The government has revised its Battery Energy Storage Systems (BESS) target to 13,200 MWh under the Viability Gap Funding (VGF) scheme, up from 4,000 MWh, aiming for completion by 2027-28 as per sources.
The Rs. 3,760 crore budget to support the higher capacity due to falling storage costs. The capacity is split into three components such as 2,200 MWh for NTPC Vidyut Vyapar Nigam (NVVN) and Solar Energy Corporation of India (SECI) with VGF for Tranche-I is Rs. 46 lakh/MWh and for Tranche-II is Rs. 27 lakh/MWh.
Followed by, 6,000 MWh for states like Rajasthan, Karnataka, Tamil Nadu, Gujarat, Telangana, Maharashtra, Bihar, and Kerala, with Rs. 27 lakh/MWh of VGF support.
5,000 MWh for NVVN, NHPC, and SJVN with the same VGF structure as State. With declining BESS costs, the higher storage capacity is feasible within the same budget as per sources. The Contracts for the first 500 MW/1,000 MWh were signed in December 2024, with final contracts expected by June 2025 as per various sources.
Listed below are some of the stocks that might benefit from Government Battery Storage Capacity increased to 13,200 MWh by FY28
Tata Power Company Limited
This Tata Group company is India’s largest integrated power company with a generation capacity of 14,707 MW, including 40 percent from clean energy sources. It operates across the value chain such as generation, transmission, distribution, and EV solutions.
With a market capitalization of Rs. 1,21,247.16 Crores, the shares of Tata Power Company Limited closed at Rs. 379.45 per equity share, up 2.50 percent from its previous day’s close price of Rs. 370.20.
Waaree Energies
The company is one of the largest solar PV module manufacturers with a capacity of ~15GW. It offers solar modules, EPC services, rooftop solutions, and solar water pumps. Operating globally across 20 countries, it aims to expand capacity to 21 GW, 11.4 GW in Cell & 6 GW in Ingot-wafer by FY27.
With a market capitalization of Rs. 67,649.45 Crores, the shares of Waaree Energies Limited closed at Rs. 2,354.80 per equity share, up 4.63 percent from its previous day’s close price of Rs. 2,250.55.
Amara Raja Energy & Mobility Limited
This Amara Raja Group company is a leading Indian manufacturer of lead-acid batteries for automotive and industrial applications, and it supplies to major OEMs and various sectors.
With a market capitalization of Rs. 19,459.26 Crores, the shares of Amara Raja Energy & Mobility Limited closed at Rs. 1,063.20 per equity share, up 2.38 percent from its previous day’s close price of Rs. 1,038.30.
Oriana Power Limited
The company specializes in solar energy solutions for industrial and commercial clients. It offers EPC and RESCO services, including rooftop, ground-mounted, and floating solar projects. With a pipeline order book of ~Rs. 1,200 crore, it is exploring green hydrogen technologies.
With a market capitalization of Rs. 2,540.50 Crores, the shares of Oriana Power Limited closed at Rs. 1,250.30 per equity share, up 5.00 percent from its previous day’s close price of Rs. 1,190.80.
Advait Energy Transitions Limited
This Ashish Kacholia stock provides solutions for power transmission, substations, and telecommunication infrastructure. The company also manufactures and supplies power transmission products and is diversifying into renewable energy.
With a market capitalization of Rs. 1,256.16 Crores, the shares of Advait Energy Transitions Limited closed at Rs. 1,163.05 per equity share, up 2.95 percent from its previous day’s close price of Rs. 1,129.75.
Written by Santhosh S
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