South Korea announced the result of its first power auction focused on clean hydrogen and ammonia under the Clean Hydrogen Portfolio Standard (CHPS).
Among the five bidders, only one advanced to further negotiations, as it was the sole bidder to stay below the undisclosed price ceiling set by the Korean government.
A total of 5,782 GWh was registered out of the 6,500 GWh opening volume, indicating a slight under-subscription. However, only 11% (or 750 GWh) of the opening volume was qualified.
This outcome identified key challenges in developing Korea’s clean hydrogen power sector, which need to be addressed to attract more participants and successful bids in future CHPS rounds.
