Masdar is buying the stake from Statoil, leaving the Norwegian energy giant with a 35% share in the wind farm and Statkraft with the remaining 30%.
Statoil will retain its role as Dudgeon's operator.
The 402MW Dudgeon plant will use Siemens 6MW turbines when it goes into service in 2017.
The Dudgeon investment is a boost for the UK sector, which is trying to attract investors to help utilities share the burden of development in the world's biggest offshore wind market.
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