UK's Crown Estate records £1.1bn profit in 2023/24 due to offshore wind farm lease tenders.
The UK's Crown Estate, overseeing King Charles' public properties, recorded £1.1bn profit for the 2023/24 financial year, a significant increase from £442.6m in 2022/23. The boost is attributed to the successful round 4 of offshore wind farm lease tenders held in 2021, where companies pay for the right to build offshore wind projects, with fees up to £1bn per year for six winning projects, payable for a minimum of three years and up to a decade.
July 23, 2024
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