According to Isle of Man Minister for Economic Development John Shimmin, the potential return from large offshore wind farms is expected to be around £5m annually from leasing the seabed in its territorial sea and create around 60 jobs for one wind farm’s operation and maintenance.

"All the infrastructure costs involved in building and installing the wind farms would be borne by the developer, not the Isle of Man government," added Shimmin.

Source Low Carbon has been selected to assist the government with the process for tendering for future offshore wind farms and tidal energy schemes in the territorial seas.

Minister for the Department of Infrastructure David Cretney said, "I am delighted that Source Low Carbon has been selected to assist the Isle of Man Government in relation to offshore renewable energy advisory services.

"Existing constraints such as transport links will be protected in any future energy developments within the Isle of Man’s territorial sea."