The Swedish firm will now commence the construction of the €1bn project. The work is a part of a concession awarded to Vattenfall by the Danish Government in 2015.
Scheduled to be commissioned in 2018, the project is designed to generate electricity required to power 400,000 Danish homes.
Vattenfall president and CEO Magnus Hall said: "Horns Rev 3 is an important part of Vattenfall´s ambitions in the field of wind and particularly on our focus on offshore wind farms.
"Horns Rev 3 also gives a clear signal to the world around us that Vattenfall´s strategy is to make new investments in renewable electricity generation and to grow in wind.
"Vattenfall supports the transition to a totally renewable energy system and takes up the challenge, in spite of current low electricity prices and excess capacity."
MHI Vestas Offshore Wind, a 50/50 joint venture of Mitsubishi Heavy Industries (MHI) and Vestas Wind Systems, was earlier selected to supply V164-8.0 MW wind turbines for the project.
Vattenfall owns a 60% stake inthe 160MW Horns Rev 1 wind farm located in Denmark. The remaining 40% stake is held by Dong Energy.
Vattenfall is currently developing two other offshore wind farms, Dan Tysk and Sandbank, in the German part of the Nordic Sea, in partnership with Stadtwerke München.
Image: Vattenfall has majority stake in Horns Rev 1 offshore wind farm in Denmark. Photo: courtesy of Vattenfall.
