Lightsource bp secures leading renewable finance expert as Group CFO Jobs Number of Current Jobs 1 Nick Boyle is the Founder and CEO at Lightsource Renewable Energy. The joy of working for Lightsource bp is having the freedom and the responsibility to go out and achieve things. Boyle puts these achievements not just to thinking outside of the box, but by industrialising and introducing real business systems, controls and processes to what was essentially a cottage industry when he founded the business in 2010. All rights reserved. We already have momentum, Boyle says. 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. Energy Leaders Talks: Nick Boyle - Group CEO, Lightsource BP Net Worth in 2022: $1 Million - $5 Million: Salary in 2022: Under Review . 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. 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. 2023 Lightsource. 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 Appoints Kevin Smith as CEO for the Americas - PR Newswire In his role as Group CEO, Nicks dynamic leadership and vision has driven the company to tremendous success and in December 2017, Lightsource. The Grid Edge comprises technologies, solutions and business models advancing the transition toward a decentralized, distributed and transactive electric grid. Where Will DOEs Loan Program Make the Next Climate Tech Investments? We knew that the interest in solar and renewables was going to rise. In 2018, the company completed its first international installation, a 60MW solar farm in Maharashtra, India. 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. In 2018, the company completed its first international installation, a 60 MW solar farm in Maharashtra, India. 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. It wouldve been easy to accuse BP of greenwashing. Partner with us | Sustainable Renewable Energy | Lightsource bp Lightsource BP was one of the companies that sourced their panels and components from the companies linked to Xinjiang, albeit prior to 2016 when the state-sanctioned abuse of Uyghur communities began to gain international attention. 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. This investment - Seed Round - Better Origin - was valued at $3M. 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. [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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Floating solar, bifacial modules and the central versus string inverters debate sit on Lightsource BPs immediate R&D list at the moment. From that initial conversation, everything sort of snowballed and took on a life of its own. Lightsource BP won the offtake contract through a 450 MW tender process. 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. 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. See the full leadership team at Craft. 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. Carbon Recycling: Microbes, Jet Fuel and Leggings. It plans to increase the capacity up to 8,000MW through projects in the Americas, India, Europe and the Middle East. Were not on the trajectory we imagined 10 years ago, but were definitely not complaining. Nick founded Lightsource in 2010 as just a six-person start-up. Three years ago nobody was talking about green hydrogen in any great degree of analysis,Sanyal said. As a leading global solar developer, and 50:50 bp partner, we are rapidly scaling-up to help meet the rising demand for reliable electricity, while supporting the global energy transition to net zero. It worked. Today were building projects in the U.K. andselling the electricity for 0.04. Ask the dentist: Why can some people not cope with the word 'fat'? We are using cookies to give you the best experience on our website. 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. I was talking to Accenture recently. Thats whenLightsource recognizedthat the sector was ready to industrializeand that it would need a partner to do so, which led it to approach the investment bank Rothschild. The current position, the cost efficiency of subsidy-free solar, the competitiveness with fossil fuels, the stability of the market Not many people saw this coming! [citation needed]. How Lightsource Inspired BP's Low-Carbon Pivot - Greentech Media Nick Boyle's Net Worth (2022), Wiki And More Facts The numbers illustrate the point rather well. I Fully Converted a Home to Electricity. 2023 Lightsource. 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. That much is borne out from watching developments in the market that have followed BPs own move. Where Will DOE's Loan Program Make the Next Climate Tech Investments? Check out all of our energy storage resources. In 2017, BP acquired a 43% stake in the company by investing $200million. His responsibilities include debt and equity fundraising for all solar asset developments, project investment structuring and M&A. [8], As of 2018, Lightsource BP has commissioned 1,300MW of solar capacity and manages about 2,000MW of solar capacity. This website uses cookies so that we can provide you with the best user experience possible. 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. Then again, whenever the industry thinks the forecasted pace of change is too fast, it always ends up happening way, way faster," he said. All rights reserved. Procurement agreement with US-based manufacturer. Europe, Menlo Park, China), This describes the type of investor the person is (e.g. Lightsource BP, a solar developer part-owned by BP Plc , expects to add 570 employees around the world this year. Now Boyle is poised to set out how Lightsource will help power one of the biggest corporate transformations ever attempted. John Parnell December 01, 2020 X The company began with just six team members and rapidly grew to become one of Europes leading solar developers and operators in just five years. 