A partnership between Spain’s Cobra Group and Flotation Energy will see 480MW of power generated in the waters west of Blackpool and south west of Morecambe Bay.
The new wind farm, situated in the Irish Sea between the resort and the Isle of Man, is one of six proposed new offshore wind projects for the waters around England and Wales.
It is not known at this stage whether the turbines would be clearly visible from Blackpool, but on clear days, the wind farm on the Isle of Man - further away - is visible from the resort.
The Crown Estate, which manages the Queen’s property and land - including the seabed off the UK coast - said it had auctioned off eight gigawatts of potential new offshore wind capacity to help the UK meet its demand for renewable electricity.
The Crown Estate is leasing off access to these waters to help develop the country's offshore wind projects and help the Government reach its target of producing 40 gigawatts of wind power from British waters by 2030.
It said the six new wind farms could generate enough clean electricity to power seven million homes and create employment opportunities across the country.
The project could help save the UK around 12.5 million tonnes of carbon dioxide emissions every year, or around one fifth of annual household emissions.
The latest development is considered a major vote of confidence in the UK’s green economy and is expected to help the Government move one step closer towards its target of net zero emissions by 2050.
Energy Minister, Anne-Marie Trevelyan said: “The UK is a world leader in offshore wind energy, with the Prime Minister’s Ten Point Plan laying out a bold ambition to produce enough offshore wind to power every home in the UK.
“Energy delivered by the new offshore wind projects in The Crown Estate’s latest leasing round will help power seven million homes, driving forward our commitments to eliminate the UK’s contribution to carbon emissions by 2050, creating thousands of new jobs and ensuring Britain builds back greener.”
Dan Labbad, chief executive of The Crown Estate, added: "Round 4 offers a major boost for the UK’s green economy and subject to environmental assessments, these projects have the potential to create new jobs and deliver green and affordable energy to millions more homes.
"With a net zero goal, some of the best offshore wind resources in the world, and clear commitment from Government and industry to continue investing in the low carbon economy, the UK stands ready to play its part in addressing the global climate crisis.
"The task now is to work together across the sector, to coordinate the development we need offshore, in a way which is sensitive to the importance of biodiversity in our precious marine environment and brings new employment opportunities and growth to a range of communities across country."