InfraVest Guanyin Wind Farm Project - Taiwan

Audit Analysis

The Guanyin Wind Farm is a Gold Standard renewable energy project with a VVB-confirmed combined additionality test and a jurisdictional baseline, but it is undermined by a grid emission factor drawn from 2007 data, an unstated buffer pool, and recurring data-quality issues (multiple CARs and CLs across monitoring periods). The project delivered roughly 58% of its pro-rata ex-ante expectation for the monitored year, which is conservative and reduces over-crediting risk, yet several contradictions across documents (baseline characterisation, lifetime ERR, grid EF) and the absence of CORSIA/CCP status create residual uncertainty.

Project Description

Red Flags

• ⚠Grid emission factor of 0.66 tCO2/MWh is sourced from 2007 data (PDD, 2011) and has not been updated to reflect Taiwan's current grid mix, potentially overstating or understating abatement per MWh.
• ⚠No buffer pool percentage is stated in any available document, leaving permanence risk unquantified despite reversal events being listed as 'not addressed.'
• ⚠The baseline is characterised as 'jurisdictional' in the 2021 verification report but as 'project-specific' in the 2020 verification report — an unresolved contradiction that affects baseline credibility.
• ⚠Multiple Corrective Action Requests and Clarification Requests across at least three monitoring cycles (2011, 2012, 2021) indicate persistent data-quality and record-keeping weaknesses.
• ⚠CORSIA eligibility and CCP status are not stated in any extracted document, leaving dual-channel or double-claiming risk unassessed.

Credit Vintages