As the RPS system is replaced by a contract market system starting next year, the final offshore wind competitive auction eligible for REC multipliers will proceed. This auction will be conducted across three categories: fixed-bottom (general), floating (general), and public-led (fixed-bottom). Developers are expected to participate in large numbers given that this represents the last opportunity for REC multiplier benefits on new offshore wind projects.
On October 13, the MCEE (Ministry of Climate, Energy and Environment) and the KEA (Korea Energy Agency) held a briefing session at the Samjeong Hotel in Seoul ahead of the second-half offshore wind fixed-price contract competitive auction this year.
At the briefing, held roughly three months after the announcement of first-half offshore wind competitive auction results, revisions to the rules governing renewable energy certificate issuance and trading market operations related to offshore wind competitive auctions (RPS rules) and adjustments to scoring weights for certain evaluation indicators were introduced.
Baek Gil-nam, team leader of KEA's competitive auction division, explained the direction of the second-half offshore wind competitive auction: "The final announced capacity will be confirmed by the RPS Operating Committee before the auction announcement, taking into account the government roadmap, the volume requested by obligated entities, and competitive ratios comprehensively." He added, "We have decided to maintain the additional preferential pricing previously granted when 10MW-class wind turbines developed through government R&D are used in public-led offshore wind projects in this year's second-half auction." The only product meeting the conditions for this preferential pricing is the Unison model.
