SOLV Energy Inc, a United States-based contractor specialising in solar energy infrastructure, battery storage and related transmission construction, has launched an initial public stock offering raising $512.5 million (€430.5 million) with market value exceeding $5 billion (€4.2 billion), according to Engineering News-Record.

The San Diego company sold 20.5 million shares on 11 February, trading on the Nasdaq Exchange under ticker symbol MWH. Funds will be used for debt repayment and potential merger and acquisition opportunities. The firm ranks at number 66 on ENR's Top 400 Contractors list, number two in solar project work and number seven in power construction overall.

SOLV Energy reported net income of $114 million (€95.76 million) on $1.7 billion (€1.43 billion) revenue for 2025 ending 30 September related to sector engineering, procurement and construction work alongside operations and maintenance, compared to net income of $139,000 on revenue of $1.4 billion (€1.18 billion) the previous year. The company noted $6.7 billion (€5.63 billion) in backlog.

George Hershman, CEO, told Barron's that projections are always correct looking backward, but 18 years in the business demonstrate consistent outperformance of projections. He sees strong demand for services, with solar and batteries set to comprise two-thirds of new power generation over the next decade.

The contractor has built more than 20 gigawatts of solar capacity across approximately 30 states since 2008, constructing over 500 power plants representing 20 gigawatts of generating capacity. The firm was spun off from Swinerton Construction in a $2 billion private equity deal in 2021.

Former private equity owner American Securities will remain the majority shareholder.

Access complete details on SOLV Energy's public offering and market positioning in the full article.