Third Sun breaks ground on 1.76-MW solar project in Ohio
Sep 26, 2012 - US solar system installer Third Sun Solar has started building in Ohio a 1.76-MW solar project on the campus of Assurant Specialty Properties, a unit of US insurer Assurant Inc (NYSE:AIZ), the latter said in a statement today.
Construction of the solar system is to be finished this winter.
US investment firm Laurel Capital Partners owns the USD-7-million (EUR 5.4m) project, which will include some 6,200 solar panels spread on the roof of Assurant's Springfield Service Centre and atop 15 solar carports in the parking area. Clean energy solutions provider Tangent Energy Solutions will operate the system.
The solar power facility will generate above 1.9 million kWh of power per year, enough to save 1,400 tonnes of carbon dioxide emissions, Assurant Specialty Properties calculates. Assurant will buy the output under a 20-year power purchase agreement (PPA) with Laurel Capital at a price below retail rates.
First Niagara Bank, owned by First Niagara Financial Group Inc (NASDAQ:FNFG), has provided financing for the project.