ScottishPower has made its final investment decision for a 714MW offshore wind farm in the UK.
It expects to spend at least 50% of the total £2.5 billion investment in the country.
The project, located off the coast of Suffolk, will include 102 turbines and generate enough electricity to power around 500,000 homes.
More than 3,000 jobs are expected to be created during construction.
The energy company secured a price of £119/MWh through the UK’s first renewable energy auction process.
It claims the project will be “the best value offshore wind farm in the world”
ScottishPower adds it would deliver clean power at a price that is 15% lower than any other offshore wind farm project currently under construction in the UK.
Charlie Jordan, ScottishPower Renewables East Anglia ONE Project Director said: “East Anglia ONE will deliver substantial environmental benefits for the UK, it will stimulate considerable UK investment and it will support thousands of jobs.
“East Anglia has some of the best conditions anywhere in the world for the development of offshore wind and we are fully committed to the region, with future developments already in the pipeline.”
Earlier this month DONG Energy confirmed it will build the world’s largest offshore wind farm in the UK.