Ministry of Climate and Energy Announces Second Half Onshore Wind Power Bidding... Offshore Wind "Under Consultation"
The Ministry of Climate and Energy has announced a fixed-price competitive bidding for wind power facilities in the second half of this year, targeting only onshore wind power. The ministry stated that for offshore wind power, "consultations are underway with the relevant authorities." It is understood that the Ministry of National Defense has not yet completed its military operational review for the anticipated project sites.
On the 17th, the Ministry of Climate and Energy announced at the Korea Energy Agency's New and Renewable Energy Center that it would open a competitive bidding process for fixed-price contracts for wind power facilities in the second half of 2025. The fixed-price contract competitive bidding system allows renewable energy operators, such as wind power companies, to sell the electricity they generate at a fixed price for 20 years.
This wind power bidding announcement targets onshore wind power, with a total bidding volume of approximately 230MW. The ministry explained, "For offshore wind power, we are conducting consultations with the relevant permitting authorities regarding projects expected to participate, in order to resolve uncertainties related to permits and approvals. Once these consultations are completed, bidding for offshore wind power will also take place."
According to the wind power industry, the ministry is conducting military operational reviews with the Ministry of National Defense for the anticipated project sites wishing to participate in the bidding. This is to prevent situations where a project is selected through bidding but encounters issues during the Ministry of National Defense's military operational review. If the review is not completed within this year, the offshore wind power bidding may be postponed to next year.
The Korea Energy Agency will accept applications for participation in the bidding for a 30-day period (based on business days) from November 17 to December 29. The final results are scheduled to be announced around February 2026.
The competitive bidding evaluation consists of two stages: the first stage is a non-price evaluation of industrial and economic effects, and the second stage is a quantitative evaluation of the bid price.
The ministry explained that the price ceiling was set at 163,846 won per MWh, taking into account changes in the international market's levelized cost of electricity (LCOE), previous onshore wind bidding prices, and the downward trend of the price ceiling.
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
For detailed bidding information, please refer to the announcement posted on the Korea Energy Agency's New and Renewable Energy Center website.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
