The Ministry of Climate, Energy and Environment (MCEE, Minister Kim Sungwhan) announced that it will issue a notice for the first half of 2026 competitive bidding for fixed-price contracts for offshore wind power on March 30 at 9:00 a.m. through the Korea Energy Agency website (www.knrec.or.kr).

In this notice, the bidding volume was set within a range that ensures effective competition, and the ceiling price was partially adjusted in consideration of market conditions, including global trends in the levelized cost of energy (LCOE) and capital expenditure (CAPEX) for offshore wind power. In addition, by presenting large-scale offshore wind capacity in the gigawatt (GW) range in the first half of the year, the government aims to accelerate deployment in earnest while gradually stabilizing offshore wind contract prices.

In the first half of this year, the total announced bidding volume for offshore wind competitive bidding is approximately 1,800 MW, consisting of about 1,400 MW of fixed-bottom offshore wind and about 400 MW of floating offshore wind, to be announced separately. 

First, the bidding volume for fixed-bottom offshore wind totals approximately 1,400 MW, of which about 1,000 MW is allocated to general bidding and about 400 MW to public-led bidding.

The public-led bidding market, newly introduced last year (2025), will be operated under the same requirements this year, and it is expected that public-sector developers participating with a certain level of equity will support the securing of local acceptance and enhance project implementation stability, thereby contributing to strengthening supply chain security and public interest.

A total of approximately 400 MW of floating offshore wind will be announced. In particular, this year the ceiling price for floating offshore wind bidding will be applied separately from that of the fixed-bottom projects, reflecting differences in site conditions, technological maturity, and supply chain conditions compared to fixed-bottom offshore wind. 

The bidding ceiling price was set by comprehensively considering market conditions such as the global LCOE and CAPEX for offshore wind, as well as trends in technological development and project conditions. The ceiling price for fixed-bottom offshore wind is approximately KRW 171.229/kWh, while that for floating offshore wind is approximately KRW 175.100/kWh, representing decreases of 3.02% and 0.83%, respectively, compared to last year’s ceiling prices. 

The government views this bidding round as a starting point for both expanding offshore wind deployment and gradually lowering contract prices, and plans to continue enhancing price competitiveness through promoting competition, technological innovation, and expanding the supply chain. 

Meanwhile, recognizing that securing national core security interests and addressing the risks of offshore wind projects at an early stage are of utmost importance in the process of expanding offshore wind deployment, the government conducted in advance a military operability consultation process for 10 projects intending to participate in this bidding. 

The notice stipulates that if a project that has not undergone military operability consultation is selected as a winning bidder, the consultation must be conducted first before proceeding with the project. Through this, the government aims to reduce uncertainties in the later stages of project implementation, while continuing to consult with relevant ministries, including the Ministry of National Defense, to ensure harmony between national security and offshore wind development. In addition, starting in April, the government plans to receive requests for military operability consultations from projects intending to participate in the second-half bidding.

For detailed information on this year’s bidding, please refer to the notice posted on the Korea Energy Agency website (www.knrec.or.kr). 끝.

For further information, please contact the Public Relations Division. 

Contact person: Gina Lee, foreign media spokesperson

Phone: +82-44-201-6055

Email: gcjgina @gmail.com