The "wind harmony" study will look at the alignment of safety, health and environmental standards at onshore and offshore wind projects across Europe, from construction through to decommissioning.
Consultancy Eclareon, advisory firm the Renewables Consulting Group (RCG) and industry advocate WindEurope will head up the consortium.
Alan Chivers, RCG chairman, said: "From the early days of wind energy, local regulatory differences have caused confusion and undoubtedly added time and cost to projects. Convergence of health and safety standards in Europe will create and deliver a significant cost reduction pathway.
"RCG has long supported international harmonisation, contributing to greater understanding, increased workforce mobility, and efficiency. The team assembled will deliver incredible value and ultimately a safer industry."
The study will deliver an analysis of current and proposed health and safety legislation across Europe and provide a methodology to assess and prioritise where alignment at a European level could be beneficial.
This initiative is seen as crucial for the European wind power industry, with its strong manufacturing, development, and construction base, as it seeks to influence technological development worldwide.
The final contract with the European Commission's Directorate-General for Energy is expected to be signed imminently.