[3] In 2011, the company's first solar park was established in Truro. The company began with just six team members and rapidly grew to become one of Europe's leading solar developers and operators in just five years. 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. All rights reserved. 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. 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. In 2010 the British solar developer Lightsource was formed. Nick Boyle - Net Worth March 2023, Salary, Age, Siblings, Bio, Family 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. Nick Boyle - Founder and CEO @ Lightsource Renewable Energy Heres How It Worked and What It Cost, Congress Passes Spending Bill With Solar, Wind Tax Credit Extensions and Energy R&D Package, Global solar PV operations & maintenance (O&M) 2020. Lightsource bp Renewable Energy Investments Limited. It plans to increase the capacity up to 8,000MW through projects in the Americas, India, Europe and the Middle East. Musk Made a Mess at Twitter. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Lightsource bp turns 10 | News and insights | Home Thats not to say there isnt anything that BP hasnt introduced to Lightsource on a professional level. Two years later that stake was increased to create the 50:50 joint venture in place today. Shoe designer and creative Salehe Bembury takes us on a journey from his childhood growing up in Manhattan, to an invaluable degree in industrial design, to working with some of the biggest names in fashionbefore breaking off to make his own name. 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. 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. It wouldve been easy to accuse BP of greenwashing. In 2010, Nick founded Lightsource Renewable Energy, then just a six-person start-up, which quickly grew over 5 . 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. Carbon Recycling: Microbes, Jet Fuel and Leggings. Boyle, predictably, doesnt buy the greenwashing argument, but has good reason not to. Suddenly, government-backed energy offtakers and bankable counterparties alike are keener to do business. Lightsource BP, like most, if not all, solar developers in the UK active since 2015, endured some troubled times as the Conservative axe fell on a whole range of subsidies following their election in May 2015. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Jobs Number of Current Jobs 1 Nick Boyle is the Founder and CEO at Lightsource Renewable Energy. And the relationship between BP and Lightsource has however gone further, and is now more symbiotic than anything else. Lightsource bp's Group CEO is Nick Boyle. 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. With an Energy Crisis Brewing, No Peak in Sight for Emissions, Why TransitTech Is So Vital to Struggling Public Transportation Systems. That confidence that Lightsource BP has fed into that new strategy can also be illustrated through the numbers. 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. (Credit: BP). Europe, Menlo Park, China), This describes the type of investor the person is (e.g. The current position, the cost efficiency of subsidy-free solar, the competitiveness with fossil fuels, the stability of the market Not many people saw this coming! David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Lightsource BP eyes projects worth $8 billion amid expansion plans Angel, Fund of Funds, Venture Capital), Number of Investments the Individual has participated in, Total number of current Jobs the person has, Number of news articles that reference the Person, Riverbed names Nick Boyle VP of APJ sales, Better Origin, which turns flies into food for chickens, raises $3M from Fly Ventures. BP to acquire $200m worth stake in Lightsource - NS Energy On this Wikipedia the language links are at the top of the page across from the article title. Personally, I find that half of the fun of my role is all that there is to do. So, how much is Mary Louise Kelly worth at the age of 51 years old? Staff numbers will almost double from fewer than 600 at the start of the year. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. 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. Ongoing US sanctions against Chinas solar supply chain threaten to raise costs, and slow the pace of the industry globally. To reinforce that it wasnt a one-trick pony, as heput it, Lightsourceexpanded to the U.S. and Indiaand found that the fundamentals of land, grid, permitting and planning held true. Shoe designer and creative Salehe Bembury takes us on a journey from his childhood growing up in Manhattan, to an invaluable degree in industrial design, to working with some of the biggest names in fashionbefore breaking off to make his own name. 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. Since then BP has brought in a new CEO, Bernard Looney, and discovered a renewed appetite for renewable energy. He said BP's investment in the firm he founded was a "complete game changer" - especially since. 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. 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. I Fully Converted a Home to Electricity. Now Boyle is poised to set out how Lightsource will help power one of the biggest corporate transformations ever attempted. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. 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. [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. Since last December operations have been opened in Egypt and Brazil amongst others, and the company is now active in 11 jurisdictions worldwide. EGYPS 2019 - Nick Boyle, CEO, Lightsource BP - YouTube EGYPS TV interviews Nick Boyle, CEO, Lightsource BP EGYPS TV interviews Nick Boyle, CEO, Lightsource BP. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. From that initial conversation, everything sort of snowballed and took on a life of its own. In 2018, the company completed its first international installation, a 60 MW solar farm in Maharashtra, India. Among those strategic firms were BP and another oil and gas giant, with BP eventually coming out victorious. 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. [citation needed] In 2013, Lightsource completed a 5MW rooftop solar PV installation at Bentley Motors' factory in Crewe. 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. Deployment ramped up quickly, and between 2014 and 2016, the U.K. was the largest end market in Europe, overtakingGermany. At 28 years old, Nick Boyle height is 193 cm and Weight 122 kg. Nick Boyle contract and salary cap details, including signing bonus, guaranteed salary, dead money, roster bonuses, and contract history. Jake O'Kane: Is the DUP really going to sink the Assembly and reject the Windsor 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. Throughout his career, Nick has always been recognised for his entrepreneurial skill and success in pairing retail financial products with low-risk, predictable investments. [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]. We're heavily. 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. 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. Lightsource is Europe's largest solar development company, focused on the acquisition, development and long-term management of large-scale solar projects. BP'sSeptembercapital markets eventalso revealed more details on the extent of the company'srenewable options. 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. 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. He is a member of Lightsource bp's investment committee and a board director. That much is borne out from watching developments in the market that have followed BPs own move. And yet, thats exactly what we did.. Boyle says Lightsource BP has continued to flourish in such adversity as a result of always being willing to push the boundaries of what was thought possible. 