About Lightsource bp Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. About First Solar, Inc.First Solar is a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. BP is "actively pursuing renewable PPA opportunities" in the U.S. and Europe. Our people and projects are focussed on supporting long-term sustainable growth and strengthening the resilience of the world around us. Where Will DOE's Loan Program Make the Next Climate Tech Investments? All quotes delayed a minimum of 15 minutes. We have developed and financed more than 8.8GW of projects around the world to date, with a goal of 25GW by 2025backed by a $1.8 billion credit facility. Lightsource bp has developed more than 30 projects, which today have consistently delivered 8 to 10% returns. This included a 1GW Bouse solar and storage project, as well as a Parker solar and storage project with 250MW of capacity. The Lightsource bp culture of openness, inclusivity and excellence begins with our executive leadership team. Free intelligence and insights from industry experts and leading companies on the global energy transformation. 2023 Lightsource. GBp This website uses cookies so that we can provide you with the best user experience possible. The London-based solar firm plans to quadruple its solar capacity to 8 gigawatt (GW) through large-scale projects in the United States, India, Europe and the Middle East. The speed and breadth of that expansion is testament to the power of this partnership and what an integrated energy company with global reach brings to the table. Batteries are helping to optimize the power grid and opening up new applications and services for utilities and service providers. Power industry news, data and in-depth articles on the global trends driving power generation, renewables and innovation, BP will pay $50m to Lightsource on completion of the agreement and the remaining amount will be paid in instalments over three years., Industrial solutions for power generation, Scotlands hydrogen strategy: Building a green energy economy, Africas rapidly growing energy transition opportunity, One year on: How the Russian invasion of Ukraine has driven and damaged renewables, The EUs new climate policy will spark international cooperation on carbon pricing, ACWA Power to build 1GW renewable energy project in Kazakhstan, Engie selects Ecoppia to clean 181MWac solar project in Chile, Electric Process Heaters Help Decarbonise Petrochemical Refining, Whos acquiring who? Additionally, Lightsource bp is exclusively developing a 9GW solar pipeline for bp following its acquisition from 7X Energy. bp today announced plans to purchase publicly traded TravelCenters of America and bring one of the country's leading Liked by Becca Yenney See our some of our solar projects and customers in the US, Modern Slavery And Human Trafficking Statement. Lightsource BP's floating installation at the Queen Elizabeth II reservoir south of the Thames. Mon 20 Sep 2021 02.00 EDT. 2021, Lightsource bp further accelerating growth, now targeting 25GW solar developments by 2025, In 2021, Lightsource bp already significantly increased its presence across many major European markets, including. Although we need to move quickly, we are committed to scaling up safely, sustainably and responsibly putting people and the planet at the centre of everything we do.We know our plans for growth and job creation are very ambitious, but this is the pace of change we need to move at. As part of this pledge, Lightsource bp has also committed to using First Solars advanced high-value recycling program to manage modules at the end of their operating lives. 2023 Lightsource. Global energy business BP is set to invest $200m over a period of three years to acquire a 43% stake in European solarpower company Lightsource. In the US, the company is quickly growing into one of the largest solar developers, with a US portfolio of almost 10GW including more than 1.9GW entering into operations or construction in the last 18 months alone. Brookfield Renewable operates one of the world's largest publicly traded, pure-play renewable power platforms . For more than a decade, Lightsource bp has delivered affordable, safe and sustainable energy to businesses and communities around the world. 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. Utility-scale solar power is a resilient, reliable and predictable solution to climate change and energy security. Last month, Engie purchased a 1.25GW solar and storage portfolio from Revolve Renewable Power. a virtual power purchase agreement (VPPA) with L3Harris for up to 100 megawatts of capacity from Elm Branch, and. patio homes for sale knoxville, tn; valentina lisitsa child Understanding the tech stack of your customers, suppliers, and competitors provides insight into their level of investment in security and innovation. BP plc BP announced its decision to raise its stake in Lightsource BP. Visit one of our regional websites to find out more about our local projects, initiatives and key contacts. Texas is home to three large-scale, fully operational Lightsource bp solar projects. MediaReuven ProenaFirst Solar Mediamedia@firstsolar.comMary GrikasLightsource bp Mediamary.grikas@lightsourcebp.com, InvestorsRobyn RemesFirst Solar Investor Relationsinvestor@firstsolar.com. 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Lightsource BP Renewable Energy Investments serves customers worldwide. