Image courtesy of Shawmut Design and Construction and Payette

Insurer FM Global has broken ground on a new all-electric-powered campus expansion in Norwood that utilizes 221 geothermal wells to reduce its energy consumption.

Designed by Payette, the project replaces a 1950s building with a new 320,000-square-foot office and R&D building at 1165 Providence Highway.

Waltham-based Hobbs Brook Real Estate, the insurer’s real estate arm, is developing the project being built by Boston-based Shawmut Design and Construction.

The new building will be constructed on 500 micropiles and include a high-performance facade designed to minimize energy loss, Shawmut announced. The project also includes a 930-space parking garage.

“FM Global is recornized for their empirical approach to assessing performance and risk,” Charles Klee, principal at Payette, said in a statement. “This is a building that walks the talk. It demonstrates how knowledge gained through their work can be incorporated into a sustainable, resilient, high-performance and iconic work of architecture.

Norwood officials approved the development in April 2023. Completion is scheduled for 2026.