- South Korea will auction 2.25 GW of renewable capacity in June 2025, including 1.25 GW of offshore wind and 1 GW of solar.
- New criteria introduced: price ceilings, stability scoring, and carbon footprint bonuses for solar modules.
- The government targets 40 GW by 2030, with future tenders for floating and onshore wind under consideration.
South Korea has launched two renewable energy tenders totalling 2.25 gigawatts (GW) to strengthen energy security and attract global investors. The auctions, set for June 2025, will include 1.25 GW for offshore wind and 1 GW for solar photovoltaic (PV) projects.
The government aims to diversify the country’s energy mix through these tenders. South Korea targets 40 GW of renewable energy capacity by 2030, which is expected to produce around 134 terawatt-hours (TWh) of electricity annually.
The government allocated 500 megawatts (MW) for offshore wind to public-sector projects and 750 MW to private developers. It set a price ceiling of 176,565 South Korean won per megawatt-hour (KRW/MWh), or about 128 U.S. dollars.
To ensure reliability, the government introduced a “security index.” Based on stability, public projects can gain up to eight bonus points, while private projects can earn up to six points. These changes aim to reward projects with stronger technical resilience.
South Korea also plans to facilitate Power Purchase Agreements (PPAs) between developers and RE100-affiliated companies. These PPAs will help developers secure stable revenues and improve project bankability.
For solar PV, the government offered 1 GW of capacity with a price ceiling of 155,742 KRW/MWh, or roughly 113.6 U.S. dollars. This figure reflects a slight drop from the previous year, signalling falling costs in the solar sector.
The government added an environmental scoring component to this year’s solar auction. Developers using PV modules with a carbon footprint below 655 kilograms of CO₂ per kilowatt (kg CO₂/kW) can qualify for a tariff bonus. While this rewards low-emission technology, the government prioritises economic competitiveness in project selection.
Last year, the government awarded nearly 2 GW in offshore wind and 1 GW in solar. It now seeks to build on that momentum.
South Korea continues to pursue its offshore wind target of 18.3 GW by 2030. The upcoming tenders represent a key milestone in that effort. By combining transparent pricing, technical scoring, and PPA options, the government hopes to attract serious developers and investors.
Officials may launch additional tenders for floating and onshore wind in late 2025. They will base that decision on market demand and the results of the June auctions.
With these tenders, South Korea reinforces its commitment to clean energy growth and positions itself as a regional hub for renewable investment.