South Korea has launched a 2.8 GW tender for solar, onshore and offshore wind energy
Solar tariffs for this round are slightly lowered with incentives for using low-carbon footprint modules
Winning projects will secure PPAs with RE100 companies boosting private sector renewable energy adoption
The South Korean Ministry of Trade, Industry and Energy (MOTIE) is inviting proposals for a 1 GW solar energy tender launched alongside the call for 1.25 GW of wind power and 500 MW offshore wind power tender.
The ministry has set the tariff cap at KRW 155.742 ($113.70)/MWh for solar energy tender, a decrease compared to KRW 157.307/MWh set last year. It attributes the reduction to the recent bidding competition rates, and price gaps in the spot market and global levelized cost of electricity (LCOE) trends.
According to the tender terms, there is a minimum preferential price for solar modules produced with a lower carbon footprint. For this tender, it has fixed the minimum requirement to 655 kg CO2/kW, down from 670 kg CO2/kW last year (see South Korea Launches 2.8 GW Renewable Energy Tender).
Power purchase agreements (PPA) will be signed by selected solar and wind energy companies with RE100 demand companies.
The ministry launched the 1 GW solar energy tender on May 26, 2025, without specifying the last date of submission.