Santiago, Dec 31 (IANS): Chile has adopted a new energy policy to tap renewable sources of energy as an engine for national development.

The new national plan "Energy 2050" is aimed at reducing energy blackouts. It will allow all Chileans access to electricity and ensure that 70 percent of Chile's energy supply comes from renewable sources by 2050, Xinhua news agency reported.

It would "build a shared vision for the future development of our energy sector with the social, political and technical support needed to transform it into the energy policy that Chile needs", said Maximo Pacheco, the country's energy minister on Wednesday.

"Energy 2050" set targets that power cuts should not surpass four hours a year by 2035 and one hour a year by 2050, ensuring the universal and equal access to modern and reliable energy services.

It also expected to make Chile among the three countries with the cheapest energy bills when the policy expires.