Verico SCE has undertaken the project verification of the proposed upstream emission reduction project «Kayseri OSB SPP » in Türkiye to be implemented by Project Owner 
“Kayseri Organize Sanayi Bölge Müdürlüğü” based on the requirements defined by GCC program for the project activity, and other rules applicable to the project verification including 
the host country’s legislation and its specific requirements for sustainable development. 

The purpose of the project is to build a solar PV project which results in reductions of GHG emissions of 369,762 tCO2e during the fixed 10 year crediting period to replace the electricity 
generated by fossil fuel dominated power grid in the host country. It is demonstrated that the project is not a likely baseline scenario and the emission reductions attributable to the project 
are, hence, additional to any that would occur in the absence of the project activity. The project correctly applies the approved baseline and monitoring ACM0002: Grid-connected electricity 
generation from renewable sources, Version 21.0 and is assessed against latest valid Project Standard, Verification Standard and Environment and Social Safeguards Standard and/or other applicable GCC/CDM Decisions/Tools/Guidance. 

To arrive at the final project verification conclusions and opinion, verico SCE carried out desk reviews, background investigations and an on-site mission, taking into account the 
sustainable development related regulations/laws in the host country and specific GCC rules/requirements as well as applicable CDM standards, in particular the approved 
methodology ACM0002: Grid-connected electricity generation from renewable sources, Version 21.0. 

Through the project verification process, the project verification team identified five (5) corrective action requests. The Project Owner has taken actions to address the findings and 
submitted to verico SCE several sets of project document revisions resulting in a final Project Submission Form, version 05 dated 25 June 2026 substantiated by supporting evidence. All 
findings have been appropriately closed before the issuance of this project verification statement.  

The verification team is of the opinion that the GCC project: «Kayseri OSB SPP» with the verified final version of Project Submission Form: 
a. is in accordance with all the relevant GCC program requirements as well as the host country’s national requirements and if implemented as designed, is likely to achieve the 
verified emission reduction estimations of 36,976 tCO2e annually, following the monitoring provisions fixed in the final documentation. 

b. 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  

c. 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 (7,8 and 13), which is likely to achieve the Silver SDG certification label (SDG+) 

d. 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. 
Therefore, verico SCE hereby certifies that the Project Submission Form version 04 dated 14 July 2025  of the proposed GCC project «Kayseri OSB SPP»  is in accordance with the above 
stated requirements.