WIND POWER PROJECT BY RAJASTHAN GUM PRIVATE LIMITED (EKI.CDM.JULY-11-01)

WIND POWER PROJECT BY RAJASTHAN GUM PRIVATE LIMITED (EKI.CDM.JULY-11-01) Document Prepared By EPIC Sustainability Services Private Limited Project Title Report Title Wind Power Project by Rajasthan Gum Private Limited (EKI.CDM.July-11-01) Gap validation and verification of Wind Power Project by Rajasthan Gum Private Limited (EKI.CDM.July-11-01) Version 1.0 Report ID Verification Period Client ESSPL/VCS/2015/013 24-Sep-2011 to 31-December-2012 Rajasthan Gum Private Limited Pages 19 Date of Issue 02 nd August 2016 Prepared By Contact Approved By Work Carried Out By EPIC Sustainability Services Private Limited 41, Anugraha, 1st Cross, Sundarnagar, Near BEL Circle, Bangalore- 560054, Karnataka, India Mr. K. Sudheendra (Head-Operations) Mr. A. Prabu Das (Lead Auditor cum Technical expert) Mr R. Vijaya Ragahvan (Technical reviewer) v3.0 1

Summary: EKI Energy Services Limited as the authorize representative on behalf of Rajasthan Gum Private Limited has appointed EPIC Sustainability Services Private Limited to perform the gap validation and first periodic verification of the emission reductions reported for the project titled Wind Power Project by Rajasthan Gum Private Limited (EKI.CDM.July-11-01) (UNFCCC Project ID: 7377) for the period from 24-Sep-2011 to 31-December-2012. The verification was based on the validated project design document (PDD) version 05 dated 1 st November 2012, VCS PD version 02 dated 22 nd July 2016, corresponding validation report and other supporting documents made available to the verification team by the client. The project activity involves setting up of a 10.8 MW capacity wind project comprising of 6 Wind Electric Generators (WTGs) (3 of 2,100 kw & 3 of 1,500 kw) at Karnataka & Rajasthan. The main purpose of the project activity is to generate electrical energy through sustainable means using wind power resources, to utilize the generated output for selling it to the Karnataka & Rajasthan state and to contribute to climate change mitigation efforts. The verification team identified, through the verification process, 06 CARs and 04 CL. The PP has taken actions and submitted to EPIC the revised monitoring report and supporting evidence. In summary, it is the opinion of EPIC that the proposed VCS project activity has correctly applied the baseline and monitoring methodology AMS I D - Grid connected renewable electricity generation (Version 17, EB 61) for the project activity and meets the relevant VCS standard v3.5 and VCS guideline v3.5 requirements. The estimated GHG reductions from the project would be real, measurable, permanent and additional. The verification team, through the verification process, confirmed that the emission reductions achieved by the project activity during the monitoring period are correctly calculated in the monitoring report, Version 02, dated 22 nd July 2016 based on the approved monitoring methodology. Therefore, EPIC certifies the emission reductions amounting to 22,744 tco2e during the monitoring period. v3.0 2

Table of Contents TABLE OF CONTENTS PAGE 1.0 Introduction 4 2.0 Validation and verification process 5 3.0 Validation findings 8 4.0 Verification findings 12 5.0 Validation and Verification conclusion 15 Appendix A: Resolution of CAR/CRs Appendix B Reference list v3.0 3

