I have a repository with library. It could be successfully cloned.
$ git clone file:////remote/repo/library
$ cd library
$ composer validate
./composer.json is valid, but with a few warnings
But it seems that this repostory cannot be used via a composer inclusion.
...
"repositories": [
    {
        "type": "git",
        "url": "file:////remote/repo/library"
    }]
 ...
Trying to install
$ composer install -vvv
... 
Loading composer repositories with package information
Executing command (//remote/repo/library): git show-ref --tags
Executing command (//remote/repo/library): git branch --no-color --no-abbrev -v
Executing command (//remote/repo/library): git branch --no-color
Executing command (//remote/repo/library): git show "master":composer.json
  [Composer\Repository\InvalidRepositoryException]
  No valid composer.json was found in any branch or tag of 
  file:////remote/repo/library, could not load a package from it.
...
How to use a remote repository on windows with a composer?