Saudi Arabia targets energy reduction worth $6.6bln by 2030, says CEO
Its services include retrofitting buildings and streetlighting and promotes the use of renewable energy, including rooftop solar PV
Image used for illustrative purpose. Power plant,Energy power station.
By Staff Writer, Arab News
RIYADH: Saudi Arabia’s National Energy Services Company (Tarshid) said it plans to reduce energy consumption in the Kingdom by SR25 billion ($6.6 billion) by 2030.
“We are targeting integrated savings through the Saudi Energy Efficiency Program (SEEP), and in the public sector alone, we will be saving 8 terawatts and SR2.5 billion annually,” Tarshid CEO Waled Alghreri told CNBC Arabia in an interview.
Tarshid was established by the Public Investment Fund (PIF) to pioneer energy efficiency in Saudi Arabia in collaboration with the Ministry of Energy.
Its services include retrofitting buildings and streetlighting and promotes the use of renewable energy, including rooftop solar PV.
Its Energy Efficiency Program is a rare example of a country creating a dedicating, integrated initiative to target energy efficiency, said Alghreri.
Most such programs are scattered and decentralized and do not produce encouraging results, he said.
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
Get Zawya's daily newsletter for insightful and exclusive Middle East perspectives on business and finance. SUBSCRIBE NOW