Airtricity has signed a deal in Germany which it says could potentially supply consumers there with up to 300MW of wind energy.
In a statement, the energy group said it had signed the heads of terms on the consented Butendiek site, 34 km off the coast of Sylt, in northern Germany.
It said the site has excellent wind speeds and water depth ranging from 18 to 20 metres, which would entail lower construction costs relative to other German sites.
"The site will consist, once built, of 80 turbines giving the project a capacity in the region of 240 - 300MW depending on the choice of turbines," Airtricity said.
"The site was initially developed as a community-funded offshore wind farm with a high number of shareholders living in the local area. Airtricity insists on keeping the local ownership aspect in the project and the original Butendiek group of investors will hold an option to buy 50 per cent of the wind farm once commissioned.
If the terms are agreed by Butendiek shareholders, Aitricity will immediately begin work on the project, with a view to completion by 2009.