Chinese group to invest 400 mln euro in wind industry

Romanian Paunescu Corporation and Chinese company Ming Yang Wind Power Group concluded an investment contract concerning wind farms and export equipment. The document was signed yesterday at Victoria Palace and according to Bobby Paunescu, the Romanian company’s president, this agreement is related to a 400 million euro investment, Agerpres informs.

The future wind park that will be located in Valsui-Husi area is designed to have a capacity of 200MW and is projected to be finalized within the next 11 months. While the Chinese group assures the financing, the Romanian party assures the infrastructure aspects.

Paunescu also stated that the partnership will be extended in the agriculture area, targeting sectors such as biomass production and livestock.

The signing of the agreement between Romanian Paunescu Corporation and Ming Yang Wind Power Group  was included on the agenda Romanian and Chinese governments had in connection with the signing of several documents concerning the bilateral cooperation in energy, agriculture, economy, IT and culture spheres.