Dong and Siemens will buy a stake of 50 percent in the 270 megawatt wind farm from the British power company Centrica for an estimated 50 million pounds (€55 million), a statement said.
The transaction is to be completed in January, it added.
Centrica would retain the remaining 50 percent and be the lead partner in the project, which is expected to provide enough electricity for 200,000 homes.
Siemens is to deliver wind turbines and grid connection equipment for the project, to be located in the North Sea, eight kilometres from Skegness, in eastern England, a statement said.
The 50 percent stake owned by Dong and Siemens "represents a capital investment of approximately €417 million," the statement said.
Lincs is in the final stages of preparation before construction that is expected to begin in mid 2010 and run until 2012.