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SOLV Energy Inc., a major solar energy contractor based in San Diego, has filed for an IPO aiming to raise $750 million. The company reported a net income of $114 million on $1.7 billion revenue for the year ending September 30, with a backlog of $6.7 billion.

It plans to use IPO funds for debt repayment and acquisitions. SOLV Energy has built over 20 GW of solar capacity across 30 states and ranks highly in the energy contracting sector.