ProPetro, Caterpillar Partner on Multi-Year Power Buildout Through 2032

Caterpillar Inc. (NYSE:CAT) is included among the 10 Innovative Dividend Stocks to Buy Right Now.

ProPetro, Caterpillar Partner on Multi-Year Power Buildout Through 2032

On April 29, ProPetro Holding Corp. said its PROPWR unit has entered into a strategic framework agreement with Caterpillar Inc. (NYSE:CAT). The deal covers up to 2.1 gigawatts of power generation assets. The goal is to meet growing energy demand from data centers, oil and gas operations, and industrial users, with a focus on efficiency and reliability.

Under the agreement, PROPWR will purchase at least 1.5 GW of additional power generation assets. There is also an option to increase that figure to around 2.1 GW over the next five years. Including the roughly 550 megawatts already ordered, PROPWR is expected to reach about 2.6 GW of capacity by the end of 2031. Full deployment is planned for 2032.

In the early 1900s, Caterpillar introduced the first practical track-type tractor, known as a crawler. It changed how construction and earthmoving work was done, especially on rough terrain where traction mattered. The company is often viewed as one of the more innovative dividend-paying names.

Caterpillar Inc. (NYSE:CAT) manufactures construction and mining equipment, along with off-highway diesel and natural gas engines. It also produces industrial gas turbines and diesel-electric locomotives. Its business is organized into Construction Industries, Resource Industries, and Power & Energy.

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