Hoa Binh 1 Wind Power Project

Audit Analysis

The Hoa Binh 1 Wind Power Project is a Gold Standard wind project with VVB-confirmed additionality and a reasonable pro-rata delivery rate (~93% of expectation for the elapsed monitoring period). However, contradictions between the verification and monitoring reports on baseline method and leakage justification, combined with the absence of explicit CORSIA/CCP status, introduce moderate uncertainty. The project is fundamentally low-risk as a wind avoidance project with no reversal events, but documentation gaps and a project-specific baseline prevent a higher rating.

Project Description

Red Flags

• ⚠Baseline method is contradictory: the verification report (May 2024) states a project-specific baseline while the monitoring report (April 2024) references a jurisdictional baseline — the less robust project-specific interpretation is privileged
• ⚠Leakage justification is inconsistent: the verification report describes it as 'quantified' while the monitoring report calls it 'deemed negligible,' yet both apply a 0% deduction
• ⚠CORSIA eligibility and CCP status are not stated in any available document, leaving double-claiming risk unconfirmed
• ⚠Grid emission factor is from 2018 and no updated value or reassessment date is provided

Credit Vintages