Brazil’s Votorantim and Canada Pension Plan to form energy joint venture
Privately-owned Votorantim SA, one of Brazil’s biggest diversified industrial groups, has announced a plan with Canada Pension Plan to consolidate their energy assets in Brazil to create a listed integrated renewables platform, they said on Monday.
The joint venture between Votorantim Energia and CPP Investments, Canada Pension Plan ‘s global investment arm, will include another stakeholder, Companhia Energetica de Sao Paulo, Sao Paulo’s power generation company known as CESP.
CPP Investments will invest an additional 1.5 billion reais (C$340 million) to increase the venture’s capital base, the companies said.
The new company will have net revenue estimated at 5.8 billion reais based on the 2020 results, and a diversified energy matrix with an installed capacity of 3.3 gigawatts (GW), of which 2.3 GW is hydroelectric sources and 1.0 GW in wind power, they said.
The company will already be born with a pipeline of projects that combine hydro and solar sources, as well as hybrid solutions, totaling 1.9 GW, they said in a statement.
The new company will also be one of the largest energy traders in Brazil, with more than 2.6 average GW sold in 2020 and a portfolio of more than 400 customers.
“By consolidating our assets in a single company, Votorantim and CPP Investments intend to start a new cycle of growth and value generation together with CESP’s shareholders,” said Joao Schmidt, Votorantim’s chief executive.
(Reporting by Anthony Boadle; Editing by Chris Reese)
N.S. reports 72 new COVID-19 cases over the weekend, three Halifax-area schools to close – CTV News Atlantic
Health officials in Nova Scotia are reporting 72 new cases of COVID-19 and 63 recoveries since Friday, as the number of active cases rises to 208.
The province’s COVID-19 data dashboard will not be updated on Monday due to a technical issue, said Public Health in a release.
Thirty-one new cases were reported on Oct. 16; 19 new cases on Oct. 17, and 22 new cases are being reported on Oct. 18.
- Fifty-eight new cases were identified in the province’s Central zone.
- Eight new cases were identified in the province’s Northern zone.
- Five new cases were identified in the province’s Western zone.
- One new case was identified in the province’s Eastern zone.
Health officials say there is community spread in the Central zone, primarily among people aged 20 to 40 who are unvaccinated and participating in social activities.
Public Health says it is closely monitoring all four health zones for community spread.
THREE HALIFAX-AREA SCHOOLS CLOSE FOR WEEK
Three schools in the Halifax Regional Municipality will close for the rest of the week in order to contain the spread of COVID-19.
In a release sent Monday afternoon, the province announced École Mer et Monde and Joseph Howe Elementary in Halifax will both be closed from Oct. 19 to Oct. 25, to prevent further spread of the virus among the school community.
The schools and public health will share more information later in the week about reopening plans. The principals will contact staff and families about learning from home, which will begin Tuesday, Oct. 19. There are no classes for students on Friday, Oct. 22, as it is a provincial conference day.
Officials say testing would be available at both schools next weekend from 10 a.m. to 5 p.m. because next Monday is a school development day.
In a release issued Sunday evening, Dr. Robert Strang, Nova Scotia’s chief medical officer of health, recommended the closure of Dartmouth South Academy.
The P-9 school, located at 111 Prince Arthur Ave., will be closed to students from Oct. 18 to Oct. 22 to prevent further spread of the virus among the school community. The pre-primary centre, which is located on a separate site from the school, will remain open.
“While our goal is to keep students learning in the classroom, I was clear that if stronger measures were needed, like closing a school, we would not hesitate to act,” said Dr. Strang. “The regional medical officer of health team has been closely monitoring this situation, and they are recommending a temporary closure to contain the spread.”
The school and public health will share more information later in the week about reopening plans, and the principal will contact staff and families about learning from home.
With the latest closures, four schools in the Halifax area have been temporarily closed in the last two weeks.
Duc d’Anville Elementary School in Halifax was closed for four days last week after 14 cases of novel coronavirus were linked to the school.
Health officials also sent exposure notices for eight schools in the province since Friday.
The latest school exposures are at Cumberland North Academy in Amherst, École Mer et Monde, Halifax West High, Joseph Howe Elementary, Beechville-Lakeside-Timberlea Elementary and St. Catherine’s Elementary in Halifax, and Portland Estates Elementary and Dartmouth South Academy in Dartmouth.
“It is important to note that an exposure associated with a school does not mean there is spread within the school or that the initial case was first exposed to the virus in the school. As always, all staff, parents and guardians are notified of exposures if a positive case (student, teacher or staff) was at the school while infectious,” said N.S. Health in a release.
A list of schools with exposures is available online.
COVID-19 CASE DATA
Nova Scotia Health Authority’s labs completed 3,557 tests on Oct. 15; 2,755 tests on Oct. 16; and 2,792 tests on Oct. 17.
According to the province’s online COVID-19 dashboard, there have been 7,149 cumulative COVID-19 cases in Nova Scotia. Of those, 6,843 people have recovered and 98 have died due to COVID-19.
There are currently 15 people in hospital in Nova Scotia due to COVID-19, with three in an intensive care unit.
Since Aug. 1, there have been 1,253 positive COVID-19 cases and four deaths. Of the new cases since Aug. 1, 1,041 are now considered resolved.
There are cases confirmed across the province, but most have been identified in the Central zone, which contains the Halifax Regional Municipality.
The provincial state of emergency, which was first declared on March 22, 2020, has been extended to Oct. 31, 2021.
The province’s COVID-19 online dashboard provides an update on the number of vaccines that have been administered to date.
As of Monday, 1,547,472 doses of COVID-19 vaccine have been administered. Of those, 747,632 Nova Scotians have received their second dose.
The province says it has received a total of 1,661,340 doses of COVID-19 vaccine since Dec. 15.
All Nova Scotians are encouraged to get vaccinated against COVID-19 as soon as they are eligible. COVID-19 vaccination appointments can be made online or by phone at 1-833-797-7772.
LIST OF SYMPTOMS
Anyone who experiences a fever or new or worsening cough, or two or more of the following new or worsening symptoms, is encouraged to take an online test or call 811 to determine if they need to be tested for COVID-19:
- Sore throat
- Shortness of breath
- Runny nose/nasal congestion
Fashion firm Rent the Runway aims for nearly $1.3 billion valuation in U.S. IPO
The company, founded in 2009, lets users rent and shop second-hand clothes and accessories such as handbags and jewelry in over 18,000 styles from more than 750 designer brands. It also allows customers to rent and shop home goods.
Rent the Runway plans to sell 15 million shares priced between $18.00 and $21.00 apiece in its IPO, raising $315 million, according to a filing https://www.sec.gov/Archives/edgar/data/1468327/000119312521301156/d194411ds1a.htm.
Earlier this month, the Brooklyn, New York-based company disclosed a near 39% drop in revenue for the fiscal year 2020. Its top line also took a hit in the first half of this fiscal year, with revenue down 9% for the period ended July 31.
Rent the Runway said its active subscribers more than doubled to 111,732 in the first nine months of 2021.
Demand for second-hand clothes has jumped in recent months as customers become increasingly conscious about their carbon footprint, boosting revenues at styling service Stitch Fix and online resale shop ThredUp.
Goldman Sachs & Co, Morgan Stanley and Barclays are the lead underwriters for the offering. Rent the Runway will list its stock on the Nasdaq under the symbol “RENT”.
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Maju Samuel and Subhranshu Sahu)
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