Cuyamel Hydroelectric Project

Audit Analysis

The Cuyamel Hydroelectric Project is a small-scale AMS hydro scheme in Honduras that displaces grid electricity, giving it inherently low reversal and leakage risk. However, the verification record contains four material findings including PDD calculation errors, a weak leakage justification, and unresolved contradictions between the validation and monitoring reports on baseline method and total ERR. The project is functional but carries moderate data-reliability concerns that temper confidence in the claimed credits.

Project Description

Red Flags

• ⚠Four material findings in the monitoring report, including an error in the ex-ante Operating Margin calculation and incorrect baseline emissions data in the PDD, with three corrective actions required
• ⚠Leakage deduction of 0% with justification recorded as 'not addressed' in the more recent monitoring report, despite the validation report having deemed it negligible
• ⚠Total ERR discrepancy between documents: 162,033 tCO2e (monitoring report, 2022) vs 22,671 tCO2e (validation report, 2014) — likely a reporting-period difference but not explicitly reconciled
• ⚠Baseline method described as 'project-specific' in the monitoring report but 'jurisdictional' in the validation report, creating ambiguity about the baseline's robustness

Credit Vintages