1 INTRODUCTION 1.1 Objective JOINT VALIDATION & VERIFICATION REPORT: VCS Version 3 EPIC Sustainability Services Private Limited (hereinafter referred to as EPIC) has been contracted by EKI Energy Services Limited (hereinafter referred to as PP) to undertake the gap validation and first periodic independent verification of the project activity titled Wind Power Project by Rajasthan Gum Private Limited (EKI.CDM.July-11-01) (hereinafter referred to as project activity) The purpose of the validation is to perform an independent, third party assessment of whether the project activity confirms to the qualification criteria set in the VCS standard v3.5 and VCS guideline v3.5to attain real, measurable, additional and permanent emission reduction. The validation statement / opinion is a written assurance that the project complies with all the applicable VCS requirements and has the ability to generate the emission reductions stated over the projects crediting period. To verify that the actual monitoring system and procedures are in full compliance with the system and procedures described in the monitoring plan of validated CDM PDD, version 05 dated 1 st November 2012 (hereinafter referred to as validated PDD) as well as with the applicable methodology; To verify that the data reported were accurate, complete, consistent, transparent and free of material error or omission by checking the monitoring records and the emissions reduction calculation; and To verify and certify GHG emission reduction reported for the project for the period from 24-Sep- 2011 to 31-December-2012 (hereinafter referred to as current monitoring period). 1.2 Scope and Criteria The validation scope includes an independent and objective review of the Project VCS project description (PD), the project s baseline study, monitoring plan and other relevant documents. Specifically, the objectives of the validation work involve: To verify whether the project activity meets the requirements of VCS standard v3.5 /1/ and VCS guideline v3.5 /2//1/ including additionality, proof of title and compliance with local laws. To assess whether the baseline and monitoring plan are in conformance with the methodology applied from the VCS approved GHG program. To certify that the information presented are complete, consistent, transparent and free of material error. v3.0 4

The Project Description was reviewed against VCS standard v3.5 and VCS guideline v3.5and the applied CDM methodology /3/. EPIC has performed the validation based on a risk based approach focusing mainly on the significant risks to meet the qualification criteria and the ability to generate VCUs. The work carried out by EPIC is free from any conflict of interest. The scope of the verification was the independent and objective review and ex-post determination of the monitored reductions in GHG emissions from the project activity. The verification of this CDM project was based on the validated and registered project design documents ((PDD), Validation Report) /5/ and monitoring reports and supporting documents made available to the verification team. These documents were reviewed against the requirements of the VCS standard /1/ version 3.5, VCS guidelines, the CDM Modalities and Procedures, related rules and guidance, and the Validation and Verification standard /4/ Version 9.0. The verification is not meant to provide any consulting towards the client. However, stated request for clarifications and/or corrective actions may provide input for improvement of the project design. 1.3 Level of Assurance In line with VCS standard v3.5 and VCS guideline v3.5requirements and as per ISO 14064-3:2006 Para A.2.3.2, a reasonable level of assurance has been followed for the validation of the project. Based on the desired level of accuracy EPIC has established an internal quality control process and assures that the information given in the PD /10/ is materially correct and is a fair representation of the of the actual project details, and is prepared in accordance with the VCS requirements and the applied CDM methodology for information pertaining to additionality, GHG quantification, monitoring and reporting. The validation report is carried out as per this requirement and details are presented in the validation statement in section 4 below. 1.4 Summary Description of the Project The project activity involves installation of a 10.8 MW wind power project at Karnataka and Rajasthan States in India. A total of 6 Wind Electric Generators (WTGs) comprising 3 of 2,100 kw & 3 of 1,500 kw have been installed and operational from 24/09/2011 which is the date at which the earliest WTG was commissioned. All WTGs are supplied and manufactured by Suzlon Energy Limited. The power generated will be used to supply to the Southern and NEWNE grids and will displace power which his predominantly fossil fuel generated. The expected operational lifetime of the project is for 20 years. The total emission reductions achieved under this monitoring period is 22,744 tco 2. The project activity category is summarized as below: Project Type: I Renewable Energy Projects Project Category: D. Grid connected renewable electricity generation Sectoral Scope: 1 - Energy Industries (renewable - /nonrenewable sources) 2 VALIDATION AND VERIFICATION PROCESS 2.1 Method and Criteria v3.0 5

