The funding will be drawn from the Marine Energy Array Demonstrator (MEAD) scheme, which is part of a £185 million funding pot that the UK government intends to invest in low-carbon technologies.
Other funders of the £51 million tidal project include the Scottish government and The Crown Estate.
Ahead of Scotland’s referendum on independence next month UK energy secretary Ed Davey said the project “shows what can be done when the UK and Scottish Governments work together”.
“This innovative and exciting project puts Scotland and the UK on the map as a global leader in marine technology – meaning jobs, better energy security and the potential to export this technology to the world,” Davey added.