4K Earth Science Private Limited has been contracted by “Super Carbon X Company Limited” to undertake verification of the project activity “Van Giao Solar Power 1 & Van Giao Solar Power 2,” in Vietnam. The verification was performed based on rules and requirements defined by GCC for the project activity.

The bundled project involves the installation of two solar power plants, Van Giao Solar Power 1 and 2, each with a capacity of 40MWac, resulting in a total capacity of 80MW of photovoltaic (SPV) panels by VanGiao Solar Power Plant Joint Stock Company. The project activity involves the installation of Solar Photovoltaic based Panels to convert the available solar radiation into DC power and thereby convert it to AC Power through the installed Inverters. Generated power from the project is being supplied to the Provincial Viet Nam Electricity Corporation (EVN). Project owners have signed a long-term power purchase agreements with the EVN to supply the generated power at the contracted price. The project activity is developed and operated by Van Giao Solar Power Plant Joint Stock Company. Thus, the project activity is estimated to generate an average of 137,245 MWh/year electricity and displacing 112,949tCO2e/year. The project correctly applies the approved baseline and monitoring ACM0002 version 21.0 and is assessed against latest valid PS, VS and Environment and Social Safeguards Standard, Project-Sustainability-Standard and/or other applicable GCC/CDM Decisions/Tools/Guidance/Forms.

The project activity is likely to achieve the anticipated emission reductions stated in the PSF provided the underlying assumptions do not change. The expected emission reductions (annual average) from the project activity are estimated to be 1,372,451 tCO2e/year over the 10 years crediting period starting from 26/06/2019.

4K Earth Science Private Limited has verified and hereby certifies that the GCC Project Activity “Van Giao Solar Power 1 & Van Giao Solar Power 2”:
• has correctly described the Project Activity in the Project Submission Form (version 09, dated 24/12/2024) including the applicability of the approved methodology ACM0002, version 21.0 and meets the methodology applicability conditions, is additional and is expected to achieve the forecasted real measurable and additional GHG emission reductions, complies with the monitoring methodology, has appropriately conducted local and global stakeholder consultation processes and has calculated emission reduction estimates correctly and conservatively;
• is likely to generate GHG emission reductions amounting to the estimated 11,29,493 tCO2eq over the fixed crediting period of ten years, as indicated in the PSF, which are additional to the reductions that are likely to occur in absence of the Project Activity and complies with all applicable GCC rules, including ISO 14064-2 and ISO 14064-3, and therefore requests the GCC Program to register the Project Activity
• is not likely to cause any net-harm to the environment and/or society and complies with the Environmental and Social Safeguards Standard, and therefore requests the GCC Program to register the Project Activity, which is likely to achieve the requirements of the Environmental No-net-harm Label (E+) and the Social No-net-harm Label (S+); and
• is likely to contribute to the achievement of United Nations Sustainable Development Goals (SDGs), comply with the Project Sustainability Standard, and contribute to achieving a total of 3 SDGs, which is likely to achieve the Silver SDG certification label (SDG+).
• The Project Activity complies with all the applicable requirement of the GCC Program and ICAO’s requirements on CORSIA Emissions Unit Eligibility Criteria and CORSIA Eligible Emissions Units, as per Clarification No 1., v1.3 paragraph 23-25, and the ACCs expected to be issued during the pilot phase is likely to be CORSIA eligible and can be used by International Airlines for offsetting their emissions during pilot phase of CORSIA.
• is likely to contribute to CORSIA Eligible Emission Units and has CORSIA Label (C+) certification valid till 31 December 2020. A written attestation from the Host country on double counting is not required until 31 December 2020 and the project was found meeting the applicable requirements prescribed by ICAO.