DAEGU & SINANJEUNGDO PV(PHOTOVOLTAIC) POWER PLANT PROJECT

Audit Analysis

A CDM grid-connected solar PV project in South Korea with VVB-confirmed additionality and an appropriate jurisdictional baseline, but plagued by persistent monitoring failures (the Daegu site was entirely discounted to zero), consistent under-delivery of 17–28% below ex-ante estimates, and multiple unresolved corrective actions. The project's integrity is undermined by meter-sharing issues with a non-CDM plant and an outdated 2006 grid emission factor, while the absence of FNRB, usage-rate, and CORSIA/CCP documentation limits confidence in the credit's robustness.

Project Description

Red Flags

• ⚠Daegu PV site emission reductions discounted to 0 tCO2e across multiple monitoring periods due to inability to separate CDM and non-CDM plant output on a shared meter
• ⚠Actual emission reductions consistently 17.7–28.1% below ex-ante PDD estimates across multiple monitoring periods, attributed to unaccounted grid imports and climatic variability
• ⚠Grid emission factor of 0.6349 tCO2/kWh is sourced from 2006 KEPCO data and has not been updated to reflect South Korea's evolving grid mix
• ⚠Multiple corrective actions remain open, including meter replacement, DNA approval letter submission, and PDD form completion

Credit Vintages