Councillors have approved £25,000 of funding to facilitate intial work at the proposed new Low Carbon Investment Park (LCIP) in Buckhaven.
The new energy park, which will be designed to complement the existing site at Methil, will be built at the former Diosynth site at Muiredge.
Councillors approved the park at January’s Central area planning committee, after years of failed planning applications to turn the area into residential space.
However, the £25,000 investment is just a drop in the ocean when compared to the overall suggested price tag of £3.7 million.
The Council is currently facing a £1.2m shortfall, after an application for £1m from the Regeneration Capital Grant Fund was unsuccessful.
However, funding from both the European Regional Development Fund and Scottish Enterprise has already been made available.
Fife Council has already undertaken extensive site investigation work and technical feasibility work to identify the extent of remediation and infastructure required at the site.
Councillor Tom Adams said: “This £25,000 is a small figure for us to put into this project and obviously, when we didn’t get the £1m from the RCGF it left us in a bit of a pickle. But the area committee is fully supportive of what’s going on there and I’m pleased we are supporting it.”