The EPIC validation and verification process consisted of the following phases: a document review of the project description and preparation of validation and verification protocol; on-site visit to the project activity and interviews with project developer, project consultant relevant stakeholders and O & M operations personnel resolution of outstanding issues and the issuance of final validation report and opinion In order to ensure transparency, a validation and verification protocol was customised for the project according to the VCS standard v3.5 and VCS guideline v3.5. The protocol describes the findings, criteria (requirements), means of verification, results from the validating and how the identified criteria, have been met in a transparent manner. The protocol serves the following purposes: it organizes, details and clarifies the requirements of a VCS project is expected to meet; it ensures a transparent validation process where the validator and verifier will document how a particular requirement has been validated and the result of the validation. The validation protocol consists of Appendix A, where findings established during the validation were classified as non-fulfilment of validation protocol criteria or where risks to the fulfilment of project objectives were identified. Corrective Action Request (CAR) was issued, where: mistakes have been made that directly impact on the project results; or validation protocol requirements have not been met; or there was a risk that the project would not be accepted as a VCS project or that emission reductions will not be certified. The validation team has also raised Clarification (CL), where additional information is needed to fully clarify an issue. APPENDIX : RESOLUTION OF CORRECTIVE ACTION AND CLARIFICATION REQUESTS Draft report clarifications and corrective action requests by validation team Ref. to Section of the PD Summary of project owner response Validation conclusion team If the conclusions from the draft Validation are either a CAR or CL, these should be listed in this section. Reference to the Section of the PD where the relevant CAR or CL is raised. The responses given by the project participants during the communications with the validation team should be summarized in this section. This section should summarise the validation team s responses and final conclusions. v3.0 6

The following team members from EPIC are involved in identifying the following: Name Role Components reviewed Mr. A. Prabu Das Lead Auditor cum Technical expert Completeness check, desk review, onsite inspection, Interview with project representatives, issuance of findings, report preparation Mr. R. Vijayaraghavan Technical Reviewer Technical Issues related to project 2.2 Document Review The first PD version 1.0 and MR version 1.0 submitted by the client and additional backgrounds documents related to the project design and baseline were reviewed as an initial step of the validation and verification process. As a result of review and findings, PP had submitted the revised PD version 02 and revised MR version 02 /9/ A desk review was further done to assess the following parameters: 1. Project details as per VCS PD and MR template 2. Applicability and Appropriateness of methodology used 3. Compliance with relevance laws and regulation 4. Correctness of application of baseline and monitoring methodology 5. Demonstration of additionality 6. Monitoring Plan 7. Stakeholders consultation process 8. Proof of title & Rights of use 9. Supporting documents as described in Appendix B 10. Accuracy and quality of the monitoring and estimation of emission reductions 11. Implementation of the monitoring plan in accordance with registered PDD. 2.3 Interviews After the review of the Project description, MR and documents a site visit was carried out on 14 th April 2015. During the site visit physical inspection of the project components followed by interviews with the on-site personnel was carried out to verify the project details. A follow-up meeting was also conducted with the project representatives. The following persons were interviewed. Name & Designation Company Details of Interview Mr. Satish Sharma Suzlon Infrastructure Services limited Assistant Manager Mr Yogesh Kumar Site incharge Mr Neeraj Mangal Supervisor Ms. Rucha Natu CDM Consulltant Suzlon Infrastructure Services limited EKIESL Project details, Monitoring system, calibration frequency, Grid connectivity & power evacuation system / Infrastructure. Overall Project management. v3.0 7

Applicability to methodology, Monitoring requirements, Emission reduction calculations 2.4 Site Inspections During the site visit, the actual on-site practices adopted and followed for the operation of the project were compared with the description given in the monitoring report. The technical details, cogeneration system, metering practices, calibration and level of accuracy were examined. The archived data of the energy generated was also reviewed. An on-site assessment was conducted as a part of validation and verification activity and involved: 1) an assessment of the implementation and operation of the project activity as per the registered PDD 2) a review of information flows for generating, aggregating and reporting of the monitoring parameters 3) interviews with relevant personnel to confirm that the operational and data collection procedures are implemented in accordance with the Monitoring Plan 4) a cross-check between information provided in the MR and data from other sources 5) a check of the monitoring equipment including calibration performance, and observations of monitoring practices against the requirements of the PDD and the applied methodology 6) A review of calculations and assumptions made in determining the GHG data and ERs, and 7) An identification of QA/QC procedures in place to prevent, or identify and correct, any errors or omissions in the reported monitoring parameters. 2.5 Resolution of Findings Resolution of Clarification and Corrective Action Requests The objective of this phase of the verification was to resolve the corrective action requests and clarifications and any other outstanding issues which needed to be clarified prior to EPIC positive conclusion on the monitoring report and the project design. During the validation and verification process ten CARs were raised. All the CARs and CRs were resolved during this phase. In order to ensure the transparency of the validation process, the concerns raised and responses that were given are summarized in Appendix A of this report and documented in more detail in the Verification in Appendix A. All the corrective actions have been incorporated into the monitoring report. 2.5.1 Forward Action Requests There is no FAR raised during this verification process. 3 VALIDATION FINDINGS 3.1 Project Details v3.0 8

