SOLV Energy Inc. (NASDAQ:MWH) soared 22.68% on its IPO, raising $513 million from the sale of 20.5 million shares at $25 each. The company, founded in 2008, provides infrastructure services to the power industry and has built over 500 power plants representing 20 GW of capacity.

SOLV Energy’s stock opened at $30, hit a low of $29, and peaked at $31 before closing at $30.67. The US Energy Information Administration predicts a 1% increase in energy demand this year and 3% next year due to economic growth and data center demand.

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Read more at Yahoo Finance: SOLV Energy (MWH) Soars 22.68% on IPO on Strong Confidence