Korean 2023 Fixed Price Contract Auction for Wind Power Projects and Selected Results

　　The NREC of the Korea Energy Agency announced the result of the "2023 Fixed Price Contract Auction for Wind Power Projects" and has selected 9 successful bidders with a combined capacity of 1582.8 MW out of a total of 19 projects (totaling 2446MW submitted applications.

　　In the offshore wind sector, 5 bidders for offshore wind combined capacity of 1431MW of submitted applications 2067MW; 4 bidders for onshore wind combined capacity of 151.8MW of submitted applications 379.4MW.

　　The NREC amended the REC Rules and issued the "2023 Notice of Fixed Price Contract Auction for Wind Power Projects" on October 12, 2023 (available in Korean). According to REC Rules, the auction for wind power projects shall take place once a year (in the fourth quarter), and the applications for the "2023 Fixed Price Contract Auction for Wind Power Projects" period from October 13 to November 10 this year.

Fixed Price Contract Auction for Wind Power Projects and Selected Results

Reference:

1. New Renewable Energy Center of the Korea Energy Agency:
https://www.knrec.or.kr/biz/pds/notice/view.do?no=4021

2. Korea's Premier Law Firm KIM & CHANG