LGAI Technological Center S.A. (Applus+ Certification) has performed a verification of the “Renewable energy project in Rajasthan by ABC Renewable Energy Pvt. Ltd.”. The verification is performed on the basis of GCC criteria project verification standard, Version 3.1 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 and the subsequent Onsite Visit/follow-up interviews has provided Applus+ Certification with sufficient evidence to determine the fulfilment of the stated criteria. In our opinion, the project meets all relevant GCC project standard requirements for the GCC. The project will hence be recommended by LGAI Technological Center S.A. (Applus+ Certification) 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 730,329 tCO₂e per year.

The verification has been performed following the requirements of the latest version of GCC verification standard, Version 03.1, GCC Project Standard, version 03.1 and on the basis of the contractual agreement.

In detail the conclusions can be summarized as follows:

-          The Project activity is not likely to cause any net-harm to the environment and/or society and complies with the environmental and Social Standard, and therefore requests the GCC Steering Committee 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+). The Project activity is likely to contribute to the achievement of United Nations Sustainability 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 is not eligible for and has not claimed CORSIA Certification label (C+).

-          By generating renewable energy from solar energy resources, the project results in reduction of CO2 emissions that are real, measurable and give long-term benefits to the mitigation of climate change. It is demonstrated that the project is not a likely baseline scenario. Emission reductions attributable to the project are hence additional to any that would occur in the absence of the project activity.

-          The total emission reductions from the project are estimated to be 7,303,290 tCO2e over a fixed 10 year crediting period, averaging 730,329 tCO2e annually. The emission reduction forecast has been checked and it is deemed likely that the stated amount is achieved given the underlying assumptions do not change. The monitoring plan provides for the monitoring of the project’s emission reductions. The monitoring arrangements described in the monitoring plan are feasible within the project design and it is confirmed that the project owners can implement the monitoring plan.

-          In conclusion, LGAI Technological Center S.A. (Applus+ Certification) is of the opinion that the project activity “Renewable energy project in Rajasthan by ABC Renewable Energy Pvt. Ltd” in India, as described in the PSF Version 07, dated 28/10/2024, meets all relevant GCC requirements and all relevant host party criteria and correctly applies the baseline and monitoring methodology “ACM0002: Grid-connected electricity generation from renewable sources --- Version 21.0.

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