Shell and Ferari have penned a decade-long power purchase agreement that will supply the car company with 650 gigawatt hours of renewable electricity through 2034. The deal, announced hours ago, will deepen both companies’ long-running collaboration and launch one of Italy’s most substantial corporate PPAs to date.
The electricity, set to be generated from a Shell-developed plant, will meet almost half of the total energy demand at Ferrari’s Maranello factory close to Modena.
The location is the main base of Ferrari’s production footprint and the hub for its electrification plans as the luxury automaker works on expanding hybrid and fully electric models over the next 10 years.
Corporate PPAs have developed quickly in Italy as producers fight for lower-carbon operations and cost certainty. The nation’s industrial firms keep using the mechanism to guarantee price stability against uncertain wholesale markets, while aligning with national and EU climate policies that aid private-sector investment in renewable energy.
Ferrari’s emissions profile has shifted over the years as the company increases production of electrified vehicles while expanding production capacity at Maranello.
The PPA forms the core of its Scope 1 and 2 strategy, which targets a 90 per cent absolute reduction in operational emissions by 2030.
Shell Italy will supply additional power and renewable energy certificates to make sure all electricity consumed by Ferrari in the country is matched with renewable generation.
“We are proud to further strengthen our partnership with Ferrari through the signing of this important … agreement,” Gianluca Formenti, CEO of Shell Energy Italia, said.
