SOLV Energy (MWH) priced its IPO at $25.00 – the top of its $22.00-to-$25.00 range – and sold 20.5 million shares – the number of shares in the prospectus – to raise $512.5 million on Tuesday night, Feb. 10, 2026. San Diego-based SOLV Energy, a leading U.S. solar power plant contractor and builder of battery storage projects, had a market cap of about $5 billion at pricing. (Editor’s Note: This column, published Tuesday night, Feb. 10, 2026, was updated early Wednesday afternoon with news on SOLV Energy’s debut on the NASDAQ.)
SOLV Energy (MWH) jumped in its NASDAQ debut – opening at $30.00, up $5.00 from its IPO price – on Wednesday afternoon – Feb. 11, 2026.
Jefferies and J.P.Morgan served as the joint lead book-runners.
SOLV Energy says it has built more than 500 power plants representing 20 GW (Gigawatts) direct current since it was founded in 2008. Engineering News Record ranked SOLV Energy as “the second-largest solar contractor in the U.S. based on 2024 revenues and the seventh-largest contractor in power overall,” according to the prospectus.
SOLV Energy is profitable, according to financial statements in the prospectus: The San Diego-based company reported net income of $124.02 million on revenue of $2.14 billion for the 12 months that ended on Sept. 30, 2025.
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
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Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.