Leasing seabed to energy firms could generate millions

Tue, 04 Feb 2014

Leasing parts of the Island’s seabed to energy companies could generate millions of pounds in revenue for the Manx government.

Last year Tynwald gave approval for government to look at the opportunities which could take place in our territorial waters.

Now companies have been invited to submit their ideas for offshore energy production including wind and tidal power.

Government says the potential return from an offshore wind farm could be at least £5 million.

Dr Ken Milne is senior manager for energy policy – he says the positive benefits are far reaching: