Under the agreement, Statkraft-managed RWE/Statkraft project team will be responsible for development and construction phases of the 900MW wind farm.
Expected to cost between £3bn and £4bn ($4.6bn-$6.1bn), the wind farm will provide enough electricity to meet the energy needs of up to 800,000 average households annually while creating up to 1,900 jobs.
Statkraft executive vice president Jon Brandsar said: "This is an important step for Statkraft in delivering on our strategy for offshore wind."
Statkraft Offshore Wind head Olav Hetland said: "The project itself is blessed with ideal characteristics for an offshore wind farm, including shallow waters, strong wind resource, and excellent ground conditions."
RWE Innogy CEO Hans Bunting said: "Securing partners for projects such as Triton Knoll has been a key objective in our renewables strategy, and this latest successful partnership with Statkraft highlights the attractiveness of our developments and RWE’s continued commitment to offshore wind.
