Written by: Nazire Nur Gür

The ACM0002 (Grid-connected electricity generation from renewable sources) methodology, widely used in renewable energy projects under Verra, has been updated and replaced by VMR0017. This change represents not only a methodological revision for renewable energy projects, but also a significant transformation in terms of project eligibility, additionality assessment, and registration processes.

As of January 01, 2027, the ACM0002 and AMS-I.D methodologies can no longer be used for new project registrations and credit period renewal processes. After this date, all new projects and credit period renewals will be assessed under VMR0017.

According to the updated eligibility framework, hydroelectric power (HEP) projects are deemed eligible only within the scope of Least Developed Countries (LDCs). Since Turkey is not listed among LDCs, all hydroelectric projects located in Turkey are ineligible for new registration or credit period renewal under VMR0017.

Already registered projects will be able to continue auditing and credit generation under their current methodologies until the end of their current credit periods. However, transitioning to VMR0017 will become mandatory during the credit period renewal stage. Hydroelectric projects in Turkey will not be able to continue their credit period renewal processes as they are not included in the new methodology.

Additionally, projects can undergo a methodology change even within their current credit periods. This transition can be carried out through two different mechanisms:

• Project Description Deviation (PD Deviation): Allows alignment with VMR0017 in upcoming monitoring periods.

• Methodology Change and Requantification Procedure: Achieves methodology alignment for both past and future periods, and allows for the recalculation of emission reductions from past verification periods. Through this path, existing projects can apply to transition to the new methodology without waiting for the end of their crediting periods and, if found eligible, can become CCP-compliant. However, in this process, projects must meet the updated rules of the new methodology. Furthermore, due to more conservative emission factors, it may be necessary to surrender some of the existing credits.

Key Changes Introduced by VMR0017

VMR0017 introduces significant structural changes in the project assessment approach:

• The calculation tools used alongside the methodology have been updated.

• Wind, solar, and geothermal projects have become eligible in low, lower-middle, and upper-middle income countries, including Turkey.

• Storage (BESS) integrated projects are accepted only if they meet the conditions of the same site, common grid connection, and the same project owner.

• An additionality assessment has become mandatory for all projects. Automatic eligibility approaches such as positive list and first-of-its-kind are no longer applied.

CCP Eligibility and Financial Criteria

VMR0017 has been approved as CCP-Approved by the Integrity Council for the Voluntary Carbon Market. Furthermore, under CCP, financial eligibility criteria have also become more critical.

Particularly for projects to which VT0008 v1.0 Benchmark Analysis is applied:

• Carbon credit revenues must significantly improve the economic performance of the project,

• These revenues must elevate the relevant financial indicator to or above the benchmark level

These are among the critical assessment criteria for CCP eligibility.

Registration Periods for New Projects

For new wind and solar projects that have become eligible in non-LDC countries (including Turkey) by being expanded in scope under VMR0017, the initial registration request:

• Can be submitted within 4 years from the start of the first credit period, or

• By April 23, 2028, at the latest.

Standard timelines apply to all other projects:

• Listing the project within 1 year from the start of the credit period

• Registration application within 2 years

Conclusion

With VMR0017, a tighter, more standardized, and more detailed assessment period begins for renewable energy projects in the voluntary carbon market.

In particular, changes in the additionality approach, country-based eligibility criteria, and CCP financial assessment conditions require a much more comprehensive analysis to be conducted during the project development, registration, and credit generation processes.

Therefore, for project developers, evaluating the compliance process with VMR0017 at an early stage is of critical importance.