Real Estate Opportunities' (REO) bid to redevelop Battersea Power Station has cleared its latest planning milestone with the green light from London mayor Boris Johnson.

The £5.5bn scheme - designed by Rafael Viñoly - was approved by Wandsworth Council last month and will include support towards an extension of the Northern Line. REO's plans for the site include the restoration of the Grade II*-listed power station site - decommissioned in 1983 - and 700,000sq ft (65,032sq m) of restaurant and retail space.

A hotel, community facilities, a conference centre, a riverside park and public access to the restored areas of the power station building are also proposed. Johnson said: "Battersea Power Station has long been an iconic feature of the capital's skyline, and these plans will make sure that status is retained for years to come.

"The building was once a vital motor helping to power the capital. With its future secured through this regeneration, it will once again play a part in driving London's economy." The scheme forms part of the wider Vauxhall-Nine Elms-Battersea Opportunity Area, one of the largest regeneration sites in London.