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. 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. 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. And big companies like Amazon, McDonald's and eBay are switching to clean energy. Lightsource bp Renewable Energy Investments Limited. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. As we add more countries, and therefore a higher percentage of non-OECD [geographies], our assumption is that those average returns will actually go up, said Boyle. So you founded Lightsource in 2010. So, how much is Nick Boyle worth at the age of 29 years old? Policy & regulation are aligning with renewables cost declines to make projects more profitable and portfolios more sustainable. [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. Through its involvement in the firm, BP has been able to fling open doors that Lightsource wouldve otherwise struggled to move by an inch. This trend proves that renewables are mainstream and solar is playing a key role in addressing the climate crisis. Nick Boyle Nick Boyle Group CEO, Lightsource bp Published Dec 1, 2020 + Follow This month, our business becomes ten years old. Boyle said the companyreceived 14 bids,seven of themfrom oil and gas companies. Dating & Relationship status He is currently single. Boyle is straightforward in his assertion that the two letters at the end of the name make Lightsource BP a sexier proposition than before. Nick Boyle founded Lightsource Renewable Energy in 2010 with five employees and a solar farm in Truro, Cornwall. 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. 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. He said BP's investment in the firm he founded was a "complete game changer" - especially since. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. If we compare what BP is like to what our previous [funders] were like, there is no comparison. TE Nick Boyle earned $25,785,075 in his NFL career. Green hydrogen is the perfect example of this. The project comprises 200,000 LONGi Solar photovoltaic panels ground-mounted across 240 acres (97 ha). Were not on the trajectory we imagined 10 years ago, but were definitely not complaining. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. 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. Nick previously sat at Board and Senior Director level in several leading retail financial service companies. Ask the dentist: Why can some people not cope with the word 'fat'? 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. Nick Boyle invested in Better Origin on Feb 23, 2021. It would be completely inappropriate for us to get all the upside and them to get some greenwashing. The oil giant'searly forays into solar manufacturing weren't well aligned with its core business and endedin 2011. 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.. 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. 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. Throughout his career, Nick has always been recognised for his entrepreneurial skill and success in pairing retail financial products with low-risk, predictable investments. Carbon Recycling: Microbes, Jet Fuel and Leggings. 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. BP'sSeptembercapital markets eventalso revealed more details on the extent of the company'srenewable options. Lightsource BP Founder: Nick Boyle How about Lightsource BP's number_of_employe? The one concern I dont have is a poverty of options., The pace of the energy transitions prospects hasbeen accelerated by COVID," he added. Sodid BPs experience with Lightsource BP help it to formulate that strategy? Suddenly, government-backed energy offtakers and bankable counterparties alike are keener to do business. March 19, 2020 10:00 AM Eastern Daylight Time SAN FRANCISCO-- ( BUSINESS WIRE )--Lightsource BP, a global solar leader, today announced that it has successfully closed on a $250 million financing. 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. Back in 2010, I couldnt have imagined the solar industry we find ourselves in now. So, how much is Mary Louise Kelly worth at the age of 51 years old? We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Musk Made a Mess at Twitter. Within five years, Lightsource became Europe's largest solar player and operator. Paul co-founded the company in 2010. It takes a lot of energy for one man to make a sprawling office emptied by Covid-19 feel alive, but the Irishman has more than enough for the job. Check out Lightsource BP's net worth in US Dollar Aug, 2022. . And fresh business brings fresh growth. [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. Lightsource BP, rebranded from Lightsource Renewable Energy in 2018, is the largest solar developer in Europe, and third largest in the world outside of China. 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.. 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. 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. [button target=blank link=https://careers.lightsourcebp.com]Search careers at Lightsource bp[/button]. 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. Thats not to say there isnt anything that BP hasnt introduced to Lightsource on a professional level. 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. 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. The joy of working for Lightsource bp is having the freedom and the responsibility to go out and achieve things. That confidence that Lightsource BP has fed into that new strategy can also be illustrated through the numbers. 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. He is a member of Lightsource bp's investment committee and a board director. He started his career in 2015. 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. 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. Weve got a predominantly [Organisation for Economic Co-operation and Development]-focused footprint at the moment. With an Energy Crisis Brewing, No Peak in Sight for Emissions, Why TransitTech Is So Vital to Struggling Public Transportation Systems. 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. Cardiff see off Bristol City for impressive derby win, Ange Postecoglou feels Viaplay Cup win has sharpened competition at Celtic. Floating solar, bifacial modules and the central versus string inverters debate sit on Lightsource BPs immediate R&D list at the moment. In 2018, the company completed its first international installation, a 60MW solar farm in Maharashtra, 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. Nick Boyle, group CEO, also described the market potential of solar as "absolutely ridiculous". 