Alexander Temerko said the refusal created a “very bad precedent” and strongly criticised Penny Mordaunt, the former defence secretary and a Portsmouth MP, for claiming the project posed a risk to energy security.

The 55-year-old businessman will seek a judicial review against the Government’s decision. He warned that energy investment is a “long-term investment business” but “regulation in Europe is much more stable and more effective than in the UK”, with renewable energy projects facing lengthy hurdles this side of the Channel.

Mr Temerko said: “Five million people in this country will not be able to afford electricity – for the first time – and they refuse this application and postpone two others.” He added that the UK presents itself as “[the] greenest, very bold, very brave” but is failing to deliver on this rhetoric. “We need to create a massive renewable hub in the UK and interconnectors from Europe,” he said.

Mr Temerko said the decision was “absolutely wrong”. He added: “Between populism and real jobs we need to make a decision. That is a problem for government.” France had never stopped supplying electricity, he added. “The real threat to national security is Penny Mordaunt