BPs shares linger near 25-year lows after it halved its dividend in August. All rights reserved. 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. Solar Power Europe released the entries for its Solar Flora and Fauna photo competition. Helge Lund, chair Chair's letter pdf / 264.7 KB Our sector is fundamentally about financing. For more information, please visit www.firstsolar.com. Lightsource bp and bp will benefit from the evolution of First Solars advanced Cadmium Telluride (CadTel) thin film module technology platform over the span of the agreement. For staff members with dependents, Lightsource will cover 50% of the costs of covering dependents. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. 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. 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. First Solar Investor Relations 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. Oversee onboarding of new facilities. 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. Delivered by Investis. The BP partnership has definitely given our whole team confidence, Brooks says. This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. It is a key element in BP CEO Bernard Looneys plan to grow BPs renewable power generation capacity 20-fold by 2030 to 50 GW from solar and wind power. Modern Slavery And Human Trafficking Statement. 2.2 MB. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. 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. As a leading developer, financier and operator of utility-scale solar, we have been building and growing meaningful partnerships across the energy transition for over a decade. After submitting your request, you will receive an activation email to the requested email address. 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? It is just the start for us in Latin America, Souflis adds. ()*, GBp For more information on bp in the US, visit www.bp.com/us. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. The development of our projects are underpinned by our core values, ethically focussed and climate conscious. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. You can find out more about which cookies we are using or switch them off in settings. 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. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. And, if youre confident, you can put your head down and deliver, Lightsource BP: one year on and going global. 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. 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. 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 . 2023 Lightsource. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. It is not even the beginning of the end. ()*, GBp Construction on this project commenced in December 2019. 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 a year earlier, according to the companys annual report filed this week. 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. Lightsource bp is an international solar business. LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity What the two companies have in common is a shared ambition to accelerate the global low carbon transition. If you experience any issues with this process, please contact us for further assistance. BATON ROUGE, La.-- ( BUSINESS WIRE )--Lightsource bp has successfully closed on a $533 million multi-project financing package and mobilized construction on its 345 megawatt (dc) Ventress Solar. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. 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. In February 2019, Penn State and Lightsource bp announced that theyd signed a 25-year contract for clean, renewable electricity to power the university. 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. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. The parent company financial statements of BP p.l.c. Lightsource bp has agreed to procure up to 4.3GWDC of modules for its US utility-scale projects, and bp will procure up to 1.1GWDC to power their projects being developed by Lightsource bp. About bp Weve established a good foundation with BP helping us to embed business processes and, after year one, were ready to deliver real growth momentum.. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. 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. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. 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 could see more consolidation in the renewables industry through mergers and acquisitions., 28 But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. You can change your cookie settings at any time. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana Back Submit . * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. BP are able to deliver more than just solar. *Market data delayed by 20 minutes. 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. All rights reserved. Partnerships are a key part of our approach, enabling better and faster utilization of our network. We power businesses and communities across the US with clean and affordable energy solutions. 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. 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. November:contracts are signed for 25MW of solar power in Western US. We use cookies to collect and analyse information on our site's performance and to enable the site to function. This website uses cookies so that we can provide you with the best user experience possible. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. farmers and ranchers face increasing economic stress. Choose a career where you are empowered to change the world! April:enters into power purchase agreement with NSG Group, supplying solar by private wire to Pilkington Glass facility in Lathom, UK. You can find out more about which cookies we are using or switch them off in settings. You've accepted analytics cookies. About Lightsource bp Miguel will be responsible for delivering further growth in the EMEA markets through a combination of greenfield, co-development and M&A activities. November All quotes delayed a minimum of 15 minutes. 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. Group Results Fourth Quarter and Full Year 2019 Highlights. The company and each of its subsidiaries are separate legal entities. 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. LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED, for LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED (09494479), (of the document filed at Companies House), Companies House does not verify the accuracy of the information filed. (), USD We know many ways in which to finance projects and understand the market for financing very differently.. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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. The goal was to take the UK-based business global and, one year on, the Lightsource BP partnership has more than doubled its footprint around the world and has just announced a move into renewables-friendly Brazil, where the market potential for solar is huge. Find out more about us and how were working together to create a sustainable energy future for us all. 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) Read story 28 Nov, 2022 COP 27: Meet the Lightsource bp delegation The rapid deployment of solar power on a vast scale is essential to limit global warming to 1.5C.