Suba and Usaquen Hydroelectric Umbrella Project

Audit Analysis

A Colombian hydroelectric project under VCS AMS-I.D with a jurisdictional baseline and VVB-confirmed additionality, but hampered by 12 material findings (data inconsistencies, missing analyses, calibration gaps), unresolved contradictions on FPIC and grievance mechanism, and a verified ERR that delivered only ~62% of the pro-rata ex-ante expectation for the elapsed monitoring period. The core design elements are sound for a renewable energy project, but documentation quality and stakeholder-engagement evidence are weak.

Project Description

Red Flags

• ⚠12 material findings in the verification report, including inconsistent installed-capacity values, inconsistent EGfacility figures across reports, missing ex-ante vs. achieved ERR analysis, and unverified calibration-error checks against MPE
• ⚠FPIC status contradicts between two PDD versions (conducted per Dec-2023 PDD, not conducted per Apr-2024 PDD); the more recent document indicates FPIC was not carried out
• ⚠Grievance mechanism presence contradicts between the verification report (present) and the 2024 PDD (absent)
• ⚠Verified ERR of 15,525 tCO₂e for the 2019–2021 monitoring period represents only ~62% of the pro-rata expectation derived from the 82,844 tCO₂e lifetime ex-ante estimate, suggesting the ex-ante baseline may be optimistic
• ⚠CORSIA eligibility and CCP status are not stated in any available document, leaving dual-channel risk unassessed

Credit Vintages