Esdec Solar Group is seeking an initial public offering in New York that would value the Blackstone Inc.-backed solar firm at more than $5 billion, according to people familiar with the matter.

The Netherlands-based company has appointed JPMorgan Chase & Co. and Morgan Stanley to the top line and is in the process of adding further banks to the IPO syndicate, the people said, asking not to be identified discussing confidential information.

The company is attempting to tap growing investor demand for green assets, the people said. It would add to a growing list of European companies pursuing US listings.

Founded in 2004, Esdec, which is also backed by European private equity investor Rivean Capital, develops and distributes rooftop solar racking and mounting systems.

No final decision has been made on the timing and size of the listing, the people said. Representatives for Blackstone, Morgan Stanley and Esdec declined to comment, while Rivean Capital and JPMorgan couldn’t be immediately reached.

The US market for IPOs is finally warming after 18 months in the doldrums, boosted by the recent success of restaurant chain Cava Group Inc.’s debut. Among a growing pipeline of listings is the iconic footwear maker Birkenstock, which is said to be ready to launch an IPO as soon as September.

UK-based Arm Ltd., owned by SoftBank Group Corp., is gearing up for what promises to be the biggest IPO of the year. The chipmaker plans to raise as much as $10 billion in an offering in September, Bloomberg News has reported.

(Updates with Arm’s planned IPO in seventh paragraph.)