Shell and Ferrari have signed a long-term corporate power purchase agreement under which Shell will supply the Italian carmaker with renewable electricity through 2034.
Under the deal, Shell plans to build a new renewable energy plant that will provide 650 GWh of power to Ferrari’s manufacturing site in Maranello.
Gianluca Formenti, CEO of Shell Energy Italia, said the agreement deepens the companies’ collaboration. “We are proud to further strengthen our partnership with Ferrari by signing this important Corporate Power Purchase Agreement, a concrete example of collaboration between companies to develop innovative and sustainable business models,” he said. He added that the project aligns with Shell’s strategy to generate “more energy with fewer emissions,” describing it as “a tangible example of our commitment to providing energy solutions to support our customers and partners in achieving their decarbonization goals.”
Ferrari said the agreement supports its ongoing efforts to curb emissions at its historic headquarters. Davide Abate, the company’s chief industrial officer, said: “This agreement represents a further step forward in our journey towards decarbonizing the Maranello plant.” He added that the partnership with Shell Energy Italia would “represent a concrete contribution to our goal of reducing Scope 1 and 2 emissions by at least 90% in absolute terms by 2030.”
The companies have collaborated for decades in motorsport and energy research. This latest agreement extends their cooperation into renewable power supply as both seek to advance decarbonization targets.
