Basic Energy Corp. is aggressively pursuing renewable energy projects following the approval of the Securities and Exchange Commission of the amended articles of incorporation of subsidiary Basic Ecomarket Farms Inc.

The corporate regulator approved the amendment that changed the name of Basic Ecomarket to Basic Renewables.

It also approved the change in the company’s primary purpose “to engage in the business of exploration, development, utilization and production of renewable energy resources, such as but not limited to solar, wind, hydropower and other forms of renewable energy including the application and operation of systems, technologies and facilities for the generation, transmission, distribution, safe and use of electricity and fuel generated from renewable energy.”

Basic Energy, a company listed at the stock market, earlier signed an agreement with From Energies International Ltd. of Spain to explore joint opportunities in developing Basic’s hydropower projects.

Source: http://manilastandardtoday.com/2014/12/03/basic-eyes-renewable-plants/