Tuesday, March 28, 2023

King Charles wants to give up excess profits

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Great Britain

King Charles wants to sell excess profits from offshore wind farms

The British King Charles III. (74) intends to pass on the excess profits from lease contracts for offshore wind farms to which the palace is entitled to the general public. This was announced by Buckingham Palace on Thursday.

King Charles III speaks while visiting a community center. Photo: Andrew Milligan/PA Wire/dpa

Earlier, the company known as Crown Estate, which manages the Crown’s real estate and land holdings of the same name, announced a deal for six offshore wind farms. They are to be built north of Wales and in the North Sea and will in future produce electricity for seven million households. The German energy companies RWE and EnBW are also involved.

Among other things, the Crown Estate also manages the rights of Great Britain to the seabed around the coast of the country, known as the continental shelf. Therefore, the conclusion of leasing contracts for the construction of offshore wind farms falls within the sphere of the company.

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