Ørsted holds exclusive rights to assess the seabed for an offshore wind farm until November 30 2030, the DoI minister has said.
The confirmation came in a written answer to a question from Chris Thomas.
The company’s rights are granted under an Agreement for Lease signed in November 2015.
Minister Dr Michelle Haywood said: “The assumption made in this Agreement regarding power export to the UK is that the Tenant will export power to the UK market.
“It is also assumed that this export will be eligible for CfD. In respect of what conditions need to be fulfilled for the Isle of Man Government to grant a lease to Orsted following this Agreement, I can advise that a valid Option Notice may be served by the tenant to the department within the option period.”
Option
She also said that the agreement was varied with amendments included increasing an option period, introducing new definitions for socioeconomic studies, and revising fee structures and project milestones.
For a full lease to be granted, Ørsted will have to have “obtained all necessary consents for the development” and having “complied with all its contractual obligations”.