Joint venture will generate enough electricity to power 220.000 homes
Norwegian renewables firm StatoilHydro and power utility Statkraft is to develop an 88-turbine wind farm off the Norfolk coast.
The Sheringham Shoal Offshore wind farm will produce 315 MW when operationa, enough power for 220,000 UK homes when completed in 2011.
The total cost of the project is estimated at £1.03bn.
StatoilHydro will manage the construction process.