Project identification, design & development and implementation were evaluated as per the requirements of VCS standard v3.5 and VCS guideline v3.5. The project activity involves setting up of a 10.8 MW wind power project in states of Karnataka and Gujarat. The power generated is supplied to the Southern and NEWNE grid respectively. In the baseline scenario, the grid is supplied power by predominantly fossil fuel sources which the supply of power from the project activity displaces. The project applies the baseline and monitoring methodology AMS I.D Grid connected renewable electricity generation version 17. The project falls under sectoral scope no. 1 Energy industries (renewable/non-renewable sources). The following details were verified in accordance with VCS requirements Criteria Project proponent: Rajasthan Gum Private Limited is the project proponent for the project. Other entities involved Right of use: The project proponent is Rajasthan Gum Private Limited and the right of use has been demonstrated accordingly Project scale: The annual emission reductions from the project are expected to be 20,357 tco2e Estimated GHG emission reductions or removals. Justification The same has been confirmed based on the commissioning certificates/7/ as wells as Consent to Operate from the state nodal agency/6/.further the signed PPA agreement was also reviewed./8/ EKI Energy Services Limited (EKIESL) is the other entity involved as verified from the communications agreement between EKIESL and the PP. Based on the review of commissioning certificates and Consent to Operate by the state nodal agency to Rajasthan Gum Private Limited, it is confirmed that Rajasthan Gum Private Limited has successfully demonstrated rights of use as per VCS requirements. The project falls under the category of Project as per VCS requirements as the annual emission reductions from the project is expected to be 20,357 tco2e. Compliance with relevance laws and regulation: The project has received the regulatory clearance in form of Consent to Operate from the State nodal agency and the Consent to Operate is submitted. The document review of the NOC /6/ issued by the state nodal agency confirmed that the project complies with local rules and regulations. The technical specifications of the WTGs were verified with the equipment purchase orders /5/ and cross verified during the on-site visit. These were found to be correct and consistent. The location of the project activity was physically verified during validation site visit. The geographical coordinates of the project activity as mentioned in the PD were crosschecked with globally accessible satellite based imagery data software and found to be consistent. v3.0 9

During the on-site visit, the project supporting documents were verified. The validation team has reviewed the commissioning certificate /6/ and Power Purchase Agreement /7/ and found that electricity generated is supplied to the grid. The validation team has reviewed the commissioning certificates and found commercial operation date to be 24/09/2011which is taken as start date of the project activity. PP has chosen a renewable crediting period of 10 years starting from 24/09/2011 to 23/09/2021. The validation team has accepted this considering the technical life of the WTG is 20 years. In line with the VCS requirements, proof of title of the individual investors was verified with the equipment purchase Orders /5/, Commissioning Certificate /6/ and Power Purchase Agreement /7/. The project so far has not created any other form of environmental credit. But, the project is registered under CDM separately. However, the VCUs revenue will be considered only for the period during which no CDM/CER benefits are claimed. To ensure that the environmental credits generated by the project are not double counted under VCS, an undertaking letter /10/ was provided by PP indicating that the project activity is not claiming credits under other forms of GHG program. The project has not been rejected under other GHG programme. The project meets the general requirements of VCS standard v3.5 and VCS guideline v3.5with respect to Project start date, Project scope and Crediting period according to clause 5.1, 5.2 and 5.3. 3.2 Participation under Other GHG Programs The project was registered under CDM before 2 years from the start date of the project and is eligible for VCS registration. 3.3 Application of Methodology 3.3.1 Title and Reference Sectoral Scope : 01 Energy Industries (renewable-/non renewable) Project Type : Type 1 Renewable Energy Projects Methodology : AMS I. D. Version 17 AMS ID applies the following tool which has been used to calculate the amount of emission factor from the project activity: Tool to calculate the Emission Factor for an Electricity System, Version 02.2.0, Annex 12, EB 61 report. v3.0 10

