PIF's Tarshid launches initiative to conserve energy at state entities

The National Energy Efficiency Services Co. (Tarshid), founded by Saudi Arabia’s Public Investment Fund (PIF), has launched phase I of government facilities’ rehabilitation project, the official Saudi Press Agency (SPA) has reported.

The project is aimed at reducing power consumption in the public sector entities, SPA reported, citing an official statement.

Tarshid’s project is expected to boost energy-efficiency services and cut power consumption in the government facilities by 29 percent. These services will be initially implemented in four Saudi institutions, namely, Saudi Standards, Metrology and Quality Organization, Saudi Post, the Ministry of Municipality and Rural Affairs and Institute of Public Administration.

Saudi state-owned entities consume 38.5 GW/h or 13 percent of the Kingdom’s power consumption.

Tarshid’s rehabilitation project was first launched in Riyadh, where it is expected to save up to 60 percent of power consumption. The project will be implemented in other cities around the kingdom later on.

In October, the Saudi sovereign fund established the National Energy Efficiency Services Co. with a capital of SAR 1.9 billion.

The size of the global energy efficiency sector is estimated at SAR 130 billion, of which the US, Europe and China together account for 90 percent, SPA said.