The organisation that manages Scotland’s seabed leasing for offshore wind has announced that it generated £9mn of revenue in its first year of operation, £3mn over target. Crown Estate Scotland published its annual report and accounts on Tuesday 11 December, reporting that it generated £1mn in revenue from offshore wind tenants in the financial year up to April 2018. The organisation also announced that, so far in this financial year, Crown Estate Scotland has received £25mn in capital receipts from offshore wind projects achieving milestones or undergoing significant restructuring.
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