The company has issued a tender for the design and construction of the facility, which will be located between the Kings and Queens Dock.
The plant will receive major turbine components from manufacturers across the UK, with all machining and pre-assembly of the sixteen 7.2 metre runner diameter turbines taking place on site.
Up to 100 workers will be employed by the facility, with an additional 150 project workers accommodated in an onsite office welfare area.
The Swansea Bay Tidal Lagoon project is yet to receive Government backing and a review is underway on potential tidal lagoon energy schemes in Britain.
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As well as issuing a tender for the £22m manufacturing facility, Tidal Lagoon Power has launched a report which sets out the benefits of the tidal lagoon energy sector for Britain.
The 'Ours to Own' study states the UK's engineering, construction, steel and manufacturing industries will benefit from over £800m worth of contracts, including over £6 billion for the project to employ its Swansea Bay template at full-scale at Cardiff.
In addition, the report suggests a potential £17bn could be invested for domestic 'Made in Britain' lagoon turbines and generators, including £24bn from tidal lagoon turbine housings. A further £30bn could be generated from exports to the international tidal lagoon market.
Mark Shorrock, Tidal Lagoon Power's chief executive, said: "180 years ago Brunel built the Great Western Railway and we still celebrate that British manufacturing and engineering success today. A roll out of tidal lagoons will be of equally significant scale and will also benefit our country for over a century."
Roger Evans MBE, Chair of the independent Tidal Lagoon Industry Advisory Group, added: "We have the natural resource, we need the power and we have the manufacturing skills to take on the challenge ourselves. A huge domestic market creates the ideal conditions for standardisation and mass manufacture, giving the UK a competitive edge on the world stage."
(LM/CD)
