South Korea’s Ministry of Trade, Industry, and Energy (MOTIE) has launched tenders for 1 GW of solar and 1.25 GW of offshore wind projects. The ministry will open a solicitation for fixed-bottom offshore wind projects by June. After that, it will determine the quotas for floating offshore wind and onshore wind capacity.
Out of the total 1.25 GW on offer, approximately 500 MW will be reserved for public-led offshore wind bidding. The remaining 750 MW will be for the general bidding market. The capacity of the proposed bidding round aligns with South Korea’s offshore wind power competitive bidding roadmap, announced in August 2024. It is also consistent with the public-led offshore wind bidding plan introduced in March 2025.
Furthermore, South Korea is announcing a tender for project allocations of up to 1 GW of solar photovoltaic capacity. The ceiling prices for this round will be capped at $113.6 per MWh. The ministry plans to connect solar and wind companies that enter into fixed contracts under this tender with RE100 demand companies to ink power purchase agreements.
REGlobal’s Views: South Korea has introduced various policy interventions to encourage rapid build out of renewable energy projects including tax breaks and free economic zones. To encourage greater renewable energy procurement in the country, it also plans to encourage energy intensive commercial consumers in the country to offtake power from solar and wind power generators companies.
