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The Crown Estate invested £5.7m in energy and infrastructure in Scotland during 2013-14, it said in the 2014 Crown Estate Scotland Report published today.
Investments included offshore wind, wave and tidal power, and carbon capture and storage (CCS). The Crown Estate said overall revenues in Scotland remained strong at £13.6 million, in line with last year’s figure, representing 4 per cent of the estate’s UK total. The total value of The Crown Estate in Scotland is £267 million, three per cent of the UK total.
In the last two years, revenue from offshore renewables in Scotland has totalled £1.4m, whilst over £11.6m was invested in the energy and infrastructure portfolio.
Crown Estate chief executive Alison Nimmo said: “Our energy portfolio has been a major focus for us and we have invested significantly, supporting Scotland’s ambitions to capitalise on its world leading offshore resources.”
The Crown Estate made significant investments in offshore wind across the UK, generating over £15m of revenue in 2013-14, up 46% from £10.6m the previous year.
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