BLRT is active in involved in sectors such as shipbuilding and metal construction, and is present in countries around the Baltic including Norway, Poland, Ukraine and Finland.
Speaking about the MOU, BLRT assistant chairman Kristina Arutjunova said: "For our holding it is a good chance to strengthen our position on the renewable-energy market.
"Our holding has significant experience in production of complex steel constructions for the offshore wind energy market. Together with Gamesa we will explore additional opportunities such as establishing an onshore tower manufacturing facility."
Gamesa Northern Europe chairman Dirk Matthys said Gamesa was focused on expanding into the Baltic region.
Although the bulk of Europe's offshore turbines are in the North Sea, a number of Baltic states are looking at offshore development.
Changes to Poland's maritime law have delivered a big boost to offshore wind development. The country's offshore project pipeline more than doubled in the past two months from 1.7GW to 3.8GW.
Gamesa is currently designing two offshore turbines. The G11X 5MW turbine, which is under development in Virginia, and the G14X 6-7MW machine, which is set for 2014.