Gamesa is set to open a new research and development centre for the offshore wind industry at Strathclyde Business Park and are to open a factory making the turbines in either Dundee or Hartlepool.
It said a number of factors would affect its decision including the right port facilities which would enable them in the future to expand.
Gamesa's chairman and chief executive Jorge Calvet, was in Scotland for the Scottish Low Carbon Investment Conference in Edinburgh and for the official opening of the company's research and development centre near Glasgow.
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A decision will be made by the end of October.
The £12.5m facility employs 40 engineers, and this number is set to increase to 120.
Meanwhile, the University of Strathclyde has announced that it has forged a four-year research expertise partnership with the firm.
Principal of the University of Strathclyde, Professor Jim McDonald, said: "Today's announcement reflects Scotland's position as a key player in the wind energy sector.
"With vast natural resources, and world-class research and education, we are ideally placed to support this fast-growing industry and maximise the returns from investment and development."
The news comes after proposals to create wind farms at various sites across Scotland, the most recent for Wigtownshire, were rejected.
Plans are usually rejected due to concerns over their potential to cause an "adverse impact" on the landscape.
(JG)
