A rotor surrounding a round kite or above all a balloon (sketch below) would be a little like this wind turbine, the balloon replacing the big central hole:
The balloon itself could perhaps be a problem, limiting the wind force on the blades.
Also, about the large annular generator (perhaps unless wheels are used for generators in rim drive style):
I would add that a second counter-rotating rotor would be required, leading to more material, more weight:
To summarize, to say that the solutions presented by myself on this topic are unlikely is an understatement.