South Korea’s Ministry of Trade, Industry and Energy has awarded 1,886MW of offshore wind capacity across four projects in the country’s latest offshore wind capacity auction.
The government has awarded 20-year fixed tariff power purchase agreements to the four developers.
Selected projects include the 750MW Firefly/Bandibuli floater from Equinor, Vena Enery’s 500MW Taean, Jeonnam’s 532MW Anma, Daehan Green Power’s 104MW Yeonggwang Yawol.
Anma is split across two projects, the 224MW Anma, and the 308MW Anma 2.
Equinor’s Firefly/Bandibuli is the largest floating project outside of Europe with a route to market.
Projects on the outside looking in include Jeju Energy’s 105MW Handong-Pyeongdae, and Woori Technology’s
83.9MW Aphae plan.
The auction’s ceiling price was set at €119.61 per megawatt-hour.
The awarded capacity exceeded the 1GW target set by the government.