CECEP Solar Energy project developer CoVolt Power (KVLT.US) has applied for listing in the U.S. or to raise $200 million.

CoVolt Power, which provides construction services for utility-scale CECEP Solar Energy projects and battery storage projects, submitted its initial public offering (IPO) application documents to the U.S. Securities and Exchange Commission (SEC) last Friday, with the IPO potentially raising $200 million. The company plans to list on the New York Stock Exchange under the ticker symbol "KVLT." Headquartered in Houston, Texas, CoVolt Power was founded in 2005. The company provides engineering, procurement, and construction (EPC) services for the power and data center industries, focusing on utility-scale CECEP Solar Energy projects, battery storage systems, as well as high-voltage transmission and distribution infrastructure. The company has built more than 7.3 gigawatts of alternating current (GWac) generating facilities and nearly 1.7 gigawatt-hours (GWh) of battery storage facilities while delivering transmission and distribution (T&D) infrastructure connecting over 26.4 gigawatts of generating capacity and load to the grid. Its clients include independent power producers (IPPs), project developers, utility companies, industrial facilities, and data center operators. According to the data, for the six months ended June 30, 2026, the company's revenue decreased by 32% to $308 million; gross margin expanded by 393 basis points to 18%; adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 20% to $42.3 million, while the adjusted EBITDA margin increased by 190 basis points to 13.7%. Additionally, revenue for the 12 months ended June 30, 2026, was $596 million.