An auction of offshore plots for future windfarms is being held by the Crown Estate
The Queen’s ownership of the British coastline is as old as the monarchy itself. But her right to collect royalties from wind and wave power is much more recent: it was granted by Tony Blair’s Labour government in a 2004 act of parliament.
The Crown Estate, which manages the royal property portfolio, is holding the first auction of seabed plots for windfarm turbines in a decade. It emerged this week that bidding has reached record highs as energy firms look to diversify away from oil.
