Nick previously sat at Board and Senior Director level in several leading retail financial service companies. articles a month for anyone to read, even non-subscribers! BP'sSeptembercapital markets eventalso revealed more details on the extent of the company'srenewable options. 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. That confidence that Lightsource BP has fed into that new strategy can also be illustrated through the numbers. N ick Boyle, the founder and chief executive of solar power giant Lightsource BP, is striding through its central London headquarters speaking as quickly as he walks. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. According to our Database, He has no children. Now Boyle is poised to set out how Lightsource will help power one of the biggest corporate transformations ever attempted. As a leading global solar developer, and 50:50 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. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. Nick Boyle, Lightsource Renewable Energy: Profile and Biography - Bloomberg Markets Bloomberg Terminal Demo Request Bloomberg Connecting decision makers to a dynamic network of information,. Claire Skinner: You are terribly impressive. Boyle says Lightsource BP has continued to flourish in such adversity as a result of always being willing to push the boundaries of what was thought possible. Then again, whenever the industry thinks the forecasted pace of change is too fast, it always ends up happening way, way faster," he said. 2023 Greentech Media or its affiliated companies. It plans to increase the capacity up to 8,000MW through projects in the Americas, India, Europe and the Middle East. It is less than a year since the oil corporation BP, the ventures joint-owner, thrust it into the spotlight by unveiling plans to grow its renewable energy generation 20-fold within this decade. We didnt sit back and plan to deliver 10GW; we realised at some point the question would be asked: Have you got the capability to do more? Boyle says. The plan is tobuildon project returns of 5 to6 percent with improved project and operational execution and the benefits that come with BPs extra financial muscle,integratingthat power with energy from BPs other sources such asfirm low-carbon power-purchase agreements with natural gas filling in the blanks,all procured by BPs considerable trading arm. All rights reserved. It takes a lot of energy for one man to make a sprawling office emptied by Covid-19 feel alive, but the Irishman has more than enough for the job. Boyle says the company is ready to meet these challenges head on. In 2017, BP acquired a 43% stake in the company by investing $200million. TE Nick Boyle earned $25,785,075 in his NFL career. It has also agreed a deal to supply electricity to Amazon from an existing solar farm in Ohio, and to supply power to BP service stations from solar farms in New South Wales, Australia. Were not on the trajectory we imagined 10 years ago, but were definitely not complaining. The wind industry is in a period of intensifying competition and shifting demand that requires a multi-faceted view of the global market. Nick Boyle Group CEO Nick is Global CEO and founder, starting up Lightsource Renewable Energy in 2010. Among those strategic firms were BP and another oil and gas giant, with BP eventually coming out victorious. 2010 still feels like yesterday to me, when six of us gathered in the . Within seven years Boyle had grown the company to a team of 300, with solar farms in Ireland, Netherlands, India and the US catching the eye of major players hoping to buy into the solar boom. Throughout his career, Nick has always been recognised for his entrepreneurial skill and success in pairing retail financial products with low-risk, predictable investments. And big companies like Amazon, McDonald's and eBay are switching to clean energy. Up to 2010, he spent six years in the power finance team at Investec Bank, and prior to this Paul was Assistant Director of project finance at Rolls-Royce Power Ventures, an independent power project developer based in London. Lightsource group CEO and founder Nick Boyle said: "We founded Lightsource to lead the solar revolution and chose to partner with BP because, like us, their ambition is to build and grow this company for the long-term. Nick is Global CEO and founder, starting up Lightsource Renewable Energy in 2010. Back in 2010, I couldnt have imagined the solar industry we find ourselves in now. Deployment ramped up quickly, and between 2014 and 2016, the U.K. was the largest end market in Europe, overtakingGermany. Check out Lightsource BP's net worth in US Dollar Aug, 2022. . The stellar-growth operation had initially set a target to develop arrays of panels with a total capacity of 10 gigawatts by 2023, enough for almost 3.4 million homes. Paul McCartie, Group Chief Investment Officer. The project comprises 200,000 LONGi Solar photovoltaic panels ground-mounted across 240 acres (97 ha). Nicks dynamic leadership and vision continues to drive the companys remarkable growth and international reach, growing from 5 to 20 markets since the bp partnership was inked, and now surpassing 1000 team members around the world. Lightsource BP still looks at the world in much the same way that it previously had, but now with an additional BP lense that lifts its ambitions. [3] In 2011, the company's first solar park was established in Truro. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. 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. His main and rather the only source of income is a professional career as an American football tight end which brings him great profits. Cardiff see off Bristol City for impressive derby win, Ange Postecoglou feels Viaplay Cup win has sharpened competition at Celtic. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. It takes a lot of energy. He says BP has been a breath of fresh air and has brought to the table other elements that the company may have previously lacked. The joy of working for Lightsource bp is having the freedom and the responsibility to go out and achieve things. ick Boyle, the founder and chief executive of solar power giant Lightsource, IfBPs change of heart isnt a U-turn, its certainly a major detour, BPscales back climate goals as profits more than double to 23bn, BPcriticised over plan to spend billions more on fossil fuels than green energy, Donate wartime profits to Ukraine or pay windfall tax, MPs tell BP, BPshares in Kremlin oil firm are blood money, says Zelenskiy adviser, BPdeclines to reveal how much loophole saved it in windfall tax, Calls for extension of windfall tax as BP posts eye-watering profits, BPdeclares 7bn profits while energy bills soar? Procurement agreement with US-based manufacturer. Nick, welcome, and thank you for taking the time to speak to us today. