We are writing to you to report concerns brought to our knowledge regarding the validation of proposed CDM project involving Patnaik Minerals Pvt. Ltd. at Samana Site in Gujarat, India.Following a validation report by the TUEV Nord, which recommends approval, registration of PA #4072 has been requested. However, a major calculation error has been reported to us, potentially making the validation report deficient. In the IRR calculation, TUEV Nord seems to have neglected the EB investment guidance, calculating the equity benchmark and comparing it with the project IRR.
Unsolicited Letter sent on 26 May 2011: download here
Response Letter sent on 16 February 2012: download here