Ola Electric Mobility Ltd is making a major push into the utility-scale energy storage market, signing a memorandum of understanding (MoU) with Axis Energy that envisages the deployment of up to 20 GWh of battery energy storage systems (BESS) by 2032.
The agreement marks the first large-scale commercial partnership for Ola Mahashakti, the company’s upcoming energy storage platform for commercial, industrial and utility-scale applications, which is scheduled to be unveiled on August 15.
The proposed deployment comes at a time when India is rapidly expanding renewable energy capacity and battery storage is emerging as a critical enabler of round-the-clock clean power.
India’s storage opportunity
According to the Central Electricity Authority (CEA), India will require more than 400 GWh of battery energy storage capacity by 2032 to support its clean energy ambitions. Ola said Mahashakti has been designed and manufactured in India to address this opportunity across renewable energy integration, industrial power, grid infrastructure and data centres.
The partnership with Axis Energy is expected to demonstrate the commercial potential of the platform and position utility-scale battery storage as a new growth engine for Ola Electric beyond electric vehicles.
Supporting renewable expansion
Axis Energy is developing one of India’s largest portfolios 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, while an additional 3,500 MW pipeline is under development.
These projects, spanning Firm and Dispatchable Renewable Energy (FDRE), hybrid and other renewable configurations, are expected to require large-scale battery storage to improve renewable integration, strengthen grid reliability and provide consistent clean power.
Integrated technology platform
Ola said Mahashakti will leverage the company’s vertically integrated capabilities spanning battery cell technology, manufacturing and system engineering. The company believes this integrated approach will offer customers improved safety, better performance, enhanced supply chain security and lower total cost of ownership over the lifecycle of the storage systems.
Axis Energy Ventures Chairman and Managing Director Ravi Kumar Reddy Kataru said battery energy storage would play a crucial role in supporting the company’s expanding renewable energy portfolio and enabling reliable, round-the-clock clean power.
Ola Electric Chairman and Managing Director Bhavish Aggarwal said India would require energy storage at an unprecedented scale and the company’s integrated cell-to-system platform was designed to deliver advantages in safety, performance and lifecycle costs.
He said the partnership with Axis Energy represents an important early validation of Mahashakti and added that the company is witnessing strong interest from potential partners across the industry.