120 MW Solar PV Plant by Juniper Green Sigma Private Ltd. in Gujarat, India

Audit Analysis

A 120 MW solar PV project in Gujarat with a jurisdictional baseline and VVB-verified additionality, but undermined by a serious FPIC contradiction (most recent validation report states FPIC was not conducted), a 0% leakage deduction with no justification, and over 35 corrective actions indicating substantial documentation gaps. The project delivered roughly 96% of the pro-rata ex-ante expectation for the monitored six-month period, which is conservative, but the volume of unresolved CARs and the low extraction confidence in the source documents limit confidence in the overall data quality.

Project Description

Red Flags

• ⚠FPIC contradiction: the 2023 verification report records FPIC as conducted, but the more recent 2025 validation report states it was not — the later document is privileged, leaving a safeguard gap
• ⚠Leakage deduction of 0% with justification recorded as 'not addressed' in the most recent verification report (2025-08-06), superseding an earlier 'deemed negligible' statement
• ⚠Over 35 corrective actions remain open, including missing ESIA, land documents, grievance register, employment records, and multiple absent PDD sections (B.5.1, B.5.2, B.7.1, B.7.3)
• ⚠ERR discrepancy between the validation report (244,434 tCO2e) and the issuance record (1,222,170 tCO2e) — the latter is approximately 5× the former, likely reflecting cumulative vs. per-period figures, but the basis is not explicitly reconciled in the documents
• ⚠Previous monitoring period contained a typographical error in the degradation-factor application, indicating MRV process weaknesses

Credit Vintages