Ola Electric Signs MoU with Axis Energy for 20 GWh Storage
Ola Electric Mobility Limited has announced 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 marks the first major partnership for Ola's upcoming 'Mahashakti' platform, designed for utility-scale, commercial, and industrial applications, set to launch on August 15. The agreement includes a ramp-up to 5 GWh annually from 2028. Axis Energy, a renewable energy developer, will utilize these systems for its extensive pipeline of storage-backed renewable projects. Ola's vertically integrated cell-to-system platform aims to enhance safety, supply security, and reduce the total cost of ownership, positioning 'Mahashakti' as a significant growth area for the company amidst India's growing energy storage demand.
Key Highlights
- Ola Electric signs MoU with Axis Energy for 20 GWh battery storage deployment.
- Partnership is the first for Ola's upcoming 'Mahashakti' energy storage platform.
- Deployment target of up to 20 GWh by 2032, with annual ramp-up from 2028.
- Ola's vertically integrated platform aims for enhanced safety and lower costs.
- Positions BESS as a new significant growth avenue for Ola Electric.
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