Chacayes Hydroelectric Project, Chile

Audit Analysis

The Chacayes hydroelectric project in Chile is a structurally sound CDM avoidance project with VVB-confirmed additionality and a jurisdictional baseline, but the validation report identified multiple errors in the grid emission factor spreadsheet (GCV-to-NCV conversion, LCMR data, solar plant data) requiring eight corrective actions. The absence of monitoring reports, FNRB documentation, and safeguards detail (FPIC, grievance mechanism) limits confidence in the project's ongoing compliance and transparency.

Project Description

Red Flags

• ⚠Eight corrective actions required in the validation report, including errors in the Chile Electricity System Emission Factor spreadsheet (GCV-to-NCV conversion, LCMR data mismatches, incorrect solar plant data, year errors)
• ⚠Contradiction in total ERR figures: the validation report states 234,271 tCO₂e while another document references 1,639,897 tCO₂e — likely annual vs. full-crediting-period, but the discrepancy is not explicitly reconciled in the available record
• ⚠No monitoring reports found in the extracted record despite the crediting period running from July 2019 to July 2026
• ⚠FPIC and grievance mechanism not documented in any available source

Credit Vintages