The UK GIB has acquired a £236m stake in the wind farm, which will be built 13km off the Sussex coast in the English Channel.
After completion, the wind farm is estimated to generate 1,333 GWh of renewable energy per year, enough to power about 300,000 homes.
It is expected to reduce 600,000 tons of carbon dioxide emissions per year across its 25-year lifetime.
The project will feature 116 3.45MW wind turbines, related foundations, an offshore substation and cabling.
MHI Vestas Offshore Wind will deliver the turbines for the project, while E.ON will offer construction, operations and maintenance as well as energy management services.
E.ON UK chief executive Tony Cocker said: "At around £1.3bn this investment by E.ON and our partners at the UK Green Investment Bank could be one of the biggest capital projects confirmed in Britain this year and we are proud of the leading role we are continuing to take in helping transform the UK’s energy infrastructure."
E.ON has to date completed the construction of seven offshore wind farms, totaling 1.2GW, with another 507MW presently under construction.
GIB said the purchase of stake in Rampion facility is its seventh investment in the UK’s offshore wind sector.
Once operational, the projects will generate more than 2.5GW of renewable energy, enough to power over two million homes.
Image: The Rampion offshore wind farm will feature 116 3.45MW wind turbines. Photo: courtesy of UK Green Investment Bank.
