Lightsource BP: A Global Leader in Solar Development and Management

Lightsource BP is a 50:50 joint venture between Lightsource Renewable Energy and bp, two of the world's leading energy companies. Lightsource BP was formed in 2018 to combine the expertise and resources of both partners and accelerate the growth of solar power globally.

Lightsource BP is a leading developer, financier and operator of utility-scale solar projects, working with utilities, businesses, local communities and governments to provide affordable, reliable and sustainable energy solutions. Lightsource BP has developed over 20 GW of solar projects worldwide to date, and has a team of over 500 industry specialists working across 15 countries.

Lightsource BP's vision is to reimagine energy and enact real change on the energy landscape, not just in the USA, but all over the world. Lightsource BP is committed to advancing the sustainable future of energy by integrating sustainable business practices into everything it does. Lightsource BP believes that sustainability and social responsibility are crucial for long-term business success and this is embedded within its business model, holding it accountable to those principles.

Lightsource BP's Sustainability Strategy and Initiatives

Lightsource BP's sustainability strategy is based on three pillars: environmental stewardship, social impact and governance excellence. Lightsource BP aims to minimize its environmental footprint, maximize its positive social impact and uphold the highest standards of governance and ethics in its operations.

Some of the key initiatives that Lightsource BP undertakes to achieve its sustainability goals are:

• Solar grazing: Lightsource BP partners with local farmers and ranchers to use sheep and other livestock to maintain vegetation under and around its solar panels. This practice provides new income streams for farmers, enhances biodiversity, reduces fire risk, improves soil health and sequesters carbon.
• Agrivoltaics: Lightsource BP explores ways to combine solar power generation with agricultural land use, such as growing crops or raising bees under or near its solar arrays. This approach can increase land productivity, diversify farm income, conserve water and create pollinator habitats.
• Community engagement: Lightsource BP engages with local communities throughout the development and operation of its solar projects, seeking their input, feedback and support. Lightsource BP also contributes to local economic development, education, health and social welfare through various programs and partnerships.
• Diversity and inclusion: Lightsource BP values diversity and inclusion as a source of strength and innovation for its business. Lightsource BP strives to create a culture of respect, belonging and empowerment for its team members, customers, suppliers and stakeholders. Lightsource BP also supports initiatives that promote diversity and inclusion in the renewable energy sector.
• Health and safety: Lightsource BP prioritizes the health and safety of its team members, contractors, partners and communities. Lightsource BP implements robust policies, procedures and training to ensure a safe and healthy work environment. Lightsource BP also monitors and reports on its health and safety performance and continuously seeks to improve it.

Lightsource BP's Solar Projects

Lightsource BP's solar projects are responsibly developed and managed to provide clean and affordable energy to businesses and communities around the world. Lightsource BP's solar projects are designed to be compatible with the local environment, land use and community needs. Some of the features that make Lightsource BP's solar projects stand out are:

• Utility-scale: Lightsource BP specializes in developing large-scale solar projects that can deliver significant amounts of electricity to the grid or directly to customers. Lightsource BP's solar projects range from 5 MW to over 200 MW in size.
• Innovative: Lightsource BP leverages its expertise and experience to deploy innovative technologies and solutions for its solar projects. For example, Lightsource BP uses bifacial modules, single-axis trackers, battery storage, smart inverters and digital platforms to optimize the performance, reliability and flexibility of its solar assets.
• Tailored: Lightsource BP tailors its solar projects to meet the specific needs and preferences of its customers and partners. For example, Lightsource BP offers various financing options, such as power purchase agreements (PPAs), leases or ownership models. Lightsource BP also customizes its solar projects to suit different site conditions, grid requirements and regulatory frameworks.

Some examples of Lightsource BP's solar projects are:

• Impact Solar: A 260 MW solar farm in Lamar County, Texas that provides power to bp's Integrated Supply & Trading (IST) business through a long-term PPA. The project is expected to generate enough electricity to power over 43,000 homes annually.
• Ibstock Solar: A 4.9 MW solar farm in Leicestershire, UK that supplies electricity to Ibstock Brick, the UK's largest brick manufacturer, through a 25-year PPA. The project is expected to save over 1,500 tonnes of CO2 emissions annually.
• Wellington Solar: A 200 MW solar farm in New South Wales, Australia that sells electricity to the grid and supports the state's renewable energy target. The project is expected to generate enough electricity to power over 70,000 homes annually.