The California Solar Power Project, carefully selected by Worldway and for which we served as the primary agent, was sold out rapidly. A grand completion ceremony was held on April 24, 2014. Nearly 100 officials from the state, county, and corporate sectors attended the ceremony, and senior executives from the participating companies delivered impressive speeches.
The California Solar Power Project is the largest renewable energy company in the United States and is currently the largest solar thermal power plant in the country, with an installed capacity of 250MW. The project has signed a 25-year power purchase agreement with the largest utility company in California, the NYSE-listed Pacific Gas and Electric Company (PG&E), to sell 100% of its electricity to PG&E at a fixed price. EB-5 investor funds are provided to the project in the form of a loan through a limited partnership to construct the solar thermal power plant.
It is reported that Unit 2 of the California Solar Power Project (UNIT 2) officially began commercial operation (COD) on March 8, 2014. Currently, both units of the project are operating smoothly and are supplying electricity to PG&E in accordance with the agreement. The two major positive developments—the successful completion and smooth operation of the California Solar Power Project—have further strengthened investors' confidence in obtaining permanent green cards and safely recovering their capital through this project, and have once again confirmed the professional capability of Worldway's "Selected Projects."
As one of the first institutions to promote U.S. EB-5 investment immigration in mainland China, Worldway pioneered the era of "Selected Projects" for U.S. investment immigration. Adhering to this standard and the spirit of responsibility toward our clients, we strictly select projects. Every U.S. EB-5 project promoted by Worldway has undergone thorough research and on-site inspection. While ensuring compliance with immigration laws, we recommend "safe" projects with relatively lower risks to our vast number of clients, thereby maximizing the protection of our clients' capital and the success of their immigration. In the future, Worldway will continue to strictly select projects for investors and help more investors successfully realize their immigration dreams.
