Re Carbon Gözetim Denetim ve Belgelendirme Ltd. Şti. performed the project verification of the “Teksin SPP” in “Türkiye” between 31/08/2022 and 14/07/2022. The project verification was performed on the basis of requirements of GCC project framework v2.1, GCC program manual v3.1, GCC program processes v4.0, GCC project standard v3.1, GCC project sustainability standard v2.0, GCC project verification standard v3.1, GCC Environment & Social safeguards standard v2.0, GCC Program definitions v3.1, ISO 14064-2 & ISO 14064-3, applicable approved CDM Methodology “ACM0002: Grid-connected electricity generation from renewable sources”, version 20.0, applicable tools and Host Party Criteria.

The project verification was performed by a project verification team consisting of “Sandeep Kanda as the GCC Project Auditors’ team leader, Öykü Yakupoğlu as the GCC Project Auditor, Selen Cilasun as the GCC Project Auditor Trainee, Seza Danışoğlu as the Financial Expert and Rohit Badaya as the ITR” and the project activity was checked against the applicable rules and regulations of CDM including CDM Validation and Verification Standard for project activities version 3.0, CDM Project Standard for project activities version 3.0, and the GCC requirements which are indicated in the above paragraph.

ACCs, E⁺, S⁺, SDG⁺ additional labels and C⁺ (for CORSIA) are applied to the project activity. ACCs are found using the correct baseline emissions and emission reduction formulas in the ER Calculation Excel sheet. Indicators suitable for the project activity for E⁺ have been selected in Section E.1 and related monitoring parameters have been added to B.7.1. The same situation is available for S⁺ label as well. Indicators suitable for the project activity for S⁺ have been selected in Section E.2 and related monitoring parameters have been added to B.7.1. CORSIA requirements are all justified correctly for the project activity except the Host Country attestation requirement. This attestation will be provided during the first (or subsequent) emission reduction verification period of the project activity. FAR-01 has been issued about this Host Country Attestaion.

Re Carbon Gözetim Denetim ve Belgelendirme Ltd. Şti. hereby confirm that the proposed project activity “Teksin SPP” in Türkiye, applied all relevant EB-guidance as the selected baseline and monitoring methodologies and the associated methodological tools have been applied correctly. The total emission reductions from the project are estimated to be on the average of 46,102 tCO2e per annum over the selected 10 year crediting period. The emission reduction forecast was checked and it is deemed likely that the stated amount will be achieved, given that the underlying assumptions do not change.

As a result, the project verification team assigned by Re Carbon Gözetim Denetim ve Belgelendirme Ltd. Şti. concludes that the proposed Project Activity “Teksin SPP” in Türkiye, as described in the PSF (version 07.1 and 09/06/2023)

·        meets all relevant Host Country criteria;

·        meets all relevant requirements of the UNFCCC criteria for the Clean Development Mechanism (CDM), requirements of GCC project framework v2.1, GCC program manual v3.1, GCC program processes v4.0, GCC project standard v3.1, GCC project sustainability standard v2.0, GCC project verification standard v3.1, GCC Environment & Social safeguards standard v2.0, GCC Program definitions v3.1, ISO 14064-2 & ISO 14064-3,

·        applies correctly the baseline and monitoring methodology ACM0002: Grid-connected electricity generation from renewable sources, version 20.0;

·        its additionality is sufficiently justified in the PSF;

·        is likely to generate GHG emission reductions amounting to the estimated 461,020 tCO₂e, 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;

·        is not likely to cause any net-harm to the environment and/or society and complies with the Environmental and Social Safeguards Standard, and is likely to achieve the Environmental No-net-harm Label (E+) and the Social No-net-harm Label (S+);

·        is likely to contribute to the achievement of United Nations Sustainability Development Goals (SDGs), complies with the Project Sustainability Standard, and contributes to achieving a total of 4 SDGs, with the Gold SDG certification label (SDG+):

·        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. The Project Activity complies with all the applicable requirements 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 21-23, 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.

Therefore, Re Carbon Gözetim Denetim ve Belgelendirme Ltd. Şti. requests the registration of the proposed project activity as a GCC project activity.