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. If that doesnt illustrate where weve come in 10 years, I dont know what does, he said. He is a member of Lightsource bps investment committee and a board director. Lightsource BP won the offtake contract through a 450 MW tender process. BP and Lightsource announced the partnership in December. Lightsource BP Founder: Nick Boyle How about Lightsource BP's number_of_employe? 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. 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.. Her husband is Nick Boyle Mary Louise Kelly Net Worth Her net worth has been growing significantly in 2021-2022. [citation needed]. 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? 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. 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. 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. 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. The one concern I dont have is a poverty of options., The pace of the energy transitions prospects hasbeen accelerated by COVID," he added. One of things that weve done really well in the first years in partnership with BP is that weve set aggressive targets and weve delivered on every one them They were able to believe us when we said: Guys, 10GW isnt really pushing the envelope. That was the start of the conversation about how we redefine what good looks like, Boyle says. Lightsource bp CEO and key executive team | Craft.co BPs interest in Lightsource first crystallised within an external funding opportunity which was led by Rothschilds. 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? His main and rather the only source of income is a professional career as an American football tight end which brings him great profits. This investment - Seed Round - Better Origin - was valued at $3M. The joy of working for Lightsource bp is having the freedom and the responsibility to go out and achieve things. Nick Boyle Nick Boyle Group CEO, Lightsource bp Published Dec 1, 2020 + Follow This month, our business becomes ten years old. In 2017, oil major BP took a 43 percent stake, which has since been converted into a full 50-50 joint venture. More recently, its projects have been performing at the top end of that range, he said. Within five years, Lightsource became Europe's largest solar player and operator. But it also sees the complementarity coming through from onshore and offshore wind, 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. One year on: How BP transformed Lightsource, and vice versa The culture of Lightsource bp is one of the things Im most proud of. Nick Boyle, Lightsource Renewable Energy: Profile and Biography - Bloomberg Markets Bloomberg Terminal Demo Request Bloomberg Connecting decision makers to a dynamic network of information,. We already have momentum, Boyle says. Where Will DOEs Loan Program Make the Next Climate Tech Investments? 'The potential for solar is huge': future looks bright for Lightsource 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. Throughout his career, Nick has always been recognised for his entrepreneurial skill and success in pairing retail financial products with low-risk, predictable investments. Boyle said the companyreceived 14 bids,seven of themfrom oil and gas companies. 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. #renewableenergy #solarenergy #wearelightsourcebp #BeTheChange #solar #Lightsourcebp #netzero #cleanenergy Will His AI Plans Be Any Different? But BPs Sanyal told GTM it never lost its interest in solar. 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. We are using cookies to give you the best experience on our website. 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. Other executives include Kevin Smith, CEO Americas; Kareen Boutonnat, CEO of Europe and International and 11 others. 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 potential for Lightsource BP appears to be just as bright. Shell snapped up US developer Silicon Ranch mere weeks after the Lightsource BP deal was announced, and both Orsted (formerly DONG) and Equinor (formerly Statoil) have spoken of solar ambitions. With headquarters in London, the Lightsource is now active across EMEA, The Americas and APAC. Lightsource BPs Vendimia solar project in Spain. It would be completely inappropriate for us to get all the upside and them to get some greenwashing. 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? His responsibilities include debt and equity fundraising for all solar asset developments, project investment structuring and M&A. Lightsource BP to double solar expansion by 2025 - Irish News We don't have much information about He's past relationship and any previous engaged. Commenting on the announcement, Nick Boyle, Lightsource BP CEO, said: "We are delighted to welcome Kevin to Lightsource BP. Making light work - 10 years of solar success - LinkedIn His responsibilities include debt and equity fundraising for all solar asset developments, project investment structuring and M&A. The project comprises 200,000LONGi Solar photovoltaic panels ground-mounted across 240 acres (97ha). 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. 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. [1][2] Lightsource BP is a British company with headquarters in London, and offices in Madrid, Milan, Athens, San Francisco, Philadelphia, Mumbai, New Delhi, Cairo, Melbourne, Amsterdam, Bath, Belfast and Dublin. Floating solar, bifacial modules and the central versus string inverters debate sit on Lightsource BPs immediate R&D list at the moment. 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. The numbers illustrate the point rather well. All rights reserved. Generous government subsidies were implemented to help get the emerging technology off the ground. But the additional cash fund will be used to fast-track that ambition to 25GW by 2025, and the growth is likely to create more than 500 additional jobs within Lightsource in that time. 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. Will His AI Plans Be Any Different? 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.. This website uses cookies so that we can provide you with the best user experience possible. What the Frack Is Happening With Natural Gas Prices? The project comprises 200,000 LONGi Solar photovoltaic panels ground-mounted across 240 acres (97 ha). Nick Boyle - Group CEO - Lightsource BP | LinkedIn Check out all of our energy storage resources. How Lightsource Inspired BP's Low-Carbon Pivot - Greentech Media . Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. Lightsource BP Completes Financing on 260 MW Solar Project in Texas She is from Germany. 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. And big companies like Amazon, McDonald's and eBay are switching to clean energy. 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. It worked. In 2017, BP acquired a 43% stake in the company by investing $200million. The Grid Edge comprises technologies, solutions and business models advancing the transition toward a decentralized, distributed and transactive electric grid. Theres no slowing down solar, he says. 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. [citation needed], In 2019, BP increased its stake in Lightsource BP to 50%. 2023 Greentech Media or its affiliated companies. 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. Theres nothing like an unfair advantage. We develop, finance, build and operate utility-scale solar power projects through smart and sustainable solutions. 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. 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. Lightsource BP, a solar developer part-owned by BP Plc, expects to add 570 employees around the world this year. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK.