Enviance Services Private Limited is contracted by EKI Energy Services Limited for verification of the project activity “Renewable solar photovoltaic project by ACME group-02” (S01272). Enviance Services Private Limited has performed a verification of the “Renewable solar photovoltaic project by ACME group-02”. The project verification is performed on the basis of GCC criteria Project Verification Standard, Version 3.1^/03/ for the project activity, GCC guideline and host country criteria, as well as criteria given to provide for consistent project operations, monitoring and reporting.

The review of the final version of GCC PSF^/09/ Version 08, Dated-04/05/2026^/ and the subsequent Onsite Visit / follow-up interviews has provided Enviance Services Private Limited with sufficient evidence to determine the fulfilment of stated criteria. In our opinion, the project meets all relevant GCC project standard^/02/ requirements for the GCC.

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 CDM baseline and monitoring ACM0002 version 21.0 and applicable CDM Tools. The expected emission reductions (annual average) from the project activity are estimated to be average 668,588 tCO2e/year over the 10 years crediting period starting from 03/04/2022.

The verification has been performed following the requirements of the latest version of GCC verification standard, Version 03.1^/03/, GCC Project Standard^/02/, version 4.0 and on the basis of the contractual agreement.

Enviance Services Private Limited has verified and hereby certifies that the GCC project activity “Renewable solar photovoltaic project by ACME group-02”

a.     has correctly described the Project Activity in the Project Submission Form (version 6.0) including the applicability of the approved CDM Methodology ACM0002 version 21.0 and meets the methodology applicability conditions along with applied Tools, 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 annual average 668,588 tCO₂e as indicated in the PSF^/09/, 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. The project level impacts are identified in the PSF^/09/ for Environmental and Social Safeguarding with an E+ score of 5 and an S+ score of 6. An adequate monitoring system is defined and is in place to monitor these impacts throughout the crediting period. 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 the 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+) subjected to the confirmation at the verification stage. The project-level SDG indicators are defined for each SDG contribution and there is a system in place to monitor and verify the contribution throughout the crediting period.

e.     The Project Activity is not eligible for and has not claimed CORSIA certification label (C+).

In detail the conclusions can be summarized as follows:

-     The project does not result in negative social, environmental and/or economic impacts.

-     The project contribution to Environment, Social Development and Economic and technological development

-     The project additionality is sufficiently justified in the GCC PSF^/09/

-     Conservative assumptions were applied in the project description.

-     The monitoring plan of SDG parameters is transparent and adequate.

-     The project meets the local stakeholder consultation requirements.

-       The project 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+) (net score +6) and the Social No-net-harm Label (S+) (net score +6); and

-       The project is likely to contribute to the achievement of United Nations Sustainable Development Goals (SDGs), comply with the Project Sustainability Standard^/05/., and contribute to achieving a total of 3 SDGs (7, 8, and 13), which is likely to achieve the Silver SDG certification label (SDG+)

-       As per the latest decision of the ICAO Council on “CORSIA Eligible Emissions Units” from GCC Program for CORSIA First Phase (2024 – 2026 compliance period): only ACCs issued to activities involving grid-connected renewable electricity generation/supply that are estimated to have a maximum output capacity lesser than 15 MW of electricity (at the time of registration), individually or grouped. The submitted project activity is A2 type large scale grid connected renewable electricity generation project activity with a maximum output of 300 MW, thus the credits are not eligible for the CORSIA label for the entire crediting period.

The conclusions of this report show, that the project, as it was described in the project documentation, is in line with all criteria applicable for the verification. Therefore, the project is being recommended to GCC Steering Committee for the request for registration