Norway’s Statoil and Statkraft have decided to start constructing the Dudgeon wind farm off the coast of Norfolk.
The 402MW wind farm is expected to support up to 450 jobs and generate enough electricity to power more than 400,000 homes. Around £1.5 billion is estimated to be invested in the wind farm.
It is one of the eight renewable projects that were awarded early investment contracts by the Government.
Energy Minister Michael Fallon said: “Today’s decision underlines the success of our new contracts and will bring about a steady stream of investment in renewable electricity.
“As the best place in the world to invest in offshore wind, the UK is attracting millions of pounds of investment, supporting hundreds of local green jobs and strengthening its energy supply with home-grown sources.”
The wind farm is expected to start generating electricity in 2017.