CCIPL was contracted by Kosher Climate India Private Limited for project verification on 20/12/2022 /33/ for the project activity “42.5 MW Thuan Minh 2 Solar Power Plant”. 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 CDM approved baseline and monitoring methodology 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 project activity are estimated to be 67,119 tCO₂e/year over the 10 years crediting period starting from 27/06/2019 to 26/06/2029.

 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 audit 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 “42.5 MW Thuan Minh 2 Solar Power Plant”:

(a) has correctly described the Project Activities in the Project Submission Form (Version 08, dated 28/06/2024) 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, 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  annual average of 77,675 MWh/year of electricity (for the fixed 10 years crediting period), as indicated in the PSF version 08 /01-g/, which are generated from existing baseline scenario of the national grid of Viet Nam 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) 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 verification report describes a total of 31 findings, which include:

• 21 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 1^st or  subsequent emission reduction verification.