£2bn boost for Island offered by Manx Offshore Wind Farm Plan

The company behind a proposed wind farm in Manx waters says it could bring billions to the Island’s economy.

Ørsted says its proposed Mooir Vannin Offshore Wind Farm, planned for the east coast, could bring around £2 billion to the Isle of Man over 35 years.

It claims the farm would be fully funded by the company - with no investment or subsidy required from the Isle of Man Government, meaning no financial risk to taxpayers.

Ørsted says the £2 billion estimate is based on projected revenues, including payments to the Treasury from taxation and seabed rental.