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. The performance of Lightsource BP's solar projects helped embolden BP's net-zero plans. As Lightsource BP continues its rapid growth across North, . We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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. Group chief executive Nick Boyle said: Globally, renewable energy is shifting from a mindset of gigawatts to terawatts. Nick Boyle Biography, Age, Height, Wife, Net Worth, Family 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. From small beginnings, the company has gone on to big things, now with activities in 14 countries. The fact that we are able to deliver with confidence allows BP to believe that their early 2025 [interim target] is actually doable predominantly through solar, and thats important to them.. Will His AI Plans Be Any Different? England Companies With Less Than $1B in Revenue (Top 10K), United Kingdom Companies With Fewer Than 1000 Employees (Top 10K), Solar Companies With Less Than $1B in Revenue, Solar Companies With Less Than $500M in Revenue, Energy Companies With More Than $50M in Revenue, Caisse de Depot et Placement du Quebec Portfolio Companies, Energy Companies With More Than $10M in Revenue, Renewable Energy Companies With Fewer Than 1000 Employees (Top 10K), Number of portfolio companies associated to the Person, Number of Organizations that the person founded, The organization associated to the person's primary job, Where the person is located (e.g. What the Frack Is Happening With Natural Gas Prices? Nick Boyle invested in Better Origin on Feb 23, 2021. 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. 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. 2023 Greentech Media or its affiliated companies. Boyle insists that it is therefore common sense that O&G firms are getting involved in solar, describing it as a natural progression for the organisations. 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. 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. Boutonnat is perhaps a little more nuanced in her argument that its BPs globalisation that brings people to the seventh floor at 33 Holborn, and the sense that, in pursuing markets where subsidies are not granted or required, Lightsource is more in charge of its own destiny than it was before. But BPs Sanyal told GTM it never lost its interest in solar. Nick Boyle's net worth is currently estimated at $7 million. 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. 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. He said BP's investment in the firm he founded was a "complete game changer" - especially since. Lightsource BP won the offtake contract through a 450MW tender process. [citation needed], In 2019, BP increased its stake in Lightsource BP to 50%. Nick Boyle contract and salary cap details, including signing bonus, guaranteed salary, dead money, roster bonuses, and contract history. What would you like to know about Nick Boyle? 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. 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. This itself is causing something of a headache for the firms HR team, one thats been somewhat exacerbated by the level of interest the company is now generating from would-be hires. With headquarters in London, the Lightsource is now active across EMEA, The Americas and APAC. Nick Boyle Net Worth 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. 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. Lightsource BP net worth and salary income estimation David Westin speaks with top names in finance about the week's biggest issues on Wall Street. All rights reserved. [1][2] 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. Couldn't agree more Nick, also amazing that BP is the first super-major energy company to make such a commitment. 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 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. Staff numbers will almost double from fewer than 600 at the start of the year. Theres no slowing down solar, he says. He is not dating anyone. 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. You can directly influence, create and achieve things here, its what makes us different. Rebranded as Lightsource BP, the company has committed to aggressively accelerate the low carbon transition, and this powerhouse partnership is set to shape . More recently, its projects have been performing at the top end of that range, he said. 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. To reinforce that it wasnt a one-trick pony, as heput it, Lightsourceexpanded to the U.S. and Indiaand found that the fundamentals of land, grid, permitting and planning held true. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Claire Skinner: You are terribly impressive. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. 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. Global wind and solar power capacity grew at record rate in 2020, Original reporting and incisive analysis, direct from the Guardian every morning. [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. Joined 2010, UK I co-founded Lightsource in 2010, and the whole thing came about almost completely by accident. There are lots of tangible outcomes of hard work. Batteries are helping to optimize the power grid and opening up new applications and services for utilities and service providers. A revolution in the renewable energy sector: The journey of Lightsource The culture of Lightsource bp is one of the things Im most proud of. 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. 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. That confidence that Lightsource BP has fed into that new strategy can also be illustrated through the numbers. 