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Renewable energy based micro grids are a better way of utilizing renewable power and reduce the usage of fossil fuels. Usage of energy storage becomes mandatory, when such micro-grids are used to supply quality power to the loads. However, it is difficult to meet the various needs from both the source and the load. The intermittent nature of renewable energy sources like PV demands usage of storage with high energy density. At the same time, quick fluctuation of load demands storage with high power density. This paper proposes a Composite Energy Storage System (CESS) which contains both high energy density and high power density storages to meet the above mentioned requirements. The proposed power converter configuration and the energy management scheme can actively share the power flow among the different energy storages. Results are presented to show the feasibility of the proposed scheme.