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. [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]. In truth, as Lightsource BP chief exec Nick Boyle tells Current, the deal was agreed a few weeks previous, but the 12 months (and two weeks) since 15 December 2017 have been nothing short of transformative for the company. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. If we're going to meet the commitments of the Paris Agreement, business as usual isn't going to cut it. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Lightsource group CEO and founder Nick Boyle said: "We founded Lightsource to lead the solar revolution and chose to partner with BP because, like us, their ambition is to build and grow this company for the long-term. In his role as Group CEO, Nick's dynamic leadership and vision has driven the company to tremendous success and in December 2017, Lightsource announced a strategic partnership with BP. The project comprises 200,000 LONGi Solar photovoltaic panels ground-mounted across 240 acres (97 ha). Nick Boyle, group CEO, also described the market potential of solar as "absolutely ridiculous". 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. Nick founded Lightsource in 2010 as just a six-person start-up. Solar energy is expected to play a crucial role in helping BP meet its 2030 renewable energy target because solar farms can be rolled out far quicker than its plans to build offshore wind farms by the second half of the decade. Shell snapped up US developer Silicon Ranch mere weeks after the Lightsource BP deal was announced, and both Orsted (formerly DONG) and Equinor (formerly Statoil) have spoken of solar ambitions. Free intelligence and insights from industry experts and leading companies on the global energy transformation. Far be it from us to remark that a fossil fuel company may have blazed a trail, but the new direction of travel is stark. 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 can directly influence, create and achieve things here, its what makes us different. Were not on the trajectory we imagined 10 years ago, but were definitely not complaining. All rights reserved. Up to 2010, he spent six years in the power finance team at Investec Bank, and prior to this Paul was Assistant Director of project finance at Rolls-Royce Power Ventures, an independent power project developer based in London. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. [button target=blank link=https://careers.lightsourcebp.com]Search careers at Lightsource bp[/button]. The company was founded in 2010 as Lightsource Renewable Energy. This website uses cookies so that we can provide you with the best user experience possible. Since last December operations have been opened in Egypt and Brazil amongst others, and the company is now active in 11 jurisdictions worldwide. . But BPs Sanyal told GTM it never lost its interest in solar. See the full leadership team at Craft. [7], In 2022 Lightsource BP raised $A540 million to develop two new zero emission projects in the Australian states of New South Wales and Victoria. Watch the CIBC video featuring our Global CEO, Nick Boyle, on how we're helping fight climate change through responsible development of solar energy projects. The launch fund for EverSource Capital was the Green Growth Equity Fund, which has a fundraising target of 500million and joint anchor investments from the UK Government and the India's National Investment and Infrastructure Fund, with a commitment of 120million each. She is from Germany. "The target is 10GW by 2023," Nick Boyle told The National in an interview in Abu Dhabi. TE Nick Boyle earned $25,785,075 in his NFL career. This idea of 'build back better'is actually how you can createthe energy industry, the future, rather than just the past.. But it also sees the complementarity coming through from onshore and offshore wind, he said. 2023 Greentech Media or its affiliated companies. You can find out more about which cookies we are using or switch them off in settings. 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. Throughout his career, Nick has always been recognised for his entrepreneurial skill and success in pairing retail financial products with low-risk, predictable investments. We are using cookies to give you the best experience on our website. One year on: How BP transformed Lightsource, and vice versa Lightsource BP to Hire Hundreds for Global Solar Expansion Lightsource bp Renewable Energy Investments Limited. Lightsource bp Global CEO Nick Boyle speaks about the company's ambitious new target, and how they plan to achieve 25GW by 2025.----- Learn more about u. He says BP has been a breath of fresh air and has brought to the table other elements that the company may have previously lacked. 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. N ick Boyle, the founder and chief executive of solar power giant Lightsource BP, is striding through its central London headquarters speaking as quickly as he walks. In 2017, oil major BP took a 43 percent stake, which has since been converted into a full 50-50 joint venture. Boyle is straightforward in his assertion that the two letters at the end of the name make Lightsource BP a sexier proposition than before. 