3 Energy Storage System Stocks to Add to Your Long-Term Watchlist

Energy storage is a theme that has come in to the limelight on Dalal Street. This is because energy storage solutions are critical to accelerate the transition to renewable energy.

Renewable energy sources like solar and wind are intermittent. Thus, these sources cannot consistently meet demand.

Energy storage - especially battery technology - enables storing excess energy when production is high and releasing it when demand peaks or renewable generation is low.

This capability enhances grid stability, supports peak demand management, and provides ancillary services essential for a reliable power supply.

Stocks catering to energy storage systems are in demand among investors.

Here are three such stocks that you can add to your watchlist.

#1 Adani Green Energy

First on our list is Adani Green Energy.

Adani Green Energy is India's largest renewable energy company. It recently achieved a significant milestone by surpassing 15,000 megawatts (mw) of operational capacity, specifically 15,539.9 MW.

Adani Green Financial Snapshot (FY21-25)

(Rs m, consolidated)	FY21	FY22	FY 23	FY 24	FY 25
Net Sales	31,240	51,330	77,760	92,200	112,120
Net Profit	1,820	4,890	9,730	12,600	20,010
Return on Equity (%)	21.1	41.1	16.5	18.3	23.9
Return on Capital Employed (%)	10.5	7.0	8.7	13.8	10.4

The company has done well on the financial front with sales growing at 29.8% CAGR in last 3-years and profits growing at 60% in the same period.

Adani Green Energy has diversified its portfolio to include energy storage solutions in addition to its existing solar, wind, and hybrid projects.

It was recently awarded a project from the Uttar Pradesh Power Corporation for 1,250 MW energy storage capacity from pumped hydro storage projects (PSP). The project, Panaura PSP, has a minimum commitment for 40 years.

Adani Green has firm plans to add over 5 GW hydro PSP capacity by 2030. The company has already commenced the construction of its hydro pumped storage projects of 500 MW at Chitravathi river, in Andhra Pradesh, 1,500 MW at Tarali in Maharashtra and 1,800 MW at Gandikota in Andhra Pradesh.

To know more check the Adani Green Energy fact sheet and latest quarterly results.

#2 JSW Energy

Second on our list is JSW Energy.

JSW Energy is a leading Indian private sector power producer. The company has presence across the value chains of power sector with diversified assets in power generation and transmission.

JSW Energy Financial Snapshot (FY21-25)

(Rs m, consolidated)	FY21	FY22	FY 23	FY 24	FY 25
Net Sales	69,222	81,672	103,318	114,859	117,454
Net Profit	8,227	17,435	14,801	17,247	19,829
Return on Equity (%)	5.7	10.0	8.0	8.3	7.3
Return on Capital Employed (%)	9.3	12.4	7.4	8.7	6.2

The company has reported a revenue growth of 12.9% CAGR over the last three-years, while the net profit CAGR was 4.4%.

JSW Energy is making significant strides in the energy storage business as part of its broader clean energy transition strategy.

The company currently has 29.3 GWh of locked-in energy storage capacity, primarily through hydro pumped storage projects (26.4 GWh) and battery energy storage systems (2.9 GWh), with plans to expand this to 40 GWh by FY30.

It's subsidiary, JSW Renew Energy, has signed a 12-year Battery Energy Storage Power Purchase Agreement (BESPA) with Rajasthan's RVUNL for a 250 MW/500 MWh battery storage system.

The company has also received a letter of award for a 500 MW battery storage system from SECI.

To know more check the JSW Energy's fact sheet and latest quarterly results.

#3 Oriana Power

Third on our list is Oriana Power.

Oriana Power is a prominent Indian renewable energy firm, which is developing a good presence in energy storage.

Oriana Power Financial Snapshot (FY21-24)

(Rs m, consolidated)	FY21	FY22	FY 23	FY 24
Net Sales	308	1,240	1,347	3,829
Net Profit	10	69	106	543
Return on Equity (%)	19.3	45.3	33.3	37.1
Return on Capital Employed (%)	15.9	35.0	21.9	29.3

The company has done well on the financial front. The compounded sales growth was 131.7% in last three years. The net profit growth in the last three years has been a whopping 276.3%.

It's debt to equity ratio has also been going down steadily over the years.

The company is moving at a brisk pace as far as energy storage is concerned. In July 2025, the company bagged significant energy storage orders.

Its subsidiary, Truere Knight signed BESPA with Rajasthan Rajya Vidyut Utpadan Nigam for setting up of 50 mw/100 MWh standalone battery energy storage systems. The project will be executed under the build-own-operate model.

Oriana Power has also received a project from NTPC Vidyut Vyapar Nigam for setting up 125 MW/ 50 MWh standalone BESS. Both of these orders are significant for the company's growth.

To know more check the Oriana Power fact sheet.

Conclusion

The demand for energy storage is upbeat and so it is for companies in the sector. As renewables grow, energy storage becomes essential for grid stability, peak load management, and reliable power supply, creating strong growth opportunities for companies in this space.

The government backing for the sector also boosts industry confidence, making energy storage stocks more promising.

Investors should evaluate the company's fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...