South Korea seeks 2.2 GW in second offshore wind tender, bringing 2026 total to about 4 GW

South Korea has opened its second offshore wind tender of 2026, offering 2.2 gigawatts (GW) of capacity at lower bid price caps than in the first round. The auction brings the total capacity offered this year to about 4 GW as the government seeks to attract investment and bring down the cost of offshore wind power.

The tender sets aside 1.7 GW for fixed-bottom wind farms and 500 megawatts (MW) for floating projects. Of the fixed-bottom capacity, 1.4 GW is open to general competition and 300 MW is reserved for projects led by public institutions.

The government capped bids for fixed-bottom projects at 168,937 won per megawatt-hour (MWh), down 1.34% from the first-half tender. For floating wind, the ceiling fell 0.63% to 174,003 won per MWh. The government said the revisions reflect projected offshore wind generation costs in South Korea and abroad, exchange rate movements and the level of competition in the bidding process.

Projects competing for the 300 MW allocation must include a minimum equity stake held by a public institution. The government expects public participation to give projects greater stability, build local support and strengthen the domestic supply chain for offshore wind equipment.

The tender follows a long-term auction plan released in June. By offering more capacity each year, the government aims to give developers a clearer basis for investment decisions and help the industry lower costs through economies of scale. It also plans to support shared grid infrastructure, ports and vessels, and to help developers secure permits and financing.

South Korea is also considering extending fixed-price contracts to 25 years from 20. A longer contract would give developers greater certainty about revenue over the life of a wind farm and could reduce investment risk.

Sources: Official tender notice · OffshoreWIND.biz