Abu Dhabi-based Masdar has agreed to acquire a 49% stake in RWE’s 3GW Dogger Bank South offshore wind project in the UK.

The deal allowing the United Arab Emirates’ renewables powerhouse to enter into Dogger Bank South was signed by the chief executives of both companies during the COP28 climate summit, which began in Dubai on Thursday.

Billed as one of the largest planned offshore wind development projects globally, DBS is expected to power up to 3 million homes in the UK.