Seoul backs 1.8GW in offshore wind auction

South Korea has selected five offshore wind projects totalling 1786MW in its latest offshore wind auction.

A total of 3656MW across nine projects bid into the auction, achieving a 2:1 competition ratio for the first time, the Ministry of Climate, Energy and Environment said.

The ministry added that Korea Energy Agency confirmed the results on 30 June and notified successful bidders.

The selected projects comprise the 160MW Geumodo scheme by DL E&C and Korea Midland Power in the public-led fixed-bottom segment.

In the general fixed-bottom segment, Copenhagen Offshore Partners’ 504MW Haesong 3 , B.Grimm’s 340MW Hanbit and Hanwha Group and SK Group’s 250MW Guupdo 250MW were succcesful.

In the floating segment, the 532MW Haewoori 2 by Copenhagen Offshore Partners and SK Group was selected.

Fixed-bottom offshore wind accounted for 1254MW of selected capacity, exceeding the previous year’s total annual selection of 689MW.

Floating offshore wind selection of 532MW marks a resumption of the segment after no auction last year.

The auction proceeded despite a ceiling price around 3% lower than the previous year, with more than 1.2GW of fixed-bottom capacity selected in the first half alone.

Selected projects presented plan to use domestic supply chains across key components including substructures, power cables, installation and operations, the ministry said.

The ministry plans to strengthen post-award monitoring to ensure delivery of commitments on domestic production, technology transfer and supply chain participation.

More information:https://www.renews.biz/offshore-wind/seoul-backs-1-8gw-in-offshore-wind-auction/