According to the Russian Wind Industry Association (RAWI), the deal covers plans to set up a blade-manufacturing site in the region, with the potential to expand further.
Vestas is in line to win 1GW in orders from Finnish developer Fortum and its joint venture partner, energy group Rusnano, which won the majority of capacity in a 1.65GW tender in June.
The Fortum-Rusnano JV will deliver 26 projects between 2018 and 2022, securing €115-€135/MWh in capacity payments.
General director of the Ulyanovsk Region Development Corporation, Sergey Vasin, said, according to RAWI: "Vestas is also planning to launch training programmes to facilitate the skill and knowledge transfer necessary to set up local production. The programmes will be developed together with Ulyanovsk educational institutions."