CCIPL was contracted on 27/10/2022 /42/ by First Climate (Switzerland) AG for project verification of the bundled project activity “Benban Solar Park Bundled Project 5” in Egypt. The project verification was performed based on rules and requirements defined by GCC for the project activity.

The bundled project activities are a bundled 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 bundled project activity. The project correctly applies the approved baseline and monitoring GCCM001 “Methodology for Renewable Energy Generation Projects Supplying Electricity to Grid or Captive Consumers”, Version 3.0 /B01/ and is 

assessed against latest valid Project Standard/B02-a/, Verification Standard /B02-b/and Environment and Social Safeguards Standard/B02-d/, Project-Sustainability-Standard/B02-e/ and/or other applicable GCC/CDM Decisions/Tools/Guidance/Forms. /B01-B08/

The bundled 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 236,402 tCO₂e/year over the 10 years crediting period starting from 20/02/2018.

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 owner

·       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 draft project verification opinion along with other documents as appropriate by an independent competent technical review team.

·       Finalization of the project verification opinion (this report).

The GCC Project Verifier, Carbon Check (India) Private Ltd, has verified and certifies that the GCC Project Activity “Benban Solar Park Bundled Project 5” in Egypt”.

(a) Has correctly described the bundled Project Activities in the Project Submission Form (Version 02.7, dated 25/01/2024) /01-i/ including the applicability of the approved  methodology, GCCM001., Version 3.0 /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 474,702 MWh / year of electricity (for the fixed 10 years crediting period), as indicated in the PSF version 02.7 /01-i/, which are generated from existing baseline scenario of the national grid of Egypt in the absence of the bundled 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 /B02-d/, 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 Sustainability Development Goals (SDGs), comply with the Project Sustainability Standard /B02-e/, 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 40 findings, which include:

·       30 Corrective Action Requests (CARs);

·       09 Clarification Requests (CLs);

All findings are resolved by the project owner.

  01 Further Action Required (FARs) has been raised in this project verification. And thus the Project is being submitted for request for registration to the GCC Steering Committee.