Shenzhen CTI International Certification Co., Ltd (CTI) has been commissioned by Beijing Carbon X Technology Co., Ltd. to perform the independent project verification of the GCC project activity: “Jinshui River Stage 3 Hydropower Plant”. The objectives of this project verification is to verify that the GCC project meets the 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 v3.0, GCC verification standard v3.1, GCC Environment & Social safeguards standard v3.0, ISO 14064-2 & ISO 14064-3, applicable approved CDM Methodology: ACM0002 Version 21.0: Grid-connected electricity generation from renewable sources, Applicable Legal requirements/rules of host country, 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 (version 2.0 dated 12/03/2023).

The GCC project activity involved the construction and operation of Greenfield 48MW hydro power plant in Jinshui River Town, Jinping County, Honghe Autonomous Prefecture, Yunnan Province, P.R. China. The expected net annual average electricity generation of the project activity is approximately 196,966 MWh. The electricity thus generated will be sold to the South China Power Grid. In the absence of the project activity, the equivalent amount of electricity would be supplied from GHG intensive grid. The emission reduction will be based on the amount of baseline electricity avoided due to the project and is calculated using the applied CDM Methodology: ACM0002 Version 21.0: Grid-connected electricity generation from renewable sources.

The project verification team has verified that the information submitted by the project owner is correct and that the emission reduction achieved has been determined correctly. Based on the information seen and evaluated, the project verification team has requested for registration of the GCC by confirming the following:

Project title

Jinshui River Stage 3 Hydropower Plant

 (project submission reference no: S00299)

Sectoral Scope and Methodology used

Sectoral Scope 1: Energy Industries (renewable/non-renewable sources)

ACM0002 Version 21.0: Grid-connected electricity generation from renewable sources.

The Project Owner has correctly described the Project Activity in the Project Submission Form (version 2.0 dated 12/03/2023) including the applicability of the approved methodology and meets the methodology applicability conditions and is expected to achieve the forecasted real and additional GHG emission reductions, complies with the monitoring methodology, has appropriately conducted local and global stakeholder consultation processes and has calculated emission reductions estimates correctly and conservatively.

Estimated Emissions reductions

The Project Activity is likely to generate GHG emission reductions amounting to the estimated 100,226 tCO₂e/year, 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.

Voluntary Certification Labels

The Project Activity 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 Social No-net-harm Label (S⁺).

The Project Activity 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⁺)

CORSIA

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 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.