Hoa Binh 1 – Phase 2 Wind Power Project

Audit Analysis

The Hoa Binh 1 Phase 2 wind project is a Gold Standard renewable-energy avoidance project with VVB-confirmed additionality and a reasonable 0% leakage deduction, but it is undermined by eight cross-document contradictions (additionality test type, baseline method, FPIC status, crediting period, and others), the absence of a verified ERR figure, and two open corrective actions. Pro-rata delivery is approximately 88% of the lifetime ex-ante expectation for the elapsed period, which is within a normal range, yet the lack of an independently verified figure limits confidence in the claim.

Project Description

Red Flags

• ⚠Eight contradictions across documents, including conflicting additionality test types (common-practice vs investment), baseline method (project vs jurisdictional), and FPIC status (conducted vs not conducted), indicating inconsistent project documentation.
• ⚠No verified ERR figure was found in the extracted record; only a claimed figure of 124,091 tCO₂e from the monitoring report is available, leaving the credit quantity unconfirmed by an independent verification.
• ⚠Two Corrective Action Requests and one Corrective List item remain open from the 2024 verification report, signalling unresolved compliance gaps.
• ⚠FPIC is recorded as not conducted in the PDD (2022), the primary project design document, despite a monitoring report (2020) stating it was performed — a safeguard gap for a community-adjacent wind project in Vietnam.

Credit Vintages