Shell has entered into a ten-year agreement to supply Ferrari with renewable electricity through the end of 2034,supporting the Italian luxury carmaker's efforts to lower carbon emissions from its manufacturing operations,the company announced on Tuesday.
Under the power purchase agreement,Shell will deliver a total of 650 gigawatt-hours of renewable power over the decade from a facility it has developed.This volume will meet nearly half of the electricity requirements at Ferrari’s main production site in Maranello,near Modena.
Shell Energy Italia will also provide supplementary renewable power and associated certificates to cover the full electricity consumption of Ferrari’s facilities across Italy.
The arrangement is expected to substantially reduce Ferrari’s Scope 1 and 2 emissions–those arising directly from its own activities and from purchased energy–and will contribute toward the carmaker’s target of achieving a 90%absolute reduction by 2030 compared with its baseline.
"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,in a statement.
Long-term power purchase agreements have gained popularity in Italy in recent years,enabling industrial companies to secure predictable energy pricing while increasing their use of renewable sources.
The new contract builds on an existing relationship between the two companies.London-listed Shell has been an official partner of Scuderia Ferrari,the racing division of the luxury automaker,for several years.
By locking in a significant portion of its Italian electricity needs from renewable generation,Ferrari advances its broader sustainability objectives while maintaining operational stability at its primary manufacturing campus.The Maranello complex,where all Ferrari road cars are assembled,will benefit directly from the cleaner power supply starting from the agreement’s implementation.
Shell continues to expand its portfolio of renewable energy solutions for corporate customers across Europe,with this transaction representing one of the largest such deals signed with an Italian industrial client.The partnership demonstrates how established energy providers are supporting major manufacturers in meeting ambitious environmental targets through direct access to green electricity and related certification.
