Assurant Special Property, part of Assurant Inc., says construction has begun on a 1.76 MW solar installation at its Springfield, Ohio, office.
The $7 million solar project calls for the installation of more than 6,200 modules on the campus' rooftop. Once completed, the project is expected to produce more than 1.9 million kWh annually.
Assurant, which offers specialized, bundled insurance program for commercial-scale solar installations, will be insuring its own solar project. Under a 20-year power purchase agreement, the company will purchase energy generated by the array at a discount to retail rates. The system's performance will be monitored and managed using Tangent AMP, a proprietary technology platform.
The project is owned by Laurel Capital Partners, with funding provided by First Niagara Bank. Tangent Energy will operate the array. Construction is being performed by Third Sun Solar, an installer based in Athens, Ohio.
