Vestas’ chief technology and operating officer Anders Nielsen said: “We are pleased that this partnership in principle with the UK Government means we can continue manufacturing activities at the Isle of Wight to support the deployment of onshore wind in the UK.

“My sincere gratitude goes to everyone working for us on the Isle of Wight, for their significant contribution to wind energy, and we are pleased to be retaining, and offering a significant number of opportunities for our impacted colleagues during this process.”

Energy Secretary Ed Miliband said: “My thoughts today are with the staff at Vestas who are facing uncertainty about the future of their jobs, especially at this time of year.

“I am, however, pleased that we have reached this agreement in principle with the company to save 300 jobs on the site, and that our lifting of the ban on onshore wind farms is helping make a site earmarked for closure viable for the future.”