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Saudi Arabia’s Tarsheed Raises Energy Efficiency in 126 Public Schools

Saudi Arabia’s Tarsheed Raises Energy Efficiency in 126 Public Schools
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Saudi Arabia’s Tarsheed Raises Energy Efficiency in 126 Public Schools

Saudi Arabia’s Tarsheed Raises Energy Efficiency in 126 Public Schools

Saudi Arabia’s National Program for Conservation and Energy Efficiency (Tarsheed) completed last week the rehabilitation of the first three batches of its projects aimed at enhancing energy efficiency in 126 public schools in Riyadh.

These works represent the first stage of the signed agreement with the Saudi Ministry of Education.

Walid al-Ghurairi, CEO of National Energy Efficiency Services Company, said that these efforts kicked off earlier this year to achieve the best usage of energy.

Ghurairi added that the first three batches include 126 schools covering an area of around 607,635 square meters. The number of teachers and students benefiting from these buildings is around 79,310 while the overall electric consumption exceeds 31,407,000 Kilowatt hour.

Electric consumption is expected to drop to 24,948,364 Kilowatt hour, which is more than 21 percent.

He added that Tarsheed replaced 70,152 lighting units with LED, known for less thermal emissions and spreading light equally. LED saves around 4,211 tons of harmful carbon emissions.

The firm planted smart sensors in 48 schools around the Kingdom. These sensors aim to asses the current consumption pattern in various buildings for one whole year in order to figure out the effect of consuming the cooling and lighting systems on the overall electric consumption in scholar buildings.

Tarsheed is currently working on rehabilitating a number of public universities, such as Imam Muhammad ibn Saud Islamic University, King Saud University and Princess Nourah Bint Abdul Rahman University.

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The Worst Market Crashes Since 1929 

A screen displaying the closing Hang Seng Index at Central district, in Hong Kong, China, April 7, 2025. (Reuters)
A screen displaying the closing Hang Seng Index at Central district, in Hong Kong, China, April 7, 2025. (Reuters)
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The Worst Market Crashes Since 1929 

A screen displaying the closing Hang Seng Index at Central district, in Hong Kong, China, April 7, 2025. (Reuters)
A screen displaying the closing Hang Seng Index at Central district, in Hong Kong, China, April 7, 2025. (Reuters)

Monday's stock market collapses in Asia and Europe after China retaliated to steep US tariffs revived memories of similar market turmoil after the Covid pandemic and the last global financial crisis.

Analysts called the falls "historic" and some even described it as a "bloodbath", recalling previous collapses since the start of the last century.

Global stocks crashed in March 2020 after the World Health Organization declared Covid-19 a pandemic, putting much of the world under lockdown.

On March 12, 2020 -- the day after the announcement -- Paris fell 12 percent, Madrid 14 percent and Milan 17 percent. London dropped 11 percent and New York 10 percent in the worst fall since 1987.

Further falls came over the following days, with US indexes dropping more than 12 percent.

The rapid response by national governments, which dug deep to keep their economies afloat, helped most markets rebound within months.

The 2008 global financial crisis was caused by bankers in the United States giving subprime mortgages to people on shaky financial footing and then selling them off as investments, fueling a housing boom.

When borrowers became unable to pay their mortgages, millions lost their homes, the stock market crashed and the banking system buckled, culminating with the dramatic bankruptcy of investment bank Lehman Brothers.

From January to October that year, the world's main stock markets fell between 30 and 50 percent.

The start of the millennium saw the deflation of the tech bubble caused by venture capitalists throwing money at unproven companies.

From a record 5,048.62 points on March 10, 2000, the US tech-heavy Nasdaq index lost 39.3 percent in value over the year.

Many internet startups went out of business.

Wall Street crashed on October 19, 1987, on the back of large US trade and budget deficits and interest rates hikes.

The Dow Jones index lost 22.6 percent, causing panic on markets worldwide.

October 24, 1929 became known as "Black Thursday" on Wall Street after a bull market imploded, causing the Dow Jones to lose more than 22 percent of its value at the start of trade.

Stocks recouped most lost ground during the day but the rot set in: October 28 and 29 also saw huge losses in a crisis that marked the beginning of the Great Depression in the United States and a global economic crisis.