Four beaten-down battery energy storage systems stocks to watch

Subscribe to enjoy similar stories.The clean energy story is evolving fast, and battery energy storage systems (BESS) are becoming a crucial part of that shift.As renewable energy capacity grows, the need to store power efficiently and use it when demand rises is only getting more important. But the BESS theme has not been like many other fast-emerging themes in the market.Due to supply constraints and operational challenges, many stocks within the sector or involved in the ecosystem have corrected from their peaks.In some cases, stocks have fallen simply due to the broader market weakness.As India continues to push aggressively towards renewable energy, the need for efficient energy storage is only expected to grow.

So while stocks have corrected for the time being, the long-term relevance of this space remains intact.Keeping that in mind, let’s look at four beaten-down BESS stocks that are currently under pressure, but could be worth keeping an eye on as the cycle turns.Though it’s not a core BESS company, it has taken exposure to the theme by way of setting a subsidiary in 2022.Rajesh Exports entered the BESS space through ACC Energy Storage, which is part of the ACC PLI scheme and is setting up one of India's first large-scale Advanced Chemistry Cell gigafactories.Currently, the focus is on building a lithium-based battery manufacturing for EVs and stationary storage. As operations begin to take shape, the focus now shifts to execution and commercial scale.Primarily, the company is engaged in the business of importing gold and manufacturing gold jewellery, medallions, and other products.