Assurant Specialty Property, a provider of insurance services, has announced that the construction of a new 1.76 MW, $7 million solar power project has commenced at its office campus off East Leffel Lane in Springfield, Dayton. After completion, it will be the largest solar installation in the area.
The solar project is expected to generate over 1.9 million kWh of power annually. Over 6,200 solar panels are to be installed over the roof top of the campus. Assurant Specialty Property employs nearly 1,900 people at this campus. The project includes 15 new solar carports and Assurant expects the project to be completed this winter.
The power produced at this facility benefits the environment and translates into the equivalent of over 280 ac of pine forest, or planting over 33,000 trees. It will benefit in reducing over 1,400 t of CO2.
Laurel Capital Partners owns the project which is being constructed by Third Sun Solar. The First Niagara Bank has provided the funds and the solar project will be operated by Tangent Energy. Assurant has entered into a 20-year agreement to purchase power at a discount.
The VP for Assurant Specialty Property's Springfield Service Center, Ray Rafferty, stated that the solar project will help the company to control its power costs, by producing most of the required electricity. The project highlights Assurant’s commitment towards reducing greenhouse gases and employing environmentally responsible business practices.
Assurant Specialty Property collaborates with other companies including financial institutions, property managers, and mortgage lenders, to provide insurance services. The company is a part of the specialized insurance products provider, Assurant. The solar project is to be insured by Assurant which has introduced a bundled insurance program for solar installations.
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