There's serious concern for the world-first tidal lagoon in Swansea after it's believed the company behind the project could go out of business within months.
Tidal Lagoon Swansea Bay have been forced to lay-off a fifth of its 100-strong work force after failing to agree a strike price for the energy the tidal lagoon would create.
It's also thought hundreds of local people in Swansea could be set to lose out on investments after the company raised £22m through a share scheme to pay for the planning application.
If the lagoon's development was to be scrapped planned lagoons for Cardiff, Newport and Colwyn Bay would also be likely to be shelved.
But Member of Parliament Byron Davies says talks between the company and the government are still on-going.
Representatives from Swansea Council are in London today to showcase plans for a £500m re-development of the city centre.
Iconic buildings and sites such as the Civic Centre have been placed on the market in the hope developers will invest in what is described as a 'the best chance in a generation' to regenerate the city centre.
Today the public will get the first view of fly-through designs that architects say will 're-link' Swansea city centre to the sea, as part of ambitious plans to turn the city into the financial capital of Wales.
One of the largest unions in Wales, Unite, has thrown its weight behind proposals to bring a tidal lagoon to Swansea Bay.
The £800m project could provide electricity for thousands of homes in Wales.
It's expected to be completed by 2018.
The union understands the project will create over 1900 full time jobs during the construction phase, with further jobs becoming available post construction.
You can see more on this story on Coast and Country tonight on ITV Cymru Wales at 8pm.
Plans for a massive tidal lagoon in Swansea Bay, able to generate electricity for over 120,000 homes, have been submitted to planners.
Developers behind the lagoon say if the project is successful, up to five other lagoons could be built along the Welsh coastline within the next decade.
Friends of the Earth Cymru have issued a cautious welcome to the Swansea Bay Tidal Lagoon project, which is submitting its planning application today.
The submission of a planning application today for a tidal lagoon in Swansea Bay marks a "major step" towards realising one of the UK's "most game-changing infrastructure projects", according to the CEO of Tidal Lagoon Power, Mark Shorrock.
The project would see a 9.5 km long sea wall built to capture enough renewable energy from incoming and outgoing tides to power over 120,000 homes for 120 years
The planning application for a tidal lagoon in Swansea Bay will be submitted today, which has been developed through "extensive consultation" over the last three years.
It will now be reviewed by the Planning Inspectorate before public examination and then determined by the Secretary of State for Energy and Climate Change. Natural Resources Wales will consider an application for the marine license that is required.
The project would see a 9.5 km long sea wall built to capture enough renewable energy from incoming and outgoing tides to power over 120,000 homes for 120 years.
Tidal Lagoon Power Limited has spent millions of pounds over the last three years developing its proof-of-concept project, alongside a consortium of internationally-renowned industrial businesses.
A new report says the development of a tidal lagoon in Swansea Bay could create nearly 2,000 jobs and bring £300m to the local economy.
But, concerns have been raised about the plans, with some locals questioning the environmental and visual impact the structure will have on the bay.
Tidal Lagoon Swansea Bay Ltd, the company behind the development, say the earliest work could start on the construction is 2015, should the UK Government give it the green light.