11:23 28 Jan 25
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 | 7178 |
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Title of the proposed CDM project activity/PoA submitted for registration | Combined Cycle at Loma de la Lata Thermo Unit Project |
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 is requested to further explain how it has validated the benchmark, in particular: (a) the use of traded corporate bonds of two companies (Transener 2016 and Edenor 2016) as commercial lending rate is appropriate. Furthermore, the DOE is requested to explain the use of two values for the Edenor 2016 for the following date 9/8/2007, 10/8/2007, 13/8/2007, 15/8/2007, 16/8/2007, 17/8/2007, 21/8/2007, 27/8/2007, 28/8/2007, 29/8/2007, 30/8/2007, 31/8/2007; (b) the use the average of debt-total capital ratio of two companies listed in the Buenos Aires Stock Exchange being the representative for the sector in accordance with the EB62 Annex 5 paragraph 8, as the range of the two values are wide. Please refer to VVM version 01.2 paragraph 112, EB62 Annex 5 paragraph 8.. 2) The DOE is requested to further substantiate how it has validated the investment analysis in line with the VVM version 01.2 paragraph 111, in particular: (a) whether the actual interest payable has been taken into account in the calculation of income tax in line with the EB62 Annex 5 paragraph 11, considering the WACC calculation considers the cost of debt component whereas the investment analysis does not consider any interest when calculating the income tax; (b) whether the following input values were available at the time of the investment decision in accordance with the EB62 Annex 5 paragraph 6: (i) TGs Maintenance and other costs (from Average September 2007 Loma de la Lata declaration of CVP ; (ii) TV Maintenance and other costs (from Average September 2007 Güemes declaration of CVP; (iii) Natural gas price (from Average Price at Plant September 2007, VR page 27); (iv) average cost per employee (from mail dated 27/09/2007, VR page 28). Please refer to VVM version 01.2 paragraph 111, EB62 Annex 5 paragraph 6 and 11.. 3) The DOE is requested to further explain how it has validated the barriers: (a) in line with the VVM version 01.2 paragraph 116, considering the impact of the changes in energy policy framework (i.e. the way the spot price of electricity was calculated, maximum electricity tariff, electricity generation companies’ payment and payment for capacity availability) have a clear impact on the financial returns; (b) in accordance with the EB50 Annex 13 paragraph 4 and 9, as the information of the nature of the company involved in the financing and implementation of the project, and that the financing of the project was assured only due to the benefit of the CDM have not been demonstrated. Please refer to VVM version 01.2 paragraph 116, EB50 Annex 13 paragraph 4 and 9.. |
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Date | 06 Feb 13 |
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