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Climate Change Is Launching a MutantSeed Space Race, UK Braces for Rare Weather Event That Risks Late-Winter Freeze, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? It would be completely inappropriate for us to get all the upside and them to get some greenwashing. The company has rebranded to Lightsource BP in affirmation of this powerhouse commitment which is set to shape the future of global energy delivery. Policy & regulation are aligning with renewables cost declines to make projects more profitable and portfolios more sustainable. In February of this year, BP announced its intention to reachnet-zero carbon emissions by 2050 and revealedfurther details during a Septembercapital markets event. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. In answering a question aboutthat 8 to10percent figure duringitsQ2 investor call,CFO Murray Auchincloss told investors that BPthought it could get low-carbon returns well into the double-digit [percentage] range, althoughit wasnt ready to promise as much right now. Lightsource's search coincided with BP's hunt for a solar developer to partner with. Where Will DOE's Loan Program Make the Next Climate Tech Investments? 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 solar industry is not without its challenges. Learn how and when to remove this template message, National Investment and Infrastructure Fund, "Solar farm to provide third of Belfast International Airport's power", "BP returns to solar with investment in Lightsource", "Shiny panels and a sure thing, Nick's story", "Bentley, Lightsource in Rooftop Solar Power Project", "Europe's largest floating solar farm powers up", "BP Re-Enters Solar Power Market With $200 Million U.K. Deal", "Lightsource BP to accelerate global solar growth with further investment from BP", "Lightsource bp secures $540m funding for solar developments", https://en.wikipedia.org/w/index.php?title=Lightsource_BP&oldid=1129683911, Renewable resource companies established in 2010, Articles needing additional references from November 2020, All articles needing additional references, Articles with unsourced statements from December 2017, Articles with unsourced statements from September 2020, Creative Commons Attribution-ShareAlike License 3.0, Development and operation of solar power farms, This page was last edited on 26 December 2022, at 17:05. Musk Made a Mess at Twitter. Lightsource BP, a solar developer part-owned by BP Plc, expects to add 570 employees around the world this year. Lightsource bp Renewable Energy Investments Limited. Solar energy is expected to play a crucial role in helping BP meet its 2030 renewable energy target because solar farms can be rolled out far quicker than its plans to build offshore wind farms by the second half of the decade. Personally, I find that half of the fun of my role is all that there is to do. BP has evidently lit something of a fire under Lightsources global ambitions, but not at least not yet given the firm aspirations of a more entrenched role in the energy market. I was still working in my previous role while Nick gathered support for the concept, and then things fell into place and all of a sudden we had a new business! Why would we go to a market where BP arent, when we could go to a similar where they are, and get afforded all of that extra support, Boyle says. And theres an abundance of evidence to support Boyles argument. The company was founded in 2010 as Lightsource Renewable Energy. As well as Lightsources facilities, BP also plans to finance its own solar farms which the solar venture will develop and run as a gun for hire. BP and Lightsource announced the partnership in December. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. England Companies With Less Than $1B in Revenue (Top 10K), United Kingdom Companies With Fewer Than 1000 Employees (Top 10K), Solar Companies With Less Than $1B in Revenue, Solar Companies With Less Than $500M in Revenue, Energy Companies With More Than $50M in Revenue, Caisse de Depot et Placement du Quebec Portfolio Companies, Energy Companies With More Than $10M in Revenue, Renewable Energy Companies With Fewer Than 1000 Employees (Top 10K), Number of portfolio companies associated to the Person, Number of Organizations that the person founded, The organization associated to the person's primary job, Where the person is located (e.g. So, how much is Nick Boyle worth at the age of 29 years old? I Fully Converted a Home to Electricity. Theres nothing like an unfair advantage. Boyle has said on the record that Lightsource BP is already hitting 8 to10 percent as a global average. Shoe designer and creative Salehe Bembury takes us on a journey from his childhood growing up in Manhattan, to an invaluable degree in industrial design, to working with some of the biggest names in fashionbefore breaking off to make his own name. Lightsource Renewable Energy Founder and CEO Feb 2010 Related Hubs Recent News and Activity Number of News Articles 2 And the relationship between BP and Lightsource has however gone further, and is now more symbiotic than anything else. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. Lightsource BPs Vendimia solar project in Spain. In 2010, Nick founded Lightsource Renewable Energy, then just a six-person start-up, which quickly grew over 5 years to become Europes largest solar developer and operator and a recognised global leader. Nick Boyle invested in Better Origin on Feb 23, 2021. The one concern I dont have is a poverty of options., The pace of the energy transitions prospects hasbeen accelerated by COVID," he added. We already have momentum, Boyle says. Belfast, Northern Ireland, United Kingdom 4K followers 500+ connections Join to view profile Lightsource BP About Nick is the Group CEO of Lightsource bp, overseeing all global operations and. Lightsource, the solar arm of the global energy major BP, is looking at as much as $8 billion (Dh29.4bn) worth of projects worldwide as it looks to deploy 10 Gigawatts of capacity by 2023, according to its chief executive. Weve got a predominantly [Organisation for Economic Co-operation and Development]-focused footprint at the moment.