Shares of SOLV Energy, Inc. (Nasdaq: MWH) are up about 3% after the company spotlighted expansion in its operations-and-maintenance business, reporting an O&M portfolio exceeding 20 GW of utility-scale solar and storage capacity under management as of December 31, 2025. The company said the managed portfolio increased by more than 2 GW from the prior year and emphasized growing demand for operators that can run larger, more complex hybrid renewable assets.

A key detail in the update is the Darden project in California’s Central Valley, which the company described as its largest single-site O&M award in its history. When fully online in 2028, Darden is expected to combine 1.6 GW of solar generation with 4.6 GWh of battery storage, positioning it among the largest solar-plus-storage facilities in the U.S. The size and hybrid configuration matter for SOLV because storage-heavy sites typically raise operational complexity, potentially supporting higher-value service work over time.

Investors often treat O&M as a higher-visibility, recurring-revenue complement to the more cyclical EPC construction business. SOLV highlighted platform elements like a 24/7 NERC-compliant operations and control center monitoring 150 sites, along with testing/repair and SCADA-related services, which can deepen customer relationships and improve lifecycle economics. In a post-IPO tape, evidence of expanding contracted O&M footprint can help stabilize the growth narrative and support valuation, particularly when broader renewable-energy sentiment is volatile.