So far, one giant turbine has been floated into place, while four more wait in a Norwegian fjord to be towed, said the BBC.
The floating turbines are being built by Stratoil and the entire cost of the project is a reported £190m, which has been subsidised by United Kingdom bill payers as part of the government's Renewable Obligation Certificates.
The Peterhead wind farm off Peterhead in Aberdeenshire, Scotland, called Hywind Scotland, is using revolutonary technology to bring power to 20,000 homes.
"It's nearly unlimited. Currently, we are saying [floating wind farms will work in] water depths of between 100 and 700 meters, but I think we can go deeper than that".
There are more than 40 other floating wind farm projects being developed in different parts of the world today.
The wind farm, known as Hywind, is 25km off Peterhead.
Two of the floating turbines awaiting to be tugged off the coast of Norway to Scotland.
Floating on a sealed vase-like tube 78 metres deep, the turbine's bottom filled with iron ore to weight the base and keep it upright in the water.
Leif Delp, project director for Hywind said: "This is a tech development project to ensure it's working in open sea conditions".
The huge turbines are now being moved into place.
If successful, floating wind farms like this could prove to be a revolutionary new energy source, allowing UK [MD16] to take advantage of energy resources previously marked "out of reach" because the seabed was very deep to build rooted structures on.
The U.K.is reported to be the world's largest offshore wind market at 36% installed wind capacity, followed by Germany at 29%, and then China at 11%. In terms of Scotland's entire electricity demand, wind energy accounted for 57%. Statoil officials believe floating wind farms will eventually be built without government assistance, however, after the technology becomes more widespread and increased production brings costs down. The cost of the project, The Guardian reports, is £200,00 ($250,000).