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. We call this approach responsible solar. The oil major paid . All rights reserved. MediaReuven ProenaFirst Solar Mediamedia@firstsolar.comMary GrikasLightsource bp Mediamary.grikas@lightsourcebp.com, InvestorsRobyn RemesFirst Solar Investor Relationsinvestor@firstsolar.com. North America is core to Lightsource bp's ambitions to expand its footprint. Lightsource bp is an integrated independent power producer that is shaping the future of global energy and sustainability by financing, developing, and maintaining the highest-quality solar PV and storage projects. The two companies have agreed to enter a strategic collaboration that would combine Lightsource's solar development and management expertise with BP's global scale, relationships . Lightsource BP is a British company with headquarters in London, and offices in Madrid, Milan, Athens, San Francisco, Philadelphia, Mumbai, New Delhi, Cairo, Melbourne, Amsterdam, Bath, Belfast and Dublin. 26 , and leveragingourstrategic partnership withbp, we have access to some of the most competitive terms in the market. Utility-scale solar project financing case studies from the USA, Bank of America, ING Capital LLC and Societe Generale, Bank of America, Sumitomo Mitsui Banking Corporation (SMBC), Societe Generale and Export Development Canada (EDC), HSBC Bank USA, ING Capital LLC, Intesa Sanpaolo, NatWest, Societe Generale and Standard Chartered Bank, Learn more about Lightsource bp in the USA, See some of our projects and energy buyers, Layering sustainable benefitsat multiusesolar projects, Our end-to-end approach toutility-scale solar development, Take a look at how were making safe and ethical behavior a vital part of our business. 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. Customers are demanding access to clean, local power sources. For media inquiries, or to set up an interview with Kevin Smith or the landowners, please contact Mary Grikas at mary.grikas@lightsourcebp.com. 129.000+ aktualnych ofert pracy. 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. We continue to grow teams, partnerships and projects throughout the world. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Lightsource bp has a deep commitment to mitigating climate change by delivering safe, clean and affordable energy as well as maximizing the environmental sustainability and positive social impacts of each of our projects. Electronic Product Environmental Assessment Tool (EPEAT), https://www.globenewswire.com/NewsRoom/AttachmentNg/8d25c25d-53ad-487f-9367-db439c7729a1, Ukrainian pilot pair in Arizona to fly military simulators - US official, Another Norfolk Southern train derails in Ohio; company says no toxins aboard, UPDATE 1-China sets economic growth target of around 5% as parliament opens, China to develop more energy and mineral reserves and boost production, China Sets Modest Growth Target as Economic Risks Persist. North America is core to Lightsource bps ambitions to expand its footprint. Working through its trading and supply business, BP will supply AWS with 172 megawatts of power from solar farm in Spain and a wind farm in Sweden, due online in 2021 and 2022 respectively. Lightsource bp has developed more than 30 projects, which today have consistently delivered 8 to 10% returns. Separately, BP has acquired newly issued shares in UK-based Lightsource BP, lifting its stake to 50 percent. Lightsource bp is a global leader in the development and management of solar energy projects. Leveragingour strategic 50:50 JV partnership with bp, we are helping drive theworldslow-carbon energy transition with competitively priced, dependable, clean energy for businesses and communities. For First Solar InvestorsThis release contains forward-looking statements, which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The beautifully attractive thing about solar is the fact that it creates very predictable long-term revenue streams, said Lightsource CEO Nick Boyle in an interview, adding such agreements were just as bankable as a government subsidy. Our teams work hard to prioritize environmental sustainability and social justice into how we do business across the world. (Reuters) - 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 profits and deepen its foothold in renewable energy. Free intelligence and insights from industry experts and leading companies on the global energy transformation. MONTGOMERY, Ala.--(BUSINESS WIRE)--Lightsource bp has successfully closed on a $100 million financing package for its 130 megawatt (MWdc) Black Bear Solar energy project in Montgomery County, Alabama. Rapidly decreasing technology costs have ushered in a new era of cost-effective renewable energy solutions. Other investments include energy management firm GridEdge and e-mobility startup MaaS Global. 