£2bn boost for Island offered by Ørsted’s offshore wind farm

This estimated figure, says Ørsted, is based on expected revenues from taxation and seabed rental which would be paid directly to the Isle of Man Treasury, plus donations directly to local organisations and projects from a Community Investment Fund which Ørsted would set up. The fund would give up to £1.5million per year during the wind farm’s first 15 years of operation, so from the fund alone that’s potentially £22.5million to help communities across the Island. The Mooir Vannin Offshore Wind Farm would be funded by Ørsted. No direct investment or subsidy would be required from Isle of Man Government, which means no capital or operational expenditure risk to the Government or taxpayers.

Jamie Baldwin, Mooir Vannin Offshore Wind Farm Project Director, commented: “We’re proud to have been given the opportunity to develop what would be the first wind farm within the Isle of Man’s territorial waters. Our proposals, which are also aligned with the values that underpin the Island’s UNESCO Biosphere status, represent a unique, once in a generation opportunity for the Island which we are excited to explore further with the Isle of Man Government, Manx Utilities and the wider community.”

In 2014 the Isle of Man Government issued a tender for leasing an area of its territorial seas for offshore wind as part of its first Marine Plan. An Agreement for Lease was signed in 2015, and since then Ørsted has been developing proposals for the Mooir Vannin Offshore Wind Farm off the Island’s east coast. It would be the first offshore wind farm in the Island’s territorial waters which extend to 12 nautical miles from the coastline. Ørsted has already made a significant investment in project development, including around £2million for a geotechnical seabed survey carried out in June this year.

A booklet is available on the document library section of orsted.im/mooirvannin which explains the once in a generation financial, community and energy benefits which the Mooir Vannin Offshore Wind Farm has the potential to bring to the Island. The website also includes full details about the wind farm proposals and timeline.