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Ongoing US sanctions against Chinas solar supply chain threaten to raise costs, and slow the pace of the industry globally. Now Boyle is poised to set out how Lightsource will help power one of the biggest corporate transformations ever attempted. 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. 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. Where Will DOEs Loan Program Make the Next Climate Tech Investments? Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Weve got a predominantly [Organisation for Economic Co-operation and Development]-focused footprint at the moment. 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. 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. 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. He started his career in 2015. 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. 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.. Sodid BPs experience with Lightsource BP help it to formulate that strategy? This is always an amusing one for me, Boyle says. Nick is Global CEO and founder, starting up Lightsource Renewable Energy in 2010. 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. In 2010, Nick founded Lightsource Renewable Energy, then just a six-person start-up, which quickly grew over 5 . 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. 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. From my perspective, I find it amusing that people seem to be so focused on this number, because,for us, its not a challenge.. The project comprises 200,000 LONGi Solar photovoltaic panels ground-mounted across 240 acres (97 ha). Lightsource bp's Group CEO is Nick Boyle. He is not dating anyone. 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. Nick previously sat at Board and Senior Director level in a number of leading retail financial service companies. Check out all of our energy storage resources. Since then BP has brought in a new CEO, Bernard Looney, and discovered a renewed appetite for renewable energy. 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. 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. Nick, welcome, and thank you for taking the time to speak to us today. Through its involvement in the firm, BP has been able to fling open doors that Lightsource wouldve otherwise struggled to move by an inch. As Lightsource BP continues its rapid growth across North, . Lightsource BP won the offtake contract through a 450MW tender process. 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. 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. Paul McCartie, Group Chief Investment Officer. Free intelligence and insights from industry experts and leading companies on the global energy transformation. She is from Germany. 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. Lightsource BP, a solar developer part-owned by BP Plc, expects to add 570 employees around the world this year. If we're going to meet the commitments of the Paris Agreement, business as usual isn't going to cut it. 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. Boyle, predictably, doesnt buy the greenwashing argument, but has good reason not to. 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. Within 45 minutes at Lightsource BPs Holborn office, the same home its had for four years now, the impact BPs presence and position in the company has had is evident. 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. You can find out more about which cookies we are using or switch them off in settings. Theres no slowing down solar, he says. Boyle says the company is ready to meet these challenges head on. 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. 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. Founder Nick Boyle explains how Lightsource will help power one of the biggest corporate transformations ever attempted. 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? 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 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. His net worth has been growing significantly in 2021-2022. In 2017, Nick spearheaded Lightsourcespartnership with global energy company bp, resulting in a 50:50 joint venture and the company rebranding to Lightsource bp. 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. Nick Boyle, Lightsource Renewable Energy: Profile and Biography - Bloomberg Markets Bloomberg Terminal Demo Request Bloomberg Connecting decision makers to a dynamic network of information,. Claire Skinner: You are terribly impressive. This website uses cookies so that we can provide you with the best user experience possible. 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. Mary Louise Kelly's income source is mostly from being a successful Novelist. Nick Boyle Net Worth Nick Boyle's income source is mostly from being a successful Player. 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. Dating & Relationship status He is currently single. What the Frack Is Happening With Natural Gas Prices? Nick Boyle's net worth is currently estimated at $7 million. Investments are being made by the billion, not the million. 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. [2] At the same year, the company established teams in North America, the Netherlands and India. . 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. Yes, the market for energy worldwide is growing, but electricity as a subset is outpacing that in terms of its percentage. Nick Boyle: You make me sound very impressive. 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. 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. 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. [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]. So, how much is Mary Louise Kelly worth at the age of 51 years old? But it also sees the complementarity coming through from onshore and offshore wind, he said. 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.

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