and, one year on, the Lightsource BP partnership has more than doubled its footprint around the world and has just announced a move into renewables-friendly Brazil, where the market potential for solar is huge. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 2023 Lightsource. 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. 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. Lightsource and bp celebrate five-year anniversary. 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? This website uses cookies so that we can provide you with the best user experience possible. 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. We use cookies to collect and analyse information on our site's performance and to enable the site to function. Our Standards: The Thomson Reuters Trust Principles. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. 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. of 1 each. Lightsource bp is a global leader with local impact. In the US, the companys securities are traded on the New York Stock Exchange (NYSE) in the form of ADSs (see page 368 of the bp Annual Report and Form 20-F 2021 for more details) and in Germany in the form of a global depositary certificate representing bp ordinary shares traded on the Frankfurt, Hamburg and Dusseldorf Stock Exchanges. Brooks has a Winston Churchill quote in mind: Now, this is not the end. You've rejected analytics cookies.