Orsted on misunderstandings about Isle of Man windfarm

Transcript

00:00Ben, I'm sure you've heard a range of different ideas, opinions about the

00:06off-stairs plans for the offshore wind farm today. What would you say is the biggest myth

00:15surrounding the project that you've heard today or during the consultation so far?

00:19Yeah, so perhaps not so much as a myth as a misunderstanding, which is fair enough because

00:24we're still in the process of informing people, and that's about how the project is financed.

00:30The Morvanian project in Norsted is not looking for any financial support or subsidy from the

00:36Isle of Man government or indeed the Isle of Man. More generally, we are financing this project

00:42ourselves and I think it's really important to understand that this isn't an ask of the Isle of

00:47Man government. Just to recap on that, there won't be any sort of capital funding coming out of

00:53essentially taxpayer contributions towards the creation of these turbines or this project?

00:59That's right. We estimate this project will be for four and a half billion pounds of capital

01:03investment and we also will be making that investment on our own. We won't be looking

01:10to get any financial support from the government for that.