The projects that were awarded: the 532 MW Anma Offshore Wind (both phases), the 500 MW Taean (Vena Energy), the 104 MW Yeonggwang Yawol (Daehan Green Power), and the 750 MW Firefly/Bandibuli floating wind farm (Equinor).
In October, MOTIE opened a tender for 2.8 GW of wind and solar energy capacity, 1.5 GW of which was sought through offshore wind.
That same month, Korea’s Energy Agency’s Renewable Energy Center issued an invitation to tender that sought to award 1 GW of fixed-bottom offshore wind and 500 MW of floating wind projects.
For fixed-bottom offshore wind, four out of seven submitted bids were selected, while only one bid was placed for floating wind.
The tender was launched in accordance with the Offshore Wind Power Competitive Bidding Roadmap, which was unveiled in August this year.
The next auction is anticipated to be announced soon, with results expected in the first half of 2025.
The 532 MW Anma offshore wind project is located in Yeonggwang-gun, Jeollanam-do, and is expected to generate 1,400 GWh of clean electricity annually, benefiting over 1.4 million South Koreans, said the developer.
The 500 MW Taean offshore wind farm, being developed by Vena Energy, is located about 30 kilometres off the coast of Taean in South Chungcheong Province.
Construction is scheduled to start in late 2026, with operations expected to commence by late 2029.
Equinor’s 750 MW Firefly/Bandibuli floating offshore wind project, located off the coast of Ulsan, is part of a major cluster of floating projects totalling approximately 6 GW.
Firefly/Bandibuli is the largest project to receive an offtake contract to date.
