Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Building scale with capital discipline and returns focus. 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. For more information on bp in the US, visit www.bp.com/us. Procurement agreement with US-based manufacturer. 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. Read story 28 Feb, 2023 for the year ended 31 December 2021. April:formation of Eversource Capital, a JV with Everstone Group in India, to manage the Green Growth Equity Fund (GGEF). This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. Contact info@lightsourcebp.com SOCIAL RESOURCES BP International Limited. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. Lightsource BP - the solar developer 50% owned by the oil supermajor - announced a more than doubling in growth ambitions backed by a $1.8bn finance package as it hailed "a shift in mindset from gigawatts to terawatts" by the global renewables sector. , opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. 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. 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. High-grading our portfolio, lowering our emissions and driving returns. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. The bp Annual Report and Form 20-F 2021 contains the Strategic report on the inside front cover and pages 1-80 and the Directors report on pages 81-115, 116 (in part only), 142-143, 254-281 and 337-388. This is where we come in. ()*, GBp Delivered by Investis. *Market data delayed by 20 minutes. We are using cookies to give you the best experience on our website. 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. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. Our sector is fundamentally about financing. 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). The companys primary share listing is the London Stock Exchange. 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. 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. Speaking about the future growth of Lightsource BP, Brooks says: Ive no doubt that we will be 10 to 15 times the size we are today in a decade. Dont underestimate the ambitions of the Lightsource BP team, he warns. In 1910, the steel mill, then known as The Colorado Fuel and Iron Company, employed approximately 15,000 people, or about one-tenth of the entire Colorado workforce, according to the Colorado Encyclopedia and later was the . (), USD 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. Lightsource bp pays for the first $800 of the monthly insurance premium. The US solar industry is at an important inflection point where it must continue the charge towards delivering 45% of our countrys electricity by 2050 while addressing the risks and uncertainty posed by increasingly volatile solar panel production, pricing, and supply, said Georges Antoun, chief commercial officer, First Solar. 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. (Loading), USD Our team includes over 500 industry specialists, working across 15 countries. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana London-based Lightsource BP now wants to develop 25GW of projects by 2025, upping a . Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. 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. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. The Material does not (i) form part of the bp Annual Report and, pdf / We are using cookies to give you the best experience on our website. First Solar Investor Relations And this week, Lightsource BP announces its presence in Brazil, meaning the business is now active in 10 countries up from just five only a year ago. After all, 2017 was also the year in which renewable power grew by almost 20% higher than the 10-year average led by solar energy. The ability to bring base load is something that a trading operation like BPs can deliver, Lightsource BP chief operating officer and co-founder Kareen Boutonnat said. About First Solar, Inc. 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 . which is equivalent to the annual demand of approximately 36,000 New Zealand homes. This website uses cookies so that we can provide you with the best user experience possible. This drives our commitment and continued effort to integrate sustainable business practices into everything we do. You should not place undue reliance on these forward-looking statements. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. You can change your cookie settings at any time. You can sign up for additional alert options at any time. You can find out more about which cookies we are using or switch them off in settings. That's enough to power approximately 86,000 homes in New South Wales. You can find out more about which cookies we are using or switch them off in settings. In 2021, we took significant steps towards our aim to grow our EV charge points to more than 100,000 globally by 2030. In 2020, Lightsource bp completed construction on a 4.9MW solar farm for leading brick manufacturer Ibstock Brick. 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. 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. We'd also like to use analytics cookies so we can understand how you use our services and to make improvements. The parent company financial statements of BP p.l.c. But, we havent tried to run too fast; weve gone slowly to go quickly, if that makes sense. 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. November:expansion into Italy, Iberia and Brazil is announced. You've accepted analytics cookies. (Loading)*. 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. 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. And the next big steps are bigger projects and more volume. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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. You can find out more about which cookies we are using or switch them off in settings. 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 material on the bp Annual Report webpage (the Material) relates to the year ended 31 December 2021 and is provided for general information only. 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. The bp Annual Report and Form 20-F 2021 available for download on this webpage constitutes the Annual Report and Accounts in accordance with UK requirements and the Annual Report on Form 20-F in accordance with the US Securities Exchange Act of 1934, for BP p.l.c. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. 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. 2023 Lightsource. We use cookies to make our services work and collect analytics information. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. 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. BP p.l.c. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. Legal notice in relation to the material on this page. 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. Lightsource bp is an international solar business. November 260MW of affordable, clean and locally generated electricity for Texas communities. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 These factors include, but are not limited to, the matters discussed under the captions Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas. 2023 Lightsource. 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. Brazil is a massive market with huge potential. 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.. of 1 each. 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. Construction on this project commenced in December 2019. Where we refer to the company, we mean BP p.l.c. 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