Enviance Services Private Limited has performed a verification of the “Boyali Bundled SPP”. The project verification is performed on the basis of GCC criteria Project Verification Standard version 3.0 for the project activity, GCC guidelines and host country criteria, as well as criteria given to provide for consistent project operations, monitoring and reporting.

The review of the final version of GCC PSF^/2/ and the subsequent Virtual Site Visit / follow-up interviews has provided Enviance Services Private Limited with sufficient evidence to determine the fulfilment of stated criteria. In our opinion, the project meets all relevant GCC project standard requirements for the GCC. The project will hence be recommended by Enviance Services Private Limited for registration with the GCC.

By displacing fossil fuel-based electricity with electricity generated from a renewable source, the project results in reductions of CO₂ emissions that are real, measurable and give long-term benefits to the mitigation of climate change. Emission reductions attributable to the project are hence additional to any that would occur in the absence of the project activity. Given that the project is implemented as designed, the project is likely to achieve the estimated amount of annual emission reductions of 10,982 tCO₂ equivalent per year.

The verification team has been performed following the requirements of the GCC verification standard version 3.0^/1/, GCC Project standard version 3.0 and on the basis of the contractual agreement.

In detail the conclusion can be summarized as follows:

The project does not result in negative social, environmental and/or economic impacts.

-     The project contribution to Environment, Social Development and Economic and technological development

-     The project additionality is sufficiently justified in the GCC PSF^/2/

-     Conservative assumptions were applied in the project description.

-     The monitoring plan of SDG parameters is transparent and adequate.

-     The project meets the local stakeholder consultation requirements.

-       The project 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+) (net score +4) and the Social No-net-harm Label (S+) (net score +2); and

-       The project is likely to contribute to the achievement of United Nations Sustainability Development Goals (SDGs), comply with the Project Sustainability Standard^/1/., and contribute to achieving a total of 3 SDGs (7, 8, and 13), 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 crediting period is likely to be CORSIA eligible and can be used by International Airlines for offsetting their emissions during all phases of CORSIA and therefore requests GCC Steering Committee to append CORSIA Certification label (C+) to this project. The written attestation from the Host country on double counting shall be submitted by the project owner at ACCs issuance stage. A FAR remains open regarding the same.

The conclusions of this report show, that the project, as it was described in the project documentation, is in line with the criteria applicable for the verification.