Ørsted says its proposed Mooir Vannin offshore wind farm would provide around £2 billion in financial benefits for the Isle of Man.

The renewable energy company says the island will reap significant monetary gains during its 35-year operational lifetime.

This estimated figure is based on expected revenues from taxation and seabed rental, which would be paid directly to the Isle of Man Treasury, Ørsted claims.

It says the calculations are projections based on the Agreement for Lease with the Isle of Man Government, but no more details can be released as it relates to a confidential commercial agreement.

Alongside tax income, donations will be made directly to local organisations and projects from a Community Investment Fund set up by Ørsted. In total, the company is set to invest £4.5 bn in the project.

The fund would give up to £1.5 million per year during the wind farm’s first 15 years of operation, providing £22.5 million to help communities across the island.

Mooir Vannin would be funded by Ørsted with no direct investment or subsidy from the Isle of Man Government, meaning no capital or operational expenditure risk to taxpayers.

A planning application has recently been submitted for the development. If given the go-ahead, the turbines could be operational between 2031 and 2033.

Ørsted argues there are other wind farms in operation that are closer to Manx shores but which do not benefit the Isle of Man economically or otherwise.

Mooir Vannin project director Jamie Baldwin said: ‘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 Manx territorial waters, which extend to 12 nautical miles from the coastline. Ørsted has already made a significant investment in project development, including around £2 million for a geotechnical seabed survey carried out in June this year.

Ørsted’s proposal could have around 87 wind turbines positioned between six and 12 nautical miles off the island’s east coast, extending from approximately Maughold Head to Douglas Bay.

Its latest consultation report from March 2025 shows that the turbines could reach up to 350 metres in height, with maximum blade lengths of 148 metres.

In a booklet outlining the project to date, Ørsted also details ways in which the island can receive power generated from the wind farm.

It says a new electrical cable could be laid to feed power directly to the island’s grid, or the island could buy electricity from the UK grid.

In terms of jobs, Ørsted says it would create an operations and maintenance base in Douglas while providing opportunities for other companies within the supply chain.

Ørsted argues the scheme is aligned with the island’s UNESCO Biosphere goals and helps with environmental objectives by providing cleaner power.

It does admit there will be some ‘environmental impact’ but does not go into further detail, such as the effect it may have on bird migration, for example.

There have also been discussions with other marine users, such as avoiding queen scallop fishing grounds and mitigating any impact on shipping routes, including the Steam Packet ferry sailings.

The Irish Sea already has several large operational wind farms and four more in development, with offshore wind power one of the fastest-growing sources of renewable energy in the British Isles.

In the published booklet, Benj Sykes said: ‘At a time when energy security, climate change and economic resilience are firmly at the top of the agenda, our proposals for the first offshore wind farm in the Isle of Man’s territorial waters have the potential to be a catalyst to drive long-term prosperity.

‘The Mooir Vannin offshore wind farm would unlock economic opportunity through local supply chain growth, skills development and high-quality jobs – particularly in sectors such as engineering, vessel operations and port services.

‘Offshore wind is not a distant aspiration – it’s a practical, reliable, scalable solution.’

Since committing to the Mooir Vannin, Ørsted has also sponsored a number of high-profile events on the island, including Bushy’s TT Village, Isle of Man STEMFest 2025 and the Awards for Excellence. It has also worked closely with the RNLI and Manx Wildlife Trust.

Garff Commissioners is due to hold a public meeting at the Laxey Working Men’s Institute at 7 pm on Tuesday, August 26 to gauge public opinion before presenting its own views on the proposed wind farm.

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