Administrators Ernst & Young agreed a deal for Siemens to fund an order for 30 wind turbine towers, which are already in place at the factory.
The towers will be installed at Scottish and Southern Energy’s Clyde wind farm in South Lanarkshire, which is set to use Siemens 2.3MW turbines.
Skykon Campbeltown, located in Kintyre, was placed into administration after its parent company Skykon filed for bankruptcy last week.
The Scottish government welcomed the deal to keep the factory open and first minister Alex Salmond visited the site to announce it had been saved.
Scottish government targets are to meet 50% of electricity from renewables by 2020, with an interim goal of 31% by 2011.
Skykon purchased the facility from previous owner Vestas in March 2009.
Skykon Composite Solutions factory in Aaby, Denmark, has been saved after former owner Mogens Marxen purchased the blade component manufacturing facility. Marxen sold the facility to Skykon in 2008.
However, the news comes as police are investigating last week's theft of some production equipment at the factory. The property belonged to client Siemens.