The National Energy Services Company (NESCO), branded as Tarshid, is an energy company that was established in March 2017 in the

Kingdom of Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the Ara ...

. Tarshid was issued a Saudi

Royal Decree A decree is a legal proclamation, usually issued by a head of state (such as the president of a republic or a monarch), according to certain procedures (usually established in a constitution). It has the force of law. The particular term used for ...

in March 2017, giving it the exclusive mandate to

retrofit Retrofitting is the addition of new technology or features to older systems. Retrofits can happen for a number of reasons, for example with big capital expenditures like naval vessels, military equipment or manufacturing plants, businesses or go ...

all public buildings and facilities in the Kingdom, which is set to transform the local energy efficiency market from an early growth stage to a thriving industry composed of the most innovative and professional companies. Tarshid is set to support the development of a commercial energy services market by building the capacity of local Energy Services Companies (

ESCOs Escos is a commune in the Pyrénées-Atlantiques department in south-western France. See also *Communes of the Pyrénées-Atlantiques department The following is a list of the 546 communes of the Pyrénées-Atlantiques department of France ...

) and facilitating the establishment of the world's leading

in the Kingdom through collaborating with key stakeholders such as the Saudi Ministry of Finance (MOF) and the Saudi Energy Efficiency Center (SEEC). Tarshid is fully owned by

Public Investment Fund The Public Investment Fund (PIF; ar, links=no, صندوق الإستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of $620 billion ...

and has set targets for implementing energy efficiency projects in buildings and facilities across the Kingdom.

References

{{DEFAULTSORT:National Energy Services Company, The Energy companies established in 2017 2017 establishments in Saudi Arabia Companies based in Riyadh Public Investment Fund