The Ministry of Climate, Energy and Environment (Minister Kim Seong-hwan) announced on November 17 that they would be launching a competitive fixed-price contract bid for wind power facilities at the Korea Energy Agency’s New and Renewable Energy Center for the second half of 2025.
This bid targets onshore wind power, with the tender amounting to approximately 230 megawatts (MW). This system allows renewable energy companies to sell the electricity they generate at a fixed price for 20 years, aiming to create a stable renewable energy market.
For offshore wind power, discussions are ongoing with relevant ministries to resolve uncertainties related to permits, and a separate offshore wind power bid will be pursued once these discussions are complete.
The bid submission period is from November 17 to December 29, spanning 30 business days. The final results are expected to be announced around February 2026 following an evaluation process.
The competitive bidding will proceed in two stages: the first is a non-price evaluation assessing industrial and economic effects, and the second is a quantitative evaluation focusing on the bid price.
The ceiling price for this bid has been set at 163,846 won per megawatt-hour (MWh). This decision considered international levelized cost of energy (LCOE) fluctuations, the recent trend in onshore wind bid prices, and the tendency for the ceiling price to decrease.
The Ministry of Climate, Energy and Environment expects this competitive bidding to promote sustained growth in the wind power industry and strengthen the foundation for expanding renewable energy.
