CCIPL was contracted by Kosher Climate India Private Limited for project verification on 20/12/2022 /33/ for the project activity “111.776 MWp Bundled Solar Power Plant in Vietnam”. The project verification was performed based on rules and requirements defined by GCC for the project activity.

 The project activity is a solar 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 /B01/ and is assessed against latest valid GCC Project Standard /B02-1/, GCC Verification Standard /B02-2/ and Environment and Social Safeguards Standard /B02-4/, Project-Sustainability-Standard /B02-5/ and/or other applicable GCC/CDM Decisions/Tools/Guidance/Forms.

 The project activity is likely to achieve the anticipated emission reductions stated in the PSF provided the underlying assumptions do not change. The expected emission reductions (annual average) from the bundled project activity are estimated to be 143,496 tCO₂e/year over the 10 years crediting period starting from 29/06/2020.

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

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

 ·       The desk review of documents and evidence 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 owners.

·       Reporting audit findings with respect to clarifications and non-conformities and the closure of the findings, as appropriate

·       Preparing a draft verification opinion based on the auditing findings and conclusions.

·       Technical review of the final project verification opinion along with other documents as appropriate by an independent competent technical review team.

·       Finalization of the project verification opinion (this report)

Subject to closure of all the raised findings in Appendix 4 of this report, the GCC Project Verifier, Carbon Check (India) Private Ltd, verifies and certifies that the GCC Project Activity “111.776 MWp Bundled Solar Power Plant in Vietnam”:

(a) has correctly described the Project Activities in the Project Submission Form (Version 10, dated 29/04/2024) including the applicability of the approved CDM methodology, ACM0002, version 21.0 /B01/ and meets the methodology applicability conditions, is additional 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 reduction estimates correctly and conservatively;

(b) is likely to generate 166,064 MWh / year of electricity (for the fixed 10 years crediting period), as indicated in the PSF version 10 /01-i/, which are generated from existing baseline scenario of the national grid of Vietnam in the 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 (Subject to closure of all findings raised) 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 (Subject to closure of all findings raised) to the achievement of United Nations Sustainable 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+).

(e) 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 verification report describes a total of 33 findings, which include:

• 23 Corrective Action Requests (CARs);

• 09 Clarification Requests (CLs);

• 01 Further Action Required (FARs);

All CARs and CLs are resolved by the project owner. FAR is to be verified during subsequent emission reduction verification.