The new telescope, CHEOPS (CHaracterizing ExO PlanetS), will look for fluctuations in brightness of nearby stars to tell if something's orbiting them. It will play a huge part in figuring out the planets' mass and radius - the key variables to determining the planet's internal composition, figuring the kind of resources they can provide and help scientists learn more about how planets form. In particular, CHEOPS will scan nearby solar systems  for planets that resemble Earth - with vegetation, oxygen/ozone in its atmosphere etc. This would help come up with a definitive answer about whether or not extraterrestrial life exists. According to Martin Rees, Britain's Astronomer Royal, we should know in a couple of decades whether or not such a planet exists anywhere near our solar system.