Papart Large Scale Run-of-River Hydro Powerplant Project

Audit Analysis

The Papart hydro project has a solid jurisdictional baseline and VVB-confirmed investment additionality, but is undermined by 17 material findings in the verification report, a complete absence of permanence assessment, and low extraction confidence across the document set. The project over-delivers relative to its pro-rata expectation (158%), which is consistent with hydro variability, but the volume of unresolved data-quality issues and the shift from a quantified to a 'deemed negligible' leakage justification erode confidence in the credit's integrity.

Project Description

Red Flags

• ⚠17 material findings in the 2023 verification report, including incorrect baseline emission estimation, missing regulatory surplus demonstration, and incomplete CDM TOOL11 application
• ⚠Leakage justification shifted from 'quantified' (2021 verification) to 'deemed negligible' (2023 verification) with a 0% deduction, weakening the original quantification
• ⚠Additionality validity for the second crediting period is not described in the project documents
• ⚠Minimum extraction confidence rated 'low', indicating at least one key document was poorly readable

Credit Vintages