The Blackpool-based energy-from-crops company is holding a public consultation for its third proposed facility in Cumbria.
Farmgen, which has embarked on a £30m investment drive nationwide, is due to submit a planning application to Eden District Council for a farm-based anaerobic digestion plant at High Head Farm in Ivegill.
The Farmgen team, which is actively looking for more potential sites in Cumbria and across the north of England, has been working on the £3m Ivegill plant for more than a year with farm owner Jonathan Stamper.
Stamper said: "This is a good example of farm diversification and providing a sustainable incremental income to help keep the farm commercially viable.
"Crops to power the plant would be supplied locally and the scheme will provide a boost to the rural economy."
The plans follow proposals for a similar development at Murray House Farm in Cumwhinton, as well as the Farmgen's first AD plant currently under construction at Dryholme Farm, near Silloth.
The Dryholme plant is scheduled to go live later this year, which will produce enough energy to power more than 1,000 homes.
Farmgen was founded in 2009 and its board includes Simon Rigby, former boss of utilities company Spice, who farms 2,000 acres across the North West.
Rigby netted a £22m windfall last year when Spice was sold to private equity investors Cinven for £251m and is backing Farmgen's plan to set up AD plants on farms across the UK.
The open day at High Head Farm is being held on Thursday 3 March between 11am and 3pm. Farmgen said the day is aimed at interested farmers and local residents, who can see and comment on the plans for the site. For more details call 01253 600 800.