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...Under an initial deal with Brazilian authorities, BHP and Vale agreed to fund the Renova Foundation, a non-profit organisation set up to provide compensation to affected communities....
...In parallel to Renova, Samarco has separately made R$2.6bn in direct compensation payments....
...The Rio de Janeiro-based company said it was maintaining contributions towards the non-profit Renova Foundation....
...BHP and Vale set up the Renova Foundation in 2016 to carry out repair and compensation work for those affected by the tailings dam collapse....
...“In addition, there is considerable potential that these claims are covered by Renova.”...
...The company also said it had agreed to fund a further $700m in financial support for Renova Foundation, set up to oversee reparations for the dam disaster under a settlement with Brazilian prosecutors, and...
...“[They] present the best solution that enables Samarco to . . . continue operating, contributing to the local economy of Minas Gerais and Espírito Santo and funding the Renova Foundation,” he said....
...Ryota Suzuki, director of operations for renewables group Renova, says that the company took advantage of the early FITs and locked in reliable revenues for at least 13 years, but it has no further plans...
...Renova has already spent £1.4bn....
...They created a foundation called Renova to oversee reparations and remediation work in Minas Gerais, where Samarco is located. It has so far paid out $2.1bn....
...Mr Vekselberg has hired lawyers to seek to overturn the Ofac sanctions, which apply to him personally and all the companies he controls through his holding company Renova....
...But as its influence grows, Renova — meaning Renew — has increasingly come under fire....
...Russian state lender Promsvyazbank recently gave oligarch Viktor Vekselberg’s Renova, which was also hit by US sanctions, a loan he used to pay off SFr1bn in debt to Swiss banks....
...Mr Rakishev bought the shares for 5p in December 2017 from Mr Vekselberg’s Renova Group. Last June he supported the return of Mr Maslovskiy to the company in a shareholder vote....
...Russian billionaire Viktor Vekselberg plans to appeal US sanctions placed against him and his Renova industrial empire....
...Andrei Shtorkh, a spokesperson for Renova, told the FT on Sunday that Renova had no outstanding debts to western banks....
...Mr Hambro was ousted as an executive in June 2017 by shareholders, following a motion called by Russia’s Renova Group, which is led by billionaire Viktor Vekselberg....
...The trio launched AAR (Alfa, Access, Renova) and bought 40 per cent of a struggling oil producer called TNK for $800m....
...Renova was a “good” shareholder that had been invested for 10 years....
...A spokesperson for Mr Vekselberg’s Renova Group declined to comment....
...According to other corporate filings, Mr Intrater has served as a director at Renova US Management LLC and held other executive positions at Renova Group....
...Both Renova and Mr Vekselberg have been targeted with sanctions....
...Volvo has already developed an autonomous rubbish truck, which it has trialled with waste company Renova....
...Mr Vekselberg and Renova Group were sanctioned over election meddling by the US earlier this year....
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