Project 2 will hold up to 360 turbines with a maximum total capacity of 1.8GW. This consists of two smaller projects, Breesea and Optimus Wind.
Smart Wind said it expected a decision from the energy minister by mid-2016.
In December, UK energy minister Ed Davey gave consent for the construction of the 1.2GW Hornsea 1. An online date of 2019 has been proposed.
The project can now proceed to construction, although this is still dependent on the final investment decision. Smart Wind is made up of Siemens, Dong Energy and Mainstream Renewable Power.