Step forward for offshore energy project
A seven year licence has been granted to a local firm to explore the possibilities for harvesting tidal energy off the Island's north coast.
Infrastructure Minister Phil Gawne says Manx Tidal Energy Ltd will assess the practical and commercial possibilities for electricity generation off the Point of Ayre.
Today's announcement represents a step forward for a key government strategy to boost the economy by leasing the sea bed.
Survey licenses are yet to be granted for three further sites off the southern end of the Manx coast.
If the northern site shows potential, turbines anchored to the sea bed could harness fast currents to generate a constant supply of renewable energy, some of which could be exported to the UK.
Among factors to be taken into account are the effect of the scheme on fishing grounds, shipping and the environment.
Minister Phil Gawne said: ‘The opportunities for the Isle of Man in renewable energy are significant.'
He went on: 'Leasing parts of our seabed to offshore tidal developers will generate substantial revenue directly to the Isle of Man Government, helping to fund public services as well as lowering our carbon footprint.’
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