Shell and Ferrari Extend Partnership to 2026 with New Power Plant Deal

In the United States, Shell PLC has renewed its long-standing partnership with Ferrari N.V., extending their collaboration until 2026. This multi-year agreement will encompass various Ferrari racing series, including Scuderia Ferrari HP, Ferrari Hypercar, and the Ferrari Challenge Series. Such strategic alliances are crucial for both companies to enhance their visibility and performance in motorsports. Concurrently, Shell's subsidiary has signed a deal to acquire RISEC Holdings, which owns a 609-megawatt combined-cycle gas turbine power plant in Rhode Island. This acquisition is a significant move, as it allows Shell to secure long-term energy supply and capacity offtake in the Independent System Operator New England power market, where they have been active for over two decades. The acquisition deal, which is pending regulatory approvals, is expected to close in early 2025. Shell's robust track record in managing this type of asset positions them to capitalize on its performance and facilitate growth in their integrated gas and power business. Overall, these developments reflect Shell's commitment to expanding its energy portfolio and solidifying its partnership with Ferrari to further extend its influence in the energy and automotive sectors.