South Korea has launched a 1 GW solar tender that will offer successful bidders fixed-price contracts, marking the final auction under the country's Renewable Portfolio Standard (RPS) scheme before a new capacity-based auction system is introduced.
The Ministry of Climate, Energy and Environment (MCEE) announced that the tender covers around 1 GW of new solar capacity. The maximum bid price has been set at KRW 147,686/MWh (around USD 99.46/MWh), approximately 5% lower than the price cap used in last year's 1 GW solar auction.
To encourage the use of lower-carbon products and strengthen domestic manufacturing, the tender includes additional incentives for certified low-carbon solar modules. Projects using Level 1 certified modules, which have the lowest manufacturing carbon footprint, will receive an extra KRW 16/MWh, while those using Level 2 certified modules will receive KRW 7/MWh.
Compared with the previous tender, the incentive for Level 1 modules has increased by KRW 4/MWh, while the Level 2 incentive has been reduced by KRW 2/MWh. The ministry said these adjustments reflect recent market price differences between certified and non-certified modules.
MCEE and the Korea Energy Agency will hold an online briefing on July 21 to explain the bidding process and tender requirements.
The ministry also confirmed that this will be the last solar tender under South Korea's RPS framework. Beginning next year, the country plans to replace the current fixed-price RPS tender with a government-led, capacity-based auction mechanism, aiming to improve the efficiency of renewable energy procurement.
According to government data released earlier this year, South Korea's fixed-price solar tender program has awarded more than 10 GW of solar capacity since its launch in 2017.
Data from the International Renewable Energy Agency (IRENA) also shows that South Korea's cumulative installed solar capacity reached 30.35 GW by the end of 2025, an increase of 3.6 GW compared with the end of 2024.
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