South Korea’s Ministry of Climate, Energy and Environment (MCEE) has launched a tender for approximately 1 GW of new solar capacity under the country’s fixed-price contract scheme (South Korean Renewable Energy Agency press release, 16/07/2026).
The tender offers successful bidders a fixed-price contract with a ceiling price of KRW147.7/MWh (USD99.5/MWh), approximately 5% lower than the ceiling price applied in the previous 1 GW solar tender. The scheme also includes preferential tariffs for solar projects using low-carbon modules, granting an additional KRW16 (USD0.01)/MWh for grade 1-certified modules and KRW7/MWh (USD.05c/MWh) for grade 2-certified modules.
The 2026 auction will be the final procurement round under South Korea’s Renewable Energy Portfolio Standard (RPS) framework before the country transitions to a new system based on capacity-based government auctions. Since its introduction in 2017, the fixed-price tender mechanism has selected more than 10 GW of solar capacity.
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