May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. 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. * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. BP p.l.c. 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. 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. Lightsource bp pays for the first $800 of the monthly insurance premium. High-grading our portfolio, lowering our emissions and driving returns. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. and corresponding auditors report do not form part of bps Annual Report on Form 20-F as filed with the SEC. All rights reserved. We represent the opposite of that.. Since 2010, weve provided sustainable and affordable energy to businesses and communities throughout the UK. Lightsource bp is a global leader with local impact. BPs shares linger near 25-year lows after it halved its dividend in August. GBp 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. Find out more about us and how were working together to create a sustainable energy future for us all. 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. 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. Assist in contract negotiation and. 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 is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. We work with businesses and communities around the world to deliver low-carbon solar energy projects. Our Standards: The Thomson Reuters Trust Principles. 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 Renewable Energy Investments Limited. (), USD The consolidated financial statements of the group are on pages 145-253 and the corresponding reports of the auditor are on pages 146-172. 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. Were delighted that bp and Lightsource bp have placed their trust in us and our technology to help power their growth in the United States.. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. All rights reserved. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. We have always been driven, and our partnership with BP is a great enabler. 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. About First Solar, Inc. Lightsource bp Renewable Energy Semiconductor Manufacturing . 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. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. Lightsource bp announces the appointment of Miguel Fernandez Hortelano as Group Head of Risk and Energy Markets. 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. 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. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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. Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. Post Online Media. Brazil has all the hallmarks of a country in which Lightsource BP can thrive. which is equivalent to the annual demand of approximately 36,000 New Zealand homes. November:expansion into Italy, Iberia and Brazil is announced. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. Legal notice in relation to the material on this page. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. Report this post Report Report. 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. 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. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. BP and Lightsource announced the partnership in December. LONDON, Oct 22 (Reuters) - Solar power developer Lightsource BP has generated returns of 10% and more on projects, its chief executive told Reuters as investors fret over joint owner BPs plan to switch away from oil and gas to renewables. 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. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. 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. This is where we come in. Modern Slavery And Human Trafficking Statement. The full details of our Gender Pay Gap Report 2018can be found here. London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . Helge Lund, chair Chair's letter pdf / 264.7 KB You could see more consolidation in the renewables industry through mergers and acquisitions., 28 Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. 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. About bp For more information, please visit www.firstsolar.com. We recognise that the rising need for energy must be met through sustainable sources. The team is keen to get started in a country where solar is currently heavily underrepresented in the power generation mix but provides a cheaper, flexible, quick-to-deploy energy option that can be placed close to where the demand is. 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. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. 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. 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. The companys primary share listing is the London Stock Exchange. 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. 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. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. I joined when it was just six people huddled around two laptops, and from that first moment the ethos was clear, Lightsource bp, a global leader in the development and management of solar energy projects, today announced the sale of five utility scale solar photovoltaic (PV). 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. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. As a leading global solar developer and bp partner, we are rapidly scaling-up to help meet the rising demand for reliable electricity, while supporting the global energy transition to net zero. 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 . For more information on bp in the US, visit www.bp.com/us. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. 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 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. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. 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. You can sign up for additional alert options at any time. 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. Its recent list of new deals includes plans to leverage its expertise in developing innovative power purchase agreements (PPAs) in Iberia, for example. 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. Lightsource bp Renewable Energy Investments Limited. (), USD It makes good business sense, too. 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. This website uses cookies so that we can provide you with the best user experience possible. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. What the two companies have in common is a shared ambition to accelerate the global low carbon transition. 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. 2018, The BP partnership has definitely given our whole team confidence. 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. 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. The new facility is expected to be commissioned in the first half of 2023 and when fully operational will scale the companys Northwest Ohio footprint to a total annual capacity of 6GW, which is believed to make it the largest fully vertically integrated solar manufacturing complex outside of China. investor@firstsolar.com 2023 Lightsource. 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. This week SolarPower Europe released a follow-up interview with our Director of Environmental & Social Planning, Penny Laurenson. All rights reserved. (Loading), USD Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. Brazil is a massive market with huge potential. 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 and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Actual results may differ materially from those expressed in such statements depending on a variety of factors. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. You can find out more about which cookies we are using or switch them off in settings. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. 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. 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. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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, rebranded from Lightsource Renewable Energy in 2018, is the largest solar developer in Europe, and third largest in the world outside of China. 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. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. 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. You can find out more about which cookies we are using or switch them off in settings. The company and each of its subsidiaries are separate legal entities. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. For more information please visit www.lightsourcebp.com. Nick Boyle, the Lightsource BP chief executive, said that his business already sees returns targeted by BP. 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. 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. 2.2 MB. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. 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. By providing your email address below, you are providing consent to First Solar, Inc. to send you the requested Investor Email Alert updates.