Lightsources first projects back in 2010 were paid 0.33 per kilowatt-hour ($0.45)by the governmentfor a contract period of 25 years, indexed to the inflation rate, plus around 0.04 for the electricity itself. Other executives include Kevin Smith, CEO Americas; Kareen Boutonnat, CEO of Europe and International and 11 others. Earlier this year reports emerged that some of Chinas biggest solar companies may have ties to Uyghur forced-labour camps in Xinjiang via polysilicon production. Choose a career where you are empowered to change the world! Belfast, Northern Ireland, United Kingdom 4K followers 500+ connections Join to view profile Lightsource BP About Nick is the Group CEO of Lightsource bp, overseeing all global operations and. BP is a more rounded company because of what solar can do, and were a more rounded company with much, much further reach because of the relationship we have with BP and all that affords us, Boyle says. That confidence that Lightsource BP has fed into that new strategy can also be illustrated through the numbers. People who compare the returns on solar with oil and gas miss the fact that theyre comparing an apple to a fish.. That much is borne out from watching developments in the market that have followed BPs own move. So, how much is Mary Louise Kelly worth at the age of 51 years old? [2], Alongside funding, developing, constructing and connecting solar installations across the globe, Lightsource BP provides operations and maintenance, and asset management services to solar assets owners in the UK and beyond. Back in 2010, I couldnt have imagined the solar industry we find ourselves in now. Lightsource sought external investment to ramp up its growth expectations, and Rothschilds returned with 14 interested parties separated into two lists; investors, and so-called strategics. In the future, demand for solar electricity will be fuelled by two things: the boom in low-cost batteries that mean solar can be used at any time, and the desire to produce green hydrogen made from renewable electricity and water which will mean solar will effectively be used anywhere from sea to train to plane. partnership with global energy company bp, resulting in a 50:50 joint venture and the company rebranding to Lightsource bp. They were doing a survey of developers, and what types of systems and processes they have in-house, and they were very surprised by the way we run things, Boutonnat adds. Lightsource BP to Hire Hundreds for Global Solar Expansion Lightsource BP, a solar developer part-owned by BP Plc, expects to add 570 employees around the world this year. [2] At the same year, the company established teams in North America, the Netherlands and India. Heres How It Worked and What It Cost, Congress Passes Spending Bill With Solar, Wind Tax Credit Extensions and Energy R&D Package, Global solar PV operations & maintenance (O&M) 2020. Europe, Menlo Park, China), This describes the type of investor the person is (e.g. Nick Boyle founded Lightsource Renewable Energy in 2010 with five employees and a solar farm in Truro, Cornwall. Nick Boyle - Founder and CEO @ Lightsource Renewable Energy Lightsource BP - Wikipedia But the additional cash fund will be used to fast-track that ambition to 25GW by 2025, and the growth is likely to create more than 500 additional jobs within Lightsource in that time. The UKs supply market is richly competitive handfuls of Ofgem licensees have gone bust in recent weeks and not even innogy can make head nor tail of it but new, digital-minded entrants have found success in a market desperately in need of innovation. You can find out more about which cookies we are using or switch them off in settings. More recently, its projects have been performing at the top end of that range, he said. Follow along as he lays out the blueprint for his career, and takes us all the way from his first sketch to his thriving personal brand, Spunge. This website uses cookies so that we can provide you with the best user experience possible. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. Where Will DOE's Loan Program Make the Next Climate Tech Investments? Check out all of our energy storage resources. BP and Lightsource announced the partnership in December. The venture has tripled its global reach to 15 countries, and doubled its workforce from 300 in 2017 to around 600 staff across its global portfolio today. And big companies like Amazon, McDonald's and eBay are switching to clean energy. The deal on the Lightsource deal | News and insights | Home - bp global As well as Lightsources facilities, BP also plans to finance its own solar farms which the solar venture will develop and run as a gun for hire. Hydrogen could be shipped around the world as an energy source which essentially came from the sun but is captured as a gas, and burned the same way as historic hydrocarbons, Boyle says. In 2017, Nick spearheaded Lightsourcespartnership with global energy company bp, resulting in a 50:50 joint venture and the company rebranding to Lightsource bp. You can directly influence, create and achieve things here, its what makes us different. 