General – Tenders
South Korea’s Ministry of Trade, Industry and Energy (MOTIE) has announced wind and solar energy tenders for 1.8 GW and 1 GW of capacity, respectively.
The wind competitive bidding will seek to select 300 MW of onshore projects and 1,500 MW of offshore schemes, split between 1 GW of fixed-bottom capacity and 500 MW of floating wind, a category introduced in this year’s tender, the ministry said last Friday.
The volume is in line with the Offshore Wind Power Competitive Bidding Roadmap, unveiled in August. As per the roadmap, a two-stage evaluation process will be implemented to strengthen the non-price evaluation criteria.
Given global trends in energy costs, the ceiling price for onshore wind is adjusted down to KRW 165,143 (USD 119/EUR 110) per MWh, while the ceiling price for offshore wind is increased to KRW 176,565 per MWh compared to last year’s auction.
The price cap for solar is set at KRW 157,307 per MWh. This round will also introduce a preferential price for low-carbon solar modules.
The ministry also announced a pilot project to kickstart the private power purchase agreement (PPA) brokerage market.
The initiative will provide matching opportunities for RE100 demand companies and projects selected in the solar and onshore wind competitive bidding.
This year’s pilot project will focus on power plants of at least 1 MW and 36 domestic companies that have joined the RE100 campaign.
