The developer will spend £150 million on saving and restoring Sir Giles Gilbert Scott’s 1930s power station, while also building a separate 300m high ‘chimney’ tower.
The overall development will include 750,000 sq m of residential, office and retail space. A hotel will also be constructed as part of the scheme and there will be a six acre public park, a riverside walk and an urban square.
Battersea Power Station will be used to generate power – for the first time in a quarter of a century – but using renewable sources rather than coal.
Two of the existing power station’s chimneys will be reused as flues for the new Energy Centre.
A 300m high Chimney and Eco-Dome will dramatically reduce carbon emissions of the 38 acre £4 billion development.
Construction is planned to start in 2012 with completion expected by 2020 – depending on the speed of the planning process.
REO’s development manager Treasury Holdings UK is in discussions with Transport for London about building an extension of the Northern Line from Kennington to bring the Tube into the heart of Battersea.