UAE, Montenegro establish strategic green energy partnership

A new agreement between the UAE and Montenegro will facilitate connecting the energy sector with financial technologies and artificial intelligence. The two countries are also considering to deploy solar, wind, hydropower, green hydrogen and battery projects.

The United Arab Emirates and Montenegro agreed to cooperate in the energy sector, setting up a bilateral strategic partnership for the development of renewables, modern energy infrastructure and advanced technologies. The deal envisages joint contribution to projects of strategic significance to Montenegro from solar, wind and hydropower plants to the application of battery energy storage systems and the development of the green hydrogen technology.

Minister of Energy and Mining Admir Šahmanović signed the agreement with UAE’s Minister of Energy and Infrastructure Suhail Mohamed Al Mazrouei. Montenegrin Prime Minister Milojko Spajić and the President of the UAE Mohamed bin Zayed al-Nahyan attended the ceremony.

Montenegro aspires to become digital hub

The agreement is especially significant for connecting the energy sector with financial technologies and artificial intelligence, the Ministry of Energy and Mining of Montenegro said. The country is aspiring to position itself as a regional hub for innovation, digital transformation and the energy transition, it added.

Within their strategic partnership, the two countries are looking to establish a fintech and AI council. It would consist of representatives of the public and private sector and work on the development of innovative solutions, attracting investments and strengthening the domestic economy through the implementation of progressive technologies.

Joint vision of sustainable development, energy security

The agreement is a new step in the partnership between Montenegro and the UAE, founded on a joint vision of sustainable development, energy security and economic progress, the ministry pointed out.

“The partnership confirms that foreign partners recognize Montenegro as a safe and attractive place for investment in energy and advanced technologies. Our goal is to, through cooperation with the United Arab Emirates, open a new chapter in the development of renewable energy sources, digital infrastructure and innovation,” Šahmanović stressed.

The agreement will facilitate faster materialization of projects strengthening energy security and contributing to the decarbonization of the economy and job creation in the sector of the future, the ministry said.