Tidal Lagoon Swansea Bay Ltd expects to submit a planning application for a tidal power project in Swansea Bay next year, according to BBC.
The company plans to build and operate a multimillion-pound tidal lagoon, which would generate enough electricity to supply 100,000 homes and have a lifespan of 100 years.
The first attempts to harness tidal power were made in 2003 by a charity that intended to power 10,000 households, while Tidal Electric Ltd made the second proposal in 2006.
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Offshore WIND Staff, October 26, 2012; Image: OpenHydro