The Crown Estate is set to pump £1.5 billion into public services and critical infrastructure over the next 15 years, thanks to sweeping new powers under the Crown Estate Act.
The changes, designed to accelerate economic growth and investment, will allow the organisation to back major offshore wind projects, digital technology and urban regeneration without having to sell off national assets.
The reforms mean the Crown Estate can now borrow money for the first time, giving it the financial firepower to invest in areas that will drive the UK’s clean energy transition and boost public finances.
Until now, it has had to rely on selling land and assets to raise funds.
By unlocking this investment, the Act will help accelerate offshore wind leasing, modernise the seabed for marine renewables and roll out new technologies that support nature recovery.
The Crown Estate’s growing role in green energy is already attracting private capital, following a major deal with Great British Energy last year, which could leverage up to £60 billion in investment.
The Act also expands the Crown Estate Board from eight to twelve commissioners, with a new requirement to review how their activities contribute to sustainable development across the UK.
These new powers will empower the Crown Estate to invest in new growth-generating projects and deliver a greater return for the public purse, benefiting public services right across the UK.
Importantly, this change will also preserve and protect the precious national assets run by the Crown Estate, creating a lasting prosperity for future generations.
Financial Secretary to the Treasury, Lord Livermore
On top of driving renewable energy, the new financial freedoms will allow the Crown Estate to invest in urban regeneration, including projects supporting the UK’s science and innovation sector.
The government says the Act is part of a wider plan to remove barriers to growth, including cutting red tape for key industries, streamlining planning for housing, and backing the National Wealth Fund, which created 8,600 jobs and unlocked £1.6 billion of private investment in just six months last year.
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