ENGIE hands over second energy efficiency project to Tarshid

ENGIE hands over its second project with Saudi Arabia’s Tarshid, reducing energy consumption of the Medical City of King Saud University (MCKSU) by over 31 percent.

Riyadh, Kingdom of Saudi Arabia, April 7, 2021: One year since being awarded, France-based ENGIE hands over its second energy efficiency project with Saudi Arabia’s National Energy Services Company, Tarshid. After concluding a detailed audit of the facilities, ENGIE has successfully completed the implementation of 11 energy savings measures to reduce energy usage and guarantee energy efficiency for the Medical City of King Saud University (MCKSU) in Riyadh by over 31%, equivalent to 43 GWh per year, for 10 years.

The MCKSU Project was awarded by Tarshid to ENGIE in December 2019 and was officially handed over in December 2020. ENGIE leveraged its global experience in energy efficiency to provide innovative and cost-effective energy solutions to the project’s 8 hospital buildings which occupy an area of over 322,000 square meters. Efficiency measures include the retrofitting of ventilation and air conditioning systems, lighting, and the implementation of smart solutions, all of which contribute to 30,000 tonnes of emissions being avoided annually. ENGIE will continue operating and maintaining the implemented energy savings solutions for 10 years, consistently monitoring and controlling the hospital facilities consumption through a state-of-art energy control room located in ENGIE’s facilities in Riyadh.

TARSHID’s CEO Mr. Waled Alghreri stated that this project comes as one of many projects that the company supervises their execution through a model of collaboration with the private sector (Public-Private Partnership). TARSHID also develops, manages, and finances energy efficiency projects by working with energy efficiency services companies and various beneficiaries, providing support and facilitation to them throughout the project duration. Additionally, the company strives to continually develop the energy efficiency sector and create the appropriate and supportive environment to enable those companies to function and execute retrofitting projects at a level comparable to its global counterparts. It is noteworthy that TARSHID came as a result of a collaborative effort between the Ministry of Energy and the Public Investment Fund. TARSHID aims to be a pioneer in its field and to help build a more sustainable future, as part of its goals to achieve the Kingdom’s vision 2030 in developing the energy efficiency industry, and to be one of the promising sectors for the Kingdom’s economy.

ENGIE CEO, Turki Al Shehri comments “With sustainability on the top of the Kingdom’s agenda, ENGIE’s experience in providing effective energy efficiency solutions to reduce costs and avoid emissions is now more important than ever. ENGIE brings a global level of expertise to the local economy, working to ensure Saudi Arabia fulfils its energy transition commitments. The private sector has a huge role to play in the Kingdom’s transition to a sustainable economy and can help provide the manpower and funding necessary to help achieve goals of the Vision 2030. Thanks to the partnership models adopted by Tarshid, global clean energy solution providers like ENGIE can play an integral role in the Kingdom’s long-term development.”

The Project falls in line with Kingdom-wide goals to achieve significant energy savings and build a more sustainable future. ENGIE is a global leader in delivering sustainable energy management solutions that are design technology-enabled, data-driven and provide sustainable assets and energy optimisation to create long-term value. Since 2018, ENGIE has been dedicated to providing energy efficiency services to government, commercial and industrial sectors across Saudi Arabia. In partnership with Tarshid, ENGIE aims to transform infrastructure of the Kingdom into high-performing assets by maximizing efficiency, minimizing costs and reducing environmental impact, while supporting knowledge transfer to local partners.

About TARSHID

TARSHID is a national company owned by the Public Investment Fund and was established in 2017 with the aim for it to be the leading energy efficiency services company in the Kingdom, and to serve the national strategic goal of sustainability by making a great amount of energy saving. TARSHID aims to play a major role in the development of this sector by establishing a thriving energy efficiency industry in the Kingdom, attracting international cooperation to the Saudi energy efficiency market, attracting foreign investments, and contributing to the creation of thousands of highly skilled jobs. TARSHID’s vision is to become the leading energy efficiency services company in the Kingdom and its mission is to serve the Kingdom’s strategic sustainability goal to achieve significant energy savings, in addition to stimulating the development of the energy efficiency industry to be thriving in the Kingdom. It also aims to increase energy efficiency in the Kingdom of Saudi Arabia through energy efficiency services projects and develop the energy efficiency services sector, localize expertise in the field, and create pioneers in the sector.

About ENGIE in Saudi Arabia

ENGIE has been present in the region for almost 30 years. ENGIE develops its activities in partnership with Saudi actors on energy production, seawater desalination, district cooling, energy efficiency services and high value-added facilities management. We have 2000 employees and over USD 7.9 Billion of capital investment in the Kingdom. ENGIE generates 7600 MW of power, equivalent to 10% of the installed capacity of Saudi Arabia and produces 176 MIGD of desalinated water per day, equivalent to 11% of market production.

About ENGIE Group

Our group is a global reference in low-carbon energy and services. Together with our 170,000 employees, our customers, partners and stakeholders, we are committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally friendly solutions. Inspired by our purpose (“raison d’être”), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers.

Turnover in 2020: 55.8 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris – World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).