A BloombergNEF study highlights challenges in South Korea’s renewable energy growth, including declining installation rates and rising green electricity costs. However, the country made progress in corporate clean power purchase agreements (PPAs), adding a record 1.2GW in 2024. A surge of 723MW in the last quarter was driven by higher industrial electricity tariffs, making PPAs more attractive. The report also sees potential for South Korea to advance its offshore wind ambitions.
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Source: Recharge News
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