Bundled Yeonggwang(II)-Yecheon PV (Photovoltaic) Power Plant Project in KHNP

Audit Analysis

A CDM solar PV displacement project in South Korea using the well-established AMS-I.D methodology with a jurisdictional baseline and VVB-confirmed additionality. The project delivered roughly 103% of its pro-rata expected reductions in the first monitoring year, but eight corrective actions at verification and a 0% leakage deduction with inconsistent justification language across documents temper confidence. Key transparency gaps include the absence of a verified ERR figure in the extracted record and missing FNRB and usage-rate data.

Project Description

Red Flags

• ⚠Eight corrective actions were required at verification, covering bundling documentation, baseline scenario description, stakeholder consultation, emission-factor conservativeness, and meter accuracy — indicating significant procedural gaps in the original submission.
• ⚠Leakage justification is inconsistent: the PDD (2012) describes leakage as 'quantified' while the monitoring report (2014) labels it 'deemed negligible,' both resulting in a 0% deduction.
• ⚠No verified ERR figure was found in the extracted record, making it impossible to independently confirm the 11,881 tCO2e reported in the monitoring report against the PDD's lifetime claim of 114,790 tCO2e.
• ⚠No buffer pool, permanence risk assessment, or reversal-event history is stated in any available document.

Credit Vintages