Currently being tested in the Clarence River at Maclean in northern NSW by Country Energy the system was designed by Mick Perry, 42, a former auto-electrician and tuna fisherman.

With currents running as little as 2.5 knots rotating aquafoils on the generator, which is 57ms across and nine metres high, to produce around one megawatt of electricity - enough to power 600-700 households daily.

Perry’s production company, Atlantis Energy, is reportedly already in talks with island communities, including Lord Howe, which depend on the more expensive diesel-powered generators or wind power.

Electricity from ocean current generators costs more than power from coal-fired grids and about the same as wind-powered energy. However, the cost is about one-sixth that of diesel-powered systems.

Perry said the company is aiming to have up to 25 units in production in the next five years.