Hasang Hydro Electric Power Plant

Audit Analysis

The Hasang Hydro project has a VVB-confirmed additionality assessment and a reasonably complete documentation set, but is undermined by a 0% leakage deduction with no stated justification, a contradiction in baseline methodology between the validation and monitoring reports, and an unexplained discrepancy where verified emissions reductions are nearly double the claimed figure. The on-site inspection was not physically conducted due to the pandemic, and several key transparency fields (FNRB, CORSIA eligibility, usage monitoring) are absent from the record.

Project Description

Red Flags

• ⚠Leakage deduction is 0% with the justification recorded as 'not addressed' in the 2022 monitoring report, despite an earlier 2021 report indicating leakage was quantified — a material gap for a hydro project where displaced generation and reservoir emissions are relevant.
• ⚠Baseline methodology is described as 'project-specific' in the 2022 monitoring report but 'jurisdictional' in the 2020 validation report, creating uncertainty about which baseline was actually applied.
• ⚠Verified emissions reductions (216,320 tCO2e) are nearly double the claimed figure (112,654 tCO2e) for the same monitoring period, a discrepancy that is physically implausible for a single hydro plant and suggests a data extraction or reporting error.
• ⚠On-site inspection was not physically conducted; a Skype meeting was used as an alternative, reducing the robustness of the verification.

Credit Vintages