InfraVest Taiwan Wind Farms Bundled Project 2012

Audit Analysis

A bundled Taiwan wind farm project under Gold Standard with a jurisdictional baseline and low inherent permanence risk, but severely undermined by 18 material findings, a 30% reduction in verified emissions reductions after corrections, and a contradictory additionality verification record. The project delivered only about 62% of its pro-rata ex-ante expectation for the monitored period, and multiple documentation gaps (grid emission factor inconsistency, outdated methodology, missing PDD elements) raise meaningful over-crediting concerns.

Project Description

Red Flags

• ⚠18 material findings in the 2021 verification report, including a 17.69% under-delivery of verified reductions versus estimates, grid emission factor inconsistency in the PDD, and the Chubei Wind Farm being sold and excluded from the project design mid-crediting-period
• ⚠Additionality verification by the VVB is contradictory across reports: the 2018 verification report confirms it, but the more recent 2019 verification report does not, leaving the additionality claim unconfirmed
• ⚠Verified emissions reductions dropped from 80,558 tCO2e (2020 verification) to 56,027 tCO2e (2021 verification) after corrective actions, a 30% reduction that signals the initial claims were overstated
• ⚠Five corrective actions remain required, including correcting installed capacity, adding missing meter data, updating emission factors, and revising the PDD to exclude the Chubei Wind Farm

Credit Vintages