Offshore wind helped the value of the Crown Estate’s energy, minerals and infrastructure portfolio increase 18% in the last year to £1.1bn, generating income of £27.7m.
Asset management activity in the last 12 months included signing over 2.6GW of leases for four projects, including agreeing the lease for the 1.2GW Hornsea 1 offshore wind farm with Dong Energy, the seabed manager said.
It said there are now 30 operational offshore wind projects totalling 5.1GW.
Overall, the Crown Estate made a record return of £328.8m last year for HM Treasury, with capital value up 2% at £13.1bn.
The Crown Estate director of energy, minerals and infrastructure Huub den Rooijen said: “This has been another strong year for the UK offshore wind industry, bringing further momentum on cost reduction, along with a clear development pipeline.
“The UK remains one of the most attractive places globally to invest in offshore wind, and growing confidence in the sector offers further evidence of its competitiveness as a low carbon energy resource.”
Image: The Crown Estate
