The Crown Estate is about to start a new auction for the right to develop offshore wind farms in the waters around England and Wales, according to the Financial Times. Twenty-five percent of the Estate’s profits from this action will be paid to the Windsor family.
The Crown Estate will receive whatever amount the successful companies bid for the right to develop the wind farm plus two per cent of the turnover. Last year the Estate’s income from existing leases was £41.2m.
The decision to increase the Windsors’ take to 25% was taken by just three men, the then prime minister, the chancellor of the exchequer and Queen Windsor’s chief financial officer.