Cirakdami Hydro Electricity Power Plant

Audit Analysis

The Cirakdami hydro project is a registered VCS avoidance project using the standard ACM0002 methodology with a VVB-confirmed investment test and jurisdictional grid baseline. However, five corrective action requests raised during verification, multiple cross-document contradictions (additionality test type, baseline method, ERR figures, grid emission factor), and low extraction confidence in the source documents collectively limit confidence in the project's data integrity. The project appears to have delivered roughly 149% of its pro-rata ex-ante expectation for the monitored period, suggesting a conservative baseline, but the absence of CORSIA/CCP status and buffer pool data leaves residual uncertainty.

Project Description

Red Flags

• ⚠Five corrective action requests (CAR 01–CAR 05) were raised in the verification report, indicating multiple non-conformities that required resolution before credit issuance.
• ⚠The additionality test type is reported as 'investment' in the 2015 validation report but as 'regulatory surplus' in the 2024 PDD — a material discrepancy that could affect the validity of the additionality claim.
• ⚠The baseline method is described as 'jurisdictional' in the monitoring report but as 'project' in the 2024 validation report, creating ambiguity about whether the grid emission factor or a project-specific baseline was applied.
• ⚠CORSIA eligibility and CCP status are not stated in any available document, leaving the double-claiming risk unassessed.
• ⚠Minimum extraction confidence across the 31 source documents is rated 'low', meaning at least one key document was poorly readable and data may be incomplete.

Credit Vintages