Altaaqa Global and Caterpillar sign power deal
Firms set to provide multi-megawatt temporary power solutions
Caterpillar Inc and Zahid Group – which recently created a new subsidiary firm, Altaaqa Global – have agreed an international power project agreement. Under the deal, Altaaqa will provide multi-megawatt temporary power projects with the support of the worldwide Cat dealer network.
“We have been successfully serving our customers within the Kingdom of Saudi Arabia since our inception. 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 strengthen our position as a leading provider of turnkey temporary power solutions, now at a global level,” said Zahid Group executive vice president, Fahad Zahid.
Altaaqa Group is based in Dubai, and says it can offer fast-track and large-scale power solutions with output capacities from 20 MW to over 100 MW. The firm is targeting sectors including power utilities, oil & gas, government services and construction.
Altaaqa Group managing director, Steven Meyrick, said: “Caterpillar’s global presence and Altaaqa Global’s temporary power expertise is a powerful synergy, Bringing power to solutions is what we are offering. Bring power where it is needed, when it is needed.”