3.3.2 Applicability JOINT VALIDATION & VERIFICATION REPORT: VCS Version 3 As the project activity is registered under Clean Development Mechanism (Ref.No:7377), the validation of the applicable conditions of the project may be referred in the validation report issued to the UNFCCC on 2 nd November 2012. 3.3.3 Project Boundary Please refer the validation of the applicable conditions of the project may be referred in the validation report issued to the UNFCCC on 2 nd November 2012. 3.3.4 Baseline Scenario Please refer the validation of the applicable conditions of the project may be referred in the validation report issued to the UNFCCC on 2 nd November 2012. 3.3.5 Additionality Please refer the details in the validation report issued to the UNFCCC on 2 nd November 2012. 3.3.6 Quantification of GHG Emission Reductions and Removals Please refer the validation of the applicable conditions of the project may be referred in the validation report issued to the UNFCCC on 2 nd November 2012. 3.3.7 Methodology Deviations There is no methodology deviation involved. v3.0 11

3.3.8 Monitoring Plan JOINT VALIDATION & VERIFICATION REPORT: VCS Version 3 Please refer the validation of the applicable conditions of the project may be referred in the validation report issued to the UNFCCC on 2 nd November 2012. 3.4 Non-Permanence Risk Analysis Not applicable to the non AFOLU project. 3.5 Environmental Impact Please refer the validation of the applicable conditions of the project may be referred in the validation report issued to the UNFCCC on 2nd November 2012. 3.6 Stakeholder Comments Please refer the validation of the applicable conditions of the project may be referred in the validation report validation report issued to the UNFCCC on 2nd November 2012. 4 VERIFICATION FINDINGS 4.1 Accuracy of GHG Emission Reduction and Removal Calculations The verification of all the data ex-ante and data ex-post (monitoring parameters) used for the calculation of baseline emissions, project emissions and leakage emissions are tabulated below. Ex-ante Parameters: Data / Parameter Justification of verification team Operating Margin CO 2 emission factor in year y (t CO 2 /MWh) The applied values have been verified from CO 2 Baseline Database for the Indian Power Sector, Version 6, CEA /13/ (http://www.cea.nic.in/reports/planning/cdm_co 2 /user_guide_ver6.pdf) NEWNE Grid 0.9942 Southern Grid 0.9671 The values have been Calculated as per Tool to calculate the emission factor for an electricity system, Version 02.2.1 EB 63 annex 19 as 3-year generation weighted average using data for the years 2007-08, 2008-09, & 2009-10 which is verified to be correct as per the applicable methodology and procedure as per the registered PDD. v3.0 12

