SOLAR POWER PROJECT IN GUJARAT, INDIA BY WAA SOLAR LIMITED

Audit Analysis

A 10-year VCS solar project in Gujarat, India, verified by RINA Services with a jurisdictional baseline and no reversal events. The project significantly under-delivered relative to its ex-ante estimate (approximately 19% of the pro-rata expectation for the elapsed monitoring period), making the credit claims conservative. However, four corrective actions were required, the additionality test type is not specified in the extracted record, and multiple contradictions between documents reduce confidence in data consistency.

Project Description

Red Flags

• ⚠Four corrective actions (CAR 4.1.1, 4.1.2, 4.2.1, 4.3.1) were required in the 2024 verification report, indicating unresolved MRV or reporting deficiencies
• ⚠The 2024 verification report records a 0.2% error factor applied to electricity export and import values due to delayed meter calibration, introducing measurement uncertainty
• ⚠Contradictory ERR figures across verification reports (53,801 vs 99,202 verified; 53,801 vs 822,120 claimed) create ambiguity about the true lifetime ex-ante estimate and per-period performance
• ⚠Baseline method is reported as 'jurisdictional' in the 2024 monitoring report but 'project' in the 2012 validation report, creating uncertainty about the baseline's robustness

Credit Vintages