South Korea Launches Tender for 1.5GW Offshore Wind Projects

South Korea’s Ministry of Trade, Industry, and Energy has initiated a tender process for renewable energy projects, with 1.5GW of offshore wind capacity available for bidding.

The overall tender aims to secure 2.8GW of renewable energy capacity. Wind energy has been allocated 1.8GW, divided into 300MW for onshore and 1.5GW for offshore projects. The remaining 1GW of capacity is designated for solar power.

Within the 1.5GW of offshore wind capacity, approximately 1GW is set aside for bottom-fixed wind projects, while 500MW is allocated to floating wind projects. This marks the first time South Korea has included floating wind technology in a tender process.

South Korean authorities previously announced plans to auction 7-8GW of offshore wind capacity between 2024 and the first half of 2026, with this tender being the initial step toward that goal.

The evaluation will occur in two stages, with the first assessing non-price criteria and the second focusing on project pricing.