Assurant, Inc., a premier provider of specialty insurance, embarked on its first solar project by conducting a nationwide search. Kokosing Solar was selected for its expertise in solar project development and construction. The collaboration resulted in a 1.8 MW solar project structured as a Power Purchase Agreement (PPA). This $5 million roof and parking canopy project was designed and built by Kokosing Solar’s team, delivered on time and within budget.
The project faced complexities such as locating and passing significant below-ground obstructions using direct boring equipment. Additionally, the construction took place on an active corporate campus with a fully utilized parking lot of a three-shift data center.
The project’s financing is structured as a 25-year PPA. Kokosing Solar chose a finance partner to own and operate the project using their investors’ capital. The legal and tax structure involves ownership by a special purpose entity (LLC), with all tax benefits, including depreciation, flowing directly to equity holders.
Power purchase agreements include a 25-year PPA and site lease between Assurant and Tangent, an EPC construction contract between Tangent and Kokosing Solar, and operations and maintenance agreements between Tangent and Kokosing Solar.
For further information or to begin a free solar evaluation, contact Kokosing Solar at 877-696-7652 or via email at solar@kokosing.biz.