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. For over a decade we've been actively working to change the way our world is powered, with sustainable and responsible solar power. The new investment will help support BPs existing alternative energy business, which includes wind energy, biofuels and biopower. Since 2019, the team has brought into operation or initiated construction on 3.2 gigawatts of U.S solar projects with capital costs of nearly $4 billion across 11 states in America. Americas energy landscape is transforming. For more information please visit www.lightsourcebp.com/us. The wind industry is in a period of intensifying competition and shifting demand that requires a multi-faceted view of the global market. Our team includes over 500 industry specialists, working across 14 countries. For more information visit lightsourcebp.com, follow us on Twitter @lightsourceBP and Instagram @lightsourcebp or view our LinkedIn page. In addition to this 20GW-plus pipeline Lightsource bp is also developing a 9GW portfolio exclusively for bp. ING Capital LLC, a financial services firm offering a full array of wholesale financial lending products and advisory services to its corporate and institutional clients. First Solar is a pioneer in recycling solar panels, operating an advanced recycling program that provides closed-loop semiconductor recovery for use in new modules, while also recovering other materials including aluminum, glass, and laminates. We power businesses and communities across the US with clean and affordable energy solutions. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. 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. 500 jobs to be created over the next four years. These projects also help facilitate regional prosperity through local economic growth. Informacja o pracodawcach. CohnReznick Capital was engaged as the tax equity advisor for the transaction. For more than a decade, Lightsource bp has delivered affordable, safe and sustainable energy to businesses and communities around the world. We integrate in-house development, asset financing, and operational management to optimize competitiveness and capture maximum value throughout the lifecycle of each clean energy project. 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. Brookfield Renewable operates one of the world's largest publicly traded, pure-play renewable power platforms . 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. . And big companies like Amazon, McDonalds and eBay are switching to clean energy. This website uses cookies so that we can provide you with the best user experience possible. The definition of a developed project is one that has either achieved financial close, or, have reached Final Notice to Proceed status, with all necessary permitting secured leaving construction ready to begin. The two companies have agreed to enter a strategic collaboration that would combine Lightsources solar development and management expertise with BPs global scale, relationships and trading capabilities to boost future growth worldwide. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Under the terms of the deal, BP will pay $50m to Lightsource on completion of the agreement and the remaining amount will be paid in instalments over three years. Our team includes over 500 industry specialists, working across 14 countries. Since 2017, Lightsource bp has grown its global footprint from five to 15 countries and doubled its workforce from 300 to 600 people, with around 200 jobs being created and filled during the pandemic. The terms of BP's latest investment were not revealed. 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 progressive project financing structures and track record provide a platform for success and growth. This included a 1GW Bouse solar and storage project, as well as a Parker solar and storage project with 250MW of capacity. This website uses cookies so that we can provide you with the best user experience possible. The investment, a fraction of the approximately $17 billion BP has spent in 2017, comes six years after BP wrote down billions on its first investment in solar, when its panel manufacturing business struggled with competition from China. bp press office, London: +44 (0) 207-496-4076, +44(0)7831095541, +44(0)7919 217511,bppress@bp.com, 20 This button displays the currently selected search type. The deal includes orders for First Solars Series 6 Plus and next-generation Series 7 modules. Deal worth 1.3bn means operation will develop enough solar farms to power equivalent of 8.4m homes. Additionally, Lightsource bp is exclusively developing a 9GW solar pipeline for bp following its acquisition from 7X Energy. And quite frankly we love it because it works., Boyle added: Globally, renewable energy is shifting from a mindset of gigawatts to terawatts. Bosque de Palabras First Solar is expanding its US manufacturing capacity, with a third factory expected to come online in Ohio in the first half of 2023 and a fourth factory which is under construction in Alabama and expected to be commissioned by 2025. For over a decade weve been actively working to change the way our world is powered, with sustainable and responsible solar power. That growth shows new solar parks are still coming online in spite of the impact of the pandemic, while a global push for clean . 