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.



Prophet's Mosque Receives 5.4 Million Worshippers Last Week

The Prophet's Mosque received 5,475,443 worshippers last week - SPA
The Prophet's Mosque received 5,475,443 worshippers last week - SPA
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Prophet's Mosque Receives 5.4 Million Worshippers Last Week

The Prophet's Mosque received 5,475,443 worshippers last week - SPA
The Prophet's Mosque received 5,475,443 worshippers last week - SPA

The Prophet's Mosque received 5,475,443 worshippers last week, with the General Authority for the Care of the Affairs of the Grand Mosque and the Prophet's Mosque offering extensive services to support and assist worshippers and visitors.
During the week, 644,670 visitors greeted Prophet Mohammad (peace be upon him) and his two companions, while 376,765 worshippers performed prayers in the Holy Rawdah, SPA reported.
Furthermore, 31,739 individuals from diverse nationalities benefited from translation services.

Field operations involved 24,053 liters of disinfectant for sterilization and disinfection activities.
Moreover, 1,480 tons of Zamzam water were consumed, and 152 samples were collected for testing and analysis.
The authority also distributed 136,283 Iftar meals, ensuring access to food for those breaking their fast.