Shell and Ferrari ink long-term green energy deal
Shell has signed a landmark long-term agreement to supply Ferrari with renewable energy until the end of 2034, the oil and gas giant announced Tuesday. The deal aims to help the luxury carmaker cut carbon emissions at its Maranello plant.
Under the agreement, Shell will provide 650 gigawatt hours of green power over 10 years, covering nearly half of Ferrari’s energy needs in Italy. Shell Energy Italia will also supply additional power and renewable energy certificates to meet the automaker’s total energy requirements nationwide, News.Az reports, citing Reuters.
Such power purchase agreements (PPAs)—long-term contracts for companies to buy electricity directly from producers—have become increasingly popular in Italy. They allow manufacturers to lock in energy costs while securing sustainable power sources.
The collaboration is expected to significantly reduce Ferrari’s Scope 1 and 2 emissions—those generated directly by operations and purchased energy—as the company targets a 90% reduction by 2030.
"We are proud to further strengthen our partnership with Ferrari through this important agreement," said Gianluca Formenti, CEO of Shell Energy Italia.
Shell already has a longstanding relationship with Ferrari, including partnerships with Scuderia Ferrari, the luxury brand’s iconic racing team.
Similar news
