South Korea's Ministry of Trade, Industry and Energy (MOTIE) has actually started a tender for 1 GW of solar and 1.8 GW of wind. The ceiling rates for solar agreements stands at KRW 157,307 ($113.69)/ MWh.
October 30, 2024 Patrick Jowett
Image: Daniel Bernard, Unsplash
South Korea's MOTIE has actually opened a tender for 1 GW of solar. The ministry has actually launched the information of the procurement workout, with a ceiling rate of KRW 157,307/ MWh for proposed solar jobs.
The ministry stated this is a boost on in 2015's cap, considering current bidding competitors rates.
“In order to promote making use of low-carbon solar modules that release less carbon throughout the production procedure, a preferential rate was presented for the very first time, enabling the expense space by item to be shown in the agreement cost,” the ministry stated in declaration.
The federal government likewise prepares to acquire 1.8 GW of wind, including 300 MW of onshore capability and 1.5 GW of overseas jobs. An upper cost limitation was set at KRW 165,143/ MWh for onshore wind and KRW 176,565/ MWh for overseas wind.
The ministry stated it prepares to link solar and wind business that participate in set agreements under this tender with RE100 need business to sign power purchase arrangements.
South Korea set up 1.2 GW of solar in the very first half of 2024, according to the Korea Energy Agency.
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