APR Energy and Hertz Dayim Equipment Rental, the joint venture between Hertz Equipment Rental Corp. and Dayim Holdings Company Ltd. have formed a partnership agreement to develop business for fast-track power solutions in Saudi Arabia. The agreement provides APR Energy with immediate access to one of the largest power markets in the Middle East by leveraging Hertz’ business network, global brand name and established industry experience within the country, and offers Hertz Dayim Equipment Rental access to APR’s modern fleet of diesel and natural gas reciprocating engines and dual-fuel turbines.
The Saudi power market offers great growth potential, with plans to increase generating capacity from 55GW to 120GW by 2020 in order to meet rising demand. Saudi Arabia has the fifth-largest natural gas reserves in the world, but has yet to fully utilize its natural gas potential, providing opportunities for both gas reciprocating engine and dual-fuel turbine technologies.
“We are pleased to expand our equipment rental portfolio with large-scale power solutions for our utility, construction and industrial customers in Saudi Arabia through the APR Energy and Hertz Dayim Equipment Rental partnership,” said Lois Boyd, HERC group president. “With APR Energy’s leading-edge power solutions, our customers will have access to cost-efficient, reliable electricity on a fast-track basis, along with dedicated project management support.”
“With the Saudi construction and industrial sector growing at such a fast pace, the demand for power is outstripping supply and there is a big market for power solutions,” said Prince Khalid bin Bandar bin Sultan, chairman of Hertz Dayim Equipment Rental. “APR Energy is a global leader in fast-track power generation solutions, and their line of business has significant synergies with our existing equipment rental business in Saudi. It is a strategic step for our business, towards providing a one-stop solution to the utility, construction and industrial sector in Saudi, for all their equipment and power needs.”
Following the opening of its regional hub in Dubai in 2012, APR Energy has executed successful power projects in Oman and Yemen, and earlier this year signed a 250MW contract for mobile gas turbines in Libya.
APR Energy CEO John Campion said the partnership with Hertz Dayim Equipment Rental would provide mutually beneficial prospects. “Saudi Arabia is a high-priority market for APR Energy, and is a key part of our growth strategy for the Middle East,” he said. “Hertz Dayim Equipment Rental, together with its established operations and strong connections in the KSA, gives us a strong partner with whom we can very quickly access this important market.”
Hertz Dayim Equipment Rental has been operating in Saudi Arabia since January 2011.
