lightsource bp annual report

But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. 2.2 MB. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. 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, a global solar company in which oil major BP has a 50 percent stake, has begun commercial operation of its largest solar project located in North Texas. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. 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. Lightsource bp Renewable Energy Investments Limited. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. This website uses cookies so that we can provide you with the best user experience possible. And, if youre confident, you can put your head down and deliver. 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. We represent the opposite of that.. These modules are a critical step in delivering our 9GW solar pipeline that will provide affordable energy, create jobs, bolster the supply chain and deliver the type of returns our investors expect. You can sign up for additional alert options at any time. This website uses cookies so that we can provide you with the best user experience possible. BP and Lightsource announced the partnership in December. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. For more information on bp in the US, visit www.bp.com/us. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 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. Legal notice in relation to the material on this page. Sustainability is integrated into our business strategy and operating model at every level. bps finances are strong and resilient. It is just the start for us in Latin America, Souflis adds. Were looking at assets in some parts of Europe that definitely offer double digit returns and we are also looking at assets in other parts of the world that are lower than that, he told Reuters in an interview this month. Lightsource bp has built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. 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. 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. 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. August:further US expansion is announced with the acquisition of six solar development assets in Pennsylvania and Maryland. 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. And the next big steps are bigger projects and more volume. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. We are using cookies to give you the best experience on our website. Investors are looking at BPs transition and thinking that its ambitious but value destroying, one top 10 investor said, speaking on condition of anonymity. 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. 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. 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. Home, Britoil, Lightsource BP, Llandarcy. All quotes delayed a minimum of 15 minutes. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. Our solar projects dont just generate clean electricity, but also benefit the local economy and ecosystem. *Market data delayed by 20 minutes. We power businesses and communities across the US with clean and affordable energy solutions. Here are some examples of how we performed in 2021. Our Standards: The Thomson Reuters Trust Principles. 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. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. You can find out more about which cookies we are using or switch them off in settings. 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. You could see more consolidation in the renewables industry through mergers and acquisitions., 28 Find out more about how our solar projects champion local biodiversity, promote agricultural land use, and support local economies. 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 Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource bp is an international solar business. "Reliability is super-important, too this is a young industry, so its like a gold rush, with new players coming into the market who want to flip things quickly. 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. 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. Lightsource bp today announced it has closed on a $533 million multiproject financing package for its 345-megawatt Ventress Solar project 30 miles northwest of Baton Rouge in Pointe Coupee Parish. 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. 602-414-9315, Lightsource bp and bp Sign Multi-Year Agreement for up to 5.4GW of First Solar Modules, Western Hemispheres largest solar manufacturing footprint. Lightsource and bp celebrate five-year anniversary. (Loading), USD 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. As 2017 drew to a close, BP joined forces with a trailblazing company called Lightsource, Europes largest solar developer. 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. 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. 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. Todays announcement reflects the speed in which were moving to deliver these high-quality solar projects. As a business, we also care deeply about our culture and values, invest in our teams, and place people and communities at the heart of the decisions we make. 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. GBp COLUMBUS, Ohio-- ( BUSINESS WIRE )--Lightsource bp has executed a power purchase agreement with Amazon for a new 375 megawatt (MWdc) solar project under development in Ohio, as part of Amazon's. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. New Mexico ()*, GBp Lightsource bp Renewable Energy Investments Limited. (Loading), USD May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. 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. 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. The great majority of this investment will fund Lightsource's. You must click the activation link in order to complete your subscription.

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