Fundão-Santa Clara Energetic Complex Project (FSCECP)

Audit Analysis

A CDM hydro project in Brazil displacing grid electricity, validated by RINA in May 2023. The project design is inherently low-risk (hydro, jurisdictional baseline, negligible leakage), but the validation report flagged five material findings related to methodology compliance and emission-factor currency, and the extracted record lacks explicit additionality confirmation and any monitoring data. Low extraction confidence and an unexplained ERR discrepancy between the PDD and validation report further limit confidence in the credit figures.

Project Description

Red Flags

• ⚠Five material findings in the validation report, including non-compliant building-margin data vintage, an outdated operating-margin emission factor, and a monitoring plan missing TEGy provisions required by ACM0002 v21
• ⚠ERR discrepancy: the PDD (April 2023) reports 2,158,065 tCO2e while the validation report (May 2023) reports 308,295 tCO2e — a 7× difference that is not explicitly reconciled in the available documents
• ⚠Additionality test type and VVB confirmation are not stated in the extracted record, leaving a gap in the core CDM requirement
• ⚠No monitoring reports are available for a project that entered its crediting period in May 2022, meaning roughly two years of performance data are absent
• ⚠Minimum extraction confidence is rated low, indicating at least one key document was poorly readable

Credit Vintages