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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