UK Energy minister Charles Hendry made the comment at the inauguration of the 172MW Gunfleet Sands wind farm off the east coast of England.
The investment would need to be brought in over the next 10 to 15 years.
Hendry described the figure as "a difficult but not unachievable ambition". He said it would require a "significant contribution from government, industry and other relevant stakeholders".
He also called for a "significant acceleration in deployment and technical advances" in order to make use of offshore resources.
Other issues that need to be addressed include building an offshore grid and ensuring a timely system for issuing consents.
The Gunfleet Sands wind farm is owned by Dong Energy and consists entirely of Siemens 3.6 MW Siemens wind turbines.