A NORTH Wales tidal lagoon will create more than 20,000 jobs and result in a cash boost for the region.

The lagoon will also create enough electricity to power every home in Wales for 100 years, generate more than £11billion for the regional economy and pump 2.5 gigawatts of electricity into the National Grid every year.

The conclusions are part of a specially commissioned report from Glyndwr University into the potential economic impact of a scheme on the coast from Llandudno eastwards to Talacre, near Prestatyn.

It is estimated the lagoon could be built and be generating power within 10 years. As well as providing electricity to power homes, it will also safeguard homes, businesses and infrastructure along the North Wales coast from flooding.

The report was commissioned by the North Wales Tidal Energy (NWTE), the group leading the project, to carry out a study into the feasibility and the economic benefits of the £7 billion tidal lagoon scheme.

Henry Dixon, NWTE chairman, said: "The tide rises twice a day and is completely reliable.

"The proposed tidal lagoon will generate power for at least 100 years and will be future-proofed to ensure that it continues to provide coastal protection and efficient renewable energy generation throughout its long life.

"We have had widespread political support from local MPs and AMs of all parties and it really does seem to be a ‘no-brainer’ that it should be built.

“A North Wales tidal lagoon, not many miles from the tidal stream development areas off Anglesey will position North Wales as a global leader in marine renewable energy.

"NWTE’s by-line is ‘By North Wales. For North Wales’ and we would make every effort to ensure that local and regional professional services, construction, transport and manufacturing industries are involved in the development of this huge project," he added.

"Protected waters would provide a fantastic environment for water sports and aquaculture, while locks will ensure that boats and fishing vessels can continue to go out into Liverpool Bay.

“The lagoon will boost tourism and create jobs in that sector for years after the project is completed.”

The report estimates that the initial stages of the project would take five years to complete with necessary plans being drawn up and approved and licenses obtained before the construction stages begin.

The second part of the construction stage is expected to take about six years and create more than 15,000 jobs in construction alone.

Chris Ruane, MP for Vale of Clwyd - who constituency sits at the Eastern edge of the proposed lagoon - said: "We have a huge opportunity here in Wales to become a world leader in tidal technology and it is exciting to think that North Wales could be at the forefront.

“Not only is tidal energy better for the environment, it can bring highly skilled jobs to the North Wales coast while also providing additional improvements to flood defences."

Darren Millar, AM for Clwyd West, added: "Not only would such a project help to meet Wales’ future energy needs and offer flood protection for thousands of homes and businesses, but it would also provide a huge economic boost to the region with tens of thousands of jobs being created both during the construction phase and afterwards as a result of new marine leisure and sea farming opportunities."