en.Wedoany.com Reported - Ola Electric has signed a Memorandum of Understanding (MoU) with renewable energy developer Axis Energy to deploy up to 20 GWh of battery energy storage systems (BESS) cumulatively by 2032. The partnership marks the first large-scale collaboration for Ola's upcoming energy storage platform, Ola Mahashakti. Targeting commercial, industrial, and utility-scale applications, the platform is slated for launch on August 15, and this collaboration establishes utility-scale storage as a significant new growth avenue for Ola.
Under the MoU, the parties aim to scale up annual BESS deployments to 5 GWh from 2028, achieving a cumulative deployment of 20 GWh by 2032.
Axis Energy is building one of India's largest pipelines of storage-enabled renewable energy projects, having secured grid approvals for projects totaling over 3.75 GW in Andhra Pradesh and Rajasthan, with an additional 3.5 GW under development. These projects encompass Firm and Dispatchable Renewable Energy (FDRE), hybrid, and other non-solar configurations, requiring large-scale BESS to improve renewable energy integration, enhance grid reliability, and provide reliable round-the-clock clean power.
According to the Central Electricity Authority (CEA), India's energy transition requires over 400 GWh of storage deployment by 2032. Ola's Mahashakti BESS is developed on India's indigenous vertically integrated manufacturing platform, covering cell technology, manufacturing, and systems engineering, targeting renewable energy integration, industrial power, grid infrastructure, and data center applications. Ola states that the vertical integration approach aims to improve safety and performance, strengthen supply chain security, and reduce total cost of ownership over the system's lifecycle.
Ravi Kumar Reddy Kataru, Chairman and Managing Director of Axis Energy Ventures, stated that as the renewable energy portfolio expands, battery storage is critical to achieving reliable round-the-clock clean power. The MoU marks a significant step in evaluating indigenous battery storage solutions that will support the company's next phase of renewable energy growth.
Bhavish Aggarwal, Chairman and Managing Director of Ola Electric, stated that India will require large-scale energy storage, and the company's cell-to-system vertically integrated platform can deliver stronger solutions in safety, performance, and total cost of ownership. Axis Energy, as the first large-scale partner, represents significant early validation of Mahashakti's potential. He also noted strong interest from potential industry partners, and that this MoU will further drive the establishment of long-term partnerships.
Headquartered in Hyderabad, Axis Energy Ventures has developed and delivered renewable energy projects across India for over 15 years, with more than 1.5 GW operational and over 8.5 GW in its development pipeline. The company has a strategic partnership with Brookfield Renewable through Evren, a 51:49 joint venture backed by Brookfield's $20 billion Global Transition Fund II. Ola Electric Mobility manufactures electric vehicles and critical components at its Ola Futurefactory in Tamil Nadu, supported by Ola's Battery Innovation Centre (BIC) in Bengaluru, which focuses on R&D in cell and battery technology.
