22:05 16 Aug 24
Registration Request for Review Form
CDM project activity/programme of activities registration request review form (CDM-REGR-FORM) (Version 03.0) |
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Reference number of the proposed CDM project activity/programme of activities (PoA) submitted for registration | 9210 |
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Title of the proposed CDM project activity/PoA submitted for registration | Punatsangchhu-I Hydroelectric Project, Bhutan |
Please indicate, in accordance with paragraphs 37 and 40 of the CDM modalities and procedures, which validation requirement(s) may require review. A list of requirements is provided below. Please provide reasons in support of the request for review. Including any supporting documentation. | |
The following are requirements derived from paragraph 37 of the CDM modalities and procedures: | |
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The following are requirements derived from paragraph 40 of the CDM modalities and procedures: | |
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Additional information | |
1) The DOE shall further explain how it has validated the suitability of the benchmark, in particular: (a) The applied cost of debt (10%), given that the fact that the interest on the loan applied in the project activity is 9% (PDD, page 21 & 22). (b) The applied equity.debt ratio (50%:50%), given that fact that, the equity/debt ratio of the project activity is 40%:60% (PDD, page 21 & 22). Please refer to VVS, version 3, paragraph 120 (a). 2) The DOE shall further explain how it has validated the suitability of the input values applied in the investment analysis, in particular: (a) The investment costs, in particular why the investment costs of projects in Bhutan are not compared and whether the comparison with Indian project is appropriate. (b) The O&M costs and maintenance spares, in particular why the comparison with Indian regulations is appropriate. Please refer to VVS, version 3, paragraph 120 (a) & (b). 3) The DOE shall further explain how it has validated the barriers analysis, in particular: (a) The investment barrier. In doing so, the DOE shall explain: (i) how it has validated that the identified investment barrier considering it can be mitigated by additional financial means, which can be quantified and represented as costs, in accordance with EB 50, Annex 3, paragraph 7; (b) how it has validated the financial information of the company as per EB 50, Annex 3, paragraph 4, how it has validated that the financing of the project was assured only due to the benefit of the CDM as per EB 50, Annex 3, paragraph 9. (b) Other barriers (geological risks and unfavourable conditions, glacial lake outburst floods, glacial retreat, earthquakes, and barrier due to dependence on external resources for managerial, organizational, project and technical skills), considering that the DOE has not validated how the CDM has alleviated those identified barriers. Please also note that if the barrier can be justified, the barrier shall be removed in the PDD. Please refer to EB 50, Annex 3, paragraph 4, 5, 7 & 9.. 4) The DOE shall further explain how it has validated the correctness and appropriateness of the method applied to calculate grid emission factors, considering that: (a) It is not clear whether the OM of 1.005 tCO2/MWh and BM of 0.553 tCO2/MWh are the emission factors for Indian NEWNE grid or for the combined regional grid (i.e. Indian NEWNE grid and Bhutan grid). In case it is the emission factors for NEWNE grid, the DOE shall further explain why all the electricity generated/supplied by the project is used to calculate the emission reductions since only a portion of the electricity generated will be supplied to Indian NEWNE grid and the other portion will be supplied to Bhutan grid. (b) The source of the data on power plants in Bhutan, which is used to calculate the grid emission factors, was not specified. In doing so, the revised spreadsheet shall be provided in which each step to calculate the emission factors shall be clearly illustrated, and the data of Indian NEWNE grid and Bhutan grid shall be specified respectively. Please refer to Tool to calculate the emission factor for an electricity system, version 3.0. 5) The DOE shall further explain how it has validated the feasibility of the monitoring plan, given the fact that the project activity is to supply electricity to India and Bhutan, and the electricity supplied to the two countries may have different tariff whereas only the total electricity supplied by the project activity will be monitored as per the current monitoring plan, Please refer to VVS, version 3, paragraph 132 (b) (i).. |
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Date | 04 Nov 13 |
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