Ola Electric Mobility Limited has signed a Memorandum of Understanding (MoU) with Axis Energy for the potential deployment of up to 20 GWh of battery energy storage systems by 2032. This partnership is a key step for Ola’s forthcoming ‘Mahashakti’ platform, targeting utility-scale, commercial, and industrial applications, with a projected annual ramp-up to 5 GWh from 2028.
Ola Electric Partners with Axis Energy for Energy Storage Expansion
Ola Electric Mobility Limited announced on August 5, 2026, the signing of a Memorandum of Understanding (MoU) with Axis Energy. This strategic partnership aims at the potential deployment of up to 20 GWh of battery energy storage systems (BESS) by 2032. The agreement is set to bolster Ola’s upcoming ‘Mahashakti’ platform, which is scheduled for launch on August 15, 2026.
Mahashakti Platform and Market Opportunity
The ‘Mahashakti’ platform is designed for utility-scale, commercial, and industrial energy storage applications. This MoU represents a significant demonstration of the market demand that Mahashakti is poised to address, establishing utility-scale BESS as a new and substantial growth avenue for Ola Electric. The agreement includes a potential ramp-up to 5 GWh annually starting from 2028. Ola’s vertically integrated, India-designed cell-to-system platform emphasizes enhanced safety, supply security, and a lower total cost of ownership.
Axis Energy’s Role and India’s Energy Transition
Axis Energy is recognized for developing one of India’s largest pipelines of storage-backed renewable projects, with secured grid approvals for over 3,750 MW and a development pipeline of approximately 3500 MW. These projects require large-scale BESS to integrate renewable energy, improve grid reliability, and deliver firm, round-the-clock clean energy. India’s energy transition is estimated to require over 400+ GWh of storage by 2032, a gap Ola’s Mahashakti platform aims to help fill.
Leadership Commentary
Commenting on the collaboration, Ravi Kumar Reddy Kataru, Chairman and Managing Director of Axis Energy Ventures, stated, “As our renewable energy portfolio continues to expand, battery energy storage is quintessential to enabling reliable, round-the-clock clean power. This MoU marks an important step towards evaluating indigenous battery storage solutions that will support the next phase of our renewable energy growth.”
Bhavish Aggarwal, Chairman and Managing Director of Ola Electric, added, “India will need energy storage at a massive scale and our vertically integrated cell-to-system platform enables us to deliver a stronger proposition across safety, performance and total cost of ownership. Axis Energy is our first large-scale partner and an important early validation of Mahashakti’s potential.”
Source: BSE
