SOLV Energy has become the first pure-play solar + storage EPC firm to IPO in the US. (Latitude Media)
The company debuted at a $6B valuation, raising over $500M. SOLV sits on an $8B backlog of projects, driven mostly by utilities scrambling to add capacity for data center clusters.
It's part of a wave: Geothermal firm Fervo Energy and electrical equipment maker Forgent Power have also filed to IPO this year, perhaps in a bid to make the most of an 18-month bull run for clean energy stocks.