The Korean New and Renewable Energy Center (KNREC), under the South Korean Ministry of Trade, Industry and Energy, has launched a tender seeking 2.05 GW solar PV capacity to be selected for fixed price contracts.

There are 5 project categories, installations less than 100 kW, 100 kW to 500 kW, between 500 kW to 1 MW, 1 MW to 20 MW, and 20 MW or more.

Power generated from the facilities will be supplied by KNREC to local electricity utilities, whose quota is fixed as follows:

  1. Korea Hydro & Nuclear Power Co., Ltd. 500 MW
  2. Korea South-East Power Co., Ltd. 300 MW
  3. Korea Midland Power Co., Ltd. 300 MW
  4. Korea Western Power Co., Ltd. 300 MW
  5. Korea Southern Power Co., Ltd. 300 MW
  6. Korea East-West Power Co., Ltd. 300 MW
  7. Korea District Heating Corporation  30 MW
  8. Korea Water Resources Corporation  20 MW

The agency will be announcing winners on July 16, 2021. Details of the tender and relevant documents can be viewed on KNREC’s website.

Till the end of 2020, South Korea’s total installed renewable energy capacity was over 19.6 GW according to the International Renewable Energy Agency (IRENA), to which solar PV’s total contribution was more than 14.57 GW.

According to local media reports, the country aims to have 40.3% of its total electricity by 2034 to come from renewable energy under the 9th Basic Plan for Electricity Supply and Demand for 2020-2034 (see South Korea Clears Way For Renewable Energy PPAs).

The country is already working on a 2.1 GW floating solar power plant for Saemangeum lake, and in March 2021, Enerdata reported the Ministry of Environment will further expand South Korea’s floating solar power capacity by another 2.1 GW (see South Korea Wants 2.1 GW More Floating Solar).