Gullubag 96 MW Hydro Electric Power Plant Project, Turkey
#438of 1935 in Renewable energy#11of 26 in Türkiye#223of 1339 in Verra (VCS)#326of 1287 in ACM0002
Audit Analysis
The Gullubag 96 MW hydro project is a registered VCS avoidance project with VVB-confirmed additionality (investment test) and no reported reversal events or material findings. However, multiple contradictions across documents—particularly in the grid emission factor (0.4616 vs 0.616), baseline method (project-specific vs jurisdictional), and ERR figures—introduce uncertainty about the robustness of the credit calculation. The project delivered roughly 64% of the pro-rata ex-ante expectation for the monitored period, which is conservative, but the parameter discrepancies warrant caution.
Red Flags
- Grid emission factor differs between the PDD (0.4616, 2023) and the verification report (0.616, 2022); the higher value in the VR would inflate credited tonnes if used for the verified period
- Baseline method is described as 'project-specific' in the verification report but 'jurisdictional' in the monitoring report, creating ambiguity about the stringency of the baseline
- CORSIA eligibility and CCP status are not stated in any available document, leaving dual-channel risk unassessed
Credit Vintages
| Issued | Retired | Available | ||
|---|---|---|---|---|
| 2012 | 112,334 | 23,000 | 89,334 | |
| 2013 | 138,920 | 138,920 | 0 | |
| 2014 | 68,606 | 68,606 | 0 | |
| 2015 | 92,690 | 92,690 | 0 | |
| 2016 | 162,035 | 162,035 | 0 | |
| 2017 | 129,771 | 129,771 | 0 | |
| 2018 | 148,565 | 1,000 | 147,565 | |
| 2019 | 147,097 | 1,000 | 146,097 | |
| 2020 | 38,924 | 1,000 | 37,924 | |
| 2022 | 14,926 | 0 | 14,926 | |
| Total | 1,053,868 | 618,022 | 435,846 |
Risk Indicators
VVB-confirmed investment test
Avoidance project, no reversals
0% deduction, justification inconsistent across VRs
Project-specific, method contradicts across docs
FPIC, grievance mechanism, safeguards documented
CORSIA and CCP status not stated
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