The project, which is proposed to have four lagoons in Wales and two in England, is expected to generate 8% of the UK’s electricity for the next 120 years.
The company has already submitted a planning application for the £1bn Swansea Bay Tidal Lagoon hydropower project in Wales.
The project will be built in the Severn Estuary, which has the second highest tidal range in the world.
The plant will supply renewable power for more than 155,000 homes and reduce over 236,000 tons of CO2 emissions per year.
Apart from Swansea, the company is planning to build other projects in Cardiff, Colwyn Bay, and Newport in Wales; Bridgwater in Somerset; and West Cumbria.
UK Energy Secretary Ed Davey told BBC News, "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."
Tidal Lagoon Power CEO Mark Shorrock was quoted by the news agency as saying, "We have a wonderful opportunity to create energy from the dance between the moon and the earth.
"It is admittedly rather expensive to begin with but as time goes on and the capital costs are paid off it becomes incredibly cheap."
The firm is currently in talks with the UK government on power price. It has reportedly submitted a request for £168/MWh for the Swansea lagoon and £90-£95/MWh for a second lagoon in Cardiff, Wales.