Data / Parameter Justification of verification team Build Margin CO 2 emission factor in year y (t CO 2 /MWh) The applied values have been verified from CO 2 Baseline Database for the Indian Power Sector, Version 6, CEA (http://www.cea.nic.in/reports/planning/cdm_co 2 /user_guide_ver6.pdf) NEWNE Grid 0.8123 Southern Grid 0.7634 Calculated the build margin emission factor ex ante based on Tool to calculate the emission factor for an electricity system, Version 02.2.1 EB 63 annex 19 as the most recent information (2009-10) available on units already built for sample group at the time of CDM-PDD submission to the DOE for validation which is verified to be correct as per the applicable methodology and procedure as per the registered PDD. Data / Parameter Justification of verification team Combined Margin CO 2 emission factor in year y (t CO 2 /MWh) or CO 2 emission factor of the grid in year y (t CO 2 /MWh) The applied values have been calculated to be: NEWNE Grid 0.9487 Southern Grid 0.9162 The combined margin emissions factor is calculated as follows: EFCO2, grid,y = EFgrid, OM, y *WOM + EFgrid, BM, y *WBM Where: EFgrid,BM,y: Build margin CO2 emission factor in year y (tco2/mwh) EF grid, OM, y: Operating margin CO2 emission factor in year y (tco2/mwh) WOM: Weighting of operating margin emissions factor (%) WBM: Weighting of build margin emissions factor (%) In case of wind power generation project WOM = 0.75 and WBM = 0.25. Hence it is verified to be which is verified to be correct as per the applicable methodology and procedure as per the registered PDD Ex-Post Parameters: Data / Parameter Justification of verification team Quantity of net electricity supplied to the grid from the WTGs in year y For NEWNE Grid WTG Sites (Project activity site in Rajasthan) Thus Quantity of net electricity supplied to the grid from the WTGs v3.0 13

in year y is calculated as = Sum of Net Export from all the WTGs Sum of Net Import from all the WTGs. The relevant Break up sheet submitted by SEL (O & M Contractor) on the basis of Joint Meter Reading report /12/ of the complete Wind Farm taken by SEL, RVPN & JVVNL have been reviewed to confirm the electricity generated. For Southern Grid WTG Sites (Project activity site in Karnataka) Thus Quantity of net electricity supplied to the grid from the WTGs in year y is calculated as = Sum of Net Export from all the WTGs Sum of Net Import from all the WTGs. The relevant Credit Report Sheets /12/ were verified to confirm the electricity generated. The electricity generated was further cross verified with the monthly bills / invoices raised for each WTG. The energy meters used are energy meters which are of high accuracy class i.e. (0.2s). The meters are monitored continuously & cumulative readings are taken at the end of the month by joint meter reading procedure. The calibration records of the energy meters have been verified based on the calibration certificates /11/ submitted. Hence it is verified that the monitoring plan has been implemented in accordance with the applicable methodology and procedure as per the registered PDD. The verification team has cross checked the values for each parameter based on the actual data provided in conformance with the requirements of the applicable methodology. Moreover, findings were raised in case data was not provided adequately and only upon review of the submissions the findings have been closed. Hence it is conformed that that there are no manual transposition errors between data sets. The verification team confirms that sampling has not been applied for any parameter in line with the registered monitoring plan. The calibration records as verified from the documents submitted evidenced delay in calibration for which the applicable correction factor was applied. The Verification team concludes that the GHG emission reductions and removals have been quantified correctly in accordance with the monitoring plan and applied methodology. v3.0 14

