The local authority has approved a planning application for a test turbine to establish whether the site is suitable for three 100m high turbines.
If the proposal were to go ahead, it would generate 9MW and any income would be channelled into council services.
Councillor Robert Boswell, cabinet member for the environment said: “As a council we are committed to this project and serious about renewable energy.
“If successful this wind project will not only create an income stream for Preston and its residents but it will create economic opportunities for the city and provide green electricity.
“We hope that the 80m temporary test mast will yield good results in terms of wind speeds and feasibility.
“It might take up to a year before we know we have the right location but this is a long term commitment and one the Council is keen to invest in for the considerable benefits that it will bring.”