Norwegian energy firms Statoil and Statkraft have made a final investment decision on the Dudgeon offshore wind farm project in the UK.
Located 32km off the coast of the seaside town of Cromer in North Norfolk, the Dudgeon has a maximum capacity of 402MW and is estimated to cost £1.5bn (NOK15bn).
The firms will now develop the Dudgeon offshore wind farm, starting with construction of onshore cables and onshore substation while offshore construction will commence in 2016.
Scheduled to enter full production in late 2017 while supporting up to 450 jobs, the 402MW Dudgeon project will feature 67 Siemens wind turbines each with 6MW of capacity, generating enough power for 410,000 UK homes.
UK Energy Minister Michael Fallon said, "We have already attracted £34bn of private sector investment in renewable electricity since 2010, with the potential to create almost 37,000 jobs in the UK."
Statoil is the operator of the fully consented, proposed offshore wind project.
Statkraft Offshore Wind senior vice-president Olav Hetland said with the investment decision, Statkraft is taking a significant step forward in growth plans in the UK offshore wind industry.
"The Dudgeon project is a profitable investment, will deliver significant amounts of clean, affordable power to the UK market, and provides an excellent basis for Statkraft to further develop our capabilities within the maturing offshore wind industry," Hetland said.
The UK Government awarded the license for the Dudgeon site in the Round 2 allocation in 2003.
Statoil renewable energy cluster senior vice-president Siri Espedal Kindem said: "We believe this project could further strengthen our position in the UK, benefiting from the positive and constructive dialogue already established with UK authorities, local communities and suppliers."