South Korea has launched a tender for 1250MW of offshore wind capacity and 1GW of solar capacity.
The long-expected tender will keep the same 176,565 KRW/MWh (approximately €113) ceiling price bid as last year’s round.
Advertisement
The Ministry of Trade, Industry, and Energy said that the offering will be focused on fixed bottom projects, with 500MW allocated for public-led bidding for the first time.
Competitive bidding will be held twice a year going forward, the ministry said.
The solar capacity tender will use a ceiling price bid of 155,742 KRW/MWh, down slightly from last year’s rate of 157,307KRW/MWh (approximately €100 and €101, respectively).
Last year South Korea awarded 1.9GW of offshore wind capacity across four projects.