Italian company Renexia and Montenegro’s Sistem-MNE have signed a memorandum of understanding covering 1.2 billion euros in planned energy projects in Montenegro. The agreement was signed on the sidelines of the AIM 2026 Montenegro Investment Conference in Portonovi; Toto Holding, Renexia’s parent group, disclosed details on 21 October.
The planned portfolio includes wind farms and solar power plants. Renexia is part of Italian group Toto Holding, while Sistem-MNE develops energy projects in Montenegro. The new document brings a specific Montenegrin business partner into the cooperation, unlike an earlier memorandum between Renexia and the Montenegrin government.
That government memorandum was signed in April this year and focused on encouraging renewable energy development and new industrial investment in wind and solar power. The partnership with Sistem-MNE is intended to widen the portfolio of energy facilities and increase Montenegro’s capacity to generate electricity from renewable sources.
Projected output and cross-border links
Projections in the investment memorandum indicate that electricity production from the planned facilities could reduce carbon dioxide emissions by about 497,000 tonnes a year. Construction could also create up to 1,000 jobs across the industrial supply chain, involving specialists and companies from Montenegro and Italy.
Those emissions and employment figures are estimates, and their final scale will depend on further project development and execution. The memorandum does not confirm that all the investments have been contracted or secured financially. The actual value of projects delivered will depend on the companies’ next steps.
The planned investment is connected to the existing electricity link between Montenegro and Italy, which includes a subsea power cable. Toto Holding has pointed to the possibility of a future expansion of that cable, alongside increased renewable generation on the eastern Adriatic coast.
Renexia Chief Executive Riccardo Toto described the agreement as a continuation of an industrial strategy focused on clean energy production, security of supply and stronger links between European energy infrastructure. “Energy cooperation between Italy and Montenegro represents a strategic opportunity for our two countries and all of Europe,” he said.
Toto also highlighted renewable energy development on both sides of the Adriatic and the gradual strengthening of cross-border electricity connections as relevant to Europe’s energy transition. In the company’s view, more generation capacity and stronger connections could contribute to a more integrated and competitive European electricity market, while strengthening the Adriatic region’s position as a strategic energy area.
The companies have not disclosed individual project locations, construction start dates, financing structures, sources of capital or investment phases. The memorandum therefore sets out planned cooperation, while the scale and timing of any construction remain dependent on subsequent project development and implementation.
