Image: Daniel Bernard, Unsplash
The South Korean MOTIE has opened a tender for 1 GW of solar energy. The ministry has released the publication details of the tender procedure, with a ceiling price of KRW 157,307/MWh for proposed solar projects.
The ministry said this is an increase from last year’s limit, taking into account recent bid rates.
“To promote the use of low-carbon solar modules that emit less carbon during the production process, a preferential price was introduced for the first time, allowing the cost difference per product to be reflected in the contract price,” the ministry said. in statement.
The government also plans to procure 1.8 GW of wind energy, consisting of 300 MW of onshore capacity and 1.5 GW of offshore projects. An upper price limit was set at KRW 165,143/MWh for onshore wind and KRW 176,565/MWh for offshore wind.
The ministry said it plans to connect solar and wind energy companies that enter into firm contracts under this tender with RE100 demand companies to sign power purchase agreements.
According to the Korea Energy Agency, South Korea installed 1.2 GW of solar energy in the first half of 2024.
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