Anshan Iron and Steel Group Corporation (Yingkou) Coke Dry Quenching Power Generation Project

Audit Analysis

A CDM energy-efficiency own-generation project (ACM0004 v2) with VVB-verified combined additionality and a jurisdictional baseline, but undermined by four material findings (including IRR recalculation and PDD inconsistencies), three cross-document contradictions, and the absence of a buffer pool or verified ERR figure. The project delivered roughly 263% of its pro-rata expectation in the first monitoring period, which is conservative, but the documentation gaps and unresolved data fields limit confidence in the overall credit quality.

Project Description

Red Flags

• ⚠Four material findings in the verification report, including changes to the IRR calculation and common-practice analysis (CAR 10, 11), which directly affect the additionality finding
• ⚠No buffer pool percentage or reversal-event data found in any available document, leaving permanence risk unquantified for a 10-year crediting period
• ⚠Verified ERR figure is not stated in the extracted record, preventing an independent check of the project's actual delivery against its claim
• ⚠Baseline method is characterised as 'project' in the 2010 monitoring report but 'jurisdictional' in the 2009 validation report — an unresolved contradiction that affects baseline credibility

Credit Vintages