A company is in the process of being created in North Devon to mastermind the construction of a huge under-sea power plant which could supply electricity to around 200,000 homes.Behind the project is Tim Cox, the renewable energy advisor to Trans-Send, the sustainable living company based in Ilfracombe.He wants to form a consortium including Ilfracombe Community Alliance, the South West Regional Development Agency, Regen South West, the renewable energy agency, turbine manufacturers and a major power company to get the \u00A3200 million scheme off the ground.He envisages a "farm" of hundreds of tidal current turbines planted in rows on the sea bed in the Bristol Channel between Bull Point and Foreland Point. He believes the electricity generation scheme would carry more support than one to build a barrage across the Taw-Torridge estuary."A sea floor tidal turbine system will not suffer the objections that large onshore wind turbines do and will have positive environmental and shipping impacts compared to barrages," Mr Cox said."The installation of a large number of turbines off Ilfracombe would create jobs with support services being based in the harbour."The cable from the sea bed "farm" would come ashore at Larkstone Cove and be connected to the national grid via South West Water's nearby installation.Mr Cox estimated that the turbines could give an income of up to \u00A380 million a year."If Ilfracombe Alliance CIC, as a project partner owning the shore side switch gear, could charge a royalty of one per cent, we could have an income stream of around \u00A375,000 a year for an outlay of approximately \u00A3250,000." Mr Cox said.