Ola Electric signs first utility-scale storage MoU

Ola Electric Mobility Limited has announced its first MoU with Axis Energy for its upcoming Mahashakti utility-scale and C&I energy storage platform.

• The MoU outlines potential deployment of up to 20 GWh of battery energy storage systems by 2032, with a ramp-up to 5 GWh annually from 2028; Mahashakti is scheduled to launch on 15 August 2026.
• Axis Energy said its renewable portfolio includes 3,750 MW+ of grid-approved projects in Andhra Pradesh and Rajasthan and a pipeline of ~3,500 MW; the release says CEA estimates India will need 400+ GWh by 2032, and Mahashakti will target renewable integration, industrial power, grid infrastructure, and data-center applications.