Korkmaz Wind Farm Project, Turkey

Audit Analysis

The Korkmaz Wind Farm is a straightforward avoidance-type project with VVB-confirmed additionality and no reversal risk, but it is undermined by a project-specific baseline, an unaddressed leakage justification, and a very large set of material findings and corrective actions (35+) that raise concerns about the robustness of the monitoring and reporting process. The project delivered roughly 68% of its pro-rata ex-ante expectation over the first crediting period, which is conservative, though the 2024 monitoring period shows over-delivery relative to the annualised estimate, consistent with normal wind variability.

Project Description

Red Flags

• ⚠35+ corrective actions and 7 material findings in the 2024 verification report, including inconsistent ER equations, a missing wastewater avoidance calculation, and unclear single-line diagrams, indicating significant MRV quality gaps
• ⚠Leakage deduction of 0% with justification recorded as 'not addressed' in the 2024 verification report, a regression from the 2020 verification which had quantified leakage
• ⚠Baseline method recorded as project-specific in the 2024 verification report, contradicting the PDD's jurisdictional baseline, reducing baseline robustness
• ⚠CORSIA eligibility and CCP status are not stated in any available document, leaving dual-channel risk unassessed

Credit Vintages