An Ørsted presentation gave an update to the Isle of Man business community on the latest news about offshore wind developments in the Irish Sea, including the company’s Mooir Vannin Offshore Wind Farm plans.
Representatives from a cross-section of the private, public and third sectors met at The Claremont Hotel on February 16 for the first in a series of Isle of Man Chamber of Commerce ‘Lunch & Learn’ briefings.
The audience were given a detailed update about Irish Sea offshore wind developments by John Galloway, Ørsted’s Development Director in the Isle of Man.
Ørsted presentation
Ørsted’s Mooir Vannin Offshore Wind Farm project is a proposal to build the first offshore wind farm in Isle of Man territorial seas – presenting many opportunities for the Island.
The Mooir Vannin Offshore Wind Farm, said Galloway, would be privately funded and would deliver many benefits for the Isle of Man.
This would include the Isle of Man Government receiving an annual rent for leasing the site, a percentage of revenue throughout the operation of the wind farm, plus taxation and royalties once it was established.
In addition to revenue streams directly to the Treasury, said Galloway, the Mooir Vannin Offshore Wind Farm has the potential to boost the local economy and community.
Ørsted would look to launch and operate a ‘community investment fund’ which would help charities and other Island causes during the lifetime of the wind farm.
Over the last 10 years, Ørsted has invested over £15 billion in the UK building offshore wind farms and expects to invest the same amount in the coming decade.
As part of the Mooir Vannin Offshore Wind Farm project, options are being explored to create an operational base here on the Island.
The wind farm, said Galloway, also has the potential to provide some of the Island’s renewable energy needs to help Government meet its net-zero targets, and to assist businesses looking for green energy to support their net-zero and ESG strategies.
The presentation concluded with a summary of the project timeline which has the aim of the wind farm being operational around 2032.
For full details about the Mooir Vannin Offshore Wind Farm project go to https://orsted.im/mooirvannin
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