The Crown Estate has reported £313m in net revenue profit for financial year 2021/22, up by £43m on the previous financial year.
The value of the marine portfolio increased by 22% to £5bn, driven largely by offshore wind, in particular leasing Round 4.
The increase in the marine portfolio’s value resulted in the value of the Crown Estate’s entire portfolio increasing by 8.3% to £15.6bn.
In June 2022, the Crown Estate doubled its commitment to the Offshore Wind Evidence and Change programme, from £25m to £50m.
This programme, launched in December 2020 in partnership with the UK Government and 27 member organisations, seeks to enable the coexistence of offshore wind farms with a thriving marine environment as the nation ramps up aspirations to accelerate home-grown energy independence.