Ferrari Extends Partnership with Shell, While Shell Acquires US Power Plant
Ferrari N.V. has announced a multi-year renewal of its partnership with energy giant Shell PLC, extending their collaboration into the future. This agreement, effective January 1, 2026, will encompass Scuderia Ferrari HP, Ferrari Hypercar, and the prestigious Ferrari Challenge Series. The partnership underscores the strong relationship between the two companies and their shared commitment to innovation and performance.
However, Shell’s ambitions extend beyond the racetrack. In a separate development, a subsidiary of Shell has entered into an agreement to acquire a 100% equity stake in RISEC Holdings, LLC. RISEC owns a substantial 609-megawatt (MW) combined-cycle gas turbine power plant located in Rhode Island. The acquisition price was not disclosed.
This strategic move positions Shell firmly in the deregulated Independent System Operator New England (ISO New England) power market. The acquisition ensures long-term supply and capacity offtake for Shell, solidifying its presence in this key region. Notably, Shell’s North American subsidiary has held a contract with RISEC since 2019 under an energy conversion agreement, securing 100% of the plant’s energy offtake.
The transaction is currently pending regulatory approvals and is anticipated to close in the first quarter of 2025. Huibert Vigeveno, Shell Downstream, Renewables & Energy Solutions Director, highlighted the strategic significance of the acquisition. He stated, “Shell has had a successful integrated gas and power business in the growing ISO New England market for over 20 years, and this acquisition secures valuable trading opportunities by guaranteeing SENA’s position in the market.” Vigeveno added, “Our strong understanding of this plant’s performance positions Shell to capitalize on its value within our existing trading portfolio.”
Meanwhile, Shell has also boosted investor confidence by raising its third-quarter upstream production outlook to 1,740-1,840 thousand boe/d. Investors seeking exposure to Shell can explore options like the First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF (EIPX) and the VanEck Natural Resources ETF (HAP).
In the market, SHEL shares experienced a slight decline of 0.99% on Wednesday, closing at $66.35.
