Bundled Captive Solar Power Project by Dalmia Cement

Audit Analysis

A straightforward captive solar PV installation for Dalmia Cement in India, verified by TÜV SÜD with an investment additionality test and no material findings. The project is low-risk in terms of permanence and leakage given its renewable-energy nature and captive use, but significant discrepancies between the 2023 and 2025 PDDs on total ERR (545,048 vs 85,443 tCO₂) and on baseline methodology (jurisdictional vs project-specific) introduce uncertainty about the robustness of the credit quantity and baseline design.

Project Description

Red Flags

• ⚠Total ERR claimed dropped from 545,048 tCO₂ in the September 2023 PDD to 85,443 tCO₂ in the June 2025 PDD — an 84% reduction with no clear explanation in the extracted record, raising questions about scope changes or data reliability.
• ⚠Baseline method is described as 'jurisdictional' in the 2025 PDD but 'project-specific' in the validation report; the validation report (the authoritative design document) is privileged, but the inconsistency weakens confidence in the baseline.
• ⚠Leakage justification is contradictory: the monitoring report (Dec 2023) states leakage was 'quantified' while the validation report (Jun 2025) labels it 'deemed negligible,' with a 0% deduction in both cases.

Credit Vintages

No issuances recorded on the registry.