The company will deliver 102 wind turbines for the scheme located around 30 miles off the coast in the southern North Sea.
In addition, the deal with Siemens also includes a five-year service agreement and is worth up to one third of the overall project investment.
Each turbine will have a 7MW capacity and together will generate power for over 500,000 homes per year.
The 75-metre long turbine blades will be built in Siemens' new factory in Hull, with £5m due to be invested in Great Yarmouth Harbour which is acting as the pre-assembly port.
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Construction on the project is planned to begin in 2017 and will create 3,000 jobs during its development.
The first turbines will be installed by 2019 with operations scheduled to begin in 2020.
Keith Anderson, CEO of ScottishPower Renewables, said: "We have concluded Europe's largest project-specific wind turbine agreement just a month after taking our final investment decision, and we have scaled the final hurdle by satisfying our CfD conditions with the Low Carbon Contracts Company.
"East Anglia ONE is the first of up to four projects we would like to build in the Southern North Sea, and we hope that our plans will stimulate jobs and investment for the UK and across the region for decades to come."
Michael Hannibal, CEO Offshore of the Siemens Wind Power and Renewables Division, added: "Siemens is delighted to work with ScottishPower Renewables on East Anglia ONE offshore wind power plant. This also represents the largest single order ever for our direct-drive, 7-megawatt wind turbine."
(LM/MH)
