West Islay Tidal Energy Park off the south-west Scotland has secured planning consent and will contain 30 turbines.
This tidal park will have a generating capacity of up to 30MW, which is sufficient to power around 18,000 homes.
Located approximately 6km off the south-west coast of Islay, the DP Marine Energy Limited will create up to 32 full-time jobs.
Scottish Government Minister for Business, Innovation and Energy Paul Wheelhouse said: “Marine renewable technologies offer huge potential to the Scottish economy, and to rural communities throughout the world.
“Scotland has a third of UK’s tidal stream resources and two-thirds of its wave resources. We are also home to the world’s leading wave and tidal test centre, the world’s largest planned tidal stream array and the world’s largest tidal turbine.
“The West Islay Tidal Energy Park builds upon this strong foundation. Its 30 turbine array will generate up 30 MW, enough to power almost 18,000 homes, helping us to generate more clean, green electricity in Scotland and to meet our climate change obligations.”
Scottish Renewables senior policy manager Lindsay Roberts said: "Scotland is home to some of the most powerful tidal streams in Europe and already leads the world in the development of the cutting-edge devices, which will allow us to harness their power.
"This announcement shows the continued ambition of this young sector as well as underlining the local employment and economic benefits which renewable energy can bring to some of our country's most remote areas."