Shell has signed a long-term power purchase agreement (PPA) to supply Ferrari with renewable electricity until the end of 2034, in a move aimed at helping the luxury carmaker cut emissions across its Italian operations.
The agreement will see Shell deliver around 650 gigawatt hours of renewable power over ten years from a plant developed by the energy major. The supply will meet nearly half of the energy demand at Ferrari’s flagship Maranello factory near Modena, a key step in reducing the company’s carbon footprint.
Shell Energy Italia will also provide additional electricity and renewable energy certificates to fully cover Ferrari’s power needs in Italy. The deal is expected to significantly lower Ferrari’s Scope 1 and 2 emissions as the company targets a 90% absolute reduction by 2030.
“We are proud to further strengthen our partnership with Ferrari through the signing of this important agreement,” said Gianluca Formenti, CEO of Shell Energy Italia.
Shell, already a long-time partner of Scuderia Ferrari in motorsport, said the new agreement reinforces its commitment to supporting the carmaker’s decarbonisation pathway.
