Yumrutepe Regulator and 15.013 MW Hydroelectric Power Plant Project

Audit Analysis

A 15 MW hydroelectric project in Turkey with a solid combined additionality test confirmed by a reputable VVB (Applus+), but notable gaps in permanence assessment, baseline method consistency, and several monitoring parameters. The project delivered roughly 57–63% of its pro-rata ex-ante expectation for the elapsed monitoring period, indicating conservative crediting. Moderate data-quality issues (10 CARs, 18 CRs) and unresolved contradictions between documents temper confidence.

Project Description

Red Flags

• ⚠Baseline method is described as 'jurisdictional' in the 2021 verification report but 'project' in the 2019 validation report — an unresolved contradiction that affects baseline credibility
• ⚠Non-permanence risk is explicitly 'not addressed' in the verification report and no buffer pool percentage is stated, despite the absence of a formal reversal-risk rating
• ⚠ERR figures differ across documents (28,883 vs 54,973) and the ex-ante lifetime estimate differs between the PDD (262,241) and the 2019 verification report (238,154), creating ambiguity about the true baseline expectation
• ⚠Ten corrective action requests and eighteen clarification requests were raised during verification, including missing calibration certificates, missing power purchase agreement, and an inconsistency in July 2019 grid-supply figures
• ⚠FNRB methodology, usage monitoring method, and usage rate (assumed and verified) are all absent from the extracted record

Credit Vintages