Korea opens hydrogen power bidding market for 2025

Power generation must begin by 2029.

Korea’s Ministry of Trade, Industry and Energy has launched this year’s bidding market for clean hydrogen power and general hydrogen power.

In a statement, the ministry said the bidding volume for clean hydrogen is 3,000 gigawatt-hours (GWh), with a contract period of 15 years. This is equivalent to the annual electricity consumption of approximately 850,000 households. 

Power generation must begin by 2029 after a three-year preparation period. Final bidders will be selected around November

This year’s clean hydrogen power bidding market will introduce two new mechanisms that have been consistently requested by the industry: an exchange rate-linked settlement system and a hydrogen volume borrowing system.

Meanwhile, the general hydrogen power bidding market will offer 1,300 GWh in bidding volume, with a 20-year contract period. Power generation must begin by 2027 after a two-year preparation period. 

Final bidders will be selected around August.