Multi billion pound plans for capturing marine energy are to be constructed off the coast of Scotland.
The Scottish Government and the Crown Estate are to work together on ten schemes costing £5 billion in total.
The marine energy which will be captured by these projects is predicted to reach a staggering 1.2 gigawatts; enough to power 750,000 households.
Scottish first minister Alex Salmond said that the waters around Scotland are a huge untapped resource. "These waters have been described as the Saudi Arabia of marine power and the wave and tidal projects unveiled today, exceeding the initial700MW target capacity, underline the rich natural resources of the waters of Scotland."
The schemes are due to be in operation by 2020 off the cost of the Orkney Islands and mark the first commercial wave and tidal power schemes anywhere in the world.
Roger Bright, Crown Estate chief executive, stated: "The 1.2GW of installed capacity proposed by the wave and tidal energy developers for 2020 shows the world that marine energy can produce meaningful amounts of electricity and offers a real alternative to conventional power production.
"The long term prospects for this growing industry are exceptionally bright, with vast amounts of untapped energy in the seas all around the UK. It will create new businesses and jobs as well as attracting inward investment."
Energy companies developing schemes include: E.ON, Scottish and Southern Energy (SSE) Renewables and Scottish Power Renewables.
First Minister Alex Slamond said, "The Scottish government is working with the Crown Estate, developers and key partners to support this rapidly-growing industry, to ensure communities such as those in Caithness and Orkney are well-placed to reap the benefits and to secure Scotland's position as the green energy powerhouse of Europe."
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