Shenzhen CTI International Certification Co., Ltd. (CTI) was contracted by Sinohydro (Hong Kong) Holding Ltd. on behalf of GCC project owner for verification of the project activity “Upper Marsyangdi A Hydropower Project” in Nepal. 

The objectives of this project verification is to validate that the GCC project meets the requirements of GCC project framework v2.1, GCC program manual v3.1 /1/, GCC program processes v4.0, GCC project standard v3.1 /2/, GCC project sustainability standard v3.1 /5/, GCC verification standard v3.1 /3/, GCC Environment & Social safeguards standard v3.0 /4/, ISO 14064-2 & ISO 14064-3, applicable approved GCC “Methodology for Grid Connected Renewable Energy Generation Projects” ACM0002: “Grid-connected electricity generation from renewable sources”, Version 21.0 /8/, Applicable Legal requirements/rules of host country, National Sustainable Development Criteria and CORSIA requirements and other GCC  requirements related to aspects such as project design, applicable conditions, project boundary, baseline scenarios, additionality, emission reduction, monitoring plan, local stakeholder consultation, global stakeholder consultation, GHG emission reductions (ACCs), environmental no-net harm label (E+), social no net harm label (S+), Gold SDG label (SDG+), CORSIA+. This report summarizes the final project verification opinion which is based on Project Submission Form v4.0.

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 project activity is a hydro power project, which results in reductions of CO₂e 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 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 /8/ and is assessed against latest valid PS, VS and Environment and Social Safeguards Standard and/or other applicable GCC/GCC Decisions/Tools/Guidance/Forms. 

The project activity is likely to achieve the anticipated emission reductions stated in the PSF /14/ provided the underlying assumptions do not change. The expected emission reductions (annual average) from the project activity are estimated to be 92,141 tCO2e/year over the selected Fixed 10 years crediting period starting from 01/01/2017. The project activity is likely to achieve the anticipated emission reductions stated in the PSF provided the underlying assumptions do not change. 

CTI has informed the project owners of the verification outcome through the draft verification report and final verification report. The final verification report contains the information with regard to fulfilment of the requirements for verification, as appropriate. 

CTI applied the following verification process and methodology using a competent verification team; 

• the desk review of documents and evidences submitted by the project owner in context of the reference GCC rules and guidelines issued, 
• undertaking/conducting site visit, interview or interactions with the representative of the project owner, 
• reporting audit findings with respect to clarifications and non-conformities and the closure of the findings, as appropriate and 
• preparing a draft verification opinion based on the auditing findings and conclusions 
• technical review of the draft verification opinion along with other documents as appropriate by an independent competent technical review team 
• finalization of the verification opinion (this report) 

Shenzhen CTI International Certification Co., Ltd. (CTI) has verified and hereby certifies that the GCC project activity “Upper Marsyangdi A Hydropower Project”: 

a. has correctly described the Project Activity in the Project Submission Form (Version 3.0, Dated 20/08/2023) including the applicability of the approved methodology ACM0002: “Grid-connected electricity generation from renewable sources”, Version 21.0 /8/ 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; 

b. is likely to generate GHG emission reductions amounting to the estimated 92,141 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, and therefore requests the GCC Program to register the Project Activity; 

c. 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 

d. 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 4 SDGs, which is likely to achieve the Gold SDG certification label (SDG+).

e. CORSIA eligibility was confirmed.