The Governments of Montenegro and the United Arab Emirates (UAE) are set to sign an intergovernmental agreement this week to strengthen cooperation in the energy sector, focusing on renewable energy, infrastructure development, financial technologies (fintech), and artificial intelligence (AI).
According to the draft agreement reviewed by Vijesti, Montenegro will commit to securing land for project development within designated “development zones,” where permitted by law, without conducting concession, tender, or public procurement procedures. The government will also be responsible for developing necessary public infrastructure and preparing planning documentation in coordination with UAE authorities or their joint ventures.
The agreement envisions joint strategic projects in solar, wind, and hydropower generation, as well as hybrid renewable solutions and battery storage systems. It also includes the modernization and expansion of Montenegro’s energy infrastructure to support efficiency, decarbonization, and energy security.
The document states that each side will appoint bodies to evaluate, implement, and oversee projects, authorized to negotiate and sign specific agreements on behalf of their respective governments. These projects will comply with Montenegrin law, except in cases involving concessions, public procurement, or tender procedures.
The accord will be signed by Montenegro’s Minister of Energy and Mining, Admir Šahmanović, and the UAE Minister of Energy and Infrastructure, Suhail Mohamed Al Mazrouei. The Montenegrin delegation will be led by Prime Minister Milojko Spajić.
The agreement will remain in force for five years, automatically renewing for additional five-year terms unless terminated by either party through written diplomatic notice.
