Zahid and Caterpillar sign worldwide power rental deal

Caterpillar and Saudi Arabia’s Zahid Group have signed an agreement making Zahid’s new subsidiary Altaaqa Global a Caterpillar partner for international power projects (IPP) worldwide.

Zahid Group is Caterpillar dealer in Saudi Arabia and has had a strong power rental business in the Kingdom since it established Altaaqa Alternative Solutions in 2004. The creation of Altaaqa Global, based in Dubai, will see Zahid attempt to take its power rental business to a worldwide market, working in partnership with other Caterpillar dealers.

“We have been successfully serving our customers within the Kingdom of Saudi Arabia since our inception,” said Fahad Y Zahid, executive vice president of Zahid Group.

“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 750 MW 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.”

Altaaqa Global will focus on large-scale temporary power contracts from 20 MW to 100 MW and more, offering gas, diesel or dual fuel technology to sectors including oil and gas, power utilities, mining, government services, military, manufacturing and construction.

This is one of several agreements that Caterpillar has reached with IPP rental companies. In recent years it has signed similar dealers with APR Energy, Energyst, Energy International and APac Energy Rentals.

Bill Rohner, vice president of Electric Power at Caterpillar, said having Zahid Group as a partner would help expand Caterpillar’s role in the IPP market.

Peter den Boogert, Altaaqa’s general manager, business development, said the company was able to generate electricity “within weeks in Africa, the Middle East, Latin America, Asia and the Pacific.”