Siemens has doubled its investment in a wind turbine factory and an installation facility in Hull to £160m.
The German engineering group and partner Associated British Ports will invest £310m in the Green Port Hull project in total and create 1,000 jobs in Yorkshire.
Siemens will start producing nacelles, the engines that power wind farms, and its largest model of offshore wind turbines at 6 megawatts (MW) each at a new manufacturing plant near Paull from the middle of 2016. They are currently made in Denmark.
The investment is a boost to Britain's offshore wind industry following a number of project cancellations recently due to higher-than-expected costs.
Siemens said it had chosen to invest in Britain because of its offshore wind-friendly energy policy and reliable market conditions.
Siemens said that moving the production of its 6 MW turbines from Denmark to Britain will not affect its Danish operations.
Prime Minister David Cameron said: "This investment is going to create lots of new jobs and opportunities, meaning more financial security and peace of mind for families and a more resilient economy for our country.”
Additional reporting by Reuters
