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. It would be completely inappropriate for us to get all the upside and them to get some greenwashing. . 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. This trend proves that renewables are mainstream and solar is playing a key role in addressing the climate crisis. Nick is Global CEO and founder, starting up Lightsource Renewable Energy in 2010. 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. Following the completion of the transaction, the company will be renamed Lightsource BP. "The target is 10GW by 2023," Nick Boyle told The National in an interview in Abu Dhabi. [8], As of 2018, Lightsource BP has commissioned 1,300MW of solar capacity and manages about 2,000MW of solar capacity. Nick Boyle Nick Boyle Group CEO, Lightsource bp Published Dec 1, 2020 + Follow This month, our business becomes ten years old. 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. Lightsource bp Renewable Energy Investments Limited. 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. That confidence that Lightsource BP has fed into that new strategy can also be illustrated through the numbers. 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. 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 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. This is about, from a business perspective, both of us winning. BP and Lightsource announced the partnership in December. 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. But far be it from this to be a one-way relationship. 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. Two years later that stake was increased to create the 50:50 joint venture in place today. The Grid Edge comprises technologies, solutions and business models advancing the transition toward a decentralized, distributed and transactive electric grid. 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. This idea of 'build back better'is actually how you can createthe energy industry, the future, rather than just the past.. 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. 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. 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. 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. [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. It might not be perfect in every case its not trying to be its trying to be part of the mix, he says. The project comprises 200,000 LONGi Solar photovoltaic panels ground-mounted across 240 acres (97 ha). Ongoing US sanctions against Chinas solar supply chain threaten to raise costs, and slow the pace of the industry globally. On this Wikipedia the language links are at the top of the page across from the article title. Staff numbers will almost double from fewer than 600 at the start of the year. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. This website uses cookies so that we can provide you with the best user experience possible. Nick Boyle: You make me sound very impressive. The current team he plays for is Baltimore Ravens (january 2022). In 2010 the British solar developer Lightsource was formed. 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. The company has rebranded to Lightsource BP in affirmation of this powerhouse commitment which is set to shape the future of global energy delivery. 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. announced a strategic partnership with BP which has committed aggressively to accelerate the low carbon transition. 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.. 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. 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. 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. With headquarters in London, the Lightsource is now active across EMEA, The Americas and APAC. At the time, the U.K. had installed next to no solar. Joined 2010, UK I co-founded Lightsource in 2010, and the whole thing came about almost completely by accident. All rights reserved. It takes a lot of energy. Cardiff see off Bristol City for impressive derby win, Ange Postecoglou feels Viaplay Cup win has sharpened competition at Celtic. Where Will DOEs Loan Program Make the Next Climate Tech Investments? During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. They just have this very can-do, empowering mentality that suits us perfectly, Boyle says. Lightsource quickly became the largest developer in the country and then the continent. Nick Boyle's net worth is currently estimated at $7 million. Mary Louise Kelly's income source is mostly from being a successful Novelist. So, how much is Mary Louise Kelly worth at the age of 51 years old? Lightsource BP won the offtake contract through a 450MW tender process. Policy & regulation are aligning with renewables cost declines to make projects more profitable and portfolios more sustainable. Check out Lightsource BP's net worth in US Dollar Aug, 2022. . Personally, I find that half of the fun of my role is all that there is to do. 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. It was at the end of 2017 that the oil giants acquisition of 43% of the company, now rebranded as Lightsource BP, was agreed. It wouldve been easy to accuse BP of greenwashing. Yes, the market for energy worldwide is growing, but electricity as a subset is outpacing that in terms of its percentage. We have estimated Nick Boyle's net worth , money, salary, income, and assets. In 10 years, Lightsource bp (LSbp) has gone from feisty start-up to shining light on the solar scene. So you founded Lightsource in 2010. Theres no slowing down solar, he says. In 2017, BP acquired a 43% stake in the company by investing $200million. 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. But it also sees the complementarity coming through from onshore and offshore wind, he said. This is always an amusing one for me, Boyle says. His responsibilities include debt and equity fundraising for all solar asset developments, project investment structuring and M&A. The word symbiosis seems to be used to describe the relationship we have with BP, and I think thats a very fair description, Boyle says. We are using cookies to give you the best experience on our website. I was talking to Accenture recently. Boyle, predictably, doesnt buy the greenwashing argument, but has good reason not to. 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 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. 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. [button target=blank link=https://careers.lightsourcebp.com]Search careers at Lightsource bp[/button]. She is from Germany. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Batteries are helping to optimize the power grid and opening up new applications and services for utilities and service providers. Will His AI Plans Be Any Different? His net worth has been growing significantly in 2021-2022. Where Will DOE's Loan Program Make the Next Climate Tech Investments? In 2018, the company completed its first international installation, a 60 MW solar farm in Maharashtra, India. Procurement agreement with US-based manufacturer. The firm has bioenergy interests via its BP Bunge JV, as well asa new partnership with Equinor focusing on offshore wind in theU.S. at presentand internationally in the years to come. Staff numbers will almost double from fewer than 600 at the start of the year. Boyle is straightforward in his assertion that the two letters at the end of the name make Lightsource BP a sexier proposition than before. Commenting on the announcement, Nick Boyle, Lightsource BP CEO, said: "We are delighted to welcome Kevin to Lightsource BP. Nick Boyle, Lightsource Renewable Energy: Profile and Biography - Bloomberg Markets Bloomberg Terminal Demo Request Bloomberg Connecting decision makers to a dynamic network of information,. What would you like to know about Nick Boyle? 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. Lightsource BP Founder: Nick Boyle How about Lightsource BP's number_of_employe? At the end of the day there shouldnt be a trade-off between the advantages of renewables and the disadvantages of individuals being put through hardship, he says. 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 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. Lightsource BP, a solar developer part-owned by BP Plc, expects to add 570 employees around the world this year. In 2010, Nick founded Lightsource Renewable Energy, then just a six-person start-up, which quickly grew over 5 . 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. Thats not to say there isnt anything that BP hasnt introduced to Lightsource on a professional level. BP'sSeptembercapital markets eventalso revealed more details on the extent of the company'srenewable options. 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. 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. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. Nick previously sat at Board and Senior Director level in a number of leading retail financial service companies. 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. [3] In 2011, the company's first solar park was established in Truro. All rights reserved. Jobs Number of Current Jobs 1 Nick Boyle is the Founder and CEO at Lightsource Renewable Energy. The numbers illustrate the point rather well. We knew that the interest in solar and renewables was going to rise. 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. The project comprises 200,000LONGi Solar photovoltaic panels ground-mounted across 240 acres (97ha). Boyle says the company is ready to meet these challenges head on. 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. The solar industry is not without its challenges. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. articles a month for anyone to read, even non-subscribers! 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. John Parnell December 01, 2020 X [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. 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, 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. 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. 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. 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? Dating & Relationship status He is currently single. 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. Lightsource bp Renewable Energy Investments Limited. Within five years, Lightsource became Europe's largest solar player and operator. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. It takes a lot of energy. 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. In 2018, the company completed its first international installation, a 60MW solar farm in Maharashtra, India. 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. More recently, its projects have been performing at the top end of that range, he said.