[Exclusive] 10-Year Wind Power Bidding Roadmap to Be Announced

To Be Included in the Comprehensive Wind Power Plan by Year-End
Will Help Reduce Uncertainty for Supply Chain Companies
Infrastructure Plans Such as Back-Up Ports Also Expected to Be Announced

Ten 10MW-class wind turbines are installed at the Jeonnam Offshore Wind Power Phase 1 Complex, located in the public waters northwest of Jaeundo Island, Sinan County, Jeollanam-do. SK Innovation E&S

The government is planning to establish a wind power bidding roadmap extending up to 2035, which is expected to significantly reduce uncertainty for companies in the wind power supply chain.

On October 27, a senior official from the Ministry of Climate, Energy and Environment stated, "We are considering preparing a long-term roadmap extending at least to 2030, and possibly to 2035, to resolve policy uncertainty," adding, "This will be included in the comprehensive wind power industry development plan to be announced at the end of this year."

Until now, companies in the wind power supply chain-such as those producing turbines, towers, and substructures-have emphasized the need for a concrete government bidding plan to reduce business uncertainty and establish long-term investment strategies. If companies invest based solely on vague government announcements and the policies are later canceled, they could incur substantial losses. In particular, developing large turbines with capacities of 15 to 20 megawatts (MW), which are necessary to compete with foreign-made turbines, requires long-term investment plans spanning several years.

To date, the only official bidding plan announced by the government is the "Offshore Wind Power Competitive Bidding Roadmap" released by the Ministry of Trade, Industry and Energy (currently the Ministry of Industry and Trade) in August last year. This plan only extends until the first half of 2026. At the time, the government announced that it would conduct three to four rounds of bidding by the first half of next year to expand facilities by 7 to 8 gigawatts (GW).

However, companies in the sector explain that this is insufficient for establishing long-term investment plans. The plan also omits details regarding onshore wind power bidding. Supply chain companies have consistently called for a bidding roadmap that extends at least until 2030.

The new bidding roadmap to be announced by the government is expected to include not only offshore wind power but also onshore wind power. It is also likely to contain measures to expand public-led projects, which were newly introduced in the first half of this year. The government is considering expanding public-led bidding-previously limited to fixed offshore wind power-to onshore wind power and floating offshore wind power projects as well.

The comprehensive wind power development plan will also include measures to strengthen wind power infrastructure and financial support. In terms of infrastructure, it is expected to contain plans to increase the number of dedicated offshore wind installation ports (back-up ports) and specialized installation vessels.

Dedicated offshore wind installation ports refer to specially developed support ports for assembling, storing, and transporting large components of offshore wind power such as turbines, blades, towers, and substructures. Unlike onshore wind power, offshore wind power is difficult to assemble on site, so components are assembled at back-up ports and then transported by specialized vessels for installation.

Currently, Mokpo New Port is the only offshore wind installation port in the country. The Ministry of Climate, Energy and Environment is discussing with the Ministry of Oceans and Fisheries the possibility of additionally developing Incheon, Gunsan, Boryeong, Haenam, and Ulsan as dedicated offshore wind ports.

Offshore wind installation vessels are specialized ships required to install the assembled components at the project site. At present, the "Hyundai Frontier," built by Hyundai Steel Industries, and the "Hansan 1" (previously named Suni 1600), acquired from China by Myungwoon Industrial Development, are being deployed on site.

As the number of offshore wind projects increases in the future, there are concerns about a shortage of installation vessels. European installation vessels are expensive to charter, while Chinese vessels are relatively cheaper but raise security concerns. In response, Hanwha Ocean is building additional dedicated offshore wind installation vessels, and Korea Electric Power Corporation is also considering constructing such vessels.