I think its being developed up to the point where a TWAO can be submitted, but that wont happen until the site has new owners and progress on the development starts.
It's just temporarily on hold. Too much planning has finally come into existence.
Google VNEB and Wandsworth. The whole riverside areas is planned for 16,000 units. The planning district is looking at £40,000 per unit development fee to pay for the tube extension. In exchange this part of the riverside will become a centre for residential skyscrapers.
What everyone knows is the Power station is a huge space that no one is interested in filling, everyone also knows that it is worth more demolished. Recent figures say £470 million more. I'm nor sure if it will be knocked down but the sands seem to be shifting.