30 MW Wind Energy Project by Giriraj Enterprises
GS-1737 ↗ · current registry ID: GS6756
#814of 1935 in Renewable energy#411of 975 in India#487of 1801 in Gold Standard (GS)#634of 1287 in ACM0002
Audit Analysis
A 30 MW wind energy project in India under Gold Standard with a jurisdictional baseline and VVB-confirmed investment additionality test. The project carries moderate integrity risk due to an initially unmet Ongoing Financial Need requirement and a mid-project ownership transfer, while CORSIA eligibility introduces a residual double-claiming concern. Documentation quality is weakened by 14 material findings (mostly initially missing records) and several cross-document contradictions, though the core methodology (ACM0002) is well-established for wind.
Red Flags
- Ongoing Financial Need (OFN) was not initially demonstrated as required by GS PAR 4.1.52/4.1.53, undermining the investment additionality case until corrective action was taken
- CORSIA eligibility is confirmed (true) while CCP status is not stated, creating a potential dual-channel double-claiming pathway
- FPIC status is contradictory: the validation report (2020) records FPIC as conducted, but the PDD (2023) records it as not conducted
- Ownership transferred from Giriraj Enterprises to Moryana Renewable Kochi Private Limited mid-project, introducing governance and continuity risk
- Verification report dated 2024-04-16 appears to cover a monitoring period running through 2024-12-31, raising questions about the completeness of the verification at the time of issuance
Credit Vintages
| Issued | Retired | Available | ||
|---|---|---|---|---|
| 2018 | 35,786 | 35,786 | 0 | |
| 2019 | 63,215 | 62,066 | 1,149 | |
| 2020 | 48,223 | 963 | 47,260 | |
| 2021 | 46,422 | 40,426 | 5,996 | |
| 2022 | 4,803 | 0 | 4,803 | |
| Total | 198,449 | 139,241 | 59,208 |
Risk Indicators
Investment test VVB-confirmed but OFN initially unmet
Avoidance project, no reversal events reported
0% deduction, deemed negligible (appropriate for wind)
Jurisdictional grid EF, reassessed 2023
FPIC contradictory; grievance mechanism present but register initially missing
CORSIA-eligible confirmed; CCP status not stated
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