The agreement is for Vestas to advise Methanex on building wind projects around its global facilities, specifically the Magallanes region of southern Chile.
In 2010, Methanex installed three Vestas V-52 turbines to help power its plant in Cabo Negro, in Magallanes.
Methanex general manager Paul Schiodz said: "The success of our wind energy farm in Magallanes demonstrates the role that wind energy can play in the regional energy matrix.
"The agreement with Vestas should contribute to establish a robust regulatory framework to incentivise wind energy in the region.
With natural gas prices expected to increase there has been speculation Methanex would look to increase its presence in the wind sector.
Speaking to Windpower Monthly last year, Jorge Michela, senior project engineer at Methanex, said that rising gas prices were a crucial factor in the company’s switch to wind.
"That was the main trigger," he says. "If there was no natural gas problem it would have been very difficult for Methanex to be interested."