80 MW SOLAR BY FERMI SOLAR FARMS PVT LTD - CHALISGAON.

Audit Analysis

An 80 MW solar PV project in India with VVB-confirmed additionality via an investment test and a straightforward renewable-energy credit structure. The project is generally sound but is held back by a project-specific (non-jurisdictional) baseline, inconsistent leakage justification across documents, a material finding on incorrect project coordinates, and seven corrective actions related to reporting inconsistencies. No reversal risk applies given the renewable-energy nature of the credits.

Project Description

Red Flags

• ⚠Material finding: earlier reported project coordinates were incorrect and did not represent the actual location (2025 verification report)
• ⚠Seven corrective actions required, including inconsistent crediting-period dates, missing meter serial numbers, and a transmission-loss calculation not aligned with the PDD monitoring plan
• ⚠Leakage justification is contradictory: the 2022 verification report states leakage was 'not addressed' while the 2025 monitoring report calls it 'deemed negligible'—no quantified analysis is documented in either
• ⚠Baseline method is described as 'project' in the 2019 verification report but 'jurisdictional' in the 2025 monitoring report, creating ambiguity about the actual baseline approach

Credit Vintages