The Washington Trust Company, the nation's oldest community bank and one of the Northeast's premier financial services companies, has made a significant commercial loan to WindServe Marine, the Atlantic Coast's leading service provider for the offshore wind industry.
The funding will enable WindServe to construct three new 88-foot crew transfer vessels (CTV), recently commissioned by the largest offshore wind developer in the world, Ørsted. This strategic support for the renewable-energy industry expands Washington Trust's already robust and diverse portfolio into the progressive green electricity sector, which is expected to power the future for businesses and the planet.
“Providing financing for alternative sources of energy that benefit this community aligns both with our business and sustainability benchmarks,” said Edward O. Handy III, chairman and CEO of Washington Trust. “Our commercial and industrial team has been successful in supporting established sec
