Grouped Hydro Power Project by EKI Energy Services Limited

Audit Analysis

A small hydro power project in Nepal under VCS AMS-I.D. with a VVB-confirmed investment additionality test and no material findings. However, a significant discrepancy between the original PDD ex-ante estimate (159,162 tCO2e) and the revised PDD/verified figure (26,567 tCO2e) — where the verified value exactly matches the revised claim — raises concerns about the robustness of the credit quantity. Leakage treatment is contradictory across documents, and several key parameters (buffer pool, CORSIA/CCP status, baseline reassessment date) are not stated.

Project Description

Red Flags

• ⚠The verified ERR of 26,567 tCO2e exactly matches the revised PDD claim (2024-07-31), while the original PDD (2023-01-25) claimed 159,162 tCO2e — a 6-fold reduction that is not explained in the extracted record and suggests the claim may have been adjusted to fit the verification result.
• ⚠Leakage justification is contradictory: the monitoring report states leakage was 'quantified' while the validation report (2024-09-11) states it was 'not addressed', yet the deduction is 0%.
• ⚠Baseline method is contradictory: the validation report (2024-09-11) records a project-specific baseline while the PDD (2024-07-31) records a jurisdictional baseline; the more conservative project-specific interpretation is privileged.
• ⚠Buffer pool percentage and reversal event history are not stated in any available document, leaving permanence risk unquantified.

Credit Vintages