The Crown Estate received £22.9m from operational offshore wind farms in the last year, up nearly 20% on 12 months ago.
The UK seabed manager said offshore wind capital value grew by 26% to over £744m from £589.8m.
Twenty-nine offshore wind farms are operating and meeting around 5% of the UK’s electricity demand, the Crown Estate said.
A total of 5.1GW of offshore wind is now operational, with a further 1.5GW of leases signed in 2015 for four projects.
The Crown Estate said these projects should have a combined projected revenue of £6.8m a year when they reach full capacity.
By 2020, the sector is on course to meet around 10% of the UK’s electricity demand and bring costs down below £100/MWh, it added.
Overall, the Crown Estate received record income of £304.1m, up 6.7% on the previous year.
Image: London Array
Crown’s jewels shine offshore
Operational wind farms bring UK seabed manager £22.9m in last year
By EBS