The "Energy 2050" plan was signed by President Bachelet and other members of the Chilean government. Image: Ministry of National Assets of Chile

Michelle Bachelet, President of Chile, has signed off on a new energy strategy for the South American country, which sets a goal of generating 70% of national electricity generation from renewable sources by 2050.

The new mission, titled “Energy 2050,” was signed by President Bachelet and other top members of the Chilean government, including Minister of Energy Maximo Pacheco and Interior Minister Jorge Burgos.

Bachelet said: "Chile is a mature country, with capacity to confront great challenges and meet the challenges we can and make the necessary changes so that the country can emerge stronger. As a government we must act ... and do what it takes to have a better future tomorrow today.”

The inception of Energy 2050 stands as the result of a partnership between President Bachelet and the Energy Agenda — launched in May 2014 in order to develop a shared vision for the future development of the renewable-energy market.

Tags: chile, energy 2050