Honiton Energy Bailingmiao Phase Two Windfarm Project

Audit Analysis

A Gold Standard wind project in China with VVB-verified additionality and no inherent reversal risk, but hampered by a project-specific baseline, a 0% leakage deduction with contradictory justifications across documents, and a notably high volume of corrective and clarification requests (8 CARs, 6 CLs) that signal MRV data-quality weaknesses. The most recent one-month monitoring period delivered only about 32% of the pro-rata ex-ante expectation, though this is within the range of normal wind variability given the prior period's over-delivery.

Project Description

Red Flags

• ⚠Eight corrective action requests and six clarification requests were raised and closed during verification, including missing meter calibration records, missing original electricity data for Jan–Feb 2012, and spreadsheet data-linkage errors — indicating recurring MRV quality issues.
• ⚠The most recent monitoring period (Aug–Sep 2016, one month) verified only 3,149 tCO2e against a pro-rata expectation of roughly 9,717 tCO2e (≈32%), a significant short-term under-delivery that warrants scrutiny of capacity-factor assumptions.
• ⚠Leakage justification is contradictory: the verification report (2017) states leakage was 'quantified' while the monitoring report (2015) states it was 'deemed negligible,' yet the deduction is 0% in both cases.
• ⚠Grid emission factor differs between the PDD (1.0548, 2009) and the verification report (0.9502), a 10% swing that affects credit volume; the lower value used in verification is conservative but the basis for the change is not clearly documented.

Credit Vintages