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. Policy & regulation are aligning with renewables cost declines to make projects more profitable and portfolios more sustainable. Lightsource BP boss 'pinching' himself at thought of supermajor 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. 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. 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. Procurement agreement with US-based manufacturer. 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. Throughout his career, Nick has always been recognised for his entrepreneurial skill and success in pairing retail financial products with low-risk, predictable investments. 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. Nick Boyle Group CEO Nick is Global CEO and founder, starting up Lightsource Renewable Energy in 2010. In 2017, BP acquired a 43% stake in the company by investing $200million. 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. 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. 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. And big companies like Amazon, McDonald's and eBay are switching to clean energy. It has also agreed a deal to supply electricity to Amazon from an existing solar farm in Ohio, and to supply power to BP service stations from solar farms in New South Wales, Australia. 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. She is from Germany. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. The project comprises 200,000 LONGi Solar photovoltaic panels ground-mounted across 240 acres (97 ha). Lightsource bp's Group CEO is Nick Boyle. 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? It would be completely inappropriate for us to get all the upside and them to get some greenwashing. So absolutely it shaped our thinking;it shaped our approach. Boyle and the entire Lightsource team hasbeen generous in sharing their perspective on the energy transition, he added. 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. 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. Lightsource BP Founder: Nick Boyle How about Lightsource BP's number_of_employe? Where Will DOEs Loan Program Make the Next Climate Tech Investments? 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. [button target=blank link=https://careers.lightsourcebp.com]Search careers at Lightsource bp[/button]. With headquarters in London, the Lightsource is now active across EMEA, The Americas and APAC. But it also sees the complementarity coming through from onshore and offshore wind, he said. 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. 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. Within five years, Lightsource became Europe's largest solar player and operator. 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. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. But far be it from this to be a one-way relationship. PV is, in 60% of those countries the cheapest form of electricity generation. It also has a 1.1 GW onshore wind portfolio in the U.S. 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. Lightsource quickly became the largest developer in the country and then the continent. The performance of Lightsource BP's solar projects helped embolden BP's net-zero plans. We've moved from a cottage industry into an industrialized generator of what is globally, today, the cheapest form of electricity generation, said Boyle. Nick 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. Nick Boyle Nick Boyle Group CEO, Lightsource bp Published Dec 1, 2020 + Follow This month, our business becomes ten years old. . Personally, I find that half of the fun of my role is all that there is to do. Nick Boyle- Executive Bio, Work History, and Contacts - Equilar BoardEdge Lightsource bp Renewable Energy Investments Limited. Shared vision matters most when picking your business partner - LinkedIn Mary Louise Kelly Biography, Age, Height, Husband, Net Worth, Family Musk Made a Mess at Twitter. In that year, Lightsource BP also signed a 25-year power purchase and asset acquisition agreement with Mid-Kansas Electric Company in Stanton County, Kansas, United States. From small beginnings, the company has gone on to big things, now with activities in 14 countries. [citation needed]. 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. Deployment ramped up quickly, and between 2014 and 2016, the U.K. was the largest end market in Europe, overtakingGermany. So, how much is Mary Louise Kelly worth at the age of 51 years old? 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. But BPs Sanyal told GTM it never lost its interest in solar. 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. Lightsource, the solar arm of the global energy major BP, is looking at as much as $8 billion (Dh29.4bn) worth of projects worldwide as it looks to deploy 10 Gigawatts of capacity by 2023, according to its chief executive. Lightsource BP eyes projects worth $8 billion amid expansion plans Lightsource BP net worth and salary income estimation Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. This trend proves that renewables are mainstream and solar is playing a key role in addressing the climate crisis. The Grid Edge comprises technologies, solutions and business models advancing the transition toward a decentralized, distributed and transactive electric grid. The deal on the Lightsource deal | News and insights | Home - bp global If we're going to meet the commitments of the Paris Agreement, business as usual isn't going to cut it. The company was founded in 2010 as Lightsource Renewable Energy. Will His AI Plans Be Any Different? I Fully Converted a Home to Electricity. 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. More recently, its projects have been performing at the top end of that range, he said. He is a member of Lightsource bp's investment committee and a board director. Boyle has said on the record that Lightsource BP is already hitting 8 to10 percent as a global average. 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. 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. 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! [3] In 2011, the company's first solar park was established in Truro. Nick Boyle - Group CEO - Lightsource BP | LinkedIn 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. Floating solar, bifacial modules and the central versus string inverters debate sit on Lightsource BPs immediate R&D list at the moment. BP and Lightsource announced the partnership in December. 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. partnership with global energy company bp, resulting in a 50:50 joint venture and the company rebranding to Lightsource bp. With Lightsource now a decade oldand its partnership with BPinits fourth year,Lightsource BP CEO Nick Boyle and Dev Sanyal,BPs EVP for gas and low-carbon energy,spoke to GTM about their progress thus far and what the next 10years may hold. Today were building projects in the U.K. andselling the electricity for 0.04. A revolution in the renewable energy sector: The journey of Lightsource Nick founded Lightsource in 2010 as just a six-person start-up. 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 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. Nick Boyle Net Worth In answering a question aboutthat 8 to10percent figure duringitsQ2 investor call,CFO Murray Auchincloss told investors that BPthought it could get low-carbon returns well into the double-digit [percentage] range, althoughit wasnt ready to promise as much right now. Theres no slowing down solar, he says. Boyle, predictably, doesnt buy the greenwashing argument, but has good reason not to. In 2010 the British solar developer Lightsource was formed. John Parnell December 01, 2020 X Lightsource bp has an established track record in building and growing partnerships with investors over the last 10 years. 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. Why would we go to a market where BP arent, when we could go to a similar where they are, and get afforded all of that extra support, Boyle says. 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. 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. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Sodid BPs experience with Lightsource BP help it to formulate that strategy? Lightsource BP to double solar expansion by 2025 - Irish News This website uses cookies so that we can provide you with the best user experience possible. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. [citation needed] In 2013, Lightsource completed a 5MW rooftop solar PV installation at Bentley Motors' factory in Crewe. What the Frack Is Happening With Natural Gas Prices? 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. We are using cookies to give you the best experience on our website. Lightsource BP won the offtake contract through a 450MW tender process. In 2017, oil major BP took a 43 percent stake, which has since been converted into a full 50-50 joint venture. It might not be perfect in every case its not trying to be its trying to be part of the mix, he says. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. 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 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. And theres an abundance of evidence to support Boyles argument. 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. Youre not a small cog in a big wheel, youre an instrumental part of our success. Lightsource BP, a solar developer part-owned by BP Plc, expects to add 570 employees around the world this year. Weve got a predominantly [Organisation for Economic Co-operation and Development]-focused footprint at the moment. He said BP's investment in the firm he founded was a "complete game changer" - especially since. 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. 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. 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. 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. 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. Lightsource bp secures leading renewable finance expert as Group CFO If we compare what BP is like to what our previous [funders] were like, there is no comparison. People who compare the returns on solar with oil and gas miss the fact that theyre comparing an apple to a fish.. Other executives include Kevin Smith, CEO Americas; Kareen Boutonnat, CEO of Europe and International and 11 others. 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. 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. Nick is Global CEO and founder, starting up Lightsource Renewable Energy in 2010. Nick Boyle's income source is mostly from being a successful Player. David Westin speaks with top names in finance about the week's biggest issues on Wall Street.