8MW Waste Heat Recovery Based Power Project By Sree Rengaraaj Power India Private Limited

Audit Analysis

A registered VCS energy-efficiency project (waste heat recovery, 8 MW) with a VVB-confirmed combined additionality test and consistent claimed/verified ERR figures for the 2021–2022 monitoring period. However, the verification report flagged a material finding on meter calibration, nine corrective actions were required, the grid emission factor dates from 2008 while monitoring covers 2021–2022, and the crediting period on file (2006–2016) predates the monitoring window, raising questions about the project's current compliance status. Safeguards documentation is thin: no FPIC and no grievance mechanism were recorded.

Project Description

Red Flags

• ⚠Crediting period on file (2006-03-28 to 2016-03-27) ended before the 2021-2022 monitoring period; no evidence of a renewal or extension in the extracted record, raising a compliance question about whether credits issued for this period are valid.
• ⚠Material finding in the 2023 verification report: energy meters were not calibrated at the frequency required by the monitoring plan, undermining confidence in the 156,573 tCO2e figure.
• ⚠Nine corrective actions (CAR 3.1.1 through 3.5.1) were required in the 2023 verification, indicating systemic MRV or reporting deficiencies.
• ⚠Grid emission factor of 0.8557 tCO2/MWh is from 2008, yet is applied to a 2021-2022 monitoring period; if the Indian grid has decarbonised, this could overstate avoided emissions.
• ⚠No FPIC conducted and no grievance mechanism documented, despite safeguards being mentioned in the 2023 verification report.

Credit Vintages Exhausted