Owners of Battersea Power Station have said they will submit a planning application for the scheme in the summer.

Last week Treasury Holdings confirmed it would ditch its 750ft eco-dome and replace it with smaller towers.

A spokesman for the company said: “We plan to submit an application this summer, but the designs are still to be finalised.”

He added, despite the recession, the project was on a sound financial footing.

He said: “We have the project funded right the way through the application process in two to three years time.”