CEO of SPIRE: Saudi Competencies to Meet Renewable Energy Company Needs

Eng. Majed Refae, the CEO of the Saudi Polytechnic Institute of Renewable Energy (SPIRE) (Asharq Al-Awsat)
Eng. Majed Refae, the CEO of the Saudi Polytechnic Institute of Renewable Energy (SPIRE) (Asharq Al-Awsat)
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CEO of SPIRE: Saudi Competencies to Meet Renewable Energy Company Needs

Eng. Majed Refae, the CEO of the Saudi Polytechnic Institute of Renewable Energy (SPIRE) (Asharq Al-Awsat)
Eng. Majed Refae, the CEO of the Saudi Polytechnic Institute of Renewable Energy (SPIRE) (Asharq Al-Awsat)

Eng. Majed Refae, the CEO of the Saudi Polytechnic Institute of Renewable Energy (SPIRE), said that work was underway with strategic partners to provide companies operating in renewable energy projects with skilled national cadres.

In an interview with Asharq Al-Awsat, Refae noted that more than 7,800 jobs will be needed for energy projects in Saudi Arabia during the coming years, expecting the demand to grow with the announcement of new and investment plans.

SPIRE is a strategic partnership institute within a comprehensive system, which the Ministry of Energy considers an important tributary for providing human resources and qualifying young men and women to work in the oil, gas and energy sectors and companies, with the support of Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy.

The institute is located in Al-Jouf region in northern Saudi Arabia.

Refae said that the region was selected to be the headquarters of the institute, as it is situated within the global Sun Belt, which makes the solar radiation it receives one of the highest rates in the world.

Therefore, SPIRE was chosen to be near the first renewable energy projects in Saudi Arabia - the Sakaka solar power plant and Dumat al-Jandal for wind energy. This will allow the institute to introduce trainees to real work environments, he underlined.

Al-Jouf is also close to several other renewable energy projects in Qurayyat, Turaif, Hafr Al-Batin, and Tabuk, located in the north of the country.

Asked about the launching date, Refae said: “SPIRE is now in the final stages of training procedures; we expect to start operation at the end of March.”

As for the training programs, he pointed to a 12-month program targeting holders of diplomas from technical colleges, in which the focus is on specialization and skills needed by employers.

Another 24-month program is directed towards high school graduates, in which the trainees undergo an intensive program in the English language and preparatory materials, followed by a 4-month field training on the job site.

According to Refae, SPIRE is based on the principle of training with employment, which is one of the most important bases of work in the National Center for Strategic Partnerships. Therefore, all those who successfully pass the selection tests will be contracted by companies operating renewable energy projects in Saudi Arabia.

The CEO of SPIRE told Asharq Al-Awsat that the institute will seek to provide programs and specializations that meet the renewable energy sector in the areas of management, operation and maintenance.

This will be supported by creating accreditation programs that are tailored to the needs of companies operating in this promising sector, in accordance with the plan of the Ministry of Energy and Saudi Vision 2030.

Pointing that the institute capacity will reach 3,000 trainees, Refae added: “We are in the process of rehabilitating and equipping the facilities, and we plan to start training 250 cadres during the current year.”

“We are cooperating with local universities and institutes within the national system to provide curricula in accordance with the highest international standards,” he remarked.



US Job Growth Surges in September, Unemployment Rate Falls to 4.1%

A woman enters a store next to a sign advertising job openings at Times Square in New York City, New York, US, August 6, 2021. REUTERS/Eduardo Munoz/File Photo
A woman enters a store next to a sign advertising job openings at Times Square in New York City, New York, US, August 6, 2021. REUTERS/Eduardo Munoz/File Photo
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US Job Growth Surges in September, Unemployment Rate Falls to 4.1%

A woman enters a store next to a sign advertising job openings at Times Square in New York City, New York, US, August 6, 2021. REUTERS/Eduardo Munoz/File Photo
A woman enters a store next to a sign advertising job openings at Times Square in New York City, New York, US, August 6, 2021. REUTERS/Eduardo Munoz/File Photo

US job growth accelerated in September and the unemployment slipped to 4.1%, further reducing the need for the Federal Reserve to maintain large interest rate cuts at its remaining two meetings this year.
Nonfarm payrolls increased by 254,000 jobs last month after rising by an upwardly revised 159,000 in August, the Labor Department's Bureau of Labor Statistics said in its closely watched employment report on Friday.
Economists polled by Reuters had forecast payrolls rising by 140,000 positions after advancing by a previously reported 142,000 in August.
The initial payrolls count for August has typically been revised higher over the past decade. Estimates for September's job gains ranged from 70,000 to 220,000.
The US labor market slowdown is being driven by tepid hiring against the backdrop of increased labor supply stemming mostly from a rise in immigration. Layoffs have remained low, which is underpinning the economy through solid consumer spending.
Average hourly earnings rose 0.4% after gaining 0.5% in August. Wages increased 4% year-on-year after climbing 3.9% in August.
The US unemployment rate dropped from 4.2% in August. It has jumped from 3.4% in April 2023, in part boosted by the 16-24 age cohort and rise in temporary layoffs during the annual automobile plant shutdowns in July.
The US Federal Reserve's policy setting committee kicked off its policy easing cycle with an unusually large half-percentage-point rate cut last month and Fed Chair Jerome Powell emphasized growing concerns over the health of the labor market.
While the labor market has taken a step back, annual benchmark revisions to national accounts data last week showed the economy in a much better shape than previously estimated, with upgrades to growth, income, savings and corporate profits.
This improved economic backdrop was acknowledged by Powell this week when he pushed back against investors' expectations for another half-percentage-point rate cut in November, saying “this is not a committee that feels like it is in a hurry to cut rates quickly.”
The Fed hiked rates by 525 basis points in 2022 and 2023, and delivered its first rate cut since 2020 last month. Its policy rate is currently set in the 4.75%-5.00% band.
Early on Friday, financial markets saw a roughly 71.5% chance of a quarter-point rate reduction in November, CME's FedWatch tool showed. The odds of a 50 basis points cut were around 28.5%.