Wind Energy – South Korea
On Friday, November 22nd, South Korea’s offshore wind tender window for 2024 officially closed.
This year’s tender saw seven project submissions totaling 2.4 GW, significantly exceeding the initial allocation of 1.5 GW. The results highlight strong momentum for fixed-bottom projects but reveal challenges in the floating offshore wind category.
Fixed-Bottom:
Six projects totaling 1.668 GW:
– Anma Offshore Wind Farm: 532 MW
– Taean Offshore Wind Farm: 504 MW
– Yeonggwang Hanbit Offshore Wind Farm: 340 MW
– Handong-Pyeongdae Offshore Wind Farm: 105 MW
– Yeonggwang Yawol Offshore Wind Farm: 104 MW
– Aphae Offshore Wind Farm: 83.85 MW
Floating:
The sole submission was the 750 MW Firefly project by Equinor. This highlights the complexities and uncertainties still facing floating offshore wind development in South Korea.
The official results are expected to be announced mid to late December this year, as South Korea progresses on its Offshore Wind Power Competitive Bidding Roadmap.
This roadmap aims to auction 7–8 GW of offshore wind capacity by 2026, supporting the nation’s ambitious goal of 18.3 GW by 2030.
While fixed-bottom projects continue to generate strong interest, the limited participation in the floating wind category calls for reflection on how to support this emerging segment of the industry better.
Floating wind has immense potential in South Korea, but realizing it will require concerted efforts to address the technical, regulatory, and commercial challenges.
Thanks to Johan Hejlskov Jensen, Assistant Attorney, Renewable Energy, Seoul.
