The National Energy Services Company (Nesco) - Tarshid

What The National Energy Services Company (Nesco) - Tarshid does

The National Energy Services Company (Tarshid) is a Saudi Arabian Super ESCO established in 2017 and wholly owned by the Public Investment Fund (PIF), the kingdom's sovereign wealth fund. The company was created to operationalize the sustainability pillar of Saudi Vision 2030 by promoting the integration of energy efficiency, operational efficiency, and renewable energy across the kingdom's public and commercial infrastructure. Tarshid's primary customer segment is the Saudi government sector, with direct engagement of ministries, municipalities, hospitals, and universities, complemented by competitive bidding into the commercial and industrial segment. Geographic operations span all 13 administrative regions of Saudi Arabia, with headquarters in Riyadh.

Tarshid's offering is structured as four core programs delivered under a single integrated platform: Streetlights Retrofit (nationwide LED standardization and replacement in coordination with the Saudi Energy Efficiency Center and SASO), Buildings and Facilities Retrofit (energy performance upgrades for public facilities and, competitively, for commercial buildings), Solar PV (rooftop photovoltaic deployment supporting clean energy generation), and Energy Efficiency Advisory Services (energy audits and savings opportunity identification). The company's go-to-market combines direct enterprise engagement with government and commercial customers, transparent competitive bidding, and a network of ESCO subcontractors (including ENGIE, disclosed as partner on 22 projects) that execute, operate, and maintain the underlying retrofits under Tarshid's project management.

The business model is an outcome-based shared savings model. Tarshid funds the upfront capital costs of energy efficiency measures from its own balance sheet (PIF capital) or through co-financing with qualified partners, and recovers the investment by sharing in the energy bill savings achieved at the customer site over the project term. This structure removes the capital barrier for building owners and aligns Tarshid's revenue to measurable energy and CO2 outcomes. The company operates a wholly-owned subsidiary, Tarshid Solutions, that supports specialized energy services delivery. Operational scale to date includes projects across all 13 Saudi regions, 311 GWh of annual energy savings delivered through ENGIE-partnered projects, 177,000 metric tons of annual CO2 emission reductions, and a 4.5 MW industrial solar deployment underway for TALCO Industrial Company.

Name

The National Energy Services Company (Nesco) - Tarshid

Legal name

The National Energy Services Company

Website

https://Tarshid.com.sa

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

Tarshid is Saudi Arabia's national Super ESCO, wholly owned by the Public Investment Fund. It funds and manages energy efficiency retrofits, streetlight LED programs, rooftop solar PV, and advisory services for government, commercial, and industrial clients across all 13 Saudi regions.

Ownership category

akta.pro rank

Product category

Energy Efficiency Services

NAICS

Solar Electric Power Generation (221114)

SIC

Electric Services (4911)

akta.pro primary industry

Energy & Renewables Specialty Contracting (Solar PV, Storage, EV Charging) (IMAFALAJ)

akta.pro secondary industries

Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK), Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG)

Keywords

• Energy efficiency services
• LED streetlight retrofit
• Building energy retrofit
• Solar PV solutions
• Energy advisory services

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Shared Savings Model: Tarshid finances upfront costs of energy efficiency measures and shares in the energy bill savings as financial return on investments. They utilize their own capital or co-finance with qualified partners.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

The National Energy Services Company (Tarshid) manages, finances, and develops energy efficiency projects for government and commercial clients across Saudi Arabia through four core programs: Streetlights Retrofit, Buildings and Facilities Retrofit, Solar PV, and Energy Efficiency Advisory Services. The company funds upfront project costs using its own capital or co-financing with qualified partners, then recoups investment through a shared savings arrangement tied to reductions in energy bills. Execution is delivered via a network of contracted Energy Services Companies (ESCOs) under Tarshid's direct project management.

Product overview

Tarshid operates as an integrated energy services platform with a modular architecture comprising four core program offerings: Streetlights Retrofit, Buildings and Facilities Retrofit, Solar PV, and Energy Efficiency Advisory Services. These programs work in concert to deliver end-to-end energy efficiency solutions—covering infrastructure retrofitting, renewable energy deployment, and consulting services. The company is wholly owned by Saudi Arabia's Public Investment Fund (PIF) and collaborates with a network of Energy Services Companies (ESCOs) to execute projects. Tarshid Solutions serves as a subsidiary entity supporting the broader portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• Streetlights Retrofit Program Develops, manages, and implements a program for retrofitting street lighting across Saudi Arabia in cooperation with municipalities, ministries, and government entities. Aims to enhance energy efficiency, reduce consumption, standardize technical specifications for locally produced LED streetlights, and set unified standards for street classification nationwide.
• Buildings and Facilities Retrofit Program Manages and finances the retrofit of public facilities and commercial buildings for energy efficiency, exclusively for government projects and competitively for commercial ones. Contracts with Energy Services Companies (ESCOs) to execute, operate, and maintain retrofitting projects while sharing energy bill savings as financial return on investments, allowing building owners to achieve energy efficiency without raising capital.
• Solar PV Program Develops and supports renewable energy solutions from the production side, specifically photovoltaic solar energy on rooftops, to assist in implementing energy efficiency measures.
• Energy Efficiency Advisory Services Provides a holistic suite of advisory solutions to enhance energy efficiency and sustainability, including detailed energy audits to identify energy savings opportunities and guide effective implementation.
• Tarshid Solutions Wholly-owned subsidiary of Tarshid providing specialized energy services solutions; acts as a core operating entity supporting the broader portfolio.

