In the past year Lightsource BPs headcount has risen by around 20%, and theres still at the time of writing another 64 vacancies to fill. Lightsource bp's Group CEO is Nick Boyle. I was talking to Accenture recently. Thats the cycle in this industry.. Lightsource BP earlier this month struck a deal to build the largest solar farm in the US state of Louisiana to supply clean energy to McDonalds and eBay. [5], In 2016, Lightsource completed the Crookedstone Solar Farm, in Antrim, Northern Ireland, which provides a third of the Belfast International Airport's electricity needs.[1]. ick Boyle, the founder and chief executive of solar power giant Lightsource, IfBPs change of heart isnt a U-turn, its certainly a major detour, BPscales back climate goals as profits more than double to 23bn, BPcriticised over plan to spend billions more on fossil fuels than green energy, Donate wartime profits to Ukraine or pay windfall tax, MPs tell BP, BPshares in Kremlin oil firm are blood money, says Zelenskiy adviser, BPdeclines to reveal how much loophole saved it in windfall tax, Calls for extension of windfall tax as BP posts eye-watering profits, BPdeclares 7bn profits while energy bills soar? 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. Lightsource also plans to build an extra 9GW of solar farms exclusively for the oil corporation as part of BP's plan to grow its renewable energy capacity 20 fold by the end of the decade. EGYPS 2019 - Nick Boyle, CEO, Lightsource BP - YouTube EGYPS TV interviews Nick Boyle, CEO, Lightsource BP EGYPS TV interviews Nick Boyle, CEO, Lightsource BP. Now BP is eyeing a low-carbon revolution of its own a30-year plan that includes establishing a renewables portfolio of 50 gigawatts by 2030 and 20 GW by 2025. The companys pipeline shrank and more than 50 jobs were lost after the firm completed a reconsideration of its direction in the aftermath. 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. With an Energy Crisis Brewing, No Peak in Sight for Emissions, Why TransitTech Is So Vital to Struggling Public Transportation Systems. "The target is 10GW by 2023," Nick Boyle told The National in an interview in Abu Dhabi. [citation needed] Also in 2018, the company formed a joint venture Lightsource BP Powered by Hassan Allam Utilities in Egypt with HA Utilities, the utilities subsidiary of Hassan Allam Holding. [citation needed], In 2019, BP increased its stake in Lightsource BP to 50%. Jobs Number of Current Jobs 1 Nick Boyle is the Founder and CEO at Lightsource Renewable Energy. Batteries are helping to optimize the power grid and opening up new applications and services for utilities and service providers. It would be completely inappropriate for us to get all the upside and them to get some greenwashing. Since last December operations have been opened in Egypt and Brazil amongst others, and the company is now active in 11 jurisdictions worldwide. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. The numbers illustrate the point rather well. In his role as Group CEO, Nicks dynamic leadership and vision has driven the company to tremendous success and in December 2017, Lightsource. Among those strategic firms were BP and another oil and gas giant, with BP eventually coming out victorious. They just have this very can-do, empowering mentality that suits us perfectly, Boyle says. Where Will DOEs Loan Program Make the Next Climate Tech Investments? We are using cookies to give you the best experience on our website. The one concern I dont have is a poverty of options., The pace of the energy transitions prospects hasbeen accelerated by COVID," he added. Our industry-leading 25GW by 2025 target and the finance package are further proof that Lightsource has left business as usual far behind., Get the day's headlines delivered directly to your inbox, Watch for the April 5 investment tax change, Preparing for a future sale of your business, Mediterranean countries push for more solidarity in migrant crisis, Donaldson: DUP won't be knocked off course by rhetoric over Framework. Lightsource's search coincided with BP's hunt for a solar developer to partner with. Joined 2010, UK I co-founded Lightsource in 2010, and the whole thing came about almost completely by accident. And big companies like Amazon, McDonald's and eBay are switching to clean energy. [3] In 2011, the company's first solar park was established in Truro. The project comprises 200,000LONGi Solar photovoltaic panels ground-mounted across 240 acres (97ha). We were the biggest developer in Europe, purely by virtue of what we had done in the U.K.After developing 300 smaller sites, there wasnt much left we didnt understand" about the challenges that different sites can throw at a developer, Boyle added. All rights reserved. We didnt sit back and plan to deliver 10GW; we realised at some point the question would be asked: Have you got the capability to do more? Boyle says. Shoe designer and creative Salehe Bembury takes us on a journey from his childhood growing up in Manhattan, to an invaluable degree in industrial design, to working with some of the biggest names in fashionbefore breaking off to make his own name. The project comprises 200,000 LONGi Solar photovoltaic panels ground-mounted across 240 acres (97 ha). Musk Made a Mess at Twitter. 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. Boyle has said on the record that Lightsource BP is already hitting 8 to10 percent as a global average. 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. You wake up every morning with a list to achieve, and its all good stuff, things that drive the business forward, things that make a measurable difference. Were not on the trajectory we imagined 10 years ago, but were definitely not complaining. Then again, whenever the industry thinks the forecasted pace of change is too fast, it always ends up happening way, way faster," he said. See the full leadership team at Craft. His responsibilities include debt and equity fundraising for all solar asset developments, project investment structuring and M&A. The company was founded in 2010 as Lightsource Renewable Energy. Lightsource has not used Chinese-made solar panels for years now due to the US sanctions, and is working with industry groups across its geographical portfolio to help improve the traceability of the solar supply chain. Boutonnat explains how whereas in the past there may have been eight applicants for each role, theres now 75, and the calibre of talent approaching the business has soared since the BP announcement was made. Lightsource BP, a solar developer part-owned by BP Plc, expects to add 570 employees around the world this year. That confidence that Lightsource BP has fed into that new strategy can also be illustrated through the numbers. Where Will DOE's Loan Program Make the Next Climate Tech Investments? Policy & regulation are aligning with renewables cost declines to make projects more profitable and portfolios more sustainable. In 2017, Nick spearheaded Lightsourcespartnership with global energy company bp, resulting in a 50:50 joint venture and the company rebranding to Lightsource bp. It plans to increase the capacity up to 8,000MW through projects in the Americas, India, Europe and the Middle East. It wouldve been easy to accuse BP of greenwashing. Yes, the market for energy worldwide is growing, but electricity as a subset is outpacing that in terms of its percentage. So, how much is Mary Louise Kelly worth at the age of 51 years old? Boyle says the company is ready to meet these challenges head on. Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, iPhone Maker Plans $700 Million India Plant in Shift From China, Stock Traders Are Ignoring Blaring Bond Alarms, Russia Is Getting Around Sanctions to Secure Supply of Key Chips for War. Dev Sanyal, BPs head of gas and low-carbon initiatives, and Lightsource BP CEO Nick Boyle discuss the past, present and future of their joint venture. Its time to start taxing shareholder payouts, Profits at worlds seven biggest oil firms soar to almost 150bn this year, British Museum urged to drop BP sponsor deal for Egypt exhibition, BPs joint solar venture Lightsource BP to more than double expansion by 2025. The wind industry is in a period of intensifying competition and shifting demand that requires a multi-faceted view of the global market. After what he calleda period of strategic introspection, which included scrutinizing35 companies,BPmade itsinitial $200 million investment in Lightsource in 2017, creating Lightsource BP. If that doesnt illustrate where weve come in 10 years, I dont know what does, he said. There are lots of tangible outcomes of hard work. He is not dating anyone. 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. It also has a 1.1 GW onshore wind portfolio in the U.S. Staff numbers will almost double from fewer than 600 at the start of the year. In the year thats followed, Boyle and chief operations officer Kareen Boutonnat have insisted that it remains business as usual, but with a capital B, as Boyle puts it. The performance of Lightsource BP's solar projects helped embolden BP's net-zero plans. This website uses cookies so that we can provide you with the best user experience possible. Nick Boyle, Lightsource Renewable Energy: Profile and Biography - Bloomberg Markets Bloomberg Terminal Demo Request Bloomberg Connecting decision makers to a dynamic network of information,. 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. 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. 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, Chief Executive Officer, Lightsource Renewable Energy. Having independence in how you do things, and working with people who really enjoy what they do, are some of the best parts of working for a small (ish) company. Within seven years Boyle had grown the company to a team of 300, with solar farms in Ireland, Netherlands, India and the US catching the eye of major players hoping to buy into the solar boom. Lightsource BP still manages the portfolio of installs in the UK, but sees this market as a longer-term play, usurped by markets like Australia where Lightsource BP has concentrated a not insignificant amount of resource as the countrys energy market battles spiralling network costs. Ongoing US sanctions against Chinas solar supply chain threaten to raise costs, and slow the pace of the industry globally. We see how Bembury is able to walk the line of business convention while taking his art to new heights, turning ordinary items into extraordinary footwear. Procurement agreement with US-based manufacturer. This confidence is also important to BPs shareholders, many of whom remain sceptical that the financial returns from renewable energy can compete with the cash generated from barrels of crude. Generous government subsidies were implemented to help get the emerging technology off the ground. Check out all of our energy storage resources. Lightsource BPs initial goal was to use the oil giants financial muscle to grow a 1.6 gigawatt pipeline of solar projects to a portfolio of 10GW of solar investments by 2023. BP has evidently lit something of a fire under Lightsources global ambitions, but not at least not yet given the firm aspirations of a more entrenched role in the energy market. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. This investment - Seed Round - Better Origin - was valued at $3M. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. Lightsource bp Renewable Energy Investments Limited. The company began with just six team members and rapidly grew to become one of Europe's leading solar developers and operators in just five years. 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. [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. You can directly influence, create and achieve things here, its what makes us different. As Lightsource BP continues its rapid growth across North, . And the relationship between BP and Lightsource has however gone further, and is now more symbiotic than anything else. Nick Boyle: You make me sound very impressive. PV is, in 60% of those countries the cheapest form of electricity generation. That growth shows new solar parks are still coming online despite the impact of the pandemic, while a global push for clean energy is opening opportunities in more countries, according to Chief Executive Officer and founder Nick Boyle. It was a deal that helped make Lightsource one of the fastest growing solar companies in the world, and provided BP with the clean-energy testbed it needed to propose one of the greatest transformation plans in corporate history. Lightsource bp Renewable Energy Investments Limited. Research and development spending and scope has increased since last year, and Lightsource Labs the main element of a wide-ranging R&D arm that spans from Greece to Palo Alto now examines everything from a 10-year range, something which Boutonnat described as a big step for the company. Nicks dynamic leadership and vision continues to drive the companys remarkable growth and international reach, growing from 5 to 20 markets since the bp partnership was inked, and now surpassing 1000 team members around the world. Lightsource BP salary income and net worth data provided by People Ai provides an estimation for any internet celebrity's real salary income and net worth like Lightsource BP based on real numbers. articles a month for anyone to read, even non-subscribers! Tom Allen is Completely committed to comedy and 'Auntie Glo', Weekend Q&A: ran Clarke from NI Opera's Nobody/Somebody, Mary Kelly: Unionists' tendency to turn a gift horse into a tin of dogmeat is legendary - and their Westminster chums are getting fed-up with it. BP's joint solar venture Lightsource BP, founded by Co Antrim man Nick Boyle, plans to more than double its global expansion by 2025 after clinching a financing deal worth $1.8bn (1.3bn) to develop enough solar farms to power the equivalent of 8.4 million homes.