A major offshore wind farm, set to be the largest on the planet, took another leap forward Thursday with SSE Renewables and Equinor announcing the completion of a deal to finance the project.

Once completed, the Dogger Bank Wind Farm in Britain -- a 50:50 joint venture between the two firms -- will have a total capacity of 3.6 gigawatts (GW). [...]

Phases A and B will use GE's 13 megawatt Haliade-X turbine, while the wind farm as a whole will have the ability to power as many as 4.5 million homes in the U.K. annually. Onshore construction works for the project started earlier this year.