March 7 (SeeNews) - Montenegrin solar array builder EPCG Solar Gradnja said its revenue rose 84% on the year in the first two months of 2024, reaching 933,000 euro ($1.0 million) - 23% above plan.
At the same time, costs fell 15% on the year to 972,000 euro in the January-February period and were 6% lower than planned, the company said in a statement on Wednesday.
The company was unable to work at full capacity in winter due to unfavourable weather conditions but plans to increase revenue starting in March and end 2024 with a profit.
In January-February, EPCG Solar Gradnja carried out 499 solar panel installations of an overall 3.73 MW capacity with 39 teams of technicians. In comparison, in the same two months of last year, it implemented 472 installations of an overall 3.71 MW with 60 operational teams.
EPCG Solar Gradnja specialises in the supply, design, installation and maintenance of photovoltaic systems. The company is owned by state-controlled power utility Elektroprivreda Crne Gore (EPCG).
($ = 0.920 euro)