The world's largest turbine blades will be built by Siemens Wind Power UK, Artemis Intelligent Power and Clipper Windpower in the UK.
Clipper is developing the prototype for the blade which will be more than 70m long and weigh more than 30t for the Britannia project.
Development will begin at the Clipper facility by the end of 2010.
Siemens is manufacturing the next-generation power convertors for the large offshore turbines and Artemis will look after the hydraulics.
The UK's Department for Energy and Climate Change (DECC) has approved grants of $10.58m for the project under the Low Carbon Energy Demonstration (LCED) capital grants scheme.
Energy and climate Secretary Ed Miliband said Britain was 'consolidating its lead' in offshore wind power, an industry that could generate tens of thousands of jobs by 2020.
"The funds I'm announcing today are part of the £120m investment we are making this year and next in the wind industry to make that happen," he said.