Ghani Solar Renewable Power Project by Greenko Group

Audit Analysis

The Ghani Solar project is a VCS-registered solar avoidance project in India with a VVB-confirmed investment additionality test and a jurisdictional baseline, but its integrity is undermined by a large volume of material findings and corrective actions (over 20 findings, 16 CARs) covering double-counting declarations, formula errors, and template non-compliance. Pro-rata delivery is reasonable at roughly 111% of the expected share for the 15-month monitoring window, consistent with a higher-than-estimated plant load factor. Documentation quality is a notable weakness, reflected in low extraction confidence and numerous administrative gaps.

Project Description

Red Flags

• ⚠FPIC was not conducted despite the project operating in a community context in India
• ⚠Over 20 material findings and 16 corrective actions were raised across verification and monitoring reports, including a missing double-counting declaration and a formula in the MR that did not align with the applied methodology
• ⚠Low extraction confidence across the document set indicates at least one key document was poorly readable, reducing reliability of the extracted record

Credit Vintages