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. If we're going to meet the commitments of the Paris Agreement, business as usual isn't going to cut it. Mary Louise Kelly's income source is mostly from being a successful Novelist. The deal on the Lightsource deal | News and insights | Home - bp global Ongoing US sanctions against Chinas solar supply chain threaten to raise costs, and slow the pace of the industry globally. BP has partnered with offshore wind giant rsted to provide green hydrogen for a refinery in Germany, initially a 50 MW electrolyzer, with a plan ofscaling to 500 MW. 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. I remember speaking at one of your [Current publisher Solar Media] conferences in 2011 and I stood up and announced that Lightsource was going to do 300MW, and there wasnt anyone in the room that wasnt on the floor laughing. Nick Boyle, group CEO, also described the market potential of solar as "absolutely ridiculous". Nick Boyle- Executive Bio, Work History, and Contacts - Equilar BoardEdge The oil giant'searly forays into solar manufacturing weren't well aligned with its core business and endedin 2011. Nick Boyle | Lightsource bp Boyle says the company is ready to meet these challenges head on. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. In February of this year, BP announced its intention to reachnet-zero carbon emissions by 2050 and revealedfurther details during a Septembercapital markets event. After what he calleda period of strategic introspection, which included scrutinizing35 companies,BPmade itsinitial $200 million investment in Lightsource in 2017, creating Lightsource BP. Lightsource BP Completes Financing on 260 MW Solar Project in Texas Mary Louise Kelly Biography, Age, Height, Husband, Net Worth, Family 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. Lightsource bp turns 10 | News and insights | Home And yet, thats exactly what we did.. After all, US$200 million is short change for a company whose total group profits for the 2017/18 financial year topped $2.5 billion. Thats not to say there isnt anything that BP hasnt introduced to Lightsource on a professional level. It would be completely inappropriate for us to get all the upside and them to get some greenwashing. Thats a very different bet to digging a hole and wondering whether youll hit gas or oil, and how much, and what itll cost to get it out, and what the market price will be when you get it out, he says. Sodid BPs experience with Lightsource BP help it to formulate that strategy? In 2017, oil major BP took a 43 percent stake, which has since been converted into a full 50-50 joint venture. We are using cookies to give you the best experience on our website. Nick Boyle, Lightsource Renewable Energy: Profile and Biography Nick, welcome, and thank you for taking the time to speak to us today. Following the completion of the transaction, the company will be renamed Lightsource BP. People who compare the returns on solar with oil and gas miss the fact that theyre comparing an apple to a fish.. Jake O'Kane: Is the DUP really going to sink the Assembly and reject the Windsor Framework? 'The potential for solar is huge': future looks bright for Lightsource It might not be perfect in every case its not trying to be its trying to be part of the mix, he says. Free intelligence and insights from industry experts and leading companies on the global energy transformation. EGYPS 2019 - Nick Boyle, CEO, Lightsource BP - YouTube 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. Lightsource BP eyes projects worth $8 billion amid expansion plans 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. I was still working in my previous role while Nick gathered support for the concept, and then things fell into place and all of a sudden we had a new business! Lightsource BP to Hire Hundreds for Global Solar Expansion In 2010, Nick founded Lightsource Renewable Energy, then just a six-person start-up, which quickly grew over 5 . If we compare what BP is like to what our previous [funders] were like, there is no comparison. Boyle said the companyreceived 14 bids,seven of themfrom oil and gas companies. Lightsource BP to double solar expansion by 2025 - Irish News . Nick Boyle: You make me sound very impressive. 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. [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]. Learn how and when to remove this template message, National Investment and Infrastructure Fund, "Solar farm to provide third of Belfast International Airport's power", "BP returns to solar with investment in Lightsource", "Shiny panels and a sure thing, Nick's story", "Bentley, Lightsource in Rooftop Solar Power Project", "Europe's largest floating solar farm powers up", "BP Re-Enters Solar Power Market With $200 Million U.K. Deal", "Lightsource BP to accelerate global solar growth with further investment from BP", "Lightsource bp secures $540m funding for solar developments", https://en.wikipedia.org/w/index.php?title=Lightsource_BP&oldid=1129683911, Renewable resource companies established in 2010, Articles needing additional references from November 2020, All articles needing additional references, Articles with unsourced statements from December 2017, Articles with unsourced statements from September 2020, Creative Commons Attribution-ShareAlike License 3.0, Development and operation of solar power farms, This page was last edited on 26 December 2022, at 17:05. articles a month for anyone to read, even non-subscribers! And big companies like Amazon, McDonald's and eBay are switching to clean energy. In 2010, Nick founded Lightsource Renewable Energy, then just a six-person start-up, which quickly grew over 5 years to become Europes largest solar developer and operator and a recognised global leader. [2] At the same year, the company established teams in North America, the Netherlands and India. EGYPS 2019 - Nick Boyle, CEO, Lightsource BP - YouTube EGYPS TV interviews Nick Boyle, CEO, Lightsource BP EGYPS TV interviews Nick Boyle, CEO, Lightsource BP. It takes a lot of energy. 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. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. 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