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. 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. 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. 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. 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. But for now, Lightsource BP makes up 83 percent of its 20 GWdevelopment pipeline, withanother 21 GW of what it calls early-stage options.Sanyal said he expectsthe initial 20 GW target for 2025 to be largely serviced by solar,with more diversification coming for the 50 GW goal set for 2030. All rights reserved. At the company'sSeptembercapital markets event, Sanyal presented a slide demonstrating how BP planned to get 8 to10 percent returns from low-carbon electricity of all forms. Two years later that stake was increased to create the 50:50 joint venture in place today. 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. 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. #renewableenergy #solarenergy #wearelightsourcebp #BeTheChange #solar #Lightsourcebp #netzero #cleanenergy 2023 Greentech Media or its affiliated companies. According to our Database, He has no children. [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. 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. It might not be perfect in every case its not trying to be its trying to be part of the mix, he says. Nick Boyle, Lightsource Renewable Energy: Profile and Biography - Bloomberg Markets Bloomberg Terminal Demo Request Bloomberg Connecting decision makers to a dynamic network of information,. Lightsource bp Renewable Energy Investments Limited. [6] The company was accordingly renamed Lightsource BP. In 10 years, Lightsource bp (LSbp) has gone from feisty start-up to shining light on the solar scene. [2] At the same year, the company established teams in North America, the Netherlands and India. 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. You can find out more about which cookies we are using or switch them off in settings. If that doesnt illustrate where weve come in 10 years, I dont know what does, he said. 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. 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. Boyle was drawn to the solar industry from a background in retail financial services, selling a little bit to a lot of people, because he recognised solar powers long-term predictable returns as the Holy Grail of small volume investments. In 2017, BP acquired a 43% stake in the company by investing $200million. In his role as Group CEO, Nicks dynamic leadership and vision has driven the company to tremendous success and in December 2017, Lightsource. You can directly influence, create and achieve things here, its what makes us different. (Credit: BP). 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. [citation needed], In 2018, Lightsource BP formed EverSource Capital, a partnership with Everstone Group to create a major fund management platform for green energy infrastructure in India. Joined 2010, UK I co-founded Lightsource in 2010, and the whole thing came about almost completely by accident. 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. Following the completion of the transaction, the company will be renamed Lightsource BP. Nick Boyle Net Worth For a company that has extensive experience in developing, managing and operating huge amounts of renewable power generation, coupled with an R&D arm developing new domestic energy management systems and, now, the backing of a major utility, its perhaps an easy assumption to make that Lightsource BP might have vertical integration on its mind. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. It also has a 1.1 GW onshore wind portfolio in the U.S. Lightsource BP won the offtake contract through a 450MW tender process. 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. 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. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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. Musk Made a Mess at Twitter. With headquarters in London, the Lightsource is now active across EMEA, The Americas and APAC. See the full leadership team at Craft. Boyle says the company is ready to meet these challenges head on. And the relationship between BP and Lightsource has however gone further, and is now more symbiotic than anything else. Check out all of our energy storage resources. The company has rebranded to Lightsource BP in affirmation of this powerhouse commitment which is set to shape the future of global energy delivery. 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. This idea of 'build back better'is actually how you can createthe energy industry, the future, rather than just the past.. 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. 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. 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. We are using cookies to give you the best experience on our website. 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 years to become Europes largest solar developer and operator and a recognised global leader. It plans to increase the capacity up to 8,000MW through projects in the Americas, India, Europe and the Middle East. 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. 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's Group CEO is Nick Boyle. 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. Net Worth in 2022: $1 Million - $5 Million: Salary in 2022: Under Review . It is less than a year since the oil corporation BP, the ventures joint-owner, thrust it into the spotlight by unveiling plans to grow its renewable energy generation 20-fold within this decade. View the executive profile of Nick Boyle, Group Chief Executive Officer at Lightsource Renewable Energy, on Equilar BoardEdge to see current and past work history and gain access to Nick Boyle's network of 5 business contacts. With headquarters in London, the Lightsource is now active across EMEA, The Americas and APAC. Now Boyle is poised to set out how Lightsource will help power one of the biggest corporate transformations ever attempted. Lightsource quickly became the largest developer in the country and then the continent. 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. Will His AI Plans Be Any Different? This investment - Seed Round - Better Origin - was valued at $3M. This is always an amusing one for me, Boyle says. From that initial conversation, everything sort of snowballed and took on a life of its own.
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