Cermikler 25.00 MW Hydroelectric Power Plant Project

Audit Analysis

The Cermikler 25 MW hydro project is a fundamentally sound avoidance-type renewable energy project with VVB-confirmed additionality, no reversal events, and no material findings. However, a project-specific baseline, a grid emission factor discrepancy between the PDD and monitoring report, and a low extraction confidence across 11 documented contradictions introduce moderate uncertainty. The project delivered roughly 76% of its pro-rata ex-ante expectation for the elapsed monitoring period, indicating conservative rather than inflated crediting.

Project Description

Red Flags

• ⚠Grid emission factor discrepancy: the PDD uses 0.4568 tCO2/MWh while the monitoring report (2025-02-07) uses 0.56 tCO2/MWh — a 23% difference that could affect credit calculations
• ⚠Baseline method contradiction: the verification report (2023) designates a project-specific baseline, while the monitoring report (2025) references a jurisdictional baseline — the methodology basis is unclear
• ⚠Min extraction confidence is rated low, and 11 contradictions were identified across documents, including internal inconsistencies within the same verification report on safeguards, FPIC, and grievance mechanism
• ⚠Five corrective actions were required by the VVB, including incomplete project description sections and unclarified compliance with local/national legal frameworks

Credit Vintages