March 6, 2021

Lakefront Hartwell

Complete News World

UK: Royals shake hundreds of millions of pounds from wind farm industries

The sale of wind farm rights from the British coast to German companies would increase the income of the royal family. The deal, announced Monday, will bring the Royals up to $ 220 million a year over the next ten years – two and a half times their current livelihood. One of the prerequisites is that during the next review, the government will not change the amount of the so-called sovereign grant, the share of royalties in the profits of their property manager Crown Estate.

Many energy companies, including RWE and EnBW, have the space to build offshore wind farms in the twelve-mile zone, which are owned by the royal family and managed by the Crown Estate, for higher optional charges.

The money raised does not personally belong to the Queen and her family, but is used for their livelihood and to maintain their lands. The proceeds go to the state, which pays the sovereign grant to the crown. Its level has been up 25 percent since 2017 – about $ 220 million at an optional fee of $ 879 million a year. This financial year, for example, it is 86 million million. It is calculated from the income of the previous year and is currently for the financial year 2018/19.

NPW has partnered with British energy company BP for its project. BP insisted that the group avoid paying for a maximum of ten years. The final investment decision must be made within four years, and electricity must be produced after seven years. Rental wind farm farm turnover will fall by two per cent due to the Crown Estate. Specific projects still need to be approved, and environmental studies are pending.

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EnBW has been expanding its renewable energy business for many years. By 2025, a good half of the generation portfolio should have this. It is linked to investments in the billions. In addition to large wind turbines, for example in the Baltic Sea, the project also includes international projects, for example in the United States and Taiwan.

NBW boss Frank Mastiux recalls that Great Britain is currently the world’s largest maritime market. In addition, they have a “strong partner with international experience in the maritime trade” with PP. EnBW and BP are two marine wind farms planned in equal parts, with a total output of three gigawatts.

For Great Britain, four projects with various energy companies – two in the Irish Sea and two in the North Sea – represent an important step on the path to green energy. Prime Minister Boris Johnson wants to provide electricity from sea wind farms to all households by 2030.


(kbe)

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