4.2 Quality of Evidence to Determine GHG Emission Reductions and Removals Evidence used to check and cross check has been described for each parameter in the above section 4.1. Further the review of the registered ER sheet available on CDM website for the project (UNFCC ref: 7377) confirmed that the approach for estimating the emission reductions is based on the approved methodology. The verification of the emission reductions estimated was correctly calculated as verified from the emission reduction excel sheet submitted/14/. The details of the baseline and project emissions and the approach for quantifying them was in line with the requirements of the applicable methodology. Based on the evidence provided the Verification team concludes sufficiency of quantity, and appropriateness of quality, of the evidence used to determine the GHG reductions and removals for the current verification period. 5 VALIDATION AND VERIFICATION CONCLUSION EPIC performed a validation of the proposed VCS project Wind Power Project by Rajasthan Gum Private Limited (EKI.CDM.July-11-01) (UNFCCC Project ID: 7377). The validation was carried out to independently assess whether the project confirms to the qualification criteria and requirements of the Voluntary Carbon Standard (VCS) Version 3.5, including the baseline and monitoring methodology applied. The VCS program provides the standard and framework for independent validation based on ISO 14064-2:2006 and ISO14064-3:2006 standards. The validation was performed using a risk based approach, the review of the project description and the subsequent follow-up interviews provided EPIC with sufficient evidence to determine the fulfillment of the stated criteria. The GHG emission calculations are documented in a complete and transparent manner. The formulae and methodologies for accounting GHG emissions are appropriate and emission factors are deemed to be of sufficient accuracy. The emission reductions forecast has been checked and it is deemed likely that the stated amount is achievable on the basis that the underlying assumptions do not change. The monitoring plan is in line with the approved monitoring methodology of AMS ID Version 17. The plan adequately addresses all necessary information for monitoring and reporting of emissions reductions due to the project activity. Responsibilities and authorities for project management, monitoring and reporting, and the data quality control and quality assurance procedures have been described in the PDD. In summary, it is EPIC opinion that the Wind Power Project by Rajasthan Gum Private Limited (EKI.CDM.July-11-01) (UNFCCC Project ID: 7377) in the the PDD version 05 dated 1 st November 2012, meets all relevant VCS standard v3.5 and VCS guideline v3.5 requirements, is eligible as Large scale renewable energy generation project type and correctly applies the baseline and monitoring methodology specified in AMS ID Version 17. As such, EPIC recommends the registration of the project as a VCS project activity. The verification was carried out in accordance with the requirements of the Validation and Verification standard Version 9.0 and VCS Standard 3.5. As a result of the verification, the verification team confirms that for the reporting period: all operations of the project were implemented as described in the registered PDD, (project ID 7377), v3.0 15

the monitoring plan is in accordance with the approved monitoring methodology applied by the project activity. the monitoring has been carried out in accordance with the validated PDD version 05 dated 1 st November 2012. the monitoring aspects (i.e. additional monitoring parameters, monitoring frequency and calibration frequency) were in place and functional, with the installed equipment essential for generating emission reduction operating appropriately and the calibration of all the equipment had been carried out accordingly, and the GHG emission reductions achieved were calculated correctly on the basis of approved monitoring methodology. EPIC has verified that the information included in the final monitoring report (version 2.0, dated 22 nd July 2016 was correct and that the emission reductions achieved had been determined correctly. In our opinion, the GHG emission reductions for the monitoring period stated in the latest revised monitoring report for the project are fairly stated The verifier confirms that the GHG emission reductions were calculated without material misstatements for the whole monitoring period. Our opinion is based on the project s GHG emissions and resulting GHG emission reductions reported, and, to the valid and registered project baseline and monitoring documents. We confirm the following: Verification period: From [24th September 2011] to [31st December 2012] Verified GHG emission reductions and removals in the above verification period: Year Baseline emissions or removals (tco 2 e) Project emissions or removals (tco 2 e) Leakage emissions (tco 2 e) Net GHG emission reductions or removals (tco 2 e) Year 2011 1,949 0 0 1,949 Year 2012 20,795 0 0 20,795 Total 22,744 0 0 22,744 Prepared by Approved by : Mr. A. Prabu Das (Lead Auditor) Mr. K. Sudheendra (Head Operations) v3.0 16

