2022-06-14 10:55:00
S.KOREAN SOLAR POWER 2 GW
ENERDATA- 13 Jun 2022 - The South Korean Energy Agency (KEA) has launched a 2 GW solar PV tender, to be allocated across four categories: projects of less than 100 kW; from 100 to less than 500 kW; from 500 kW to less than 3 MW; and 3 MW and over. Selected projects will be awarded a fixed rate under a 20-year contract under South Korea’s Renewable Energy Certificate (REC) scheme and will sell electricity to local distributors.
This solar PV tender is the first of two 2 GW tenders planned by the KEA in 2022. Bidders will have until 1 July 2022 to submit their bids, the results will be announced on 19 August 2022 and the winning bidders will be awarded a final contract in October 2022.
In the two tenders held in 2021, the KEA allocated 2 GW and 2.2 GW respectively. South Korean solar PV capacity is growing rapidly and surpassed 18 GW in 2021 (+25% compared to 2020). The country aims to reach over 30 GW of solar capacity by 2030 and to reach 40% of renewables in the power mix by 2034 (9% in 2021).
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