The DoI has detailed the circumstances under which the agreement to lease seabed to Ørsted can be terminated.
The details were provided by Minister Dr Michelle Haywood in a written answer to a question from Chris Thomas.
There has been some questions of the Danish company’s ability to deliver its offshore windfarm plans due to its ongoing, well publicised, issues.
In her answer, Dr Haywood said the DoI can terminate the agreement if it believes Ørsted, is unable to obtain necessary consents within permitted timeframes, has committed a material breach of its obligations, or becomes insolvent.
Ørsted may also end the agreement “at any time by serving an option notice” with 20 working days’ written notice, provided it has first removed all anemometry equipment and restored the site “to a safe and proper condition to the department’s reasonable satisfaction”.
The lease agreement was signed in 2015 and since then Ørsted has been developing proposals for the Mooir Vannin offshore windfarm off the island’s east coast.