1 Day
Source:
The Guardian
Crown estate earns over £1bn for third consecutive year
Developers paid £875m in option fees last year to lease seabed areas from the Crown Estate, the legal owner of the ocean floor around England, Wales, and Northern Ireland. The Crown Estate reported a £1.2bn profit for the last financial year, primarily driven by offshore wind industry income, which contributed two-thirds of the total. The earnings support public spending and royal duties, with a portion paid directly to King Charles. The Crown Estate expects profits to stabilize as more windfarm projects progress, despite potential policy changes affecting renewable energy subsidies.
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