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. Find out more about us and how were working together to create a sustainable energy future for us all. 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. 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. are on pages 282-336. Sustainability is at our core. 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. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. Home, Britoil, Lightsource BP, Llandarcy. Helge Lund, chair Chair's letter pdf / 264.7 KB Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. A year ago, Lightsource was the established solar leader in Europe. The companys primary share listing is the London Stock Exchange. Sustainability is integrated into our business strategy and operating model at every level. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. 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. 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. Rachael will be responsible for Lightsource bps global procurement organisation including purchasing, supplier quality, and global supply chain strategy. 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. For more information on bp in the US, visit www.bp.com/us. Partnerships are a key part of our approach, enabling better and faster utilization of our network. 260MW of affordable, clean and locally generated electricity for Texas communities. Lightsource bp pays for the first $800 of the monthly insurance premium. 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. 382.4 KB, pdf / In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. You must click the activation link in order to complete your subscription. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. 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. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. Read more about supporting local communities, Procurement agreement with US-based manufacturer. Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. The brand gives us a credibility that it would take 30 years to develop on our own. 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. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. If you experience any issues with this process, please contact us for further assistance. We are using cookies to give you the best experience on our website. At Lightsource bp, weve been developing utility-scale solar projects since 2010. You can find out more about which cookies we are using or switch them off in settings. This website uses cookies so that we can provide you with the best user experience possible. bp acquired the projects as part of its net zero ambition and target to grow its net developed renewable generating capacity to 20GW by 2025 and 50GW by 2030. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. 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. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 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. We represent the opposite of that.. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. 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. February:a deal to build, own and operate the largest solar facility in Kansas, US, for the Mid Kansas Electric Company is signed. Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 2023 Lightsource. 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. 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. Advancing our sustainable future At Lightsource bp, we've been developing utility-scale solar projects since 2010. Lightsource and bp celebrate five-year anniversary. 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. "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. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. Weve made a number of new hires across the Group, and the number of women in higher paying roles has increased, which is something were very proud of. Annual report Performing while transforming Annual Report and Form 20-F 2021 pdf / 8.3 MB Strategy Business model Remuneration Key downloads 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. Report this post Report Report. There is going to be a huge amount of capital flow into new business models, he predicts. You can find out more about which cookies we are using or switch them off in settings. Every region receives a tailored approach and is managed by a local team. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. 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 . 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. 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. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. 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. With smaller pockets, comes a different approach. 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. Modern Slavery And Human Trafficking Statement. 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. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. The company and each of its subsidiaries are separate legal entities. We work with businesses and communities around the world to deliver low-carbon solar energy projects. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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. 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. ()*, GBp Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. This website uses cookies so that we can provide you with the best user experience possible. 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. You should not place undue reliance on these forward-looking statements. (Loading), USD 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. TEMPE, Ariz., Nov. 22, 2021 (GLOBE NEWSWIRE) -- First Solar, Inc. (Nasdaq: FSLR) today announced that global solar leader Lightsource bp and integrated energy company bp have placed multi-year orders for up to 5.4 gigawatts (GW) combined of First Solars advanced, ultra-low carbon thin film photovoltaic (PV) solar modules. 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. All rights reserved. It is just the start for us in Latin America, Souflis adds. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Legal notice in relation to the material on this page. 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. Read story 28 Feb, 2023 Here are some examples of how we performed in 2021. This website uses cookies so that we can provide you with the best user experience possible. 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. Lightsource bp is an international solar business. of 1 each. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. All rights reserved. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. 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). 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. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. 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. 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. July:announces Egypt market entry through a JV with Hassan Allam Utilities, one of the largest Egyptian construction firms. Where we refer to the company, we mean BP p.l.c. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. 2023 Lightsource. Construction on this project commenced in December 2019. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. 2023 Lightsource. 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. 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. The full details of our Gender Pay Gap Report 2018 can be found here. 2.2 MB. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. These provide the basis for a common set of enduring objectives for bp as we transform the organization consistent with the long-term energy transition. 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 part of the deal, Lightsource bp and bp have placed firm orders for approximately 4.4GWDC of modules, with options for an additional 1GWDC. 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. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. We are using cookies to give you the best experience on our website. All rights reserved. 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. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. ()*, GBp Ordinary shares are ordinary fully paid shares in BP p.l.c. Lightsource bp is a global leader in utility-scale solar development and management. 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. 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. in 2001. Choose a career where you are empowered to change the world! Our purpose is to deliver affordable and sustainable solar. 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. 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,. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. GBp In a statement Thursday, Lightsource bp which oil. for the year ended 31 December 2021. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. 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. 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. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. The full details of our Gender Pay Gap Report 2018can be found here. 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 Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. 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.