Quantifiable outcome

• 311 GWh annual energy savings delivered through 22 projects
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core and supporting.

• Al Taiseer Group TALCO Industrial CompanycoreStrategic or Co-development Partner · 1 January 2025Tarshid signed a development agreement with TALCO to develop a solar photovoltaic system utilizing approximately 37,000 square meters of rooftop space across four facilities with a system capacity of 4.5 MW. The project supports TALCO's sustainability milestones and the Saudi Authority for Industrial Cities and Technology Zones (MODON) 'Green MODON Initiative'.
• Panda Retail CompanycoreStrategic or Co-development Partner · 1 January 2025Tarshid signed an MoU with Panda Retail Company to increase energy efficiency in Panda's buildings and facilities. The collaboration aims to improve energy efficiency, reduce energy consumption and harmful emissions, and promote sustainability supporting Saudi Green Initiative and Vision 2030 objectives.
• Saudi Energy Efficiency CentercoreStrategic or Co-development PartnerCollaboration on street lighting retrofit program to standardize technical specifications and promote sustainable lighting infrastructure across the kingdom.
• Saudi Standards, Metrology, and Quality Organization (SASO)coreStrategic or Co-development PartnerCollaboration to set unified standards for street classification nationwide and standardize LED streetlight specifications.
• ENGIEcoreStrategic or Co-development PartnerENGIE disclosed 22 energy efficiency projects under the Tarshid partnership that have delivered 311 GWh in annual energy savings and 177,000 metric tons of CO2 emission reductions. ENGIE is Saudi Arabia's largest market in MENA representing 23% of regional installed capacity.
• Saudi Authority for Industrial Cities and Technology Zones (MODON)supportingGTM or Marketing PartnerMODON attended the Tarshid-TALCO agreement signing ceremony. The project supports MODON's 'Green MODON Initiative' encouraging factories within industrial cities to adopt clean energy solutions.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Schneider Electric: Schneider Electric offers global energy management and ESCO services, including building energy efficiency retrofits and advisory services. It operates broadly across industrial, commercial, and institutional customers overlapping Tarshid's target segments.
• Siemens Smart Infrastructure: Siemens offers energy performance services, building retrofits, and grid modernization globally. Its services portfolio overlaps with Tarshid's building retrofit, solar PV integration, and energy advisory programs.
• Veolia Environnement: Veolia provides environmental and energy services to municipalities and industrial clients, including district energy and efficiency programs. It overlaps with Tarshid's municipal and industrial energy services offerings.
• Johnson Controls: Johnson Controls delivers building efficiency, HVAC retrofit, and energy services globally, including performance-based contracting. It is a direct comparable in the building and facilities retrofit ESCO market.
• Honeywell International: Honeywell provides building energy management systems, retrofit solutions, and energy efficiency services globally. It competes in the same hospital, university, and commercial facility retrofit markets Tarshid addresses in Saudi Arabia.
• EDF Energy Services: EDF operates energy services and ESCO activities across multiple geographies, providing energy efficiency, district heating, and on-site generation. It competes in similar public-sector and industrial efficiency contracts globally.

Regional players

• ACWA Power: ACWA Power is a Saudi PIF-affiliated power and water developer operating across MENA. While primarily focused on generation, it represents a comparable Saudi sovereign-backed energy platform with overlapping policy alignment.
• TAQA (Abu Dhabi National Energy Company): TAQA is a UAE-based integrated energy company with power generation, transmission, and distribution. It is a regional peer in Gulf-state energy infrastructure and increasingly active in renewables and efficiency.

Emerging players

• Alfanar: Alfanar is a Saudi-based electrical construction and energy solutions provider with growing renewable energy and efficiency activities. It is an emerging local peer in Saudi retrofit and solar PV contracting.

Direct peers

• ENGIE Solutions: ENGIE is a global ESCO and energy services arm of ENGIE Group, and is Tarshid's publicly disclosed operational partner in Saudi Arabia with 22 active projects. Both operate shared savings and energy efficiency retrofit models for institutional clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Tarshid_KSA
• YouTubeyoutube.com/@Tarshid_KSA
• LinkedInlinkedin.com/company/tarshid

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The National Energy Services Company (Nesco) - Tarshid