Corrine Weddings goes green with low-interest loan

March 15, 2010 -- New Generation Energy (NGE) provided a low-interest loan to Corrine Weddings of Glastonbury, Conn. This loan supports the installation of a geothermal ground source heat system at Corrine Weddings' headquarters, marking an expansion of NGE's Community Lending Program to the state of Connecticut. The funds to support this project came from NGE's Renewable Energy Investment Notes (REINs).

NGE's loan of $22,646 to Corrine Weddings has an interest rate of 5.0 percent. The loan will be used to install two Hydro-Heat MegaTek Heat pumps and associated equipment. Installation will be performed by King Energy Associates, located in Lebanon, Conn. This system is part of Corrine Weddings overall green renovation of its new headquarters, a structure that was built circa 1865. Over its lifetime, the geothermal system will offset CO₂ emissions by 147,045 lbs, while reducing space and water heating expenses by 40 to 60 precent -- resulting in estimated yearly savings of $8,292.

Corrine Crocker-Luby, Owner of Corrine Weddings said, "Going green makes business sense. The benefits are amazing: not only will we be saving money in the long run, but by using geothermal to heat and cool our building, we can still maintain the beauty of our vintage-styled property; while increasing its energy efficiency."