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Bank System News

11 Feb 2022

New York’s First Offshore Wind Farm: Ørsted, Eversource Sanction 130MW South Fork Wind Project

©Ørsted  (File Photo)

Ørsted and Eversource have taken the final investment decision (FID) on the South Fork Wind project that will be New York’s first offshore wind farm. The FID comes after the South Fork Wind joint venture, owned 50/50 by Ørsted and Eversource, last month received final approval from the Bureau of Ocean Energy Management (BOEM) for its construction and operations plan, the final in the agency’s review of the project. Once completed at the end of 2023, the 130MW offshore wind farm will generate enough electricity to power 70…

20 Jan 2022

Construction of New York’s First Offshore Wind Farm Set to Start as Final Approval Granted

Credit: Orsted

The U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM) has granted Construction and Operations Plan (COP) for the South Fork Wind, New York’s first offshore wind farm, Ørsted confirmed Thursday. This is the final decision needed from the agency to move the project toward the start of construction. The approximately 130 MW South Fork Wind project, owned by the Danish firm Orsted AS and U.S. company Eversource Energy, will be located about 19 miles (30.58 km) southeast of Block Island…

03 Feb 2014

Maritime & Merchant AS Granted Banking License

Maritime & Merchant AS (M&M) (TBR Maritime & Merchant Bank ASA) has received regulatory approval to operate a private bank in Norway, underpinning the firm’s strategy to become a niche financial institution dedicated to meeting the funding needs of owners active in the shipping and offshore industries, worldwide. “We are currently preparing for a capital issue with a target of $300-350 million (USD) in equity to fund operations. We have selected Pareto Securities AS and DNB Markets as Joint Lead Managers and Bookrunners, with Cleaves Securities to act as Financial Advisor.