Incoming and outgoing tides at six lagoons is expected to generate renewable power for 155,000 homes in the UK.
The country’s government is likely to support the development of tidal projects at the six sites under the Swansea scheme.
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While four of the projects will be in Wales, two others will be set up in Somerset and Cumbria, reports BBC.
UK energy secretary Ed Davey was quoted by BBC as saying: "I can’t make a decision on this yet because discussions are ongoing. But I’m very excited by the prospect of tidal power.
"We have got some of the biggest tidal ranges in the world and it would be really useful if we could harness some of that clean energy."
Swansea, Cardiff, Newport, and Colwyn Bay in Wales; Bridgwater in Somerset; and West Cumbria are the proposed sites for the tidal projects.
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By GlobalDataThe projects will involve construction of new sea walls near the lagoons, where the weight of the water will be used to power the installed turbines.
Tidal Lagoon Power is the developer for the Swansea Bay scheme. The firm is presently negotiating the charges to be fixed for the power supply to customers with the UK authorities.
Power generation at the sites is however expected to cost more, reports the news publication. The six projects, which are expected to deliver up to 8% of UK’s energy requirements, will do so for a £30bn investment.
Tidal Lagoon Power CEO Mark Shorrock said:"It is admittedly rather expensive to begin with but as time goes on and the capital costs are paid off it becomes incredibly cheap."
