Strategic Initiative Details
Ola Electric Mobility Limited announced the signing of a Memorandum of Understanding (MoU) with Axis Energy Ventures India Private Limited for potential deployment of up to 20 GWh of battery energy storage systems (BESS) by 2032. This represents the first large-scale partnership for Ola Mahashakti, Ola's forthcoming energy storage platform for commercial, industrial and utility-scale applications scheduled to launch on 15 August 2026.
Deployment Scale and Timeline
The agreement envisages:
- Total potential deployment of up to 20 GWh by 2032
- Ramp-up to 5 GWh annually from 2028
- This establishes utility-scale BESS as a significant new growth avenue for Ola
Technical and Operational Model
Ola's proposition is built on vertical integration, described as India's first cell-to-system platform designed to deliver:
- Enhanced safety and performance
- Stronger supply-chain security
- Lower total cost of ownership over the system's operating life
- India-designed and India-manufactured BESS platform
Market Context and Opportunity
The partnership addresses India's energy storage requirements, with the Central Electricity Authority (CEA) estimating India will require 400+ GWh by 2032. The Mahashakti platform spans renewable-energy integration, industrial power, grid infrastructure and data-centre applications.
Partner Background
Axis Energy is building one of India's largest pipelines of storage-backed renewable projects with:
- Grid approvals secured for over 3,750 MW projects in Andhra Pradesh and Rajasthan
- Strong pipeline of approximately 3,500 MW
- Projects spanning Firm and Dispatchable Renewable Energy (FDRE), hybrid, and other non-solar configurations
- 1.5 GW of commissioned capacity and development pipeline of over 8.5 GW
- Strategic partnership with Brookfield Renewable through Evren joint venture (51:49) backed by Brookfield's USD 20 billion Global Transition Fund II
Management Commentary
Ravi Kumar Reddy Kataru, Chairman and Managing Director, Axis Energy Ventures: "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, Ola Electric: "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. We are witnessing a strong interest from potential partners in the industry, and this MoU further strengthens our momentum in building longterm partnerships."
Company Background
Ola Electric Mobility Limited is India's leading electric vehicle manufacturer specializing in vertical integration of technology and manufacturing for EVs and components including battery cells. The company operates the Ola Future factory in Tamil Nadu and Bengaluru-based Battery Innovation Centre (BIC), with R&D efforts spanning India, the UK, and the US.