German-based EnergieKontor UK Ltd hopes to build 24 giant wind turbines on the moors between Oswaldtwistle and Haslingden.
The company has begun a consultation process with local councils and residents about the proposals.
Soon they hope to start detailed measurements of the wind on the site. To do this they will build a meteorological mast which will collect data.
As well as measuring the velocity of the wind and discovering if the moors are suitable for a wind farm, it is also hoped the data will help with future designs of the site.
Project manager for Energie-Kontor UK Ltd Judith Cornfield said the company thinks there was the potential to build turbines with a height of up to 130 metres. She said a planning application will be submitted shortly to built the test mast.
There has been early opposition to the plans, Hynd-burn MP Greg Pope said: "I know this area very well and I don't fancy seeing it ruined by wind farms.
"The best places for windfarms are offshore, they're the windiest places and don't spoil the countryside."