Great news! The Genesis Solar Project, represented by Worldway Group, has officially welcomed the full repayment of the first batch of EB-5 investors. This follows the positive news from September 2018, when the first investors in this project received I-829 approval.
Currently, the California solar project is operating steadily and performing above expectations. The successful full repayment to investors not only reaffirms the confidence of Worldway Group’s investment clients in their choice but also once again proves that Worldway Group’s EB-5 projects are worthy of every investor's trust and selection.
As is well known, EB-5 investment requires passing three critical milestones: the I-526 petition, the I-829 petition, and the repayment stage. For this project, all I-526 applications for Worldway Group investors were approved long ago. With the first batch of investors’ I-829 applications now approved, and in accordance with the principles of adjudication, we anticipate receiving more good news regarding I-829 approvals for more investors in this project in the future.
Since commencing operations, the California solar project power plant has shown strong performance, with development exceeding initial expectations. Earlier, the top international rating, commentary, and research agency, Fitch Ratings, released its debt rating results for the project. Fitch assigned an "AAA" rating to the project's primary debt, with a stable rating outlook. Furthermore, according to Fitch's calculations, the Debt Service Coverage Ratio (DSCR) for the project in 2017 was a robust 2.84x. Due to solar resource levels exceeding expectations and high equipment utilization rates, the total power generation of the California solar project in 2017 was 7.6% higher than Fitch's base production forecast, achieving revenue growth 9.3% higher than the base projection. The project's power generation in the first quarter of 2018 also exceeded Fitch's base budget expectations due to increased solar resources. The strong performance of the California solar project provides a solid guarantee for EB-5 repayment.
In addition, the EB-5 loan for the California solar project is provided with a repayment guarantee by NextEra Energy, Inc., the world's largest publicly traded wind and solar power company, providing a dual guarantee for EB-5 investment repayment. The publicly traded parent company has a stable stock price, with a recent share price of $180.28 and a market capitalization of $86.164 billion.
Worldway Group experts state that the successful full repayment to the first batch of investors will undoubtedly boost the confidence of all investors in the project regarding their own future repayments. As other investors meet the requirements for repayment, they will also receive their full repayments in due course.
As a top 500 Asian brand and a leading institution in investment migration, Worldway Group has spent years deeply cultivating the U.S. investment immigration market. We consistently prioritize investor interests and, with our foresight, select high-quality EB-5 projects to help investors successfully realize their immigration dreams!
Available spots for high-quality projects are limited. Those intending to immigrate to the United States should make their choices as soon as possible; excellent projects do not wait, and the opportunity for $500,000 low-cost U.S. immigration will not return once missed. It is essential to apply for a Green Card early. Please call us for consultation at 400-138-2929.
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