Marine Current Turbines (MCT), along with RWE npower renewable, has applied for approval to install a 10MW array of tidal stream turbines off the coast of Wales in 2015.
The tidal power project, to be situated off the north-west coast of Anglesey, will comprise seven twin-rotor turbines across an area of 0.56km².
The project is expected to generate power for over 10,000 homes in the country.
MCT will use its SeaGen technology for the 1.2MW turbines at the site and with planning approval, the project will become the first tidal array in Wales to demonstrate the commercial viability of the technology.
The project is expected to cost about £70m ($112.2m).