Caterpillar, Altaaqa sign deal on power plants for hire
DUBAI—Caterpillar Inc. and Altaaqa Global, a new subsidiary of the Zahid Group, signed an international power projects (IPP) agreement to provide multi-megawatt temporary power solutions around the world, supported by partnerships within the worldwide Cat® dealer network.
Altaaqa representatives have met with Philippine government officials and electricity cooperatives in Mindanao to present hired temporary power plants as an “immediate solution to their short-term power problems.”
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 and gas, power utilities, mining, government services, military, manufacturing and construction.
Having served clients in Saudi Arabia, the Zahid Group launched Altaaqa Alternative Solutions in 2004, catering to local needs. It 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,” explained Fahad Y. Zahid, executive vice president of Zahid Group.
“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.”
