Work has begun on phase one of the multi-million-pound regeneration project, which will see the building transformed into offices, event and cultural areas and residential spaces.
The masterplan includes 9ha of open space incorporating a 2.4ha park and more than 400m of waterfront along the south bank of the Thames. The redevelopment will connect the power station with Battersea Park and link the wider Nine Elms area with Vauxhall.
Sam Martin, LDA's director of exterior architecture, said the project was a once-in-a-lifetime opportunity to create a new park in central London. "It will not only benefit the residents in this part of south-west London, but it will also improve London's biodiversity," he said.