Plans are being unveiled for a £130m biomass power plant which could provide more than two thirds of the Isle of Wight's electricity.
The Reality Energy Centre, proposed at an old council landfill site in Stag Lane, Newport, could create 235 jobs.
Island-based Real Ventures Ltd believes the privately-funded plant, which would burn wood pellets to create steam to power generators, could open in 2013.
A planning application is expected to be submitted later this year.
A number of public exhibitions will be held before the proposal is sent to the council.
Real Ventures Ltd was formed by island residents who came together after opposing plans for wind turbines.
Their project also claims would help cut the island's carbon emissions by 60%.
The centre will be able to provide heating and hot water for nearby public and industrial buildings through underground insulated pipes from a distribution centre.
Ray Tucker, from Real Ventures Ltd, said: "The island has been searching for suitable renewable energy projects that will make a significant and real difference for some time.
"We believe our biomass plant provides the right answer.
"Employing proven modern technology, our plant will be highly energy efficient and environmentally friendly and it's entirely appropriate for the island."
As part of the plan , developers also plan to create a wildlife sanctuary on part of the 8.7 hectare (87,000 sq m) site.