Wavegarden Scotland wants to turn Craigpark Quarry pit near Ratho into a huge lake with a machine recreating waves for any level of surfer.
The planned site lies across from the Edinburgh International Climbing Arena.
The developers said they expected to create more than 80 jobs.
Andy Hadden, co-founder of Tartan Leisure Ltd, said: "Wavegarden Scotland is a thrilling new concept in the adventure leisure industry.  If approved, it could position Scotland as a leading surfing destination as the country already has some world-class natural breaks.
"We've received fantastic feedback on our plans to date and we look forward to sharing them with the local community."
Gavin Barrie, convener of City of Edinburgh Council's economic committee, said: "The Wavegarden Scotland project appears an exciting addition to active participant sport in the Edinburgh area.
"Anything that encourages people, whether young or old, to lead an active lifestyle and enjoy all the benefits that come with it is likely to garner support across the city.
"Hopefully others will share my enthusiasm for development."
William Watson, president of the Scottish Surfing Federation added: "We fully support this fantastic project and will continue to work with Tartan Leisure Ltd to ensure it fits with the best interests of Scottish surfing."
The public consultations will be held between 15:30 and 19:30 on Wednesday at the Edinburgh International Climbing Arena, and next Monday between 14:30 and 19:30 at Ratho Library.
Plans for a multi-million pound artificial surfing lake on the outskirts of Edinburgh are to be unveiled at a series of public consultation events.