From my perspective, I find it amusing that people seem to be so focused on this number, because,for us, its not a challenge.. . The company was founded in 2010 as Lightsource Renewable Energy. 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. Nick Boyle invested in Better Origin on Feb 23, 2021. 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. 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. 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. Check out all of our energy storage resources. The project comprises 200,000 LONGi Solar photovoltaic panels ground-mounted across 240 acres (97 ha). 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. Nick previously sat at Board and Senior Director level in a number of leading retail financial service companies. Id been working with Nick Boyle on some other investment ideas when the Feed-in Tariffs (solar subsidies from the government) came in we ended up in a bar somewhere in London one night, it came up in conversation and the rest is history. 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. 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 far be it from this to be a one-way relationship. Lightsource BP won the offtake contract through a 450 MW tender process. . 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. I was talking to Accenture recently. At the time, the U.K. had installed next to no solar. Nick Boyle Group CEO Nick is Global CEO and founder, starting up Lightsource Renewable Energy in 2010. Lightsource BP, a solar developer part-owned by BP Plc, expects to add 570 employees around the world this year. 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. 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. 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 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. But BPs Sanyal told GTM it never lost its interest in solar. Boyle is straightforward in his assertion that the two letters at the end of the name make Lightsource BP a sexier proposition than before. We don't have much information about He's past relationship and any previous engaged. You can directly influence, create and achieve things here, its what makes us different. BP'sSeptembercapital markets eventalso revealed more details on the extent of the company'srenewable options. This website uses cookies so that we can provide you with the best user experience possible. 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. There are lots of tangible outcomes of hard work. His responsibilities include debt and equity fundraising for all solar asset developments, project investment structuring and M&A. Jobs Number of Current Jobs 1 Nick Boyle is the Founder and CEO at Lightsource Renewable Energy. 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. 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. Nick Boyle's income source is mostly from being a successful Player. [button target=blank link=https://careers.lightsourcebp.com]Search careers at Lightsource bp[/button]. 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. And fresh business brings fresh growth. 21 September, 2021 01:00 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. [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]. 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. Lightsource BP, a solar developer part-owned by BP Plc , expects to add 570 employees around the world this year. We have estimated Nick Boyle's net worth , money, salary, income, and assets. As I look at the second half of the decade, we will still see massive growth in solar. We're heavily. #renewableenergy #solarenergy #wearelightsourcebp #BeTheChange #solar #Lightsourcebp #netzero #cleanenergy 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. 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. 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. [citation needed] In 2013, Lightsource completed a 5MW rooftop solar PV installation at Bentley Motors' factory in Crewe. In his role as Group CEO, Nicks dynamic leadership and vision has driven the company to tremendous success and in December 2017, Lightsource. So, how much is Mary Louise Kelly worth at the age of 51 years old? Nick Boyle contract and salary cap details, including signing bonus, guaranteed salary, dead money, roster bonuses, and contract history. If we're going to meet the commitments of the Paris Agreement, business as usual isn't going to cut it. 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%. 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. We are using cookies to give you the best experience on our website. In February of this year, BP announced its intention to reachnet-zero carbon emissions by 2050 and revealedfurther details during a Septembercapital markets event. Weve got a predominantly [Organisation for Economic Co-operation and Development]-focused footprint at the moment. Check out Lightsource BP's net worth in US Dollar Aug, 2022. . The performance of Lightsource BP's solar projects helped embolden BP's net-zero plans. 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. In 2010, Nick founded Lightsource Renewable Energy, then just a six-person start-up, which quickly grew over 5 . Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Nick, welcome, and thank you for taking the time to speak to us today. 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. 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. 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. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. Europe, Menlo Park, China), This describes the type of investor the person is (e.g. 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. His main and rather the only source of income is a professional career as an American football tight end which brings him great profits. His net worth has been growing significantly in 2021-2022. Those numbers might sound as ridiculous as selling U.K. solar power for 0.04 per kilowatt-hour sounded in 2010. BP and Lightsource announced the partnership in December. 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. This trend proves that renewables are mainstream and solar is playing a key role in addressing the climate crisis. 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. Nick is Global CEO and founder, starting up Lightsource Renewable Energy in 2010. 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 an Energy Crisis Brewing, No Peak in Sight for Emissions, Why TransitTech Is So Vital to Struggling Public Transportation Systems. [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. 