National Energy Services Company (Tarshid)

The National Energy Services Company (Tarshid) was recently established as a key enabler to advance and improve energy efficiency services in the Kingdom. Tarshid was created out of a true collaborative effort, driven by the Saudi Energy Efficiency Program (SEEP), local authorities, and leading international energy agencies, and was a successful translation of these efforts to create robust energy efficiency solutions in the Kingdom. The company tackles rising energy consumption in existing buildings and facilities. Tarshid was issued a Royal Decree giving it the exclusive mandate to retrofit all public buildings and facilities in the Kingdom, which will transform the local energy efficiency market from an early growth stage to a thriving industry comprised of the most innovative and professional companies. Tarshid will also support the development of a commercial energy services market by building the capacity of local Energy Services Companies (ESCOs) and facilitating the establishment of the world's leading ESCOs in the Kingdom through collaborating with key stakeholders such as the Ministry of Finance (MOF) and the Saudi Energy Efficiency Center (SEEC). Tarshid is fully owned by the Public Investment Fund (PIF) and has set ambitious targets for implementing energy efficiency projects in buildings and facilities across the Kingdom.