Great news! The California solar EB-5 project (Genesis Solar Project), represented by Worldway Group, has celebrated the successful I-829 approval of its first batch of investors! This indicates that the project documentation submitted to the immigration authorities with the investors' I-829 petitions has been recognized by the immigration authorities, who have also confirmed that the jobs actually created by the project satisfy the conditional residency removal requirements for all investors. Other investors who have submitted their I-829 petitions for the project will enter a fast-track approval process; based on the "deference policy," as long as individual documentation meets the requirements, their I-829 petitions will be approved shortly.
As a partner on the investors' immigration journey, Worldway Group congratulates these investors on successfully obtaining their permanent green cards and realizing their American dream!
Since the California Solar Project began operations and power generation, it has performed strongly, with results exceeding expectations. Previously, the top international rating, commentary, and research agency, Fitch Ratings, announced the credit rating results for the project's debt. Fitch affirmed the project's primary debt rating at "AAA," with a stable outlook. Furthermore, according to Fitch's calculations, the project's debt service coverage ratio for 2017 was a strong 2.84x. Due to better-than-expected solar resource levels and high equipment utilization, the total power generation of the California Solar Project in 2017 exceeded Fitch's base production forecast by 7.6%, and it achieved a revenue growth 9.3% higher than Fitch's base forecast. Power generation in the first quarter of 2018 also exceeded Fitch's base budget expectations due to increased solar resources. The strong operations of the California Solar Project provide security for EB-5 loan repayment.
In addition, the EB-5 loan for the California Solar Project is guaranteed by NextEra Energy, Inc., the world's largest publicly traded wind and solar energy company, providing a dual guarantee for EB-5 repayment. The parent company's stock is stable, with a recent share price of $166.85 and a market capitalization of $79.61 billion.
The California Solar Project has lived up to the trust of its investors with robust operations that have exceeded expectations. The good news of the first batch of I-829 approvals reinforces the investors' confidence in their choices and proves once again that Worldway and its EB-5 projects are worthy of every investor's trust and selection.
As one of the top 500 Asian brands and a leader in investment immigration, Worldway Group has spent 21 years deeply involved in U.S. investment immigration. We have always prioritized the interests of our investors, utilizing our consistent forward-looking perspective to carefully select high-quality EB-5 projects to help them smoothly achieve their immigration dreams.
Given the current situation, investors can choose quality projects that have already been approved by immigration authorities, show promise for shortening wait times, have completed all job creation, and offer first-priority repayment guarantees. Examples include highly popular Worldway projects in the EB-5 market: the 9 Orchard luxury boutique hotel in Manhattan and the Dallas No. 1 project. Both projects possess multiple advantages that significantly protect the interests of investors and help them successfully immigrate to the United States.
High-quality project quotas are limited. Those interested in immigrating to the United States should make their choices as soon as possible. Great projects do not wait, and the opportunity for low-cost $500,000 immigration to the United States will not return once missed. It is essential to apply for a green card early; please call for a consultation as soon as possible at: 400-138-2929.