Korea to run 1.8GW offshore wind competitive bid in H1, with a lowered price cap
The Ministry of Climate announced a first-half competitive tender totaling 1.8GW of offshore wind capacity, while adjusting the bid’s upper limit downward. The market is closely watching how the tender parameters affect project economics and participation as developers position for upcoming rounds.
Proposed “Offshore Wind Profit Sharing Act” would require revenue sharing with the public
A bill has been proposed to distribute offshore wind project profits to the public, with the stated aim of easing citizens’ energy burden through revenue sharing. If enacted, offshore wind farm operators would be obligated to share profits, adding a potential new requirement to project business models and stakeholder planning.
CIP steps up offshore wind supply-chain development with expanded domestic collaboration
CIP has launched efforts to develop the offshore wind supply chain and is expanding collaboration with domestic partners. The report links these moves to offshore wind testing-related activities, highlighting continued focus on building local capability and partnerships.
Unison adopts co-CEO structure to accelerate offshore wind project execution
Unison has shifted to a co-CEO management system, a move positioned as supporting faster progress on its offshore wind efforts. The article also references ongoing testing and development activities tied to these projects.
Coverage of the Dadepo offshore wind project points to a claimed economic impact of KRW 1.4 trillion, while noting that the project is currently stalled by multiple licensing hurdles. The report underscores how permitting and approvals remain a key execution risk for Korean offshore wind development.
Vestas partners with Mokpo National Maritime University on offshore wind workforce development
Vestas has begun a collaboration with Mokpo National Maritime University to develop a long-term offshore wind talent program. The partnership is set to include education and research focused on offshore wind technologies, reflecting ongoing industry efforts to strengthen the skills pipeline.
Ulsan hosts floating offshore wind forum focused on testing and industry coordination
A floating offshore wind forum was held in Ulsan, bringing together stakeholders and experts. Discussions centered on offshore wind testing, reflecting continued interest in technical validation and alignment among participating organizations.
Korea sets first-half offshore wind bid at 1.8GW, with a lower price cap
The Ministry of Climate announced a first-half competitive bidding round totaling 1.8GW for offshore wind,
South Korea's government has introduced a bill mandating offshore wind farm operators to share project profits with the public, aiming to alleviate energy costs for citizens.
Korea's offshore wind sector anticipates a surge in bidding activity ahead of the Renewable Portfolio Standard (RPS) sunset, though underlying profitability issues raise investor caution.
Korea Midland Power (KOMIPO) has submitted a permit application for its 'IC2' offshore wind project in Incheon, which overlaps with the ferry route to Baengnyeongdo and other western islands. This ove
With the upcoming Special Act on Offshore Wind, South Korea's offshore wind auction system needs to shift from pure price competition to focus on project completion feasibility and risk distribution.
Two new legislative proposals in Korea are raising significant concerns among offshore wind developers. One bill suggests the government take up to 20% equity in projects, while another, introduced on
