Seoul: Industry Minister Ahn Duk-geun announced on Wednesday that South Korea will expedite its efforts to expand renewable energy usage this year, integrating national security considerations into the bidding processes for energy projects. The statement was made during a meeting attended by approximately 100 officials from the renewable energy sector.
According to Yonhap News Agency, Ahn emphasized the government's commitment to closely monitoring the supply chain of the offshore wind energy industry. He highlighted that addressing global oversupply and security challenges would require incorporating national security as a crucial factor in the bidding process for offshore wind energy projects.
Furthermore, Ahn revealed plans to support the solar energy industry, with detailed strategies expected in the first half of the year. The Ministry of Trade, Industry and Energy indicated that the government aims to maintain a comprehensive carbon-free energy portfolio by considering various factors such as supply chain dynamics and associated costs.
Industry representatives at the meeting urged the government to implement measures to counteract increasing global competition, particularly concerning the oversupply of renewable energy products.