Plans to redevelop the decommissioned coal-fired power station will see tens of thousands of jobs created.
The Malaysian owners of the site, located on the south bank of the River Thames, plan to convert the building into a complex of shops, offices, homes and a hotel. 20,000 building jobs and 13,000 permanent positions will be created from the £8billion conversion project.
Boris Johnson, Mayor of London, says: "It is brilliant that this historic landmark that helped power London for much of the 20th century will be at the centre of this huge regeneration project that will also help power the capital to even greater economic prosperity in the 21st.”
Deputy Prime Minister Nick Clegg, says: “Britain needs and must cultivate an investor-friendly economy. It’s not just for us but about a shared prosperity – mutual business deals globally. Every deal counts, but we want to be bold, we need to think big.
“I’m looking forward to meeting the world’s political and business leaders over the coming weeks to showcase Britain.”