UP TO 300 jobs could be created at a business park off Hedon Road.
The Burma Drive site already hosts a range of companies.
However, the owner, the Homes and Communities Agency (HCA), believes there is room for expansion.
It is investing £1.6m to extend an internal road, opening 8.74 acres of land for up to seven tenants.
Burma Drive is close to Alexandra Dock, where Siemens is building its offshore wind facility, and the aim is to attract smaller green energy suppliers.
Rob Pearson, HCA head of area, said: "The success of the first phase shows there's a demand for small plots here.
"Our experience in other locations is the downstream industries that support the bigger players are hopefully going to be attracted to a site such as Burma Drive.
"We're opening up land for a future, we hope, about 300 jobs."
Work at the site should be finished by the end of March and interested businesses can contact the owners now.
Hull City Council leader Steve Brady and Humber Local Enterprise Partnership chair Lord Haskins have visited the site.
Cllr Brady said: "We can't pick and choose businesses coming here but we would hope they would be associated with green energy and any company associated with that opportunity would be fantastic.
"It's another great opportunity for people to come and invest in Hull.
"We've got huge interest right across Hull and the East Riding for investment and development, and I don't think there's been a time in recent history with the amount of optimism there is across the area now."
Siemens' biggest suppliers for its £310m Green Port Hull facility are likely to set up on land owned by dock operator Associated British Ports.
The company has set aside about 600 acres of land in Hedon for development and multinational energy businesses coming to the region are expected to look at that first.
Korean turbine tower maker CS Wind is one of those tipped for a move there.
However, Lord Haskins stressed as much land as possible would be needed for the new industry.
He said: "The problem we have here is having enough land to do what we need to do.
"We've got a plan for the whole estuary – now we've got to realise that.
"The supply chain is going to be complicated and multitudinous and we don't know how it's going to develop."
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