SOLV Energy Acquires ASB Energy Services
The Texas contractor, specializing in substation foundations and battery storage infrastructure, is being bought for about $45 million.
Updated on Nov. 3, 2026 in Construction
SOLV Energy has acquired ASB Energy Services, a Texas-based contractor, for approximately USD 45 million, including USD 36 million in cash and USD 9 million in Class A common stock. ASB, founded in 2007 and headquartered in Amarillo, delivers infrastructure projects for data center, energy storage, renewable energy, and industrial customers.
Why it matters
The acquisition is aimed at expanding SOLV Energy's high-voltage construction capabilities and its presence in Texas and other U.S. regions. It adds specialized substation and battery storage infrastructure work to SOLV's portfolio as demand for power infrastructure grows.
The deal totals USD 45 million, split into USD 36 million in cash and USD 9 million in Class A common stock. SOLV Energy has built more than 500 power plants representing 22 GW and currently services 152 operating plants representing over 23 GW, though ASB's revenue and closing timeline were not disclosed.
The players
SOLV Energy
SOLV Energy is a power infrastructure construction and services company headquartered in San Diego, California, that has built more than 500 power plants and went public on Nasdaq in 2026.
ASB Energy Services
ASB Energy Services is an Amarillo-based Texas contractor founded in 2007 that specializes in substation foundations, civil construction, and battery energy storage infrastructure.
The details
SOLV Energy, which went public on Nasdaq earlier in 2026, is acquiring ASB Energy Services, a contractor that focuses on substation foundations, civil construction, and battery energy storage system infrastructure. ASB serves data center, energy storage, renewable energy, and industrial customers.
Timeline
Earlier in 2026: SOLV Energy went public on Nasdaq.
November 3, 2026: Coverage of the ASB acquisition was published.
Market Landscape
The deal reflects consolidation among power infrastructure contractors as data center and battery storage projects drive demand for substation and civil work. Adding ASB's specialized capabilities positions SOLV to compete more directly for high-voltage projects in Texas and other U.S. markets.
For U.S. utility customers and data center operators, consolidation among power infrastructure contractors can affect project scheduling and vendor options over time. Residents near substation and battery storage projects may see more construction activity as ASB's work expands under SOLV Energy.
The takeaway
Consolidation among specialized infrastructure contractors can speed the buildout of substations and battery storage that modern power demand requires. Watch for how the combined firms handle Texas projects as the acquisition closes.
Further reading
Explore more construction industry coverage to see how infrastructure contractors are expanding into energy and data center work.
