South Korea has launched tenders for 1GW of fixed bottom offshore wind, 500MW of floating offshore wind, and 300MW of onshore wind. The deadline for bids is 22 November 2024.
In addition to the reserved capacity for 1GW of fixed bottom offshore wind and 500MW of floating wind, the government has outlined a 78-month timeline for projects over 300MW from the date of contract signing. For floating projects, the auction guidelines also provide the possibility of a slight extension.
The government has adopted a two-stage process for bidding in its roadmap. The first round of evaluation will assess the non-price attributes to select 120% to 150% of the submitted bid quantity. The second round will involve price competition based on an evaluation of price attributes. The bidder with the highest total score from both rounds will be selected as the winner.
