Heilongjiang Dabaishan Wind Power Project

Audit Analysis

A CDM wind power project in China with VVB-verified additionality, but the validation report reveals the project IRR (7.24%) falls below the 8% benchmark and the common practice analysis was incomplete, raising meaningful additionality concerns. Multiple contradictions across documents (baseline method, leakage justification, crediting period) reduce confidence in the data record. The project delivered roughly 74% of its pro-rata emission reduction expectation for the first monitoring period.

Project Description

Red Flags

• ⚠Project IRR without CDM revenues is 7.24%, below the 8% benchmark threshold cited in the validation report, undermining the investment additionality case
• ⚠Common practice analysis identified only two similar projects and excluded both due to special financing/tax privileges, leaving the analysis effectively empty
• ⚠Four corrective actions were required by the VVB, including updating additionality tools, clarifying monitoring procedures, correcting tariff figures, and completing the common practice analysis
• ⚠Baseline method is contradictory: the validation report describes a jurisdictional baseline while the monitoring report references a project-specific baseline

Credit Vintages