The offshore wind tender retains the same ceiling price bid as the previous year, set at 176,565 KRW per megawatt-hour (approximately €113). For the first time, 500 megawatts of this capacity is designated for public-led bidding, focusing on fixed-bottom projects to encourage wider participation and efficient development.
The solar tender sets a ceiling price of 155,742 KRW per megawatt-hour, slightly reduced from last year’s 157,307 KRW per megawatt-hour (approximately €100 and €101, respectively). This adjustment aims to balance affordability with the growth of solar energy infrastructure.
The Ministry of Trade, Industry, and Energy plans to conduct competitive bidding twice a year to ensure steady progress in renewable energy projects. “This tender demonstrates our dedication to promoting sustainable energy solutions and fostering collaboration within the industry,” said a ministry spokesperson.
Last year, South Korea allocated 1,900 megawatts of offshore wind capacity across four projects, reflecting its commitment to renewable energy expansion. The current tender builds on this foundation, aiming to diversify the energy mix and reduce dependence on non-renewable sources.
The initiative is expected to draw significant interest from both domestic and international stakeholders, supporting South Korea’s goals of enhancing energy security and advancing eco-friendly technologies. By prioritizing fixed-bottom offshore wind projects and maintaining competitive bidding, the country seeks to improve project efficiency and scalability.
This tender highlights South Korea’s proactive stance on renewable energy, aligning with global efforts toward cleaner power sources. The Ministry of Trade, Industry, and Energy anticipates that these projects will play a key role in the nation’s sustainable energy transition.