APPENDIX A : RESOLUTION OF CORRECTIVE ACTION AND CLARIFICATION REQUESTS Draft report clarifications and corrective action requests by validation team CAR 01 For sections unfilled under the PD template, Not applicable to be indicated as per VCS requirements. Summary of project owner response In line to the, VCS Standard version 03, section 3.11.10 sub point 1, all the relevant sections of the revised PD is been updated. DOE is requested to kindly refer the same. Validation and Verification team conclusion The corrected PD is accepted to meet requirements of the VCS PD template Conclusion CAR 01 Resolved CAR 02 Under section 1.11 of the VCS PD, to indicate details of consent to operate (NOC) as per regulations of respective states. CAR 03 Clarify on the observation that the CDM PDD indicated 0.5s accuracy class while site visit and implementation indicated 0.2 s for the energy meters and justify whether this correction is categorised as a project deviation under VCS requirements. VCS PD is section 1.11 is been revised to indicate the details of consent and approvals awarded to WTGs involved in the project activity as per regulations of the respective states. As per the onsite visit, accuracy class of energy meters is denoted as 0.2s throughout the revised MR. The same has now been referred as a project deviation under the section, 2.2.1 of the revised MR. This deviation, however is not effecting, the GHG emissions as determined during the current monitoring period. The corrected PD and the documents submitted have been verified to fulfil the requirements. Conclusion CAR 02 Resolved The project deviation as included in the revised in the PDD is included for updating the accuracy of information and as such does not impact on the project design or materiality. Conclusion CAR 03 Resolved CAR 04 Supporting documents for the net electricity generation is not provided for assessment as applicable to the monitoring period under verification. CAR 05 Calibration records for all meters pertaining to this monitoring period to be indicated in annex of the MR. further supporting documents have not been submitted. Supporting documents for the net electricity generation is to DOE for assessment. Calibration records for all meters pertaining to this monitoring period is indicated in annex 1 of the MR. Supporting documents have been submitted. The documents pertaining to the net electricity generated have been verified. Conclusion CAR 04 Resolved Calibration records for the energy meters have been submitted and have been verified. For the delay as noted in some instances the appropriate correction factor is applied. Conclusion CAR 05 Resolved v3.0 17

Draft report clarifications and corrective action requests by validation team CAR 06 Provide information to verify whether the project has not applied under any other eligible national schemes for generating incentives / revenues? CL 01 Clarify the inconsistency under section 2.1 of the VCS MR in description of project WTGs as 27 as only 6 WTGS are in this Project activity. CL 02 Clarify on the inconsistency of OM values with registered PDD which indicates different values under section 3.1 of the MR CL 03 Clarify if the WTGs for the applicable monitoring period continue to sell electricity to the grid as per description in the registered CDM PDD. CL 04: Clarify whether EKIESL is eligible for inclusion as PP as per VCS requirements. Summary of project owner response GBI and REC are the two incentive scheme for the renewable energy industry in India, GBI is applicable where in accelerated depreciation is not been claimed by the PP and REC is applicable wherein PP avoid preferential tariff. The said project activity is availing accelerated depreciation benefit and is having PPA signed with SEB at preferential tariff. Hence the project activity under consideration is not eligible under any national schemes for generating incentives / revenues. Consistency is now maintained throughout VCS MR. Consistency is now maintained throughout VCS MR. PP hereby confirms that the WTG for the applicable monitoring period continues to sell the grid as per description on the registered CDM PDD. The contracted PPA s and Invoices raised to the state utility board can be referred for the same. Based on VCS requirements, Now EKIESL is included as other entity while Rajasthan Gum Private Limited is indicated as the PP Validation and Verification team conclusion The project is not under any other national schemes for generating additional revenue as verified from the PPA and information in PDD. Conclusion CAR 06 Resolved The revised PD mentions the information consistently. Conclusion CL 01 Resolved The revised PD mentions the information consistently. Conclusion CL 02 Resolved The PPA and invoices raised indicate that the project is implemented on the model of selling electricity. Conclusion CL 03 Resolved The revised PD and MR (version 02) now indicated Rajasthan Gum Private Limited which is as per VCS requirements. Conclusion CL 04 Resolved v3.0 18

APPENDIX B: REFERENCE LIST Reference Details of supporting documents 1 VCS Standard Version 3.5 2 VCS program guide 3.5 3 CDM methodology AMS I.D version 17 4 CDM Validation Verification Standard V 9.0 5 CDM PDD dated 1 st November 2012 & Validation report dated 2 nd November 2012 6 Consent to operate certificate issued by Rajasthan and Karnataka electricity boards 7 Certificate of commissioning of all the WTGs 8 Power Purchase/Supply Agreement with respective State Electricity Board for all WTGs 9 VCS PD version 02 dated 22 nd July 2016 & MR version 02 dated 22 nd July 2016 10 Letters of undertaking submitted by Rajasthan Gum Private Limited 11 Calibration certificates for energy and electricity meters 12 Monthly electricity bills / JMR Reports / Credit reports of all WTGs 13 CEA Database version 06 14 Emission reduction calculation excel sheet v3.0 19