27 MWp Solar PV Project by MH Technique Solaire India Private Limited

Audit Analysis

A 27 MWp solar PV project in India with VVB-confirmed investment additionality and a recently reassessed (2025) project-specific baseline. The project overachieved its ex-ante emission reduction estimates by 16.48%, triggering capping at the +10% sensitivity bound, and generated 87 verification findings including multiple corrective action requests. Significant documentation gaps (low extraction confidence, nine cross-document contradictions, no verified ERR figure) and the absence of a buffer pool or explicit permanence treatment limit confidence in the credit's robustness.

Project Description

Red Flags

• ⚠Emission reductions exceeded the ex-ante estimate by 16.48%, breaching the +10% sensitivity analysis upper bound; 2,783 ERs remain pending subject to a temporary change determination
• ⚠Nine contradictions identified across documents, including conflicting CORSIA eligibility (not eligible per 2024 verification vs. eligible per 2025 validation), conflicting baseline method (project vs. jurisdictional), and conflicting FPIC status
• ⚠No buffer pool percentage stated and reversal events explicitly 'not addressed' in the verification report, leaving permanence risk unquantified
• ⚠Minimum extraction confidence rated 'low', indicating at least one key document was poorly readable, undermining data reliability
• ⚠Meter calibration was delayed from December 2022 to February 2023, requiring application of a maximum permissible error factor of 0.2%

Credit Vintages