Soluciones Energéticas Promigas

Audit Analysis

A Colombian renewable-energy (solar PV) project under the CerCarbono standard with a VVB-confirmed investment additionality test and a jurisdictional grid baseline, but undermined by unresolved ownership questions between Promigas and its subsidiaries, a missing buffer pool, contradictory FPIC and leakage-justification records, and 14 open material findings. The verified emissions reductions are broadly consistent with the pro-rata ex-ante expectation, yet the seven cross-document contradictions and the absence of CORSIA/CCP clarity leave meaningful residual risk.

Project Description

Red Flags

• ⚠Ownership of emission reductions between Promigas and subsidiary asset owners (Surtigas/CEO/GdO) was flagged as a material finding and remains unresolved pending contractual evidence.
• ⚠FPIC status is directly contradicted: the validation report (Jan 2026) records it as not conducted, while the PDD (Jul 2025) claims it was conducted.
• ⚠The ex-ante lifetime ERR figure differs by nearly a factor of two between the validation report (112,382 tCO₂e) and the monitoring report (205,067 tCO₂e), creating uncertainty about the true credit ceiling.
• ⚠Leakage justification is inconsistent: the verification report (Feb 2026) states 'quantified' while the monitoring report (Oct 2025) states 'deemed negligible', yet the deduction is 0% in both.

Credit Vintages