Mariposas Hydroelectric Project
#876of 1935 in Renewable energy#12of 31 in Chile#542of 1339 in Verra (VCS)
Audit Analysis
The Mariposas Hydroelectric Project is a VCS-registered renewable energy project in Chile with a verified combined additionality test, a jurisdictional baseline reassessed in 2023, and no inherent reversal risk. However, the verification report identified 18 material findings and corrective actions related to calibration gaps, missing ex-ante parameters, and equipment misidentification, which significantly undermine confidence in the MRV chain. The project delivered 21,476 tCO2e for the 2022–2023 monitoring period, below ex-ante estimates due to drier hydrological conditions, which is a conservative outcome.
Red Flags
- 18 material findings and corrective actions identified in the 2024 verification report, including calibration gaps for energy meters (2018 and 2020), missing ex-ante parameters, and inconsistent equipment identification between the PDD and monitoring reports
- Contradiction in baseline method: the verification report (2024) states 'jurisdictional' while the monitoring report (2023) states 'project' — the higher-priority verification report is privileged, but the discrepancy raises questions about baseline robustness
- CORSIA eligibility and CCP status are not stated in any available document, leaving dual-channel risk unassessed
Credit Vintages
| Issued | Retired | Available | ||
|---|---|---|---|---|
| 2011 | 9,899 | 9,898 | 1 | |
| 2012 | 26,681 | 26,645 | 36 | |
| 2013 | 20,281 | 20,281 | 0 | |
| 2014 | 19,880 | 7,934 | 11,946 | |
| 2015 | 21,740 | 0 | 21,740 | |
| 2016 | 14,970 | 0 | 14,970 | |
| 2017 | 14,820 | 487 | 14,333 | |
| 2018 | 15,614 | 0 | 15,614 | |
| 2019 | 14,196 | 1,289 | 12,907 | |
| 2020 | 13,982 | 13,982 | 0 | |
| 2021 | 8,641 | 8,641 | 0 | |
| 2022 | 11,874 | 11,874 | 0 | |
| 2023 | 9,602 | 9,602 | 0 | |
| Total | 202,180 | 110,633 | 91,547 |
Risk Indicators
VVB-verified combined test
Avoidance project, no reversal risk
Deemed negligible, reasonable for grid-replacement hydro
Jurisdictional, reassessed 2023
FPIC conducted, grievance mechanism present
CORSIA and CCP status not stated
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