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Marathon Digital Holdings and Kenya’s Ministry of Energy and Petroleum Enter Into Agreement
In a groundbreaking move, Marathon Digital Holdings, Inc. (NASDAQ: MARA) has partnered with the Ministry of Energy and Petroleum of the Republic of Kenya (MOEP) to enhance the utilization of energy and optimize renewable energy projects across Kenya. This partnership is set to revolutionize the energy sector in Kenya and drive economic growth.
Joint Steering Committee to Oversee the Project
This collaboration has led to the establishment of a Joint Steering Committee comprised of senior officials from MOEP and Marathon. Together, they will exchange expertise and information to maximize the efficiency of renewable energy projects in the region. The projected foreign investments from this partnership are expected to exceed $80 million, bringing substantial benefits to Kenya’s economy.
Marathon’s Commitment to Sustainable Growth
Marathon’s CEO, Fred Thiel, emphasized the company’s dedication to sustainable growth in the energy sector. This partnership with the Kenyan government is a significant milestone for Marathon as it expands its global operations and fosters innovative energy solutions in the region.
First Direct Collaboration with a Government
While Marathon has previously operated in the UAE and Paraguay, this agreement marks the company’s first direct collaboration with a government to enhance energy infrastructure. This demonstrates the value of Marathon’s solutions and paves the way for future collaborations to scale its international business.
The signing of the agreement took place at the US Chamber of Commerce, where Fred Thiel and Hon. Musalia Mudavadi, E.G.H., sealed the deal, setting the stage for a new era of energy development in Kenya.
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