This project consists of a 200MWdc solar farm at Goolma Road, Wuuluman. With smaller pockets, comes a different approach. 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. 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. DocuSign Envelope ID: A3060411-4035-4A47-88F1-5E2F2BB0AEEC. *Market data delayed by 20 minutes. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. This is where we come in. 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. Doubling adjusted EBITDA, sustaining returns, focused on customers. Lightsource bp, Schroders Greencoat and H&M Group announce the completion of two new solar power stations in Leicestershire. Working alongside your teams, we can offer our unparalleled framework, experience and resources to guarantee the performance of your assets. These forward-looking statements are often characterized by the use of words such as estimate, expect, anticipate, project, plan, intend, seek, believe, forecast, foresee, likely, may, should, goal, target, might, will, could, predict, continue and the negative or plural of these words and other comparable terminology. May: Lightsource BP acquires IoT (Internet of Things) business in Ireland called Ubiworx to strengthen digital capability. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. In August 2021 Lightsource bp signed a new power purchase agreement with McDonald's and eBay for a 345MW solar project under development in Louisiana. 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. Lightsource bp is a global leader with local impact. In March 2016, Lightsource Renewable Energy successfully completed and connected Europes largest floating solar farm, installing 6.3MW on the Queen Elizabeth II Reservoir, near London. Our wide range of energy solutions provide cost-effective end-to-end offerings designed to fit your needs. Earlier this year, First Solar announced that it will invest $680 million to expand Americas domestic PV solar manufacturing capacity by 3.3GW annually, by building its third US manufacturing facility, in Lake Township, Ohio. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo. The BP partnership has definitely given our whole team confidence, Brooks says. The framework agreements, the largest in First Solars history, will provide modules scheduled to be delivered between 2023 and 2025 to support the companies solar development pipelines in the United States. The 260-megawatt Impact . 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. 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. 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. (), USD Led by Emilie Wangerman, Lightsource bp's business development team supported bp in acquiring an additional 9 GW pipeline of projects from 7X Energy, Inc., which will be exclusively developed by Lightsource bp's U.S. team. Today, its average development can produce more than 70MW - with the largest in development in Australia at more than 500MW. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Construction on this project commenced in December 2019. Estimated to abate 204,000 metric tons of carbon dioxide (CO2) emissions each year, equivalent to annual emissions from about 44,000 fuel burning cars. If you experience any issues with this process, please contact us for further assistance. 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 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. 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. The Material may contain certain forward-looking statements, forecasts or projections with respect to the financial condition, results of operations and businesses of bp and certain of the plans and objectives of bp with respect to these items. Every region receives a tailored approach and is managed by a local team. The full details of our Gender Pay Gap Report 2018can be found here. Where we refer to the company, we mean BP p.l.c. 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. A cross reference to Form 20-F requirements is included on page 390 of the bp Annual Report and Form 20-F 2021. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. The modules, scheduled. This is exactly the type of energy we want to develop and deliver as we continue to build out our renewable pipeline and ultimately strengthen confidence in our target of delivering 20GW of developed renewables by 2025.. We have always been driven, and our partnership with BP is a great enabler. 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. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. Lightsource BP: one year on and going global 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. 2023 Lightsource. Lightsource BP, like rivals including Frances Total , sees further opportunities for profits from selling solar and wind power projects it had developed from early stages. Since 2010, we've provided sustainable and affordable energy to businesses and communities throughout the UK. 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 . Oil and gas will remain BPs largest source of income over the coming decade which will help pay for the shift to low-carbon energy. 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 built or financially closed on more than 900 MW of solar this year and plans on 1,000 MW in 2021. The full details of our Gender Pay Gap Report 2018 can be found here. 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. 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. All rights reserved. To accept or reject analytics cookies, turn on JavaScript in your browser settings and reload this page. 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. 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. 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. Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. 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. After submitting your request, you will receive an activation email to the requested email address. 2018, The BP partnership has definitely given our whole team confidence. Our growth has been in maturing the organization and getting into a strong operating position for next year. 2023 Lightsource. 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. Lightsource bp and AEP Energy Partners sign power contract for 188 megawatt solar farm in Indiana * Lightsource BP returns average 8% to 10% -CEO, * Some European projects offer higher returns - CEO, * BPs trading offers further profit opportunities -COO. We build, own and operate cost-effective, clean energy projects, and are dedicated to pushing the frontiers of solar and storage solutions, backed by world-class execution capabilities. For more information please visit www.lightsourcebp.com. But it is, perhaps, the end of the beginning., Were getting mission ready for our next big steps, he says. 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. You can find out more about which cookies we are using or switch them off in settings. If it doesnt make money, it means that were not doing good in the world, as we cant do more of it.. We use cookies to make our services work and collect analytics information.
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