Yes, the Annapolis station was conceptually very much like a hydroelectric dam generator. When the tide was coming in sluice gates were opened to allow a reservoir to fill, then when the tide was going out the water was sent through a high-speed turbine.

It's unlikely that Nova Scotia will see tidal power again in the near future. There's been some attempts at in-stream generation, but the projects have been opposed by the local fisheries, and the federal regulators don't seem interested in helping define the requirements.