Ørsted company changes won't affect Manx wind farm plans

Danish firm announced outcome of a global portfolio review today

The company behind the Isle of Man's first potential offshore wind farm says the project is 'going ahead as planned'.

Questions were raised earlier today (7 February) after Ørsted announced the outcome of a global portfolio review.

The Danish firm is to axe hundreds of jobs, exit several offshore wind markets (Spain, Portugal and Norway) and pause its dividend payments to shareholders - in an attempt to recover from a chaotic 12 months.

As reported, in the Guardian, Ørsted has struggled in the face of high inflation, supply-chain disruption and rising interest rates, which have hit the windfarm industry. 

The company has also experienced problems in the US in attempting to secure tax credits.

Last year Ørsted cancelled two big offshore wind farm projects in the US - the Ocean Wind I and II schemes - blaming a sharp rise in costs. 

It took a 28.4bn Danish kroner (£3.3bn) hit as a result of the decision.

Manx Radio contacted the company for comment regarding the future of its proposed Manx wind farm, which would be approximately six to 12 nautical miles off Maughold Head.

Development Director John Galloway said they're still on track to submit a planning application to the Isle of Man Government in 2025.

In a statement he said: "At Ørsted this week we announced the outcome of a global portfolio review and the Mooir Vannin Offshore Wind Farm here in the Isle of Man is continuing as planned. 

"We will be carrying out extensive seabed survey work this spring and hosting public consultation events this summer with a view to submitting our planning application to the Isle of Man Government in 2025.”