The companies plan to deploy up to 20 GWh of battery energy storage capacity by 2032 under a new partnership.
Ola Electric has signed a memorandum of understanding (MoU) with renewable energy developer Axis Energy to explore the deployment of up to 20 gigawatt-hours (GWh) of battery energy storage systems (BESS) by 2032.
The agreement marks the first large-scale partnership for Mahashakti, Ola Electric’s upcoming energy storage platform designed for commercial, industrial, utility-scale, and grid applications.
Mahashakti is scheduled to be officially launched on August 15, 2026.
Partnership to Support India’s Renewable Energy Growth
Under the proposed collaboration, deployments could scale to 5 GWh annually from 2028, although the company clarified that the MoU outlines the potential size of the partnership rather than confirming a firm order for the full 20 GWh.
Battery energy storage systems play a critical role in renewable energy by storing electricity when supply is high and releasing it when demand increases, or renewable generation falls, helping improve grid stability and reliability.
Axis Energy Expands Renewable Portfolio
Hyderabad-based Axis Energy has secured grid approvals for renewable energy projects with a combined capacity of more than 3,750 MW across Andhra Pradesh and Rajasthan. The company also has an additional project pipeline of around 3,500 MW.
Its portfolio includes hybrid renewable projects and firm, dispatchable clean energy developments designed to provide a more reliable power supply beyond conventional solar generation.
Ravi Kumar Reddy Kataru, Chairman and Managing Director of Axis Energy Ventures, said battery energy storage has become essential for delivering reliable, round-the-clock renewable power.
He added that the partnership represents an important step in evaluating indigenous battery storage technologies to support the company’s expanding renewable energy business.
Mahashakti Targets India’s Growing Storage Demand
Ola Electric describes Mahashakti as an India-designed and India-manufactured energy storage platform built on a vertically integrated model spanning battery cell technology, manufacturing, and system engineering.
The company says this approach is intended to improve safety, performance, supply chain resilience, and long-term operating costs. However, these capabilities have yet to be demonstrated through projects under the Axis Energy partnership.
According to the Central Electricity Authority (CEA), India will require approximately 73.93 GW of power capacity and 411.4 GWh of energy storage by FY2031-32 to support the country’s growing renewable energy capacity and maintain grid stability.
Ola Electric Expands Beyond EVs
Bhavish Aggarwal, Chairman and Managing Director of Ola Electric, said India’s future energy transition will require battery storage at a massive scale.
He described Axis Energy as Mahashakti’s first large-scale partner and said the agreement validates the platform’s potential while helping strengthen long-term partnerships in the energy storage sector.
The MoU marks another step in Ola Electric’s strategy to diversify beyond electric vehicles and establish a presence in India’s rapidly expanding battery energy storage market.
