The British government said Tuesday it gave its consent for the development of a wind farm off the Suffolk coast that could power more than 800,000 homes.

"Making the most of Britain's home grown energy is crucial in creating job and business opportunities, getting the best deal for customers and reducing our reliance on foreign imports," British Energy and Climate Change Secretary Ed Davey said in a statement.

East Anglia One Wind Ltd, a joint venture between ScottishPower Renewables and Swedish power company Vattenfall, plans to install as many as 240 wind turbines off the coast of Suffolk, which would make it one of the largest wind farms in the world.

Construction should be completed by the end of 2018 and power generation should start by 2019.

The joint venture submitted its application to the British government in 2012.

The country is a world leader in terms of offshore wind power installations. Coal remains a top energy source for the British economy.