Aberdeen has been selected as the strategic and operational headquarters for floating wind venture Green Volt.
This important step is seen as placing the Granite City at the very centre of the energy transition.
It is the first major industry announcement to follow the UK Government's decision to headquarter GB Energy in Aberdeen.
Up to 40 direct jobs are to be based at the HQ of Green Volt, which is expected to trigger around £2.5billion of investment and 2,800 jobs in construction.
The project will be located 50 miles off Peterhead, with up to 35 floating turbines generating 560 megawatts of electricity to supply the grid and deliver green power to nearby oil and gas platforms.
The business is a joint venture between Edinburgh's Flotation Energy and and Vårgrønn of Norway.
The two companies took the decision for Green Volt's HQ following a successful contracts for difference (CfD) award in September from the UK Government. This followed on after Marine Scotland and Aberdeenshire Council gave offshore and onshore planning consent earlier this year.
Aberdeen was selected for its world-renowned expertise, innovation and its status as home to the largest concentration of subsea supply-chain companies in Europe, making it a natural choice in which to anchor all strategic and operational decisions for this key energy infrastructure project.
Flotation Energy and Vårgrønn have committed to significant Scottish supply-chain investment spend, with Green Volt expected to generate at least £800million for domestic suppliers and place Scotland at the leading edge of this burgeoning new floating wind industry.
The project is the first major commercial development for floating wind in Europe, made possible through the joint efforts of industry and the UK and Scottish governments to efficiently clear planning milestones and access to the CfD.
Green Volt will provide a vital stepping stone to widescale deployment of floating offshore wind in Britain, contributing to the UK Government goal to develop five gigawatts by 2030.
Lord Nicol Stephen, chief executive of Flotation Energy, said: "Aberdeen is the ideal headquarters for Green Volt - set to be the world's largest floating windfarm. It places the city at the very centre of the energy transition, building on its deserved reputation as a global energy capital and a subsea centre of excellence. Green Volt in Aberdeen will allow the project to benefit from the region's world-class offshore skills - and will be a significant boost to the city's energy transition.
"Green Volt is a trailblazing, multibillion pound project which will kickstart jobs and investment by companies right across the Scottish offshore supply chain. The choice of our HQ in Aberdeen is clear evidence of our strong commitment to support local jobs and businesses wherever possible.
"We also look forward to the exciting opportunity of working closely with GB Energy, the Energy Transition Zone (ETZ), OEUK and the NSTA - especially as they have all decided to locate their headquarters in Aberdeen.
"It is a transformative time for the city. You can sense some real and exciting momentum growing for Aberdeen and the north-east."
Stephen Bull, chief executive of Vårgrønn, added: "Aberdeen is the ideal choice to house the Green Volt project organisation. The UK's success story within offshore wind has been built on the shoulders of the oil and gas industry. Aberdeen is at the heart of a globally-competitive offshore supply chain which will bring innovation and opportunities for the whole offshore wind sector. We can't wait to get going in the Granite City."
Flotation Energy and Vårgrønn are also looking ahead to Cenos, a much larger 1.4-gigawatt project around 125 miles off Aberdeen.
Scottish Government Acting Net Zero and Energy Secretary Gillian Martin commented: "I welcome the news that Flotation Energy and Vårgrønn's Green Volt project will be headquartered in Aberdeen. On track to become one of Europe's largest windfarms, Green Volt underlines Scotland's position at the forefront of floating offshore wind development and deployment globally.
"Investment such as that by Flotation Energy and Vårgrønn demonstrates the commitment of the sector to delivering on Scotland's huge renewables potential and to supporting a just transition, and strengthens Scotland's place as a leading global location for floating offshore wind deployment and supply chain investment."
Sir Ian Wood, chairman of ETZ, stated: ""Aberdeen, with its world-renowned expertise in offshore engineering, is the natural home for this world-leading project which will kick start the pipeline of exciting opportunities on offer for Scotland and the wider UK in floating offshore wind.
"With £2.5billion of investment being unlocked, headquartering Green Volt in Aberdeen sends a major signal to domestic and international investors that north-east Scotland is the place to invest in and deliver projects in this burgeoning industry.
"We are now seeing, as the UK Government has also decided to headquarter GB Energy in Aberdeen, a cluster of key projects emerge which are positioning north-east Scotland as the net-zero capital of Europe.
"I pay tribute to Flotation Energy, Vårgrønn and the UK and Scottish Governments in their efforts to deliver this project and the ongoing work taking place to create the conditions for the energy transition."