New Delhi: Ola Electric Mobility Ltd on Wednesday announced that it has signed a Memorandum of Understanding (MoU) with Axis Energy outlining the potential deployment of up to 20 GWh of battery energy storage systems by 2032.
The MoU is 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 August 15, the company said in a statement.
The partnership is an early demonstration of the scale of demand Mahashakti can address. It establishes utility-scale BESS as a significant new growth avenue for Ola, it added.
Commenting on the association, Ravi Kumar Reddy Kataru, Chairman and Managing Director, Axis Energy Ventures, said, "As our renewable energy portfolio continues to expand, battery energy storage is quintessential to enabling reliable, round-the-clock clean power."
He further said, "This MoU marks an important step towards evaluating indigenous battery storage solutions that will support the next phase of our renewable energy growth."
Ola Electric Chairman and Managing DirectorBhavish Aggarwal said, "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."
He further said,"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 long-term partnerships."
Axis Energy is building one of India's largest pipelines of storage-backed renewable projects. The company has secured grid approvals for over 3,750 MW Projects in Andhra Pradesh and Rajasthan and has a strong pipeline of about 3500 MW.
These projects, spanning Firm and Dispatchable Renewable Energy (FDRE), hybrid, and other non-solar configurations, will require large-scale BESS to improve renewable energy integration, enhance grid reliability, and deliver firm, round-the-clock clean energy, the statement said.
India's energy transition will require storage deployment at an unprecedented scale.
The Central Electricity Authority (CEA) estimates that India will require 400+ GWh by 2032. Mahashakti addresses this opportunity with a first-of-its-kind India-designed and India-manufactured BESS platform spanning renewable-energy integration, industrial power, grid infrastructure and data-centre applications, it added.
Ola's proposition is built on vertical integration, from cell technology to manufacturing and system engineering.
This is designed to give customers greater control over safety and performance, stronger supply-chain security and a lower total cost of ownership over the system's operating life, the company said.
