60 MW Bandirma Wind Power Plant Project

Audit Analysis

A 60 MW onshore wind project in Turkey under Gold Standard with VVB-verified investment additionality and a 98.7% verified-to-claimed ERR ratio, indicating a fundamentally sound and conservative credit. However, the leakage justification is marked as 'not addressed' in the most recent verification report, the baseline method is inconsistently described across documents, and the grid emission factor used is from 2019 (a five-year gap relative to the 2024 monitoring period), all of which introduce moderate uncertainty. The extensive list of corrective actions (four CARs, two CRs) that were subsequently closed out signals documentation gaps that were remediated but reduce confidence in the initial reporting quality.

Project Description

Red Flags

• ⚠Leakage justification recorded as 'not addressed' in the January 2025 verification report, contradicting the earlier 'deemed negligible' statement in the 2021 verification report; no explicit quantitative or qualitative leakage analysis is documented for the current period.
• ⚠Grid emission factor of 0.6482 tCO₂/MWh is sourced from 2019 data while the monitoring period is 2024, creating a five-year staleness gap that could affect baseline accuracy.
• ⚠Baseline method is described as 'project' in the 2025 verification report but 'jurisdictional' in the 2024 monitoring report, creating ambiguity about whether the grid emission factor was applied as a jurisdictional or project-specific parameter.
• ⚠CORSIA eligibility and CCP status are not stated in any available document, leaving the double-claiming risk unassessed.

Credit Vintages