21 September, 2021 01:00 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. In 2010 the British solar developer Lightsource was formed. Solar developer expects to take on 570 new employees this year, Its moving into markets such as South Korea and New Zealand, Photographer: Mike Plonsky/Lightsource BP. Europe, Menlo Park, China), This describes the type of investor the person is (e.g. According to our Database, He has no children. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. In 2017, Nick spearheaded Lightsourcespartnership with global energy company bp, resulting in a 50:50 joint venture and the company rebranding to Lightsource bp. On this Wikipedia the language links are at the top of the page across from the article title. Lightsource bp Global CEO Nick Boyle speaks about the company's ambitious new target, and how they plan to achieve 25GW by 2025.-------------------------------------------------- Read more about: Lightsource bp - an international solar business: https://www.lightsourcebp.com/ Our innovative solar farms and solar energy projects: https://www.lightsourcebp.com/projects/ How we contribute to global sustainability through responsible solar projects: https://www.lightsourcebp.com/sustainability/ Latest news and insights about renewable energy and our solar power projects: https://www.lightsourcebp.com/news/ Our career opportunities and culture: https://www.lightsourcebp.com/careers/ ---------------------------------------------- Follow us on: Twitter: https://twitter.com/lightsourcebpLinkedIn: https://www.linkedin.com/company/lightsourcebpInstagram: https://www.instagram.com/lightsourcebp ---------------------------------------------- Subscribe to our YouTube channel: https://www.youtube.com/user/LightsourceSolar Watch our project videos: https://www.youtube.com/watch?v=APeV6w3NJXU\u0026list=PLBvK2q4_2ziphjtA764FSS5D9csdmVUvi Watch our educational videos: https://www.youtube.com/watch?v=XwdKPNRIWls\u0026list=PLBvK2q4_2ziqGufApfrbMHHSTcmNOemYO -------------------------------------------------- About Lightsource bp: Lightsource bp is an international solar business. 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. 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. When we laid out the Reimagining Energy strategy, the only speaker, other than our CEO Bernard Looney, was Nick Boyle. That wasn't due to a dearth of other speakers BP could have picked, he joked, but because Boyle could "demonstrate what we had done that had given us confidence for the future. 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. 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. 'The potential for solar is huge': future looks bright for Lightsource What would you like to know about Nick Boyle? Nick Boyle: You make me sound very impressive. Staff numbers will almost double from fewer than 600 at the start of the year. From that initial conversation, everything sort of snowballed and took on a life of its own. 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. Lightsource bp turns 10 | News and insights | Home Then again, whenever the industry thinks the forecasted pace of change is too fast, it always ends up happening way, way faster," he said. And theres an abundance of evidence to support Boyles argument. As Lightsource BP continues its rapid growth across North, . We know that the sun will come up and the sun will go down so were essentially creating an annuity of very predictable generation multiplied by a fixed price that has already been agreed with some of the largest companies in the world.. BP is evidently opening doors not just in new markets but, as Boyle puts it, those two letters on the end of the name just completely change the way individuals read what theyre doing. Lightsource bp CEO and key executive team | Craft.co Its an advantage that other solar developers are simply not privy to, but one Boyle is not shy about taking up. It worked. Nick Boyle invested in Better Origin on Feb 23, 2021. In 2010, Nick founded Lightsource Renewable Energy, then just a six-person start-up, which quickly grew over 5 . Lightsource BP net worth and salary income estimation 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. Nick Boyle Net Worth Making light work - 10 years of solar success - LinkedIn [3] In 2011, the company's first solar park was established in Truro. Boyle says the company is ready to meet these challenges head on. He is a member of Lightsource bp's investment committee and a board director. Lightsource BPs Vendimia solar project in Spain. It wouldve been easy to accuse BP of greenwashing. Lightsource BP still looks at the world in much the same way that it previously had, but now with an additional BP lense that lifts its ambitions. And the relationship between BP and Lightsource has however gone further, and is now more symbiotic than anything else. Lightsource BP - Wikipedia Yes, the market for energy worldwide is growing, but electricity as a subset is outpacing that in terms of its percentage. [6] The company was accordingly renamed Lightsource BP. Jobs Number of Current Jobs 1 Nick Boyle is the Founder and CEO at Lightsource Renewable Energy. Lightsource bp Renewable Energy Investments Limited. 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. BP and Lightsource announced the partnership in December. Weve got a predominantly [Organisation for Economic Co-operation and Development]-focused footprint at the moment. UK Government unveils 5 million Heat Training Grant as skills shortage concerns grow, OVO launches EV charging tariff three times cheaper than UK average, Shapps sets out objectives for DESNZ at crucial turning point for Britains energy resilience, DESNZ must review plans to achieve offshore wind and nuclear targets, says National Audit Office, Ofgem publishes proposals for a new local, flexible energy system. If we compare what BP is like to what our previous [funders] were like, there is no comparison. 