The queen has got herself a nice little earner thanks to seabeds the royal family owns off the coast that are being leased for wind farms, and a new round of bidding could see her on the receiving end of £100 million.
The royal seabeds are home to wind farms that are producing eight per cent of the country's electricity, which generated £41 million for the royals last year. As it stands, the entirety of the profits from Crown Estate-owned land that is leased is put into the treasury, with the government dishing out a quarter of it back into the royal coffers.
The people tasked with managing the estate have now put up another five areas for potential leasing, which extends to East Anglia, Dogger Bank, Southern North Sea, North Wales and the Irish Sea. It's all sizzling hot property as the government scrambles to fulfil its 2050 net zero emissions target. Estate managers are meeting with industry leaders today prior to bidding to sort out the finer details of how they'll fight over it.
"This is round four of the leases of the Crown Estate, and currently is in its very early stages," said a spokeswoman for the Crown Estate. "We are hoping to launch the auction by the end of the year and as a result will see the wind farms built by the late 2020s, early 2030s."
Meanwhile, onshore wind farms, while not hugely popular with the government, could be back on the board if it wants to meet that 2050 goal, with a number of industry bodies claiming that UK households could enjoy up to £50 off their energy bills if Britain's onshore wind capacity is increased from 13GW to 35GW by 2035. [Great Yarmouth Mercury]
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