Annual growth rate of renewable energy in India in the last decade has been about 22 percent, said Seetharam, who was earlier this month appointed India's permanent representative to International Renewable Energy Agency (IRENA).
    
India is one of the 21 members of the Abu Dhabi-based IRENA and the current vice-chairman of its council.
    
Seetharam said hydropower, bio-energy and solar energy are other areas that have good potential and sharing experiences and international cooperation is the way forward to tap this potential.
    
"There are plans during the 12th five-year plan (2012-17) to add an additional renewable capacity of 30 GigaWatts. This includes 15 GigaWatts of wind, 10 GigaWatts of solar, 2.7 GigaWatts of biomass and 2.1 GigaWatts of small hydro," Seetharam said.
    
Further, he said that all these require huge investment. According to him, during the 12th five-year plan, the projected investment into renewable is to be four times above the 11th five-year plan.
    
The 11th five-year plan had projected an investment of Rs 892 billion and for the current plan it has gone up to Rs 3,186 billion.
    
Seetharam said that renewable energy solutions are relevant to India as they can be generated in remote areas that are difficult to access from the central grid. Renewable energy allows you to produce energy where it is consumed even in remote areas where you can have wind, solar or biogas.
    
India recently became the 19th member to designate a permanent representative to IRENA, an intergovernmental organization that supports countries in their transition to a sustainable energy future, and serves as the principal platform for international cooperation.
    
IRENA promotes the widespread adoption and sustainable use of all forms of renewable energy in the pursuit of sustainable development.

Latest News  from Business News Desk