DUCK Reach Historical Group president Shane Dennington hopes to have an educational centre "up and running" at the site's current facility by next March, to coincide with the 120th anniversary of the power station being completed.
While details of the project are still to be refined, Mr Dennington is confident in his plan, which includes recruiting volunteers and installing a projector.
"There's a lot more we could show people about this place," he said.
The education centre remains the historical group's first priority, but Mr Dennington said there are still plans for the power station to be reopened.
"Not many people know this, but Launceston was the first city to be lit by hydro power and at the time it was called the best lit city in Australasia," he said.
"In 1911, the power station powered the trams in Launceston, but Melbourne was still using horsedrawn carriage.
"I hope by March next year we would have something up and running and ready to go."
Mr Dennington will meet with the Launceston City Council later this year to discuss the plans.