Daijiworld Media Network - Bengaluru
Bengaluru, Aug 5: Ola Electric Mobility on Wednesday announced the signing of a memorandum of understanding (MoU) with renewable energy company Axis Energy for the potential deployment of up to 20 gigawatt hours (GWh) of battery energy storage systems (BESS) by 2032.
The agreement marks Ola Electric's entry into the utility-scale battery energy storage segment and is the first large-scale partnership for its proposed Mahashakti energy storage platform for commercial, industrial and utility-scale applications. The platform is scheduled to be launched on August 15.
According to the company, deployment under the agreement is expected to scale up to 5 GWh annually from 2028. However, the financial terms of the MoU and the year-wise deployment schedule have not been disclosed.
Ola Electric said Mahashakti will cater to renewable energy integration, industrial power, grid infrastructure and data centres using the company's battery cells, manufacturing capabilities and system engineering expertise.
Hyderabad-based Axis Energy has secured grid approvals for more than 3,750 MW of renewable energy projects in Andhra Pradesh and Rajasthan and has an additional project pipeline of around 3,500 MW. The company said battery storage would play a key role in enabling reliable, round-the-clock clean energy supply.
Citing estimates by the Central Electricity Authority, Ola Electric said India would require more than 400 GWh of energy storage capacity by 2032, making the proposed 20 GWh deployment an early contribution towards meeting the country's future demand.
Axis Energy Ventures Chairman and Managing Director Ravi Kumar Reddy Kataru said battery energy storage was essential to support the company's expanding renewable energy portfolio and improve clean energy integration.
Ola Electric Chairman and Managing Director Bhavish Aggarwal said the partnership marked the company's first large-scale agreement for Mahashakti and reflected growing industry interest in its integrated battery storage platform.
The announcement builds on Ola Electric's expansion into the energy storage sector. In October 2025, the company introduced its residential battery storage system, Shakti, and later stated that Mahashakti would focus on commercial, industrial and utility-scale customers.