South Korea has chosen five offshore wind projects with a total capacity of 1,786 MW in its 2026 competitive auction for fixed-price contracts, following bids from nine projects totaling 3,656 MW.
The Ministry of Climate, Energy and Environment (MCEE) reported a 2:1 competition ratio for the first time since the offshore wind auction scheme’s 2022 inception. This round awarded 1,254 MW of fixed-bottom offshore wind and 532 MW of floating wind, marking the revival of floating wind auctions after none occurred in 2025 due to low participation.
In the public-led project category, the Korean government selected the 160 MW Geumodo fixed-bottom offshore wind farm. Three other fixed-bottom projects secured capacities in the general bidding track: the 250 MW Gulupdo, the 340 MW Hanbit, and the 504 MW Haesong 3. One floating wind project was selected: the 532 MW Haewoori 2 floating wind farm.
Copenhagen Infrastructure Partners (CIP), a Denmark-based investor, owns and develops Haesong 3 and Haewoori 2, securing over 1 GW of the 1,786 MW awarded in the auction.
The selected projects are committed to using the domestic supply chain across key areas, including substructures, power cables, installation, construction, and operations, according to the ministry.
All projects that adopted 10 MW-class turbines, for which the Korean supply chain is well established, were selected. Projects with plans to use 15 MW-class turbines, which are not yet independently developed domestically, filed plans to at least produce them locally and submitted technology transfer plans, according to the MCEE.
The ministry plans to enhance post-award monitoring to ensure commitments regarding domestic production, technology transfer, and supply chain participation are met.
The MCEE also announced its Offshore Wind Mid- to Long-Term Bidding Implementation Roadmap, outlining annual auction volumes for 2026-2035. The roadmap aims to improve market predictability and support continued investment in offshore wind deployment, infrastructure, and the domestic supply chain.
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