Company Overview - SOLV Energy Inc. (NASDAQ:MWH) is a leading provider of infrastructure services to the power industry, including engineering, procurement, construction, testing, commissioning, operations, maintenance, and repowering [3] - Since its incorporation in 2008, the company has built over 500 power plants, representing 20 GW of generating capacity, and provides operations and maintenance services to 146 operating power plants, representing over 18 GW of generating capacity [3] IPO Performance - SOLV Energy's stock price increased by 22.68% on its first day of trading, reflecting strong investor support for energy stocks amid growing demand for their services in the US [1][6] - The stock opened at $30, dipped to a low of $29, reached a high of $31, and closed at $30.67 [2] - The company raised $513 million from the sale of 20.5 million shares at an initial public offering price of $25, resulting in a valuation of $6 billion [2] Industry Context - The US Energy Information Administration projects a 1% increase in energy demand this year and a further 3% increase next year, driven by higher economic activity and data center demand [4]
SOLV Energy (MWH) Soars 22.68% on IPO on Strong Confidence