Ferrari (NYSE: RACE) has shut down a methane gas-fueled electricity generation plant in its hometown of Maranello as it aims to double its solar power production, the Italian luxury sports carmaker said on Tuesday.
The shutdown of the “trigeneration” plant, which was fuelled by methane gas, will ensure a 60% annual reduction in Scope 1 and 2 CO2 emissions, and a 70% reduction in methane gas consumption compared to previous levels, Ferrari said.
The group aims to reach a solar production of about 10-megawatt (MWp) by 2030, it said in a statement.
(Source: Reuters)
Mary Lee is a freelance writer and journalist based in Toronto, Canada. She holds an M.S. degree in business and economic journalism from Columbia University’s Graduate School of Journalism in New York and a certificate in digital marketing from the University of Toronto.