Altaaqa Global targets 700-750 MW fleet by 2019
27 June 2013
Altaaqa Global, the Dubai-based international power projects business established by Saudi Arabia caterpillar dealer Zahid Tractor, plans to have a 700-750 MW power rental fleet within five to six years.
Peter den Boogert, the former general manager of Rental Solutions & Services (RSS) who joined Altaaqa Global in May 2012 as global business development director, told IRN; “It’s the first company outside of Saudi Arabia for Zahid. But being a Cat dealer it is already used to working with multi-national customers.
"The step to Dubai was not difficult, but it’s a significant one. They really believe in what we are doing, and they have a well thought-out business plan.”
Altaaqa Global will target large power projects outside Saudi; “We’re concentrating on the Middle East and Africa…but we have the IPP licence from Cat to go global, so if there are opportunities in South America or Asia, we will surely go there.”
Mr den Boogert said its diesel generators will be the most efficient of any large IPP rental player, and he added that Altaaqa aims also in the future to compete with Aggreko’s recently launched HFO (heavy fuel oil) gensets.
“We have started a programme – in the very preliminary stages – for HFO. We are looking at it, and might have it within a year...They [Aggreko] have an HFO engine, but not at the scale that we are looking at.”
Mr den Boogert said the new business would benefit from the strength of the Zahid group; “We have the financial capacity. The Zahid family does not get into adventures. That gives both parties – us and our customers – a lot of confidence.”
See the July-Aug issue of IRN for the full interview with Mr den Boogert.
