Government Announces 2.25GW Competitive Bidding for Wind and Solar Power
The government has announced competitive bidding for wind power plants with a capacity of 1.25GW and solar power plants with a capacity of 1GW in the first half of this year.
The capacity of the proposed bidding round is in line with South Korea's Offshore Wind Power Competitive Bidding Roadmap, unveiled in August 2024, and its Public-led Offshore Wind Bidding Plan released in March 2025. In addition to offshore wind, the Asian nation will offer for tender up to 1 GW of solar photovoltaic (PV) capacity.
South Korea has awarded 689 MW of offshore wind projects in the competitive tender for fixed-bottom offshore wind organised in the first half of 2025, the Ministry of Trade, Industry and Energy (MOTIE) and the Korea Energy Agency (KEA) said on 1 September.
The ceiling price has been set at KRW 176,565 (USD 128.6/EUR 113.3) per MWh, the same as in last year's auction. The capacity of the proposed bidding round is in line with South Korea's Offshore Wind Power Competitive Bidding Roadmap, unveiled in August 2024, and its Public-led Offshore Wind Bidding Plan released in March 2025.
In light of these developments, South Korea's offshore wind sector is poised for exciting growth, fuelled by a strong commitment to renewable energy. The government is enhancing regulatory frameworks to streamline project approvals and attract investment, aiming to significantly increase offshore wind capacity by 2030.
PDF version includes complete article with source references.
Get technical specifications, application guides, and ROI analysis tools for containerized power stations, portable photovoltaic containers, and microgrid energy storage solutions.
18 Industrial Park Road, Midrand
Johannesburg, South Africa 1685
Sales & General: +27 11 568 3400
Technical Support: +27 82 459 7781
Monday - Friday: 8:00 AM - 6:00 PM SAST
Saturday: 8:00 AM - 2:00 PM SAST