'The potential for solar is huge': future looks bright for Lightsource One of things that weve done really well in the first years in partnership with BP is that weve set aggressive targets and weve delivered on every one them They were able to believe us when we said: Guys, 10GW isnt really pushing the envelope. That was the start of the conversation about how we redefine what good looks like, Boyle says. It all began at the end of 2010, when Lightsource Renewable Energy set up shop with six people crammed into a tiny corner of a London office. Nick Boyle | Lightsource bp Deployment ramped up quickly, and between 2014 and 2016, the U.K. was the largest end market in Europe, overtakingGermany. . And the relationship between BP and Lightsource has however gone further, and is now more symbiotic than anything else. In 2010, Nick founded Lightsource Renewable Energy, then just a six-person start-up, which quickly grew over 5 . Lightsource BP to double solar expansion by 2025 - Irish News It plans to increase the capacity up to 8,000MW through projects in the Americas, India, Europe and the Middle East. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Of all the offers, BP matched up best on culture, ethos, ambition and its "understanding and belief about the potential of solar," and not anything to do with BP being British, he insisted. It is less than a year since the oil corporation BP, the ventures joint-owner, thrust it into the spotlight by unveiling plans to grow its renewable energy generation 20-fold within this decade. In 10 years, Lightsource bp (LSbp) has gone from feisty start-up to shining light on the solar scene. [citation needed], In 2019, BP increased its stake in Lightsource BP to 50%. To date, Lightsource bp has deployed several GW of utility-scale solar projects globally and is executing a significant international project development pipeline as part of its industry-leading ambition to develop 25GW of solar by 2025. Suddenly, government-backed energy offtakers and bankable counterparties alike are keener to do business. There is, too, a strong focus on optimising the actual use of electrons both in the home and in C&I applications, something which stems from a solar, storage and home energy management system pilot launched alongside EDF two years ago dubbed Sunplug. I was talking to Accenture recently. 2010 still feels like yesterday to me, when six of us gathered in the . He started his career in 2015. What would you like to know about Nick Boyle? But Boutonnat insists the firm has no such ambitions, with Lightsource BP considering it more rewarding to go worldwide with what they do now than to go deeper in any one jurisdiction. He is a member of Lightsource bp's investment committee and a board director. BPs interest in Lightsource first crystallised within an external funding opportunity which was led by Rothschilds. Couldn't agree more Nick, also amazing that BP is the first super-major energy company to make such a commitment. Angel, Fund of Funds, Venture Capital), Number of Investments the Individual has participated in, Total number of current Jobs the person has, Number of news articles that reference the Person, Riverbed names Nick Boyle VP of APJ sales, Better Origin, which turns flies into food for chickens, raises $3M from Fly Ventures. Nick Boyle's income source is mostly from being a successful Player. EGYPS 2019 - Nick Boyle, CEO, Lightsource BP - YouTube EGYPS TV interviews Nick Boyle, CEO, Lightsource BP EGYPS TV interviews Nick Boyle, CEO, Lightsource BP. Lightsource BP Completes Financing on 260 MW Solar Project in Texas 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 plan is tobuildon project returns of 5 to6 percent with improved project and operational execution and the benefits that come with BPs extra financial muscle,integratingthat power with energy from BPs other sources such asfirm low-carbon power-purchase agreements with natural gas filling in the blanks,all procured by BPs considerable trading arm. The oil giant'searly forays into solar manufacturing weren't well aligned with its core business and endedin 2011. The culture of Lightsource bp is one of the things Im most proud of. 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