State-controlled EDF said it would start construction of the 450 megawatt offshore Neart na Gaoithe windfarm in the North Sea, off the coast of Fife.
The windfarm, in which Irish power firm ESB will take a 50% stake, would be commissioned in 2023.
EDF, which said it had raised $2 billion via the debt markets, said the offshore windfarm would be its largest in Britain to date.
Once operational, EDF said the windfarm would generate enough electricity to power more than 375,000 households each year, or 4% of Scotland's electricity consumption.
