ABIDJAN, Jan. 23 -- Chinese firm, Hanergy Group, will invest in the production of renewable energy in Cote d'Ivoire with plans unveiled for the construction of a plant to produce photovoltaic panels.

The information was announced on Wednesday by Hanergy Group CEO Li Hejun after a meeting with President Alassane Ouattara in Abidjan.

Li said he had discussed with Ouattara about the construction in Cote d'Ivoire of a plant to produce quality photovoltaic panels.

"We shall use a more advanced solar technology," he said, adding that the project will require 500 million U.S. dollars.

Hanergy Group is active in hydroelectricity, wind energy and solar energy.

The company has become one of the biggest producers of solar energy equipment and panels in the world.