Isle of Man Government takes next step to exploring offshore wind and tidal energy opportunities

| February 4, 2014 | 0 Comments

The Isle of Man Government has taken a further step towards exploring the opportunities for generation of offshore wind and tidal energy and is now inviting expressions of interest from parties seeking to develop offshore energy production in Isle of Man territorial seas.

Minister for Economic Development John Shimmin commented:

‘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 involved in building and installing the wind farms would be borne by the developer, not the Isle of Man Government.

‘The Government Departments leading on this project being my Department, the Department of Infrastructure (DOI), the Department of Environment, Food and Agriculture (DEFA) and Treasury, has brought in expertise from Source Low Carbon LLP to assist with the process for tendering for future offshore wind farms and tidal energy schemes in our territorial seas.

‘There is also other economic development potential for the Isle of Man as these offshore installations will require onshore facilities to meet the operation and maintenance of the turbines. We are estimating the creation of around 60 jobs if just one wind farm is progressed.

‘Consultation will continue with all stakeholders potentially affected by the development of any wind farms in Isle of Man territorial sea to avoid any adverse impacts.’

Minister for the Department of Infrastructure David Cretney MHK commented:

‘I am delighted that Source Low Carbon has been selected to assist the Isle of Man Government in relation to offshore renewable energy advisory services.

‘Source Low Carbon was selected for its team’s excellent experience of policy and development issues for offshore wind and marine renewable projects. The Isle of Man Government believes that offshore wind, wave and tidal generation projects within our territorial sea can make an important contribution to UK and European renewable energy targets while delivering significant benefits to the Island’s economy.’

‘Existing constraints such as transport links will be protected in any future energy developments within the Isle of Man’s territorial sea.’

Cathryn Hooper, one of Source Low Carbon’s three founding partners said:

‘Source Low Carbon is delighted to have been selected by the Isle of Man Government as its marine renewable energy advisor. We look forward to applying our experience of the offshore wind market and our understanding of development issues in the UK and more specifically in the Irish Sea to help promote a successful licencing process and deliver jobs and inward investment to the Isle of Man economy.’

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Category: Energy, Finance & Business

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