30 May 2013 – Caterpillar has entered into a five-year international power projects (IPP) agreement with the 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 serving our customers within the kingdom of Saudi Arabia since our inception,” Fahad Zahid, executive vice president of the Zahid group, says. “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 more than 750 MW in its inventory. Through this IPP agreement, our new subsidiary, Altaaqa Global, will enable us to strengthen our position as a provider of turnkey temporary power solutions, now at a global level.”
Bill Rohner, vice president of Electric Power at Caterpillar says, “Having them as a strategic partner will help expand Caterpillar’s evolving role in the IPP market.”
Based in Dubai, United Arab Emirates, Altaaqa Global will provide fast-track and large-scale temporary power solutions from 20 MW to 100 MW and more, offering gas, diesel or dual fuel technology to various sectors such as oil and gas, power utilities, mining, government services, military, manufacturing and construction.