Choose a career where you are empowered to change the world! All rights reserved. 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.. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. The BP partnership has definitely given our whole team confidence, Brooks says. The brand gives us a credibility that it would take 30 years to develop on our own. We use cookies to make our services work and collect analytics information. Under the agreement, First Solar has firm orders for 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025. 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? Find out more about how Lightsource bp works and operates and our partnership with bp. Read story 28 Feb, 2023 What the two companies have in common is a shared ambition to accelerate the global low carbon transition. 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. 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. 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. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. 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. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. The modules, scheduled. This is exactly the type of energy we want to develop and deliver as we continue to build out our renewable pipeline and ultimately strengthen confidence in our target of delivering 20GW of developed renewables by 2025.. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. of 1 each. 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. This website uses cookies so that we can provide you with the best user experience possible. This website uses cookies so that we can provide you with the best user experience possible. Our team includes over 500 industry specialists, working across 15 countries. 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. 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. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. Lightsource bp offers comprehensive third-party O&M services, covering all aspects of solar operations and maintenance. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. Our growth has been in maturing the organization and getting into a strong operating position for next year. 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. 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. 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. 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. This website uses cookies so that we can provide you with the best user experience possible. (Loading)*. Group Results Fourth Quarter and Full Year 2019 Highlights. The companys primary share listing is the London Stock Exchange. 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. You can change your cookie settings at any time. ()*, GBp 2023 Lightsource. 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. 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. 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. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. We power businesses and communities across the US with clean and affordable energy solutions. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. 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. (Loading), USD The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. High-grading our portfolio, lowering our emissions and driving returns. (), USD Preference shares are cumulative first preference shares and cumulative second preference shares in BP p.l.c. 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. Our team includes over 500 industry specialists, working across 15 countries. Our success is built on more than just our solar projects. It is just the start for us in Latin America, Souflis adds. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta and Austin. BPs shares linger near 25-year lows after it halved its dividend in August. You can sign up for additional alert options at any time. Solar business Lightsource bp is to partner with Portugal's Dourogas on a number of projects centered around green hydrogen production. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. 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. You can change your cookie settings at any time. Legal notice in relation to the material on this page. In 2021 we started directly supplying customers in China with gas from liquefied natural gas (LNG) imported by bp, completing our first fully integrated gas value chain into the country. The companies will also have access to First Solars American-made solar modules produced at its fully vertically-integrated manufacturing complex in Ohio. The Directors remuneration report is on pages 116-141. 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. 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. Estimated to abate 204,000 metric tons of carbon dioxide (CO2) emissions each year, equivalent to annual emissions from about 44,000 fuel burning cars. 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? 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. Assist in contract negotiation and. ()*, GBp Lightsource bp Renewable Energy Semiconductor Manufacturing . Lightsource bp is a global leader in utility-scale solar development and management. Contact info@lightsourcebp.com SOCIAL RESOURCES The Material does not (i) form part of the bp Annual Report and, pdf / 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. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. 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. 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. Building scale with capital discipline and returns focus. 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. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. 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. 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). 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,. 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. Delivered by Investis. But as an average we are absolutely confident that a return of 8% to 10% is achievable because thats where we are today.. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. 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. Actual results may differ materially from those expressed in such statements depending on a variety of factors. 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. You've rejected analytics cookies. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Lightsource bp is a global leader in utility-scale solar development and management. 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. 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. Find out more about us and how were working together to create a sustainable energy future for us all. Ordinary shares are ordinary fully paid shares in BP p.l.c. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. 2023 Lightsource. It makes good business sense, too. Our sector is fundamentally about financing. for the year ended 31 December 2021. 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. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. 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. 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. (Loading), USD If you experience any issues with this process, please contact us for further assistance. For more information please visit www.lightsourcebp.com. 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.