The leading contractor of the CECEP Solar Energy project in the United States, SOLV Energy (MWH.US), has submitted an IPO application with an expected fundraising scale of $750 million.

SOLV Energy (MWH.US), a company specializing in the construction of CECEP Solar Energy and energy storage battery projects, submitted an initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) last Friday. It is estimated that the fundraising scale for this IPO could reach $750 million or more. Formerly known as Swinerton Renewable Energy, SOLV Energy underwent a rebranding after being acquired by American Securities in 2021. As a leading supplier of infrastructure services in the energy and power industry, the company's business covers the entire chain of engineering design, equipment procurement, project construction, testing and commissioning, operation and maintenance, as well as energy facility refurbishment and upgrades. The company focuses on large-scale utility-grade CECEP Solar Energy and energy storage battery projects with a direct current power of 200 megawatts or more, as well as the construction of supporting transmission and distribution infrastructure. Since its establishment in 2008, SOLV Energy has completed over 500 power plants with a total installed capacity of 20 gigawatts of direct current power; currently, it provides operation and maintenance services for 146 power plants under long-term agreements. According to 2024 revenue data, SOLV Energy ranks second in the U.S. CECEP Solar Energy engineering contracting field and seventh in the overall U.S. energy and power engineering contracting market. The company, headquartered in San Diego, California, was founded in 2008. In the 12 months ending September 30, 2025, the company achieved sales of $2.1 billion. The company plans to list on the Nasdaq under the stock symbol "MWH," having previously submitted a confidential IPO filing on May 9, 2025. The main underwriters for this IPO are Jefferies Financial Group Inc. and J.P. Morgan, with KeyBanc Capital Markets, Drexel Securities, UBS Group AG Investment Bank, Baird, Evercore ISI, Guggenheim Securities, Nomura Securities, WR Securities, CIBC World Markets, and Roth Capital jointly serving as book managers. Currently, the pricing terms for this offering have not been publicly disclosed.