South Korea opens bidding for 1.8 GW of wind power

Deadline is on 22 November 2024.

South Korea has launched tenders for nearly two gigawatts (GW) of wind projects.

Broken down, 1 GW has been set aside for fixed bottom offshore, 500 megawatts (MW) for floating offshore, and 300 MW for onshore wind.

Deadline for a project depends on its division and capacity. For instance, offshore projects over 300 MW have an implementation period of 78 months.

Earlier, the country’s Ministry of Trade, Industry, and Energy announced the Offshore Wind Power Competitive Bidding Roadmap that aims to strengthen the country’s efforts in expanding renewable energy distribution and strengthening the supply chain.

Under the roadmap, competitive bidding for wind power projects will move up from its initial window in the fourth quarter (Q4) to the second quarter of each year, and the notice of an additional tender will be released in Q4 if needed.

Korea will launch approximately 7–8 GW worth of offshore wind power tenders from the second half of 2024 to the first half of 2026.