1.5 MW Wind Power Project in Maharashtra by M/s. Allgrow ventures

Audit Analysis

A 1.5 MW CDM wind project in Maharashtra with a VVB-verified investment additionality test and a jurisdictional grid-emission-factor baseline. The project's fundamental logic is sound for a renewable-energy displacement activity, but the initial submission contained 33 material findings—many relating to errors in the IRR and financial analysis underpinning the additionality case—and a contradiction in reported emission-reduction figures. Monitoring via smart meters is appropriate, yet the verified ERR figure is absent from the extracted record and several safeguards and eligibility fields remain unstated.

Project Description

Red Flags

• ⚠33 material findings in the validation report, including incorrect IRR calculation (wrong tax rate, missing sensitivity analysis, depreciation errors) and an unclear justification for CDM revenue essentiality, all of which undermine the robustness of the investment additionality test
• ⚠Contradiction in total ERR figures within the same monitoring report (3,210 vs 16,547 tCO₂eq), creating ambiguity about whether the claimed value is a period-specific or lifetime figure
• ⚠Baseline method contradiction: the monitoring report (2020) describes a jurisdictional baseline while the validation report (2011) describes a project-specific baseline
• ⚠Grid emission factor is from 2008 and was initially miscalculated using a simple average rather than a generation-weighted average

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