220MWDC MINBU SOLAR POWER PLANT PROJECT

Audit Analysis

The 220 MW Minbu Solar Power Plant is a VCS-registered renewable energy project with a jurisdictional baseline and VVB-verified investment additionality, but it carries 12 material findings and 12 corrective actions that raise concerns about the robustness of its additionality demonstration, grid emission factor justification, and document consistency. The project delivered roughly 68% of its pro-rata ex-ante expectation for the elapsed monitoring period, which is conservative. Low extraction confidence and multiple missing fields limit the depth of assurance available.

Project Description

Red Flags

• ⚠Twelve material findings reported in the verification report, including unresolved issues with additionality (regulatory surplus, first-of-its-kind) and grid emission factor justification
• ⚠Contradiction in total ERR figures: the PDD (Dec 2022) states 487,220 tCO2e while the validation report (Mar 2025) states 157,103 tCO2e — different bases but the discrepancy was flagged as a material finding
• ⚠Leakage justification is inconsistent between the monitoring report ('deemed negligible') and the validation report ('quantified'), though both result in a 0% deduction
• ⚠Low extraction confidence indicates at least one key document was poorly readable, reducing assurance in the extracted data
• ⚠PDMR template version is outdated (pre-4.2), and multiple sections of both the PD&MR and V&V reports contain missing information or misstatements

Credit Vintages

No issuances recorded on the registry.