Altaaqa Global And Caterpillar Inc Sign IPP Agreement
Altaaqa Global will provide temporary power solutions around the world supported by the Cat® dealer network.
Caterpillar Inc. has entered into an international power projects (IPP) agreement with 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 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 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.”