The island, which lies in the Irish Sea between Ireland and Great Britain, is looking to develop offshore energy to export to neighbouring countries to help them reach their renewable energy targets and bring in income for the government.
The Isle of Man is aiming to achieve 2-3GW of offshore wind capacity by 2020. Interim development of around 60MW is envisaged by 2015.
John Shimmin, economic development minister, said: "There is a significant opportunity for the Isle of Man to lease parts of its seabed for the generation of renewable energy to assist the United Kingdom to meet its national and European renewable energy targets for 2020.
"Locating wind turbines in our territorial sea will potentially generate millions of pounds worth of revenue per year for the Isle of Man Government.
"Offshore wind farms also offer other economic development potential for the Isle of Man. These offshore installations will require onshore facilities to meet the operation and maintenance of the turbines so we are estimating the creation of around 60 jobs if just one wind farm is progressed."
The Isle of Man owns its territorial waters out to 12 nautical miles, which covers 4,000 square kilometres. Its shallow waters and close proximity to the UK make offshore wind generation cost effective.
Individuals and organisations interested in assisting with future tenders for offshore wind should click the Isle of Man government site by 12noon on 18 October.