South Korea launches first PV tender in 2022

According to foreign media reports, the Korea Energy Agency has launched the first of two photovoltaic system tenders planned for this year.

In this tender, the Korea Energy Agency plans to purchase PV systems with a total installed capacity of 2GW, which are divided into four categories: PV systems with installed capacity less than 100kW; PV systems with installed capacity from 100 to 500kW; installed capacity from 500kW PV arrays up to 3MW; and PV systems with installed capacity above 3MW.

The selected PV systems will receive a flat rate under 20-year contracts under the country's Renewable Energy Certificate (REC) scheme and will sell power to local electricity distributors. In addition, these PV systems will prioritize PV modules with a low carbon footprint.

Interested PV project developers have until July 1 to submit bids. The final results of the tender are expected to be announced on August 19, with the winning bidder receiving the final contract in October this year.

In two tenders held in 2021, the Korea Energy Agency has tendered 2GW and 2.2GW of PV systems respectively, while in 2020 it has signed tenders for 1.2GW and 1.4GW. The country has tendered PV systems with a total installed capacity of 600MW, 600MW and 850MW in 2017, 2018 and 2019, respectively. Overall, South Korea will tender for 4GW of PV systems this year.

As of December 2021, the cumulative installed capacity of photovoltaic systems in South Korea is about 22GW. The new installed PV capacity in 2021 will be about 4.4GW.

In addition, South Korea plans to install 30.8GW of photovoltaic systems by 2030.