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The King has agreed that profits from the Crown Estate’s new offshore wind farm deal will flow back into the UK economy, giving it a £1 billion boost.
The king refused the opportunity to support the finances of the palace so that the money would be “directed towards the broader public good” by the government.
Three of the six projects are off the coast of North Wales, Cumbria and Lancashire, and three are in the North Sea off the coast of Yorkshire and Lincolnshire.
The Crown Estate expects to generate around £1 billion per annum in total revenue for the first three years of the leases.
The king’s decision, which highlights his desire to fend off any accusations against the royal family members of abundant finances during the cost of living crisis, comes in the form of
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