Chile banks on new energy to attract fresh investment

Chile plans to raise its renewable energy use from 6 percent now to 20 percent of total energy use by 2025, which will mean investment opportunities for Chinese companies that possess capital and technology, the president of the South American country said on Monday in Beijing.

Michelle Bachelet said that China has been a very important investor for Chile and the technology the country has in nuclear, wind and solar power generation has significant role to play for her country's development.

"We are working on making Chile more attractive for foreign investors," she said.