News has been revealed of plans to create six tidal lagoons across the UK, including two benefiting Newport - one of which we exclusively revealed in last week's Business Argus.

Tidal Lagoon Power has submitted an Environmental Impact Assessment report for a tidal lagoon between Cardiff and Newport, which looks to be six times bigger than the proposed project in Swansea.

As well as the Cardiff proposals, the company also confirmed that early work is underway relating to the delivery of a separate full-scale UK tidal lagoon at Newport, which would also harness the power of the Severn Estuary.

So we decided to ask the local business community what they thought of the ideas...

Clive Thomas, managing partner at Watkins & Gunn Solicitors

I am very much in favour of clean future energy sources. Whether the tidal lagoon will be a good thing for Newport will depend on the outcome of the detailed survey of the environmental impact of such a scheme and whether it will create sustainable local jobs. I understand that further feasibility studies are now to be carried out and I will follow the outcome with great interest.

Douglas Haig, member of Cwmbran Landlord Forum and vice chairman and director for Wales of the Residential Landlord Association

It is essential that lagoons and barrages become part of the UK energy strategy, especially as it provides a regular source of energy at predictable times. The area around South Wales has some of the highest tidal ranges in the world and it is an opportunity for us to become a world leader in the technology and its implementation. It would be an excellent source of jobs, an attraction to Newport, as well as put it on the map nationally and possibly internationally. It would also help reduce flood risks and make the area more attractive at low tide. Ultimately, any lagoon must be installed with the environment in mind and not result in the proposal for the barrage to be put at risk. With the potential of nearly five per cent of the UK energy output to be generated by it and the attraction of investment and transport connections to South Wales; this should be our priority.

Siobhan Mail, director, Seer Green, Newport

This a superb prospect for Newport and the wider region. The tidal lagoon will bring hundreds of short to medium term jobs, across a range of skills and also extensive long-term employment. There will be tremendous opportunities for the supply chain serving both the construction and development stage, as well as ongoing prospects. It appears that the first one being built in Swansea has attracted an impressive level of support across all Swansea communities and we would expect this next tidal lagoon, which will be larger than the one in Swansea, to receive just the same level of support from the people, businesses and communities here in Newport. This is such an exciting prospect for the area.

We’re behind any project that will serve to enhance Newport and its surrounding communities, and the tidal lagoon would certainly bring with it a number of economic benefits including employment and leisure opportunities.

Andrew Lewis, CEO, Monmouthshire Building Society, Newport

Sourcing renewable energy locally would be a fantastic coup for Newport and help to lessen the UK’s dependence on fossil fuels, but we share Gwent Wildlife Trust’s concerns about the potentially catastrophic impact to wildlife. The Severn Estuary is designated as a site of international importance for coastal and marine biodiversity, and any measure that is sold to the public for its ‘green’ credentials can’t pick and choose what it means to be environmentally friendly.

Lewis Fawsitt, Acorn, Newport

The prospect of the tidal lagoon coming to Newport is a fantastic one and should be hugely welcomed. The initial scheme in Swansea will bring circa £1billion investment to the city and create thousands of much needed sustainable jobs, many for local people. The proposed development for Newport is larger again, so should offer greater levels of investment and more jobs, both directly, and within the supply chain, which will help to reinvigorate Newport and its existing industries as well as presenting tremendous new opportunities. This is a very real opportunity for Newport and the surrounding Capital region to benefit and be at the forefront globally of this pioneering industry. It's noted that the company leading this project has made a real commitment to ensuring at least 50 per cent of the supply chain is in Wales.