KAROVA WPP

Audit Analysis

KAROVA WPP is a Gold Standard wind project in Turkey with a VVB-confirmed investment additionality test, a jurisdictional baseline reassessed in 2024, and no reversal risk inherent to the wind-avoidance design. However, the project record is marred by multiple contradictions in emission-reduction figures across documents, a 24% underperformance relative to the PDD estimate, and a large volume of corrective actions that point to documentation-quality issues. The project delivered roughly 144% of the pro-rata lifetime expectation for the elapsed monitoring year, which is reassuring for claim safety, but the inconsistent reporting and unresolved methodological discrepancies temper confidence.

Project Description

Red Flags

• ⚠Multiple contradictory ERR figures across documents: the monitoring report (Dec 2025) claims 49,480 tCO2e while the verification report (Oct 2025) verifies 93,777 tCO2e for the same 2024 monitoring period — a 90% gap that is unexplained in the extracted record.
• ⚠Leakage justification is internally contradictory: the Oct 2025 verification report states leakage was 'quantified' while the Aug 2025 report states it was 'deemed negligible,' yet the deduction is 0% in both cases.
• ⚠28 corrective action requests and 7 clarification requests were raised and closed during verification, indicating significant documentation and calculation errors in the project's submissions.
• ⚠The project generated 24.07% less electricity (76,228 MWh vs 100,400 MWh) and 24.07% less CO2 reduction (84,008 vs 110,639 tCO2) than the PDD estimated, attributed to lower wind speeds — a material underperformance that was not flagged as a risk in the ex-ante analysis.
• ⚠A remote audit was conducted on 31/03/2020 without a documented justification for the deviation from in-person verification requirements.

Credit Vintages