The Republic of Korea (South Korea) promulgated a Particular Act on the Promotion of Offshore Wind Energy Distribution and Industrial Growth (OSW Promotion Act) in March 2025, which considerably alters the regulatory panorama for home offshore wind energy improvement.
The OSW Promotion Act will substitute South Korea’s present “open door” coverage for offshore wind energy improvement with a government-directed and facilitated course of, together with a “one-stop store” regulatory committee and a “fast-track” to acquire most required licences and permits. Particular particulars are anticipated to be publicised (with a possibility for public remark) within the coming months via an enforcement decree and enforcement guidelines supplemental to the OSW Promotion Act.
Implications
The important thing implications of the OSW Promotion Act embody the next.
Speedy cessation of latest PWOPs. The restriction on the issuance of latest PWOPs is efficient instantly on promulgation. Going ahead, any OSW initiatives that haven’t already obtained a PWOP might solely be developed following choice to take part in a government-designated energy technology zone.
One-stop store and fast-track permits anticipated to streamline improvement. The institution of the OSW Energy Technology Committee as a “one-stop” authority overseeing most facets of the event of OSW initiatives and the “fast-track” licensing and allow course of that may grant deemed attainment of as much as 28 development-related licences and permits inside energy technology zones will possible scale back the general time required to finish OSW initiatives in South Korea.
A leg up for government-led initiatives. Sure provisions of the OSW Promotion Act set up grounds for preferential help to OSW initiatives developed by state-owned enterprises and quasi-governmental establishments, which is able to possible improve GenCo participation in OSW challenge improvement.
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