The college said its funding bid was supported by 29 industry partners from across the Humber region.
It currently delivers more than 145 green skills-linked courses, with staff training more than 2,700 learners over the past year, it said.
Gray said: “The opening of Greenwave will be hugely significant, not only for Hull College and learners, but for employers and the wider Humber region.
“Greenwave is a visible demonstration of our commitment to investing in the very best learning environments and ensuring our curriculum continues to evolve alongside industry.
“From entry level through to higher education, learners will be able to develop the knowledge and technical skills employers are looking for now – and will be in the future.”