2010 still feels like yesterday to me, when six of us gathered in the . How Lightsource Inspired BP's Low-Carbon Pivot - Greentech Media . Global wind and solar power capacity grew at record rate in 2020, Original reporting and incisive analysis, direct from the Guardian every morning. Where Will DOE's Loan Program Make the Next Climate Tech Investments? Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Now Boyle is poised to set out how Lightsource will help power one of the biggest corporate transformations ever attempted. The stellar-growth operation had initially set a target to develop arrays of panels with a total capacity of 10 gigawatts by 2023, enough for almost 3.4 million homes. Paul McCartie, Group Chief Investment Officer. Dev Sanyal, BP's head of gas and low-carbon initiatives, and Lightsource BP CEO Nick Boyle discuss the past, present and future of their joint venture. At 28 years old, Nick Boyle height is 193 cm and Weight 122 kg. Commenting on the announcement, Nick Boyle, Lightsource BP CEO, said: "We are delighted to welcome Kevin to Lightsource BP. 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. That much is borne out from watching developments in the market that have followed BPs own move. Check out all of our energy storage resources. Tomorrow marks one year to the day since BP announced a US$200 million (148 million) investment in solar developer Lightsource, in a move which saw the energy giant return to the solar sector by picking up a 43% stake in the London-based firm. Musk Made a Mess at Twitter. The potential for Lightsource BP appears to be just as bright. And fresh business brings fresh growth. Boyle said the companyreceived 14 bids,seven of themfrom oil and gas companies. Nick is Global CEO and founder, starting up Lightsource Renewable Energy in 2010. Staff numbers will almost double from fewer than 600 at the start of the year. 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. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. His responsibilities include debt and equity fundraising for all solar asset developments, project investment structuring and M&A. Lightsource BP is part of an exploratory project in Australia to develop a wind- and solar-powered green hydrogen export hub of up to 1.5 GW. The project comprises 200,000LONGi Solar photovoltaic panels ground-mounted across 240 acres (97ha). 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. Paul co-founded the company in 2010. I already had experience in renewables in Europe, and it was clear to me that there was a great opportunity and a lot of potential in the proposition in the UK. 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. BPs interest in Lightsource first crystallised within an external funding opportunity which was led by Rothschilds. Deployment ramped up quickly, and between 2014 and 2016, the U.K. was the largest end market in Europe, overtakingGermany. It might not be perfect in every case its not trying to be its trying to be part of the mix, he says. By the same analogy investing in solar would be like digging a hole and knowing how much oil is there, how much it will cost and how much youll be paid for it before you start, Boyle says. Mary Louise Kelly Biography, Age, Height, Husband, Net Worth, Family Lightsource is routinely mentioned within BPs messaging and Boyle says this is all down to the majority of oil and gas companies realising that energy markets are changing worldwide. 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 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, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Climate Change Is Launching a MutantSeed Space Race, UK Braces for Rare Weather Event That Risks Late-Winter Freeze, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? The former financial services executive founded the company, then known as Lightsource Renewable Energy, at the end of 2010 with five employees and a solar farm in Truro, Cornwall, capable of generating enough electricity to power 430 homes. 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 BP, like most, if not all, solar developers in the UK active since 2015, endured some troubled times as the Conservative axe fell on a whole range of subsidies following their election in May 2015. His responsibilities include debt and equity fundraising for all solar asset developments, project investment structuring and M&A. With headquarters in London, the Lightsource is now active across EMEA, The Americas and APAC. Lightsource BP Appoints Kevin Smith as CEO for the Americas - PR Newswire The oil giant'searly forays into solar manufacturing weren't well aligned with its core business and endedin 2011. Rebranded as Lightsource BP, the company has committed to aggressively accelerate the low carbon transition, and this powerhouse partnership is set to shape . Within five years, Lightsource became Europe's largest solar player and operator. He started his career in 2015. But not even in my wildest dreams would I have assumed that it was going to rise at the pace that it has, Boyle says. From small beginnings, the company has gone on to big things, now with activities in 14 countries.