Revenue
48.1% of sector revenue
128 companies earned 448.68m€ in 2025, 48.1% of Energy, water & waste sector revenue. Revenue has grown 1.8× since 2015.
48.1% of sector revenue
94 with at most one employee
Largest employer: Elektroprivreda Crne Gore (1,170)
Not shown: one company carries more than half of the profit or loss
Average per employee, not per company
Revenue in € million (bars) and filing companies (below), 2015–2025
Revenue change vs 2024, companies with at least 1m€ that year
Ranked by total revenue · Showing 51–100 of 128
* Avg payroll cost per employee per month = wages, wage compensation and other personnel expenses from the income statement (AOP 211: net wages, taxes and contributions on wages including the employer's, and other personnel expenses) / employees / 12. It is not an employee's gross or net salary; reporting errors can move it significantly, and values below 300€ a month are not shown. How we calculate →
Not shown: one company carries more than half of the profit or loss. The aggregate margin is not shown when fewer than 5 companies have one, or when one company carries more than half of the summed profit and loss; use the median margin and the profitable share instead. Profits that cannot be reconciled with revenue and payroll are left out.
The activity title is the code's title in the KD 2010 classification (NACE Rev. 2), which applies to every year shown. The registry now shows titles from the new classification for the same codes, so titles can differ.
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 248,705,870€ | 49 |
| 2016 | 251,323,568€ | 56 |
| 2017 | 263,420,156€ | 61 |
| 2018 | 322,385,039€ | 59 |
| 2019 | 339,384,370€ | 58 |
| 2020 | 358,044,490€ | 60 |
| 2021 | 428,395,797€ | 64 |
| 2022 | 570,102,160€ | 93 |
| 2023 | 546,648,568€ | 107 |
| 2024 | 469,662,480€ | 126 |
| 2025 (Preliminary) | 448,679,522€ | 128 |
The number of companies jumped most in 2022: from 64 to 93.
Employees and payroll cost per employee per month*
<0.1% |
| 211€ |
| No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. |
| -40,474€ |
| Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. |
| 1 |
| 1,318€ |
| 53 | Green Solutions02944464 · Podgorica | <0.1% | 13€ | +1,200.0% | -20,536€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 1,257€ |
| 54 | N103454240 · Podgorica | <0.1% | 8€ | -100.0% | -558,033€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 3 | 2,080€ |
| 55 | Koljeno Solar03728668 · Podgorica | <0.1% | 2€ | No filing for 2024. | -49,751€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 624€ |
| 56 | Unipan Green03478106 · Podgorica | <0.1% | 1€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -10,932€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | — |
| 57 | Trio Energia03690571 · Bar | <0.1% | 1€ | 0.0% | -129,410€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 929€ |
| 58 | Agenos Energy03490190 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -134,780€ | — | 1 | 6,013€ |
| 59 | Barsolar03105911 · Bar | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,319€ | — | 1 | 935€ |
| 60 | BP Hydropower03099903 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -5,529€ | — | 1 | 454€ |
| 61 | Bse03501680 · Rožaje | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 0€ | — | — | — |
| 62 | Beri Solar03589595 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -4,162€ | — | 1 | — |
| 63 | BSP Investment Montenegro03490866 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -3,396€ | — | 1 | — |
| 64 | C&S Energy03136647 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -424,570€ | — | 1 | 645€ |
| 65 | Solar03710467 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -3,950€ | — | 1 | — |
| 66 | Dekar Hidro02811502 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -4,944€ | — | 1 | 406€ |
| 67 | Ee Korita03492257 · Bijelo Polje | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -115,142€ | — | 1 | 4,215€ |
| 68 | Ee Tupan03640337 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -25,050€ | — | 1 | — |
| 69 | Electron Holding Montenegro03519660 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -17,603€ | — | 1 | 925€ |
| 70 | Energija Vjetra03564096 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,025€ | — | 1 | — |
| 71 | Gorana Energy03650910 · Bar | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -35,481€ | — | 1 | — |
| 72 | Hydro Energy02807220 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -4,524€ | — | 1 | 370€ |
| 73 | Kosanica Solar03568083 · Pljevlja | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,353€ | — | 1 | — |
| 74 | MB Solar03710475 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -7,556€ | — | 1 | — |
| 75 | MN Power03021530 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,197€ | — | 1 | 929€ |
| 76 | Nordic Energy Potencijal02781352 · Kolašin | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -4,914€ | — | 1 | 338€ |
| 77 | PD Solar03737110 · Podgorica | 0.0% | 0€ | No filing for 2024. | -3,148€ | — | 1 | — |
| 78 | Qair Briska Gora03450562 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,047€ | — | 1 | 316€ |
| 79 | Qair Rudine03607011 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,619€ | — | 1 | 393€ |
| 80 | Quattro Solari Iii03644553 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -60€ | — | 1 | — |
| 81 | Quattro Solari i03644588 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -200€ | — | 1 | — |
| 82 | Quattro Solari Iv03644570 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -240€ | — | 1 | — |
| 83 | Sasovići Solar03724255 · Herceg Novi | 0.0% | 0€ | No filing for 2024. | -8,045€ | — | 1 | 523€ |
| 84 | Se Grabovac03442152 · Kotor | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -40,249€ | — | 1 | — |
| 85 | Solar Electro03560597 · Nikšić | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,877€ | — | 1 | 450€ |
| 86 | Solar Hill03802442 · Budva | 0.0% | 0€ | No filing for 2024. | -602€ | — | 1 | — |
| 87 | Solar Impact Montenegro03497160 · Danilovgrad | 0.0% | 0€ | No filing for 2024. | -16€ | — | 0 | — |
| 88 | Solar Power03325962 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -101,681€ | — | 1 | 4,003€ |
| 89 | Soluno03704637 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -20,544€ | — | — | — |
| 90 | Somsol03470911 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,058€ | — | 1 | — |
| 91 | Sun Horizon03457109 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -67,152€ | — | 1 | 539€ |
| 92 | Sunray03471292 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -23,695€ | — | 1 | 1,802€ |
| 93 | Sunrise Europe03493628 · Kotor | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -22,763€ | — | 1 | — |
| 94 | Taraenergo02828081 · Mojkovac | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -4,071€ | — | 1 | 338€ |
| 95 | Terra Solar03581659 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -4,137€ | — | 1 | — |
| 96 | TM Energy03322424 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -16,015€ | — | 1 | 1,299€ |
| 97 | Torac-Solar03690849 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,020€ | — | 1 | — |
| 98 | Res Adria Group03367738 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -30,541€ | — | 1 | 595€ |
| 99 | Res Montenegro Group03389251 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -12,496€ | — | 1 | 337€ |
| 100 | MNM Solar DK03799603 · Berane | 0.0% | 0€ | No filing for 2024. | -1,197€ | — | 1 | — |