Saudi PIF Establishes New Energy Service Company 'Super Esco'

The Kingdom Tower stands in the night above the Saudi capital Riyadh November 16, 2007.  REUTERS/Ali Jarekji  (SAUDI ARABIA)
The Kingdom Tower stands in the night above the Saudi capital Riyadh November 16, 2007. REUTERS/Ali Jarekji (SAUDI ARABIA)
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Saudi PIF Establishes New Energy Service Company 'Super Esco'

The Kingdom Tower stands in the night above the Saudi capital Riyadh November 16, 2007.  REUTERS/Ali Jarekji  (SAUDI ARABIA)
The Kingdom Tower stands in the night above the Saudi capital Riyadh November 16, 2007. REUTERS/Ali Jarekji (SAUDI ARABIA)

Saudi Arabia's Public Investment Fund (PIF) has announced the establishment of a new energy service company, Super Esco, designed to increase energy efficiency across government and public buildings and stimulate the growth of the Kingdom’s energy efficiency industry in line with the objectives of Vision 2030 to diversify the economy and drive environmental sustainability.

In partnership with the Ministry of Energy, Industry and Mineral Resources, the Ministry of Finance, and the Saudi Energy Efficiency Center, Super Esco will provide new investment opportunities by creating partnerships with the private sector to deliver projects.

Projects in the Kingdom of Saudi Arabia’s energy efficiency sector have an estimated value of SAR 42 billion, or around SAR 3 billion annually. Internationally, the sector is valued at SAR 130 billion, with projects in the US, Europe, and China accounting for 90 percent of the global market share.

Super Esco has been established with a capitalization of SAR 1.9 billion. The company will fund and manage the retrofit of government and public buildings, which represent over 70 percent of overall projects in the sector.

These projects will help reduce government spending on the electricity sector, which will in turn reduce natural resource consumption while rationalizing capital investments in expansion projects for the production, generation, transmission, and distribution of electricity.



Saudi Arabia Condemns Far-Right Israeli Minister’s Storming of Al-Aqsa Mosque Compound

 A general view of Al-Aqsa Mosque compound as Muslim worshippers attend the last Friday prayers of the holy fasting month of Ramadan, in Jerusalem, March 28, 2025. (Reuters)
A general view of Al-Aqsa Mosque compound as Muslim worshippers attend the last Friday prayers of the holy fasting month of Ramadan, in Jerusalem, March 28, 2025. (Reuters)
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Saudi Arabia Condemns Far-Right Israeli Minister’s Storming of Al-Aqsa Mosque Compound

 A general view of Al-Aqsa Mosque compound as Muslim worshippers attend the last Friday prayers of the holy fasting month of Ramadan, in Jerusalem, March 28, 2025. (Reuters)
A general view of Al-Aqsa Mosque compound as Muslim worshippers attend the last Friday prayers of the holy fasting month of Ramadan, in Jerusalem, March 28, 2025. (Reuters)

Saudi Arabia strongly condemned on Wednesday the storming of Jerusalem’s Al-Aqsa Mosque compound by Israel’s far-right National Security Minister Itamar Ben-Gvir.

The Saudi Foreign Ministry slammed the repeated “flagrant Israeli violations of the sanctity of the Al-Aqsa Mosque.”

It also condemned Israeli forces for attacking an UNRWA clinic in northern Gaza, saying it was another in a series of attacks by Israel against UN and relief agencies.

“The Kingdom condemns the continued Israeli violations of international law and international humanitarian law, underscoring its categorical rejection of everything that may undermine the historic and legal status of Jerusalem and its holy sites,” said the ministry.

It called on the international community to “put a stop to the Israeli war machine that has no regard for any human values or law or international norms.”

It warned that the international community’s failure to deter these dangerous and ongoing violations will undermine opportunities to achieve peace and undermine the credibility of international law, as well as impact regional and global security and stability.