nkt will deliver over 150km of 220kV high voltage submarine cables, which will be manufactured in Cologne, Germany.
The first phase of the cables will be supplied in 2016 while the second and final phases are due for delivery in 2017.
The order is conditional upon Dong Energy making a final investment decision for the project.
nkt cables CEO Michael Hedegaard Lyng said: "The award of the Race Bank project underlines that our technology, expertise and state of the art facilities in Cologne and Rotterdam is well acknowledged by the utilities. The order is a recognition of our position as a highly reliable cable manufacturer and partner for large offshore projects."
Dong Energy acquired the Race Bank offshore wind farm from Centrica in December 2013.
The project will be located around 16.8 miles off Blakeney Point on the North Norfolk coast and 17.4 miles off the Lincolnshire coast at Chapel St Leonards.
The wind farm will feature about 91 turbines and the offshore array will cover an area of about 29 square miles.
With a potential maximum capacity of about 580MW, the wind farm is expected to generate enough energy for about 457,296 homes in the UK per year.
The project is expected to save more than 830,000 tonnes of CO2 emissions per year.
Image: Dong Energy acquired the Race Bank offshore wind farm from Centrica in December 2013. Photo: Courtesy of nkt cables group.
