Romanian investor Bobby Paunescu (in picture), known for his investments in local media and in international film production, has signed a partnership contract with a Chinese firm for a USD 400 million wind farm to be built in Romania.

Paunescu, who owns Romanian Păunescu Corporation, signed an agreement with Ming Yang Wind Power Group, under which a USD 400 million wind farm will be built in the Vaslui-Huşi area, in North – Eastern Romania.

The Romanian firm will take care of the project's infrastructure, while the Chinese company will invest the majority of the amount required to get the project running. According to Paunescu, the project will create 1,300 new jobs. The partnership will then expand into agriculture, with the first targets including raising stock and biomass production.

The Romanian businessman, who owns the Mandragora and Solar Pictures film production companies, said the partnership was helped by the recognition the films he produced received in China, some winning awards there.

Paunescu also owns a publishing company that runs the Evenimentul Zilei daily and the business weekly Capital, which he bought from Ringier. He also owns  Curierul Național, Gazeta de sud, Gazeta de Olt, and the TV station B1 TV.

editor@romania-insider.com