And fresh business brings fresh growth. Lightsource BP Founder: Nick Boyle How about Lightsource BP's number_of_employe? Boyle said the companyreceived 14 bids,seven of themfrom oil and gas companies. Nick Boyle invested in Better Origin on Feb 23, 2021. In 2010, Nick founded Lightsource Renewable Energy, then just a six-person start-up, which quickly grew over 5 . 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. 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. EGYPS 2019 - Nick Boyle, CEO, Lightsource BP - YouTube Sodid BPs experience with Lightsource BP help it to formulate that strategy? If we're going to meet the commitments of the Paris Agreement, business as usual isn't going to cut it. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. But BPs Sanyal told GTM it never lost its interest in solar. 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. Nick Boyle, group CEO, also described the market potential of solar as "absolutely ridiculous". Boyle says the company is ready to meet these challenges head on. He is a member of Lightsource bp's investment committee and a board director. "The target is 10GW by 2023," Nick Boyle told The National in an interview in Abu Dhabi. From my perspective, I find it amusing that people seem to be so focused on this number, because,for us, its not a challenge.. 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. 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. Ongoing US sanctions against Chinas solar supply chain threaten to raise costs, and slow the pace of the industry globally. 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. The deal on the Lightsource deal | News and insights | Home - bp global Nick Boyle | Lightsource bp Throughout his career, Nick has always been recognised for his entrepreneurial skill and success in pairing retail financial products with low-risk, predictable investments. [citation needed] In 2013, Lightsource completed a 5MW rooftop solar PV installation at Bentley Motors' factory in Crewe. EGYPS 2019 - Nick Boyle, CEO, Lightsource BP - YouTube EGYPS TV interviews Nick Boyle, CEO, Lightsource BP EGYPS TV interviews Nick Boyle, CEO, Lightsource BP. Nick Boyle - Founder and CEO @ Lightsource Renewable Energy 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. 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. 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. His net worth has been growing significantly in 2021-2022. A revolution in the renewable energy sector: The journey of Lightsource Lightsource BP won the offtake contract through a 450MW tender process. The one concern I dont have is a poverty of options., The pace of the energy transitions prospects hasbeen accelerated by COVID," he added. 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. Policy & regulation are aligning with renewables cost declines to make projects more profitable and portfolios more sustainable. Nick Boyle's net worth is currently estimated at $7 million. Choose a career where you are empowered to change the world! More recently, its projects have been performing at the top end of that range, he said. 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. Lightsource bp has obtained environmental permits for 19 solar projects, creating over 5000 jobs and avoiding 900,000 tons of CO2. But not even in my wildest dreams would I have assumed that it was going to rise at the pace that it has, Boyle says. 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. Following the completion of the transaction, the company will be renamed Lightsource BP. Staff numbers will almost double from fewer than 600 at the start of the year. See the full leadership team at Craft. In his role as Group CEO, Nicks dynamic leadership and vision has driven the company to tremendous success and in December 2017, Lightsource. [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. England Companies With Less Than $1B in Revenue (Top 10K), United Kingdom Companies With Fewer Than 1000 Employees (Top 10K), Solar Companies With Less Than $1B in Revenue, Solar Companies With Less Than $500M in Revenue, Energy Companies With More Than $50M in Revenue, Caisse de Depot et Placement du Quebec Portfolio Companies, Energy Companies With More Than $10M in Revenue, Renewable Energy Companies With Fewer Than 1000 Employees (Top 10K), Number of portfolio companies associated to the Person, Number of Organizations that the person founded, The organization associated to the person's primary job, Where the person is located (e.g. 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. At the time, the U.K. had installed next to no solar. Lightsource quickly became the largest developer in the country and then the continent. From small beginnings, the company has gone on to big things, now with activities in 14 countries. As Lightsource BP continues its rapid growth across North, . She is from Germany. With Lightsource now a decade oldand its partnership with BPinits fourth year,Lightsource BP CEO Nick Boyle and Dev Sanyal,BPs EVP for gas and low-carbon energy,spoke to GTM about their progress thus far and what the next 10years may hold. How Lightsource Inspired BP's Low-Carbon Pivot - Greentech Media Dating & Relationship status He is currently single. 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.. 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] 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. . Procurement agreement with US-based manufacturer. 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. The current team he plays for is Baltimore Ravens (january 2022). Back in 2010, I couldnt have imagined the solar industry we find ourselves in now. Other executives include Kevin Smith, CEO Americas; Kareen Boutonnat, CEO of Europe and International and 11 others. 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. 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. 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.. 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. In 2017, oil major BP took a 43 percent stake, which has since been converted into a full 50-50 joint venture. That much is borne out from watching developments in the market that have followed BPs own move. 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. You can find out more about which cookies we are using or switch them off in settings. With headquarters in London, the Lightsource is now active across EMEA, The Americas and APAC. This website uses cookies so that we can provide you with the best user experience possible. Nick Boyle, Lightsource Renewable Energy: Profile and Biography In February of this year, BP announced its intention to reachnet-zero carbon emissions by 2050 and revealedfurther details during a Septembercapital markets event. All rights reserved. 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. 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. Thats the cycle in this industry.. He is a member of Lightsource bps investment committee and a board director. The performance of Lightsource BP's solar projects helped embolden BP's net-zero plans. During his tenure, Paul has raised over 1.6 billion of project financing and led the recent BlackRock equity transaction in the UK. If we compare what BP is like to what our previous [funders] were like, there is no comparison. 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. I already had experience in renewables in Europe, and it was clear to me that there was a great opportunity and a lot of potential in the proposition in the UK. In 2010 the British solar developer Lightsource was formed. BP will invest $200 million in Lightsource over three years for a 43% stake in the business. 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. articles a month for anyone to read, even non-subscribers! 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. 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. Through its involvement in the firm, BP has been able to fling open doors that Lightsource wouldve otherwise struggled to move by an inch. [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. Where Will DOEs Loan Program Make the Next Climate Tech Investments? Shared vision matters most when picking your business partner - LinkedIn 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. Theres nothing like an unfair advantage. Were not on the trajectory we imagined 10 years ago, but were definitely not complaining. 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. 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. 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. One year on: How BP transformed Lightsource, and vice versa 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! 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. 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. Nick is Global CEO and founder, starting up Lightsource Renewable Energy in 2010. This investment - Seed Round - Better Origin - was valued at $3M. 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. With an Energy Crisis Brewing, No Peak in Sight for Emissions, Why TransitTech Is So Vital to Struggling Public Transportation Systems. [citation needed]. 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. Nick Boyle: You make me sound very impressive. So, how much is Mary Louise Kelly worth at the age of 51 years old? 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. Lightsource BP, a solar developer part-owned by BP Plc, expects to add 570 employees around the world this year. Will His AI Plans Be Any Different? 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. Joined 2010, UK I co-founded Lightsource in 2010, and the whole thing came about almost completely by accident. So you founded Lightsource in 2010. [6] The company was accordingly renamed Lightsource BP. Suddenly, government-backed energy offtakers and bankable counterparties alike are keener to do business. 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. TE Nick Boyle earned $25,785,075 in his NFL career. 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