Neptune Wind has said it would apply to build a 500MW wind farm about 20 nautical miles south of the border between Rhode Island and Massachusetts.
The company is relatively new to the wind industry. According to its site, on February this year it was only given the licence to hold a site on the outer continental shelf.
Neptune is headed by CEO Chuck Digate, who has a background in the computer industry. His previous role was with the New England Clean Energy Council.
Neptune's bid could put it up against Deepwater Wind, which is currently developing its 28.8MW demonstration project off of Block Island. Deepwater eventually aims to build a 1GW project off Rhode Island.
A tender process would be initiated if more than one company was deemed capable of developing the site.
Speaking about the possibility of a rival bid, Deepwater Wind chief administrative officer Jeff Grybowski said he was confident Deepwater would come out on top.
"We are very confident that we will win a competition regardless of who else bids. We've invested a great deal of money in Rhode Island and in this project and have built up a very strong team."
Developers have until 3 October to submit their proposals.