Selected Wind and Solar Power Capacity to Expand in Korea
The Ministry of Trade, Industry and Energy (Minister Bang-gyu Bang) has announced the expansion of selected wind and solar power capacity in Korea. The competitive applications for wind energy facilities in 2023 and the competitive application for solar power facilities in the second half of 2023 were published on October 12.
The number of competing applications for wind energy production facilities has significantly increased, with onshore wind energy facilities reaching 400 MW and offshore wind energy facilities reaching 1,500 MW. This growth indicates the start of a substantial wind energy expansion in the country.
Compared to last year, the selected volume for wind power facilities has significantly expanded. In line with the government’s wind power facility supply target of 19.3 GW by 2030, the capacity for onshore wind power has been limited to 400 MW to ensure fair competition among wind power generation sources. Meanwhile, offshore wind power has been set at 1,500 MW.
Furthermore, the Ministry has implemented measures to encourage fair competition by expanding price competition. Score calculations have been improved to widen the gap in scores per bid won. The upper price limit has been kept confidential to discourage businesses from bidding near the upper limit price and promote genuine competition.
In addition, adjustments have been made to increase the power of discrimination by allocating points to industrial economic impact indicators and incorporating system-related evaluation indicators to enhance system acceptability.
Regarding competitive solar power applications, the selected capacity will be within 1,000 MW, aligning with the government’s supply goals. The upper price limit remains unchanged at 153,494 won/MWh, the same as in the first half of 2023.
The Ministry aims to promote the renewable energy market through competitive applications, stimulating cost-effective renewable energy supply, reducing power generation costs, and ensuring predictability and stability through long-term fixed price contracts. This effort will contribute to the increased adoption of renewable energy in Korea.
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Selected solar power capacity within 1GW… The upper limit price is the same as in the first half of the year
[인더스트리뉴스 이건오 기자] The number of competing applications for wind energy production facilities has increased significantly compared to the previous year to within 400 MW for onshore wind energy facilities and 1,500 MW for offshore wind energy facilities, and wind energy expansion is expected to begin in earnest.
The competitive applications for wind energy facilities in 2023 and the competitive application for solar power facilities in the second half of 2023 were published on October 12. [사진=gettyimages]
The Ministry of Trade, Industry and Energy (Minister Bang-gyu Bang) announced that the Korea Energy Agency’s New and Renewable Energy Center announced on October 12 the competitive bid for wind power facilities in 2023 and the competitive bid for solar power facilities in the second . half of 2023.
Competitive applications for wind power generation facilities will be held for the second time this year, following last year.
Firstly, this time the selected volume was significantly expanded compared to last year. Last year, a combined 374MW of onshore and offshore wind power was selected, but this year, given the government’s wind power facility supply target (19.3GW by 2030) such as the 10th Basic Electricity Supply and Demand Plan, and on for fair competition among wind power generation sources, onshore wind power was limited to within 400MW. , offshore wind power was set at 1,500MW.
Next, we will expand price competition. By improving the standard for calculating score by price, the gap in scores per 1 bid won is widened, and the upper price limit is also kept confidential to prevent businesses from bidding near the upper limit price and encourage real competition.
In addition, the gap between points allocated to industrial economic impact indicators was adjusted to expand the power of discrimination, and system-related evaluation indicators were added and adjusted to contribute significantly to system acceptability.
Meanwhile, in the case of competitive solar power applications, the selected capacity will be within 1,000 MW, taking into account the government’s supply goals, etc., and the upper price limit will be 153,494 won / MWh (based on land , price SMP + 1REC ), the same as the offer in the first half of 2023.
The Ministry of Trade, Industry and Energy announced that it intends to implement the renewable energy market which focuses on competitive applications in the future. Through this, it is expected to contribute to the spread of renewable energy by stimulating cost-effective renewable energy supply by causing a reduction in power generation costs and by increasing the predictability and stability of operators’ prices through long-term fixed price contracts.
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