|Altaaqa Global And Caterpillar Inc Signs IPP Agreement|
Dubai, UAE – Caterpillar Inc. has entered into an international power projects (IPP) agreement with Zahid Group, which recently formed a new subsidiary company, Altaaqa Global. As an IPP partner, Altaaqa Global will provide multi-megawatt temporary power solutions around the world, supported by partnerships within the worldwide Cat® dealer network.
“We have been successfully serving our customers within the Kingdom of Saudi Arabia since our inception,” said Fahad Y. Zahid, Executive Vice President of Zahid Group. “In 2004, catering to local needs, we launched Altaaqa Alternative Solutions , which later became the world’s largest fleet owner of Cat Rental Power with over 750MW in its inventory. Through this IPP agreement, our new subsidiary, Altaaqa Global, will enable us to strengthen our position as a leading provider of turnkey temporary power solutions, now at a global level.”
“Zahid Group has demonstrated a proven track record of excellent customer service for more than 60 years,” said Bill Rohner, Vice President of Electric Power at Caterpillar. “Having them as a strategic partner will help expand Caterpillar’s evolving role in the IPP market.”
“Caterpillar’s global presence and Altaaqa Global’s temporary power expertise is a powerful synergy,” said Steven Meyrick, Managing Director of Altaaqa Global. “Bringing power to solutions is what we are offering. Bringing power where it is needed, when it is needed.”
“Our temporary power plants are mobile, easy to deploy and quick to install,” said Peter den Boogert, General Manager, Business Development of Altaaqa Global. “We can intelligently generate electricity within weeks in Africa, the Middle East, Latin America, Asia and the Pacific.”
Based in Dubai, United Arab Emirates, Altaaqa Global will provide fast-track and large-scale temporary power solutions from 20MW to 100MW and more, offering gas, diesel or dual fuel technology to various sectors such as oil & gas, power utilities, mining, government services, military, manufacturing and construction. The company aims to serve its customers with engineered solutions tailored to the specific requirements of each industry. Highly experienced Cat power generation consultants along with a specialized power generation team from Altaaqa Global are fully aligned right from the planning phase, ensuring that the technical and logistical aspects of projects are addressed both effectively and efficiently.
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