Barroso 20MW hydroelectric project

Audit Analysis

The Barroso 20 MW hydro project is a Gold Standard-registered small hydro scheme in Colombia with VVB-confirmed additionality and a 2023 baseline reassessment, but it is undermined by a project-specific baseline, an unaddressed 0% leakage deduction, a grid emission factor that was initially overstated by 33%, and an extensive list of material findings and corrective actions spanning ownership changes, meter calibration delays, and a tunnel collapse event. Verified emissions reductions for the 2021 monitoring period exceeded the pro-rata expectation by roughly 54%, partly attributable to La Niña-driven higher flows, which is a positive signal but does not offset the structural documentation and methodological gaps.

Project Description

Red Flags

• ⚠Leakage deduction of 0% with justification recorded as 'not addressed' in the 2023 verification report, while the monitoring report claims it was 'deemed negligible' — an unresolved contradiction that leaves the leakage treatment unverified.
• ⚠Grid emission factor was initially reported as 0.403 tCO2e/MWh in the 2023 verification report but corrected to 0.303 per UPME Resolution 000320, meaning early-period credits were overestimated by approximately 33%.
• ⚠Twenty or more corrective action requests were raised across validation and verification cycles, including missing Ongoing Financial Need assessment, unclear ex-ante generation traceability, and a tunnel collapse event that was not initially disclosed in the monitoring report.
• ⚠Ownership changed from Barroso S.A.S E.S.P to ISAGEN S.A E.S.P during the crediting period, triggering a FAR and requiring PDD updates — a material change that could affect additionality and benefit-sharing arrangements.

Credit Vintages