Finance
Shell and Ferrari sign long-term green power supply deal
Published by Global Banking & Finance Review®
Posted on November 25, 2025
2 min readLast updated: January 20, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on November 25, 2025
2 min readLast updated: January 20, 2026
Shell and Ferrari sign a deal for renewable energy supply until 2034, significantly reducing Ferrari's carbon emissions.
MILAN (Reuters) -Shell has signed a long-term deal to supply Ferrari with renewable energy until the end of 2034 to help the luxury carmaker to reduce carbon emissions, the oil and gas group said on Tuesday.
Such power purchase agreements - long-term contracts under which a company buys electricity directly from a producer - have become more common in Italy in recent years as a way for manufacturers to lock in energy costs and secure green power.
In this case, Shell will supply a total of 650 gigawatt hours of power over 10 years from a plant developed by the oil and gas group.
That will cover nearly half of the total energy needs of Ferrari's Maranello plant near Modena, helping to decarbonise the carmaker's production.
Shell Energy Italia will also provide additional power and renewable energy certificates to cover Ferrari's entire needs in Italy.
The deal is expected to result in a significant cut to Ferrari's Scope 1 and 2 emissions – those generated directly by its operations and from purchased energy – as the luxury carmaker targets a 90% reduction in absolute terms by 2030.
"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 in a statement.
London-listed Shell is already a partner of Scuderia Ferrari, the luxury carmaker's racing team.
(Reporting by Francesca LandiniAdditional reporting by Giulio PiovaccariEditing by David Goodman)
Renewable energy is energy derived from natural sources that are replenished at a faster rate than they are consumed, such as solar, wind, and hydroelectric power.
Carbon emissions reduction refers to strategies and actions taken to decrease the amount of carbon dioxide released into the atmosphere, often to combat climate change.
Scope 1 emissions are direct greenhouse gas emissions from owned or controlled sources, while Scope 2 emissions are indirect emissions from the generation of purchased electricity.
Renewable energy certificates (RECs) are tradable commodities that represent proof that energy has been generated from renewable sources, helping to promote and track renewable energy use.
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