Floating Offshore and Onshore Wind Power Bidding to Be Announced in the Second Half of the Year
Jeonnam Yeonggwang Yaksu Offshore Wind Power. The Yaksu Offshore Wind Power has a capacity of 4.3MW and is a pilot project implemented by Jeonnam Development Corporation, the first local public enterprise to do so, located 2.5 km offshore near Baeksu-eup, Yeonggwang County. Photo by Kang Jinhyung
The government will, for the first time, include a "security index" that reflects supply chain and security factors as an evaluation criterion in the competitive bidding process for fixed-price wind power contracts. In addition, a new public-led bidding category will be established, specifically for offshore wind power projects led by state-owned power generation companies and other public entities.
According to the Ministry of Trade, Industry and Energy, the Korea Energy Agency’s New and Renewable Energy Center announced on May 26 the "2025 First Half Fixed-Price Contract Competitive Bidding for Wind and Solar Power Facilities," which includes these measures.
The announced volume for wind power competitive bidding in the first half of this year is approximately 1,250 MW, targeting only fixed offshore wind power. The newly established public-led bidding market accounts for 500 MW, while the general bidding market accounts for 750 MW. Floating offshore wind power and onshore wind power, which were part of last year’s process, will be announced in the second half of the year. The bidding capacity for floating offshore wind power and onshore wind power will be determined based on the remaining volumes in the bidding roadmap and the level of bidding demand.
From this bidding round, the evaluation criteria for selecting operators will introduce a new security index (8 points for public-led, 6 points for general), placing emphasis on security factors in both power generation facilities and the energy supply process.
The ceiling price (system marginal price + 1 Renewable Energy Certificate) is maintained at 176,565 won per megawatt-hour (MWh), the same as last year, taking into account global trends in Levelized Cost of Energy (LCOE) and international cases. However, a preferential price will be granted for public-led projects, and an additional preferential price will be provided if government R&D demonstration wind power system results are utilized.
For solar power competitive bidding, the selection volume will be up to 1,000 MW. The ceiling price has been set at 155,742 won/MWh, which is lower than last year’s 157,307 won/MWh, reflecting recent bidding competition rates, the price gap with the Renewable Energy Certificate (REC) spot market, and global LCOE trends.
Additionally, the Ministry will continue to operate the power purchase agreement (PPA) brokerage market, which was piloted last year, in consideration of the recent renewable energy purchasing demand from RE100 (100% renewable energy use) companies. Through this, power plants selected in this competitive bidding will be matched with RE100 demand companies. For this year’s PPA brokerage market, the contract period can be flexibly chosen up to 20 years, and the agreement deadline has been extended to allow sufficient contract negotiations, reflecting institutional flexibility.
For more detailed information on this year’s bidding, refer to the announcement posted on the Korea Energy Agency’s New and Renewable Energy Center website.
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