Some market sources say that MOTIE is considering putting the end to the ‘long-term SMP+REC fixed-rate scheme,’ which could be a major setback to the 2.4GW Saemangeum solar project. A media quoted market sources that MOTIE has put a revision on the table which will give fixed rates only to REC, leaving SMP under new floating rates. The fixed-rate scheme was implemented back in 2017 to resolve uncertainty in PV projects’ profitability.
While the revision is still in a realm of speculation, a MOTIE official commented that public hearings will be organized, Energy Newspaper quoted.
Source: Energy Newspaper