South Korea's Offshore Wind Auction Results Expected in June 2026
The H1 2026 offshore wind auction in South Korea closed on May 12, with bids exceeding the available capacity of 1.8 GW. Developers aimed to secure a share of this capacity, with results to be announced in June, reflecting the country's push to expand renewable energy sources.
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The auction aimed to allocate approximately 1.8 GW of offshore wind capacity in South Korea, but bids exceeded 3.6 GW. The fixed-bottom projects accounted for around 1.4 GW, with a dual bidding process allowing for local developer support while promoting competition.
The general auction received four bids totaling 1,598 MW, while the public-led market saw two bids totaling 560 MW. Floating projects contributed an additional 400 MW, with three bids submitted. Ceiling prices were set at KRW 171.229/kWh for fixed-bottom and KRW 175.100/kWh for floating projects, lower than prior auctions. This auction is part of South Korea's goal to achieve 18.3 GW of offshore wind capacity by 2030.
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