Global machinery manufacturer Caterpillar Inc and Saudi Arabia’s Zahid Group have signed a new international power projects (IPP) agreement.
Under the agreement, Altaaqa Global, a recently-formed subsidiary of Zahid Group, will provide multi-megawatt temporary power solutions around the world, supported by partnerships within the worldwide Cat dealer network.
Zahid Group company Altaaqa Alternative Solutions was launched in 2004, becoming the world’s largest fleet owner of Cat Rental Power, with over 750MW in its inventory, said Fahad Y Zahid, executive vice president of Zahid Group.
“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.”
The new unit will be based in Dubai, and will provide fast-track and large-scale temporary power supplies from 20MW to 100MW.
The agreement was signed by Fahad Zahid and Bill Rohner, vice president of Electric Power at Caterpillar, watched by executives that included Caterpillar group president Stuart Levenick.
“Zahid Group has demonstrated a proven track record of excellent customer service for more than 60 years,” said Rohner.
“Having them as a strategic partner will help expand Caterpillar’s evolving role in the IPP market.”
Peter den Boogert, general manager, business development of Altaaqa Global said that customers would benefit from its temporary power plants which are mobile, easy to deploy and quick to install.
“We can intelligently generate electricity within weeks in Africa, the Middle East, Latin America, Asia and the Pacific,” said Boogert.
