The project, located 15km off the Fife coast, envisages the installation of 64-125 wind turbines with a combined capacity of 450MW entailing an investment of £1.4bn.

The Scottish Government’s Strategic Environmental Assessment (SEA) earmarked the site as one of only six in the current Scottish Territorial Waters programme suitable for development.

Mainstream Renewable Power offshore business chief executive Andy Kinsella remarked that the filing of application is a significant milestone in the delivery of the project.

"This project is of strategic importance to Scotland; not only will it supply a significant percentage of the country’s electricity demand it will also help to deliver Scotland’s and the UK’s renewable energy targets in advance of 2020," added Kinsella.

The company expects to reach financial close in 2013 and begin construction work in 2015.

Once fully operational by the end of 2016, the project supply electricity to 325,000 homes in a city the size of Edinburgh or up to 3.7% of Scotland’s electricity.