Ahead of Formula E’s return to the Kingdom for the 2024 Diriyah E-Prix this weekend, Tarshid, the National Energy Services Company, today announced it has renewed its partnership and sponsorship of the Diriyah E-Prix for the third consecutive year.

The partnership, in collaboration with the Ministry of Sports, aims to promote sustainable technology, and reaffirms Tarshid's commitment to a sustainable future that aligns with the goals of the ABB FIA Formula E World Championship, the world's first fully electric-powered car racing series.

Through this partnership, Tarshid intends to foster sustainability and promote optimal energy efficiency in the sport sector, while driving innovation in this field.

Mr.Waled Al-Ghreri, CEO of Tarshid, said: “The renewal of this partnership is a testament to Tarshid’s unwavering commitment towards energy efficiency, and its mission to serve the Kingdom's strategic sustainability goal, support the prosperity of the Kingdom’s energy efficiency industry, and achieve significant energy savings. These align perfectly with the goals of Formula E, as Tarshid has been a partner for the past two years, 2022 and 2023, and continues to renew its partnership for the third time in 2024.”

Carlo Boutagy, CBX Founder and CEO said: “It is fantastic to have Tarshid back on board as one of our partners for a third year in a row. The work the team is doing to pioneer energy efficiency aligns so well with the Diriyah E-Prix as we all work together to build towards a more sustainable future; us by showcasing the power of electric mobility, and Tarshid by providing sustainable solutions to increase energy efficiency in the Kingdom.”

Nacho Calcedo, Diriyah E-Prix Event Director, Formula E, said: “We welcome Tarshid’s continued commitment to supporting the Diriyah E-Prix, and it reflects Formula E’s own commitment to bringing the world’s most competitive motorsport to Saudi Arabia. We are both dedicated to creating a sustainable and energy efficient future and are excited to showcase the pinnacle of elite sport and sustainability in our exciting racing this weekend.” 

Formula E was the first all-electric FIA World Championship, showcasing the use of electric cars and energy-efficiency solutions to reduce air pollution and combat climate change, which is aligned with Saudi Vision 2030. The 2024 Diriyah E-Prix offers a unique blend of fun, excitement, and energy efficiency while minimising environmental impact, with the racetrack illuminated by the latest low-energy LED technology.

It is worth noting that Tarshid develops, manages, and finances energy efficiency projects for various sectors in the Kingdom, with the aim of leading the energy efficiency industry and contributing to building a sustainable future. Tarshid has addressed achievements of replacing more than 4.2 million lighting lamps across the Kingdom by the end of 2023, and increasing energy efficiency in over 22,000 government buildings, with an estimated reduction of over 6,000 GWh annually. This is equivalent to avoiding consumption of more than 10.9 million barrels of oil and preventing over 3.9 million metric tons of harmful carbon emissions, which is equivalent to the environmental impact of planting more than 64.6 million seedlings annually.


About Tarshid 

The National Energy Services Company (TARSHID) is a national company wholly owned by the Public Investment Fund (PIF). It was established in 2017 to become the leading company in the energy services sector and to contribute to one of the main pillars of Saudi Vision 2030 “sustainability.” TARSHID aims to play a pivotal role in developing the energy sector by fulfilling the Kingdom's strategic sustainability objectives through integrating energy efficiency, operational efficiency, and clean energy solutions, into flourishing energy efficiency industry and supporting the circular carbon economy in the Kingdom.

In this context, TARSHID offers project management and financing services for retrofitting buildings and facilities related to energy efficiency, in addition to providing measurement and verification services, tender management, procurement services, and supervising operations and maintenance activities across the life cycle of the retrofit project.

For more information, please visit https://www.tarshid.com.sa

About Formula E and the ABB FIA Formula E World Championship:

As the world’s first all-electric FIA World Championship and the only sport certified net zero carbon since inception, the ABB FIA Formula E World Championship brings dramatic racing to the heart of some of the world’s most iconic cities providing an elite motorsport platform for the world’s leading automotive manufacturers to accelerate electric vehicle innovation.

The Formula E network of teams, manufacturers, partners, broadcasters, and host cities are united by a passion for the sport and belief in its potential to accelerate sustainable human progress and create a better future for people and planet.


For Formula E media enquiries, please contact media@fiaformulae.com