Renewable energy will boost the economy by at least £5 million a year and create 50 new jobs.
That's the estimate made by government - which has published guidance to encourage larger-scale interested parties to develop in the Island's territorial seas this week.
It's a collaboration between the departments of Environment Food and Agriculture, Infrastructure and Economic Development - with the documents providing more clarity on the Manx legislative framework and the processes already in place.
Minister Phil Gawne explains what can be expected from the industry in the future:
Man admits to drunk and disorderly allegations in court
43 per cent of survey respondents recommend Island for a holiday
Moorhouse to ask about effect of Tesco on Shoprite charities
Manx Utilities seeks approval to store hazardous material in former amenity site
Social Security launches new messaging platform
Wildlife Park donates £4,000 towards saving Humboldt penguins on World Penguin Day
No plans to showcase Manx produce at new L'pool ferry terminal
Sights Matters IOM's headquarters turns 21 today