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. Prominent energy buyers include Xcel Energy, Amazon, McDonalds, eBay, Verizon, L3Harris and Penn State University. We are excited to be a partner in bps transformation from an international oil company to an integrated energy company. Lightsource Global is Open For Business. Find out more about how we have built a giga-scale business that is people and culture centric, our joint venture partnership with bp and how we build and grow meaningful partnerships across the energy transition. Wind and solar generate electricity at different hours and seasons. Combining them, along with storage, can maximise the grid capacity available. *Market data delayed by 20 minutes. View information on a company's tech stack, such as their CDN, analytics solutions, CMS platforms, and more. Lightsource bp has been a leader in fostering circularity in the solar industry and as such has committed to recycling solar panels across all their projects. All rights reserved. This is another sizeable commitment by Lightsource bp and a reflection of their trust in First Solar and our technology, said Georges Antoun, chief commercial officer, First Solar. michael carmine longtime companion; lyon college salaries. This year has seen Lightsource BP acquiring the development rights to its first projects in Spain, where it now holds a 300-megawatt pipeline, as well as making headway across the Atlantic. Credit: BP p.l.c. (Loading), USD The fast-growing operation had initially set a target to develop arrays of panels with a total capacity of 10 gigawatts by 2023, enough for almost 3.4m homes, but the fresh funds will be used to turbocharge its ambition to 25GW by 2025. The funding, provided by 10 top tier global financial institutions1, underpins Lightsource bps growth ambitions and execution strategy as it continues to accelerate the deployment of solar across the EMEA, Americas and Asia Pacific regions. have invested in renewable energy as they prepare for a shift away from fossil fuels in the fight against climate change. The company is publicly traded and has offices in Asia, the Middle East, Europe and Latin America. Modern Slavery And Human Trafficking Statement. As subsidies decline and international renewables markets develop, we will look to build out this in line with our customer requirements," the spokesperson said. In September it closed finance on a 125-megawatt portfolio of projects across four U.S. states. Lightsource bp continues to deliver and it continues to grow. Other oil majors including Royal Dutch Shell. McCarthy Building Companies was selected by Lightsource bp as their Engineering, Procurement, and Construction (EPC) Contractor for the project. June 17, 2022 kogan robot vacuum mapping kogan robot vacuum mapping Global installed solar generating capacity more than tripled in the past four years and grew by over 30 percent in 2016 alone, according to BPs Statistical Review of World Energy. We build, own and operate cost-effective, clean . Global reach and buying power, Financing capability, Track record in delivery, Investment in innovation, Safety, Integrity, Respect, Sustainability and Drive. It also plans to build an extra 9GW of solar farms exclusively for the oil corporation as part of BPs plan to grow its renewable energy capacity 20 fold by the end of the decade. 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. (), USD Additionally, Lightsource bp has set targets to reduce Scope 1, 2, and 3 greenhouse gas (GHG) emissions and is proud to work with First Solar, which has also set targets to reduce its Scope 1 and 2 GHG emissions. By working together we aim to enact real change on the global energy landscape. Our team includes over 500 industry specialists, working across 14 countries. Our relationship with Lightsource bp is a partnership in growth. Lightsource bp is a global leader in the development and management of solar energy projects. This trend proves that renewables are mainstream and solar is playing a key role in addressing the climate crisis. We call this approach responsible solar. We use cookies to collect and analyse information on our site's performance and to enable the site to function. Lightsource BP has developed more than 30 projects, which today have consistently delivered 8% to 10% returns. Where Will DOE's Loan Program Make the Next Climate Tech Investments? This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Lightsource bps new 25GW target, and strong projected job creation, bolstered by its robust and growing project pipeline, represent the next stage of growth since Lightsource and bp joined forces, fast-tracking the ventures global expansion, in December 2017. is lightsource bp publicly traded. 2021, Lightsource bp completes $380M financing and mobilizes construction on 316 megawatts of solar in Texas. Since our first deal closed in 2019, the US team has raised over $3.6 billion in project financing.