BASF to Create New Subsidiary for Renewable-Energy Activities
25 November 2021 - 9:52PM
Dow Jones News
By Mauro Orru
BASF SE will bundle its renewable-energy activities under BASF
Renewable Energy GmbH, a new subsidiary that will focus on
renewable power supply for BASF's European sites.
The German chemicals company said Thursday that the move would
be effective starting in January, with the new subsidiary aiming to
supply BASF in Europe with electricity from renewable energy, and
provide consulting for BASF in the field of renewable energies.
Horatio Evers, previously responsible for the development of
renewable energies at BASF, will manage the Ludwigshafen-based
company.
BASF Renewable Energy GmbH will launch new projects to generate
renewable energy and seal long-term supply agreements with energy
producers.
"Due to the conversion to renewable energy as well as the launch
of new, low-emission production processes based on electricity, our
demand will increase significantly in the future," Mr. Evers
said.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
November 25, 2021 05:37 ET (10:37 GMT)
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