The company "BB Solar", partly owned by Blažo Đukanović, son of the former President and Prime Minister of Montenegro and former leader of the Democratic Party of Socialists (DPS), Milo Đukanović, was paid over 1,6 million euros from the state treasury last year, and from the positions of the Ministry of Public Works, the Action for Social Justice (ASP) announced today.
"In the previous year, i.e. in 2024, 'BB Solar' reported turnover with the then Capital Projects Administration (today the Ministry of Public Works) in the amount of over 1,2 million euros. 'BB Solar's' potential revenues from state contracts in the past two years, which are financed from the capital budget, and in which it appears as a subcontractor, are not publicly known," the ASP statement said.
The non-governmental organization (NGO) added that BB Solar's core business is the installation of electrical installations, and that in 2021, it expanded its scope of business to include the performance of all construction works.
"The company was issued a new five-year license for a designer and contractor by the Ministry of Spatial Planning in March last year. The company has been participating in various state tenders for years, while in the first years of its operations in several public procurements (Capital City of Podgorica, Electric Power Company of Montenegro) it was a subcontractor in jobs won by 'Bemax', while it also took 'a piece of the cake' on the first section of the Smokovac-Mateševo highway, where it introduced 'Novi Volvox' as a subcontractor," the ASP statement reads.
The NGO said that for years, the company "BB Solar" had also received favorable credit/factoring arrangements from the state-owned Investment and Development Fund (today the Development Bank of Montenegro).
"In 2024, 'BB Solar' reported net income from the sale of goods and services of around 14 million euros, and retained earnings at the end of the year amounted to two and a half million euros. That year, the affiliated company 'BB Invest Group' received a loan of over 6,1 million for the construction project of the 'Wolf' hotel in Kolašin. According to public data, the hotel opened last year," ASP said.
They state that in addition to the business in Kolašin, the company "BB Invest Group" also has a location in Podgorica, in Zabjelo, where the land is mortgaged for a loan of four million from Hipotekarna Banka.
"Several individuals and companies appear as mortgage debtors, and among the debtors are the companies 'Bemax' and 'Master Inženjering', which was previously mentioned in connection with the 'No Man's House' affair in Gorica and its actual ownership. The younger Đukanović also owns the company 'BB Hidro', which produces electricity from a small hydroelectric power plant and receives preferential prices from consumers, thanks to a concession that was once approved by the government of the Democratic Party of Socialists," said the ASP.
The NGO says that they previously stated that the company "Capital Invest", which was transferred to Blaž Đukanović from his father, in just two years, acquired the right to a million-dollar dividend from another related company, "Kodio", in which he has a share of ownership.
"The company 'Kodio' was founded in 2018, Blaž's 'Capital Invest' bought its share for less than a euro less than a month after its founding, and already that year the company generated revenue of two million euros. By the end of 2023, including 2018, i.e. in just six years, the company 'Kodio', which deals with information services, generated revenue of almost 74 million euros. By the end of 2023, it had accumulated 7,3 million euros in profit," ASP said.
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