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. 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. ANNUAL REPORT AND FINANCIAL STATEMENTS 2019. To obtain a hard printed copy of BP's complete audited financial statements, free of charge, UK based investors should contact bp Distribution Services by clicking the link above or calling +44 (0)870 241 3269 or by emailing bpdistributionservices@bp.com. 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. You can change your cookie settings at any time. BP <BP.L> is getting back into solar power six years after its first, failed foray, with a $200 million investment in solar generator Lightsource that the oil and gas firm expects will deliver . 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. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. Brazil is a massive market with huge potential. 2023 Lightsource. The former Goldman Sachs principal and investor went from finance to an operating business because: I have an enormous personal conviction about the energy transition and the ability to have a real impact.. 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. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. 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. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. 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 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. Lightsource bp Feb 2021 - Present2 years 1 month San Francisco Bay Area Provide O&M expertise to asset management team. November:Lightsource BP wins Snowy Hydro contract to supply 105MWp of solar power in Australia. If you experience any issues with this process, please contact us for further assistance. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. *Market data delayed by 20 minutes. Our team includes over 500 industry specialists, working across 15 countries. As a leading global solar developer and 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. The full details of our Gender Pay Gap Report 2018 can be found here. We know many ways in which to finance projects and understand the market for financing very differently.. What Lightsource bp is doing to raise support for earthquake survivors in Turkey and Syria. And the next big steps are bigger projects and more volume. 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. And, if youre confident, you can put your head down and deliver. The new facility is expected to be commissioned in the first half of 2023 and when fully operational will scale the companys Northwest Ohio footprint to a total annual capacity of 6GW, which is believed to make it the largest fully vertically integrated solar manufacturing complex outside of China. This website uses cookies so that we can provide you with the best user experience possible. 2018, The BP partnership has definitely given our whole team confidence. Ordinary shares are ordinary fully paid shares in BP p.l.c. This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Our responsibly developed utility-scale projects around the world provide affordable and sustainable energy to businesses and local communities. 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. 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. November:expansion into Italy, Iberia and Brazil is announced. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. We represent the opposite of that.. Such a strategy, known as a farm down, helps bring up the overall returns on a project, Boyle said. 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. Since late 2017, the team has developed a pipeline of more than 10 gigawatts of large-scale solar projects at various stages of development across the United States with over 2.8 gigawatts of contracted assets with clients in 11 states representing more than $2.3 billion in expected investment. As Americas familyfarmers and ranchers face increasing economic stress, opportunities to partner with solar farms are providing new income streams and in many cases, the ability to expand their operations. New Mexico 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. 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.. 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. Today, we are recognized as aglobal solar leader, says its chief strategy officer, James Brooks. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. (Loading)*. (Loading), USD 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. Our ability to help our customers manage these risks by providing long-term firm pricing and supply commitments, backed by First Solars reputation, is a key differentiator. Lightsource bp and AEP Energy Partners Sign Power Contract for 188 Megawatt Solar Farm in Indiana. bps ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. Every region receives a tailored approach and is managed by a local team. are on pages 282-336. 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. The parent company financial statements of BP p.l.c. Souflis adds: For us, success is not about just creating megawatts projects have to be profitable. See how we are accelerating our country's transition to a low-carbon future through our utility-scale solar projects. 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. First Solar Investor Relations Doubling adjusted EBITDA, sustaining returns, focused on customers. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. 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. Group Results Fourth Quarter and Full Year 2019 Highlights. "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. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. About bp I joined when it was just six people huddled around two laptops, and from that first moment the ethos was clear, 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). To obtain a hard printed copy of bps complete audited financial statements, free of charge, UK based investors should contact bp distribution services by clicking the link above or calling +44 (0)870 241 3269 or by emailing bpdistributionservices@bp.com. We use cookies to collect and analyse information on our site's performance and to enable the site to function. All rights reserved. *Market data delayed by 20 minutes. We use cookies to make our services work and collect analytics information. 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? of 25 cents each. Our key reports include information about our financial and operating performance, sustainability performance and also global energy trends and projections. The projects are spread across 12 U.S states & will generate enough clean energy to power ~1.7 million U.S. homes. The Strategic report and the Directors report together include the management report required by DTR 4.1 of the UK Financial Conduct Authoritys Disclosure Guidance and Transparency Rules. First Solar also operates an advanced recycling program that recovers more than 90 percent of CadTel for use in new modules. 2.2 MB. Delivered by Investis. If based in the US or Canada investors should contact Issuer Direct by calling +1 888 301 2505 or by emailing bpreports@issuerdirect.com. At First Solar, Inc. we promise to treat your data with respect and will not share your information with any third party. 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. This landmark solar industry procurement deal is a testimony to Lightsource bps exponential growth in the United States, and our confidence in First Solars technology, said Kevin Smith, chief executive officer, Americas, Lightsource bp. 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. Lightsource bp pays for the first $800 of the monthly insurance premium. Find out more about how Lightsource bp works and operates and our partnership with bp. With smaller pockets, comes a different approach. Lightsource bp Renewable Energy Investments Limited. BP p.l.c. All rights reserved. It is not even the beginning of the end. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. Actual results may differ materially from those expressed in such statements depending on a variety of factors. November:contracts are signed for 25MW of solar power in Western US. 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. You've accepted analytics cookies. 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 RENEWABLE ENERGY INVESTMENTS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity Legal notice in relation to the material on this page. 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.
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