US solar engineering, procurement and construction (EPC) firm SOLV Energy has issued its initial public offering (IPO) on the Nasdaq Global Select Market, priced at US$25 per share.
The company is offering 20,500,000 shares of its Class A common stock. The offering went live on the Nasdaq exchange yesterday (11 February) under the ticker MWH and is expected to close today.
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Jefferies and J.P. Morgan are acting as joint lead book-running managers for the offering.
SOLV Energy has become one of the leading EPC firms in the US solar sector and was ranked as the top solar EPC by global capacity in 2024 by Wiki-Solar.
In May 2025, the company announced plans to build 6GW of solar PV and energy storage projects across Arizona, California, Mississippi, Nevada, Oregon and Texas on behalf of some of the US’ biggest project developers.
Over the last year, the firm has expanded its business through strategic acquisitions. In January 2025, it bought Sacramento Drilling Inc, which specialises in piling and drilling foundations for solar installations, and in June it acquired Spartan Infrastructure, a high-voltage transmission contractor. These additions broadened out SOLV Energy’s EPC offering, bringing greater expertise and capability in house and expanding its market influence.
