1)	Why there is variation in the efficiency levels of Generators one is saying 95% other similar is 95.5% and in another project by the same developer but put as a separate CDM project but with same tech. specification (http://cdm.unfccc.int/Projects/Validation/DB/FO8RM2BZ0Y91CNRKT2G11XYWLKV430/view.html ) it is 98%. Further, upon what basis these efficiencies have been “Proposed”??? is it the same as in the loan document to banks?
2)	Annual export electricity figures, PLF may be checked with the loan application document to the bank and should be checked directly with the bank also in order to authenticate. 
3)	On what basis the CER price has been considered as 20 Euro? Its important to know because else the project shall not be viable without this revenue as tried to show by the PP. therefore, there must be some assured guarantee for purchase of these CERs from a buyer. The same agreement must also have been signed in some date prior to “Start Date”.
4)	No detailed discussion is given regarding the calculation of WACC, DOE must show the initial WACC calculation sheet (submitted by the PP at the start of Validation) at the time of presenting the Validation report along with proofs.
5)	Its ridiculous to put Geological risk as a barrier for a hydro project. Its common to all projects in the region, whats so special about it wrt to the current project?
6)	We seriously doubt the “CDM consideration” and chronology of the CDM activity wrt the project as presented.