Vishnuprayag Hydro-Electric Project (Vhep) By Jaiprakash Power Ventures Ltd.(Jpvl)

Audit Analysis

The Vishnuprayag hydro project is a fundamentally sound avoidance-type project with VVB-confirmed additionality and a jurisdictional grid baseline, but the verification process was marred by 14 material findings including the VVB's failure to assess deviation impacts, non-contiguous monitoring periods, and missing monthly records. The project delivered only ~57.5% of the pro-rata ex-ante expectation for the 2013–2016 monitoring window, and the grid emission factor dates from 2009, raising over-crediting concerns. Multiple cross-document contradictions further erode confidence in the data record.

Project Description

Red Flags

• ⚠The 2021 verification report lists 14 material findings, including the VVB's failure to assess the impact of project deviations on methodology, additionality, and baseline, and the absence of a statement on sufficiency and quality of evidence in the VVB conclusion.
• ⚠The project delivered approximately 57.5% of the pro-rata ex-ante expectation for the 2013–2016 monitoring period (2,889,200 tCO2 verified vs. ~5,021,000 tCO2 expected), a significant under-delivery that may indicate the ex-ante estimate was overly optimistic or that generation was constrained.
• ⚠The grid emission factor of 0.75 tCO2/MWh is from 2009; if India's grid has decarbonised since then, the claimed reductions are likely overstated.
• ⚠Non-contiguous monitoring periods and missing JMRs for July–March 2014 and July–August 2015 create gaps in the emissions accounting chain.
• ⚠The baseline method is recorded as 'jurisdictional' in the 2021 verification report but as 'project' in the 2007 verification report, an unresolved contradiction that affects baseline credibility.

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