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. Up to 2010, he spent six years in the power finance team at Investec Bank, and prior to this Paul was Assistant Director of project finance at Rolls-Royce Power Ventures, an independent power project developer based in London. 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. 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. (Credit: BP). He is a member of Lightsource bp's investment committee and a board director. The potential for Lightsource BP appears to be just as bright. 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. Generous government subsidies were implemented to help get the emerging technology off the ground. Lightsource BP Founder: Nick Boyle How about Lightsource BP's number_of_employe? Yes, said Sanyal. Founder Nick Boyle explains how Lightsource will help power one of the biggest corporate transformations ever attempted. Procurement agreement with US-based manufacturer. The wind industry is in a period of intensifying competition and shifting demand that requires a multi-faceted view of the global market. 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. In 2018, the company completed its first international installation, a 60MW solar farm in Maharashtra, India. 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. People who compare the returns on solar with oil and gas miss the fact that theyre comparing an apple to a fish.. . 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. Musk Made a Mess at Twitter. 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? Within five years, Lightsource became Europe's largest solar player and operator. That confidence that Lightsource BP has fed into that new strategy can also be illustrated through the numbers. Following the completion of the transaction, the company will be renamed Lightsource BP. Suddenly, government-backed energy offtakers and bankable counterparties alike are keener to do business. Lightsource bp's Group CEO is Nick Boyle. I remember speaking at one of your [Current publisher Solar Media] conferences in 2011 and I stood up and announced that Lightsource was going to do 300MW, and there wasnt anyone in the room that wasnt on the floor laughing. 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. 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. "The target is 10GW by 2023," Nick Boyle told The National in an interview in Abu Dhabi. Lightsource quickly became the largest developer in the country and then the continent. We already have momentum, Boyle says. Deployment ramped up quickly, and between 2014 and 2016, the U.K. was the largest end market in Europe, overtakingGermany. 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. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Lightsource bp Renewable Energy Investments Limited. 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. This website uses cookies so that we can provide you with the best user experience possible. 2010 still feels like yesterday to me, when six of us gathered in the . So you founded Lightsource in 2010. Today were building projects in the U.K. andselling the electricity for 0.04. He is not dating anyone. Theres no slowing down solar, he says. 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. We've moved from a cottage industry into an industrialized generator of what is globally, today, the cheapest form of electricity generation, said Boyle. 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. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. 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 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. It also has a 1.1 GW onshore wind portfolio in the U.S. 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. The Grid Edge comprises technologies, solutions and business models advancing the transition toward a decentralized, distributed and transactive electric grid. BP has partnered with offshore wind giant rsted to provide green hydrogen for a refinery in Germany, initially a 50 MW electrolyzer, with a plan ofscaling to 500 MW. 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. Of all the offers, BP matched up best on culture, ethos, ambition and its "understanding and belief about the potential of solar," and not anything to do with BP being British, he insisted. 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. With headquarters in London, the Lightsource is now active across EMEA, The Americas and APAC. 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. Claire Skinner: You are terribly impressive. 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. Cardiff see off Bristol City for impressive derby win, Ange Postecoglou feels Viaplay Cup win has sharpened competition at Celtic. Where Will DOE's Loan Program Make the Next Climate Tech Investments? Throughout his career, Nick has always been recognised for his entrepreneurial skill and success in pairing retail financial products with low-risk, predictable investments. Modern slavery and human trafficking statement, Health, safety, security, environment policy, Code of Business Conduct and Ethics for Counterparties. Rebranded as Lightsource BP, the company has committed to aggressively accelerate the low carbon transition, and this powerhouse partnership is set to shape . He said BP's investment in the firm he founded was a "complete game changer" - especially since. 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. [3] In 2011, the company's first solar park was established in Truro. Dev Sanyal, BPs head of gas and low-carbon initiatives, and Lightsource BP CEO Nick Boyle discuss the past, present and future of their joint venture. Speaking about the appointment, Nick Boyle, Group CEO, said: "At Lightsource bp, we've always said that our strength is our people, and that is true from top to bottom. 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? If that doesnt illustrate where weve come in 10 years, I dont know what does, he said. You can find out more about which cookies we are using or switch them off in settings. It might not be perfect in every case its not trying to be its trying to be part of the mix, he says. 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. But it also sees the complementarity coming through from onshore and offshore wind, he said. She is from Germany. 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. The numbers illustrate the point rather well. Batteries are helping to optimize the power grid and opening up new applications and services for utilities and service providers. [8], As of 2018, Lightsource BP has commissioned 1,300MW of solar capacity and manages about 2,000MW of solar capacity. 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.