Work on the West of Duddon Sands wind energy project, to be located 14 kms southwest of the Barrow-in-Furness coastline, is expected to begin in early 2012.
The 50/50 partnership project will consist of 108 units of Siemens 3.6MW turbine.
The wind farm is expected to be fully completed in 2014 and will generate enough electricity to power approximately 300,000 British homes.
The facility will cost up to £1.6bn ($2.58bn), which includes the cost to construct the offshore transmission assets.
These assets will be sold to an offshore transmission operator when the power project goes into operation and the costs of the transmission assets will be returned.
According to the companies, the operational base for the wind farm will be the Port of Barrow, which is also being used for the operation of several other wind energy projects in the East Irish Sea.
