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. 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. Thats not to say there isnt anything that BP hasnt introduced to Lightsource on a professional level. [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. Lightsource bp has an established track record in building and growing partnerships with investors over the last 10 years. 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. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. Yes, the market for energy worldwide is growing, but electricity as a subset is outpacing that in terms of its percentage. 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. 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. 2023 Lightsource. The company was founded in 2010 as Lightsource Renewable Energy. This website uses cookies so that we can provide you with the best user experience possible. 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. Lightsource quickly became the largest developer in the country and then the continent. PV is, in 60% of those countries the cheapest form of electricity generation. The Grid Edge comprises technologies, solutions and business models advancing the transition toward a decentralized, distributed and transactive electric grid. 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. 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. Musk Made a Mess at Twitter. With headquarters in London, the Lightsource is now active across EMEA, The Americas and APAC. In his role as Group CEO, Nicks dynamic leadership and vision has driven the company to tremendous success and in December 2017, Lightsource. 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. Nick previously sat at Board and Senior Director level in several leading retail financial service companies. All rights reserved. [button target=blank link=https://careers.lightsourcebp.com]Search careers at Lightsource bp[/button]. 2023 Lightsource. Among those strategic firms were BP and another oil and gas giant, with BP eventually coming out victorious. If that doesnt illustrate where weve come in 10 years, I dont know what does, he said. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Back in 2010, I couldnt have imagined the solar industry we find ourselves in now. 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. articles a month for anyone to read, even non-subscribers! 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.. 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. Boyle says the company is ready to meet these challenges head on. Founder Nick Boyle explains how Lightsource will help power one of the biggest corporate transformations ever attempted. This website uses cookies so that we can provide you with the best user experience possible. Generous government subsidies were implemented to help get the emerging technology off the ground. In 2018, the company completed its first international installation, a 60MW solar farm in Maharashtra, India. 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. Its an advantage that other solar developers are simply not privy to, but one Boyle is not shy about taking up. 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. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. 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. People who compare the returns on solar with oil and gas miss the fact that theyre comparing an apple to a fish.. The solar industry is not without its challenges. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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? After what he calleda period of strategic introspection, which included scrutinizing35 companies,BPmade itsinitial $200 million investment in Lightsource in 2017, creating Lightsource BP. Boyle is straightforward in his assertion that the two letters at the end of the name make Lightsource BP a sexier proposition than before. He said BP's investment in the firm he founded was a "complete game changer" - especially since. BP'sSeptembercapital markets eventalso revealed more details on the extent of the company'srenewable options. "The target is 10GW by 2023," Nick Boyle told The National in an interview in Abu Dhabi. Lightsource BPs Vendimia solar project in Spain. 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. BP and Lightsource announced the partnership in December. From that initial conversation, everything sort of snowballed and took on a life of its own. Nick Boyle's net worth is currently estimated at $7 million. Staff numbers will almost double from fewer than 600 at the start of the year. Staff numbers will almost double from fewer than 600 at the start of the year. On this Wikipedia the language links are at the top of the page across from the article title. Today were building projects in the U.K. andselling the electricity for 0.04. Nicks dynamic leadership and vision continues to drive the companys remarkable growth and international reach, growing from 5 to 20 markets since the bp partnership was inked, and now surpassing 1000 team members around the world. The culture of Lightsource bp is one of the things Im most proud of. 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. You can directly influence, create and achieve things here, its what makes us different. . Boyle said the companyreceived 14 bids,seven of themfrom oil and gas companies. All rights reserved. Youre not a small cog in a big wheel, youre an instrumental part of our success. Boyle has said on the record that Lightsource BP is already hitting 8 to10 percent as a global average. If we compare what BP is like to what our previous [funders] were like, there is no comparison. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. Then again, whenever the industry thinks the forecasted pace of change is too fast, it always ends up happening way, way faster," he said. 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. 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 word symbiosis seems to be used to describe the relationship we have with BP, and I think thats a very fair description, Boyle says. Other executives include Kevin Smith, CEO Americas; Kareen Boutonnat, CEO of Europe and International and 11 others. Through its involvement in the firm, BP has been able to fling open doors that Lightsource wouldve otherwise struggled to move by an inch. 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.
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