DONG Energy has been selected by Isle of Man government as the preferred partner for the development of 700MW offshore wind farm in the Irish Sea.
The proposed site of the wind farm will be located off the east coast of the Isle of Man within the 12-mile limit of the island's territorial sea.
DONG Energy UK country chairman Brent Cheshire said: "We welcome the announcement that we are the preferred bidder for this project which is an exciting and substantial opportunity in an area we know well.
"This is a positive step towards strengthening our offshore wind pipeline beyond 2020 and we look forward to further exploring this opportunity."
The lease agreement is with regard to the 700MW project option, with delivery scheduled in 2023.
Isle of Man Infrastructure Department Minister Phil Gawne said: "I am delighted that DONG Energy has been selected as our preferred partner to develop an offshore wind farm in the Isle of Man.
"DONG Energy is the global market leader in offshore wind farm developments and, with the recent commission of West of Duddon Sands, now operate seven offshore wind farm projects in the UK. They were successfully selected based on a technical and economic assessment."
The Isle of Man estimates that seabed leasing for renewable energy generation would strengthen the island's public funds by at least £5m annually and create more than 50 new local jobs.
DONG Energy UK country chairman Brent Cheshire said: "We welcome the announcement that we are the preferred bidder for this project which is an exciting and substantial opportunity in an area we know well.
"This is a positive step towards strengthening our offshore wind pipeline beyond 2020 and we look forward to further exploring this opportunity."
The lease agreement is with regard to the 700MW project option, with delivery scheduled in 2023.
Isle of Man Infrastructure Department Minister Phil Gawne said: "I am delighted that DONG Energy has been selected as our preferred partner to develop an offshore wind farm in the Isle of Man.
"DONG Energy is the global market leader in offshore wind farm developments and, with the recent commission of West of Duddon Sands, now operate seven offshore wind farm projects in the UK. They were successfully selected based on a technical and economic assessment."
The Isle of Man estimates that seabed leasing for renewable energy generation would strengthen the island's public funds by at least £5m annually and create more than 50 new local jobs.