26 Jun '12, 12pm

Crown Estate reports 122% jump in offshore renewables revenue #green

Crown Estate reports 122% jump in offshore renewables revenue #green

Outlining its financial performance and key achievements for the year ending 31 March 2012, the Crown Estate provided details about its marine division. Total revenue generated by the marine estate was £55.6m (€69.0m), representing a 13.3% increase on the previous year and a 32.7% increase on 2008’s results. Offshore renewables – primarily offshore wind farms – contributed £7.8m, or 14.0%, to the marine estate’s overall revenue, and identified by the Crown Estate as a significant factor in a healthy increase in the profitability of its marine estate. Meanwhile, work related to subsea cables and pipelines contributed £12.7m to the marine division’s revenue, with some of this linked to the offshore wind sector. The value of the UK’s marine estate also increased, rising by 24%, to £726m. The Crown Estate attributes part of this jump to rises in the value of individual offshor...

Full article: http://www.windpowermonthly.com/news/rss/1138214/Crown-Es...

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