Submitted under the Planning Act 2008, the application will be reviewed by the Planning Inspectorate prior to public examination.
Then the Secretary of State for Energy & Climate Change will determine the application, which has been prepared after three years of feasibility work and impact assessments.
Swansea Bay Tidal Lagoon, which is claimed to be the largest tidal power plant in the world, will see the construction of a 9.5km long sea wall to capture enough renewable energy from incoming and outgoing tides.
The project, which is aimed at sourcing at least 65% of content in the UK, starting a new manufacturing industry and future export market, will generate enough electricity to power over 120,000 homes for 120 years.
Tidal Lagoon Power CEO Mark Shorrock said the submission of the application is a turning point in the development of tidal resource in the UK.
"Tidal lagoons offer renewable energy at nuclear scale and thus the investment of hundreds of millions of pounds in UK industries and coastal communities.
"Our intention is to supply 10% of the UK’s domestic electricity by building at least five full-scale tidal lagoons in UK waters by 2023, before the UK sees any generation from new nuclear.
"Economies of scale bring immediate advantage. A second lagoon will require a lower level of support than offshore wind, for a renewable power supply that is both long-lived and certain.
"A third lagoon will be competitive with the support received by new nuclear, but comes without the decommissioning costs and safety concerns," added Shorrock.
Image: Tidal Lagoon Power to develop Swansea Bay power plant in the UK. Photo: courtesy of Tidal Lagoon Power.
