An AK-1000 Mark II turbine from the Atlantis Resources Corporation. The company is hoping to lower a similar turbine into the Bay of Fundy. (Government of Nova Scotia)A fourth berth in the Bay of Fundy has been awarded to a U.K.-based company to test a tidal turbine, the government of Nova Scotia announced on Thursday.

Atlantis Resources Corporation is partnering with Irving Shipbuilding and Lockheed Martin to design, build, deploy and monitor the AK-1000 Mark II turbine, one of the world's largest tidal turbines.

The company expects it will cost between $10 million to $15 million to deploy the turbine.

"We need to demonstrate and use Nova Scotia as a platform to show that tidal energy is a predictable source of energy and most importantly it has virtually zero environmental impact," said CEO Tim Cornelius.

Premier Darrell Dexter said the four-way competition would ensure Nova Scotia got the best company to do the job.

"We are working to harness some of the most powerful tides in the world to produce safe, clean, renewable energy for Nova Scotia and through that process develop the expertise, experience and infrastructure to be a resource for tidal energy projects across North America," Dexter said in a news release.

"The momentum for tidal energy from Nova Scotia continues to grow."

Atlantis Resources Corporation, Irving Shipbuilding and Lockheed Martin were one of five bidders for the fourth berth in the Bay of Fundy. They join the three existing berth-holders: Nova Scotia Power in partnership with Ireland-based OpenHydro, Minas Basin Pulp and Power and B.C.-based Clean Current.

The only prototype turbine installed so far — belonging to Nova Scotia Power and OpenHydro — was damaged and pulled out of the Minas Channel in December, one year after it was originally deployed and one year before it was scheduled to come out of the water.

The CEO of OpenHydro said at the time that although the turbine was in good condition, they had underestimated the energy in the Bay of Fundy and all the blades on the turbine had failed.

Atlantic Resources Corporation, Irving Shipbuilding and Lockheed Martin are planning to deploy their one-megawatt turbine in the summer of 2012.

The province said in their press release that at least half of the project will involve local content.

Lockheed Martin, which has 130 full-time employees in Nova Scotia, will be responsible for engineering design elements, production drawings, getting turbine components and systems testing.

Irving Shipbuilding, with more than 1,200 shipyard workers in the province, will oversee construction of the turbine base and assembly of the turbine, along with other local suppliers.

"We are taking on the challenge of building an industry from the water up, in a uniquely Nova Scotian way by using collaboration and innovation to attract the attention of the world, create good jobs and grow the economy," Dexter said.