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Ola Electric Mobility Ltd. has signed a Memorandum of Understanding (MoU) with Axis Energy to evaluate the potential deployment of up to 20 GWh of Battery Energy Storage Systems (BESS) by 2032.
The agreement marks the first large-scale partnership for Mahashakti, Ola Electric's upcoming energy storage platform, which is scheduled to launch on August 15. Designed for commercial, industrial, and utility-scale applications, Mahashakti is expected to become a key growth driver for the company in the energy storage sector.
Axis Energy is developing one of India's largest pipelines of storage-backed renewable energy projects. The company has secured grid approvals for more than 3,750 MW of projects in Andhra Pradesh and Rajasthan, with an additional pipeline of around 3,500 MW. These projects include Firm and Dispatchable Renewable Energy (FDRE), hybrid, and other non-solar configurations that require large-scale battery energy storage.
According to the Central Electricity Authority (CEA), India will require more than 400 GWh of energy storage capacity by 2032. Ola's Mahashakti platform is being developed as an India-designed and India-manufactured BESS solution for renewable energy integration, industrial power, grid infrastructure, and data centre applications.
Ola Electric said its platform is vertically integrated, covering cell technology, manufacturing, and system engineering, enabling improved safety, higher performance, stronger supply chain security, and lower total cost of ownership.
Ravi Kumar Reddy Kataru, Chairman and Managing Director of Axis Energy Ventures, said battery energy storage is essential for supporting the company's expanding renewable energy portfolio and ensuring reliable round-the-clock clean power. He added that the partnership is an important step toward evaluating indigenous battery storage solutions.
Bhavish Aggarwal, Chairman and Managing Director of Ola Electric, said India will require energy storage at a massive scale, and Mahashakti's vertically integrated platform offers significant advantages in safety, performance, and cost efficiency. He added that Axis Energy is the company's first large-scale partner, validating the potential of the Mahashakti platform.
