Hebei Bodeyulong Phase Three 49.5 MW Wind Farm

Audit Analysis

A 49.5 MW onshore wind farm under CDM with a VVB-confirmed investment additionality test and no inherent permanence risk, but the record is weakened by an internal contradiction in reported emissions reductions, a financial calculation error flagged as a corrective action, and inconsistent baseline and leakage characterisations across documents. The project is fundamentally low-risk in design (wind displacement of grid electricity) yet the documentation gaps and data inconsistencies prevent a higher confidence rating.

Project Description

Red Flags

• ⚠Internal contradiction within the same monitoring report: two different total ERR figures (379,850 and 35,847) appear for the same field, creating uncertainty about the actual verified reduction volume.
• ⚠Corrective Action 02 identifies an incorrect income-tax calculation in the IRR spreadsheet (negative values in the first two years), which directly undermines the investment-test additionality claim.
• ⚠Baseline method is described as 'project-specific' in the 2016 monitoring report but 'jurisdictional' in the 2012 validation report, raising questions about which baseline was actually applied.
• ⚠Verified ERR for the monitoring period (2013–2016) is not found in the extracted record, preventing an independent cross-check of claimed reductions.

Credit Vintages