This footage from Alan Ball shows the electrical substation ablaze this lunchtime. Police have issued a warning for residents to keep windows and doors closed as they tackle the fire.
The area is closed to all incoming traffic as emergency services attend the scene.
Leicester Fire and Rescue service said they were responding to initial reports of a fire in the area at around 11:00am.
A high voltage electrical sub station was said to be ablaze following an explosion.
Crews are using covering jets which they have laid out to protect surrounding buildings from any further risk.
Western Power have also isolated the transformer which contains 8815 litres of oil which is being allowed to burn off.