South Korea awards almost 1.9GW of offshore wind capacity

South Korea’s Ministry of Trade, Industry, and Energy awarded 1,886MW of offshore wind capacity to five projects in the latest auction, including Equinor’s 750MW Firefly floating wind project. The projects also include fixed-bottom projects by Vena Energy, Daehan Green Power, and Jeonnam, with 20-year fixed tariff power purchase agreements. The auction exceeded the set capacity targets for both fixed-bottom and floating offshore wind projects, showcasing the country’s commitment to renewable energy development.

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