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8d25c25d-53ad-487f-9367-db439c7729a1. Every region receives a tailored approach and is managed by a local team. Carbon Recycling: Microbes, Jet Fuel and Leggings. Citing a pitch prepared by Macquarie Capital, Lightsource bp is looking to sell its 200 MWp Wellington Solar . Designed and developed at its R&D centers in California and Ohio, First Solars advanced thin film PV modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. Policy & regulation are aligning with renewables cost declines to make projects more profitable and portfolios more sustainable. Recently named largest solar developer in the world, we have established a track record in developing solar assets from early-stage greenfield, through to late-stage M&A and Ready to build status. Lightsource bp is a global leader with local impact. First Solar estimates that its new investments in Alabama and Ohio will add at least 850 new manufacturing and over 100 new R&D jobs, taking its total number of direct jobs in the US to over 3,000 people in four states by 2025, which is believed to make it one of the largest employers in the American solar manufacturing sector. 2023 Lightsource. Dev Sanyal, bps executive vice president of gas and low carbon, added: In the four years since we formed Lightsource bp, it has tripled its footprint and doubled its workforce. So when people ask if we really have the capability to deliver the returns we talk about, the answer couldnt be clearer yes, we can because we are. I Fully Converted a Home to Electricity. 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. 129.000+ aktualnych ofert pracy. 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. BP has not invested in clean-energy businesses on the same scale or with the same breadth in recent years as some of its contemporaries, specifically Total and Shell. Lightsource were advised by Rothschild, White and Case, Deloitte and Baker & McKenzie, Additional reporting by Arathy S Nair in Bengaluru; Editing by Jason Neely and Edmund Blair. bp press office, London: +44 (0) 207-496-4076, +44(0)7831095541, +44(0)7919 217511,bppress@bp.com, 20 North America is core to Lightsource bps ambitions to expand its footprint. We build, own and operate cost-effective, clean . Collectively, their knowledge and experience form the foundations on which our business is built. See here for a complete list of exchanges and delays. Staff numbers will certainly practically double from fewer than 600 at the beginning of the year. . The terms of BP's latest investment were not revealed. The US solar industry is at a pivotal moment, poised to expand at an exponential rate with the Inflation Reduction Act serving as the catalyst, said Kevin Smith, chief executive officer, Americas, Lightsource bp. Where Will DOEs Loan Program Make the Next Climate Tech Investments? Learn more. Additionally, Lightsource bp is exclusively developing a 9GW solar pipeline for bp following its acquisition from 7X Energy. We are seizing the opportunity by not just growing our 20 GW development pipeline across the United States, but also creating sizeable demand for our US-based partner First Solar, which, in turn, is investing in innovation and manufacturing, and supporting thousands of direct and indirect American jobs.. BP expects solar to generate about a third of the worlds total renewable power and up to 10 percent of total global power by 2035. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Prominent energy buyers include Xcel Energy, Amazon, McDonalds, eBay, Verizon, L3Harris and Penn State University. Societe Generale, one of the leading European financial services groups, employing over 138,000 members of staff in 62 countries and supporting on a daily basis 29 million individual clients, businesses and institutional investors around the world. This website uses cookies so that we can provide you with the best user experience possible. have invested in renewable energy as they prepare for a shift away from fossil fuels in the fight against climate change. BP, which adopted a sunburst logo two decades ago to convey its ambition in solar energy, agreed to acquire a 43 percent stake in Europes largest solar developer. The Lightsource bp pipeline continues to grow rapidly through greenfield, co-development and acquisition opportunities. Other investments include energy management firm GridEdge and e-mobility startup MaaS Global. Our team has driven exponential growth with 3.2 gigawatts of projects in operation or construction to date in the US, and a pipeline of more than 20 gigawatts across one of the largest and most diverse solar and storage portfolios in North America. Credit: BP p.l.c. Our relationship with Lightsource bp is a partnership in growth. In 2021, Lightsource bp already significantly increased its presence across many major European markets, including Spain, Italy and Portugal and announced a major auction win and market entry into Greece. The McCarthy team was selected for both their track record in successfully building large-scale solar projects and their commitment to recruiting and hiring from the local workforce. Earlier this week Repsol moved the needle for oil companies when it. Our success in project financing isa demonstration of the low risk, stable yield opportunities that renewable energy projects offer to investors, the quality and bankability of our developed assets, and the confidence that top tier investors have in Lightsource bp. All rights reserved. Were exploring how these renewable hubs can speed deployment, bring more projects to fruition, and generate consistent flows of clean power. For more information please visit www.lightsourcebp.com/us. The Lightsource bp culture of openness, inclusivity and excellence begins with our executive leadership team. critical healing and metal spirit daruma hibachi menu is lightsource bp publicly traded.