Marathon Enters Agreement with Kenyan Government to Enhance Its Renewable Energy Sector
Marathon Digital Holdings has entered into an agreement with the Ministry of Energy and Petroleum of the Republic of Kenya (MOEP) to "support the utilization of energy and to optimize renewable energy projects across the Republic of Kenya."
- "Under the terms of the agreement, MOEP and Marathon will exchange policy, scientific, and technical information, as well as project investment expertise, to better understand how to optimize renewable energy projects that produce surplus energy due to intermittency and seasonal variations," was stated in the press release.
"While Marathon has already successfully established operations in the UAE and Paraguay, this agreement marks the first direct collaboration with a government to enhance their energy infrastructure," commented Manoj Narender Madnani, Marathon’s managing director of the EMEA region.
- A Joint Steering Committee comprising MOEP and Marathon senior officials will oversee energy project development across Kenya, with projected foreign investments exceeding $80 million, poised to boost the economy and generate revenue for the local energy sector.
- “This agreement with the Ministry of Energy and Petroleum is a pivotal moment for our business as it provides us with a clear framework to pursue opportunities across the Republic of Kenya,” said Fred Thiel, Marathon’s chairman and CEO.
