Yamanli II Hydroelectric Power Plant

Audit Analysis

The Yamanli II Hydroelectric Power Plant is a VCS-registered renewable energy project with a verified additionality test and jurisdictional baseline, but it carries significant data-reliability concerns. The verified emission reductions (591,568 tCO₂) are roughly 8.4 times the pro-rata ex-ante expectation derived from the validation report, and the verification report lists 13 material findings including errors in the grid emission-factor calculation and a timing flaw in the investment analysis that undermines the additionality case. Multiple cross-document inconsistencies in leakage treatment, crediting-period dates, and calibration records further erode confidence in the reported figures.

Project Description

Red Flags

• ⚠Verified ERR of 591,568 tCO₂ is approximately 8.4× the pro-rata ex-ante expectation (≈70,360 tCO₂) derived from the validation report's 117,266 tCO₂ over the original 10-year crediting period, raising serious over-crediting concerns.
• ⚠The investment analysis used input parameters from a revised Financial Sustainability Report (2012) that post-dated the investment decision, undermining the robustness of the investment test (CAR 10).
• ⚠The grid emission factor calculation used an arithmetic average instead of the required weighted average (CAR 19), and the BM_EF calculation did not follow the Emission Factor Tool precisely (CAR 20), both of which affect the magnitude of claimed reductions.
• ⚠Thirteen material findings and eight corrective actions were identified in the verification report, including a contradiction in calibration records and inconsistent geocoordinates across project documents.
• ⚠Leakage justification is inconsistent: the verification report states 'deemed negligible' while the monitoring report indicates leakage was 'quantified'.

Credit Vintages

No issuances recorded on the registry.