South Korea Renewable Energy Tenders

South Korea's renewable energy market is set to expand considerably in the coming years, fueled by government policies, declining costs, and a rising demand for clean energy. The country boasts abundant renewable energy resources, including solar, wind, and hydropower. The government has established ambitious goals for renewable energy deployment and has implemented various policies to support the sector. One such policy is the Renewable Energy Portfolio Standard (RPS), which mandates that a certain percentage of electricity should come from renewable sources by 2030.

The South Korean government is a significant purchaser of renewable energy. In 2021, the government procured 12.3 GW of renewable energy, and this figure is expected to rise to 42.5 GW by 2030. The government procures renewable energy through various channels, including the RPS, direct procurement from independent power producers (IPPs), and procurement from Korea Electric Power Corporation (KEPCO), the country's primary electricity provider.

The South Korean government procures a wide range of renewable energy products and services, encompassing:
Solar photovoltaic (PV) panels
Wind turbines
Hydropower turbines
Project development
Construction
Operation and maintenance

The primary authorities responsible for South Korea's renewable energy procurement are:
The Ministry of Trade, Industry and Energy (MOTIE)
The Korea Energy Agency (KEA)
Korea Electric Power Corporation (KEPCO)

The top winners of South Korea's renewable energy procurement contracts include a mix of domestic and international companies. Some of the most prominent winners are:
Hanwha Q CELLS
Hanwha Energy
SK Ecopower
Samsung C&T
Siemens

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