The Isle of Man government is inviting expressions of interest from parties seeking to develop offshore energy production in Manx territorial seas.
Minister for Economic Development John Shimmin said: ‘The opportunities for the Isle of Man in renewable energy are significant. For example, we estimate that leasing parts of the seabed within our waters to an offshore wind farm developer would generate several millions of pounds of income per year for the Isle of Man Government.
‘The potential return to the Isle of Man from large offshore wind farms could be worth £5m per year from leasing the seabed in our territorial sea.
‘All the infrastructure costs would be borne by the developer, not the Isle of Man Government.’