Altaaqa and AFC Energy signed a Memorandum of Understanding (MoU) that will bring together the two companies’ extensive experience to support the transition of the region’s power generation industry to zero emission solutions using AFC Energy’s hydrogen fuel cell technology.
Altaaqa is a Zahid Group company that has two decades of experience in generating turnkey power and water solutions in the Kingdom of Saudi Arabia and globally. Altaaqa owns and operates one of the world’s largest mobile power modules rental fleets, with a total capacity of 2 gigawatts (GW). The company provides temporary and off-grid power solutions to oil & gas, power utilities, mining, military, manufacturing, data centers, construction and government services sectors.
The MoU forms the basis of a long-term partnership which will cover the region, with the aim of gaining market leadership for reliable and safe, “hydrogen-to-power” solutions for various industry segments and applications.
This agreement solidifies Altaaqa’s and Zahid Group’s commitment to leading the way in the transition to sustainable fuels by being a leading participant in the development of the Kingdom’s hydrogen economy and ecosystem. This commitment further aligns the Zahid Group’s tireless efforts with the Kingdom’s Vision 2030 objective of reducing its reliance on fossil fuels. The agreement comes shortly after His Royal Highness Crown Prince Muhammad Bin Salman Bin Abdulaziz Al Saud unveiled the Saudi Green Initiative and the Green Middle East Initiative that will significantly contribute to achieving global targets in confronting climate change. The Saudi Green Initiative is targeting a 60% reduction in the region’s carbon emissions.
The signing ceremony also provided an opportunity to highlight the beneficial role that sport can play in highlighting the global climate emergency. The agreement was signed at Extreme E’s inaugural X Prix – the Desert X Prix – held in AlUla, Saudi Arabia. Extreme E has been designed to highlight the most important climate issues of our generation and to showcase technologies that can accelerate global decarbonisation efforts.