Amatitlan Geothermal Project

Audit Analysis

The Amatitlan Geothermal Project is a CDM-era (2008) geothermal project with VVB-confirmed additionality and no reported reversal events, but it carries notable documentation gaps including a baseline method contradiction, a 0% leakage deduction with inconsistent justification history, and a material finding that the initial PDD applied the wrong version of ACM0002. Multiple key safety parameters (FNRB, usage rates, CORSIA/CCP status) are not stated in the available record, limiting confidence in the credit's robustness.

Project Description

Red Flags

• ⚠Initial validation identified that the PDD applied an invalid version of ACM0002 (v5 instead of v6), corrected via CAR 2 — raises questions about the rigor of the original submission
• ⚠Baseline method is contradictory across documents: the validation report (2008) describes it as 'jurisdictional' while the monitoring report (2009) describes it as 'project-specific'
• ⚠Leakage justification is inconsistent: the 2010 monitoring report states leakage was 'not addressed' while the 2012 report states it was 'quantified', yet the deduction remains 0%
• ⚠Grid emission factor is based on 2006 data, which is dated even for a 2008 project start
• ⚠FNRB method, FNRB value, usage monitoring method, and usage rates are all not stated in the available documents

Credit Vintages