The 299 MW power station will be built next to the existing VPI Immingham power station on Humberside. It will produce electricity using natural gas sourced from the existing gas connection at the VPI Immingham combined heat and power plant.
Construction is expected to take three years.
The current cost estimate is approximately £120m, including development costs, construction costs, construction management costs, financing costs and land acquisition costs.
The application was submitted to the Planning Inspectorate by VPI Immingham B Ltd in April 2019. A recommendation for approval was made to the secretary of state for business, energy and industrial strategy in May 2020. Final approval was granted on 7th August 2020.
VPI Immingham is owned by Dutch energy firm Vitol.
Planning Inspectorate chief executive Sarah Richards said: “This is the 93rd nationally significant infrastructure project and the 58th energy project to have been examined by the Planning Inspectorate. The Planning Inspectorate has again demonstrated its ability to examine Nationally Significant Infrastructure Projects (NSIPs) within timescales laid down in the Planning Act 2008 providing developers and investors with the confidence to build and improve the infrastructure this country needs to secure future economic growth.