CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 251	$ 231
Restricted cash	292	587
Inventory	88	75
Derivative instruments	47	29
Prepayments and other current assets	86	67
Total current assets	1,062	1,152
Property, plant and equipment, net	11,686	11,596
Other Assets
Equity investments in affiliates	375	291
Intangible assets for power purchase agreements, net	2,323	2,294
Other intangible assets, net	65	66
Deferred income taxes	0	172
Derivative instruments	146	127
Right-of-use assets, net	769	714
Other non-current assets	346	243
Total other assets	4,024	3,907
Total Assets	16,772	16,655
Current Liabilities
Current portion of long-term debt	570	708
Derivative instruments	14	52
Accrued interest expense	72	52
Accrued expenses and other current liabilities	68	79
Total current liabilities	880	1,018
Other Liabilities
Long-term debt	8,491	7,898
Deferred income taxes	143	45
Derivative instruments	79	308
Long-term lease liabilities	829	796
Other non-current liabilities	753	676
Total other liabilities	10,295	9,723
Total Liabilities	11,175	10,741
Redeemable noncontrolling interest in subsidiaries	124	103
Commitments and Contingencies
Stockholders’ Equity
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued	0	0
Class B, Class C and Class D common stock, $0.01 par value; 2,500,000,000 shares authorized (Class B 500,000,000, Class C 1,000,000,000, Class D 1,000,000,000); 205,267,917 shares issued and outstanding (Class B 42,738,750, Class C 121,168,025, Class D 41,361,142) at June 30, 2026 and 203,773,674 shares issued and outstanding (Class A 34,613,853, Class B 42,738,750, Class C 84,844,929, Class D 41,576,142) at December 31, 2025	1	1
Additional paid-in capital	1,730	1,715
Retained earnings	111	213
Accumulated other comprehensive income (loss)	9	(5)
Noncontrolling interest	3,622	3,887
Total Stockholders’ Equity	5,473	5,811
Total Liabilities and Stockholders’ Equity	16,772	16,655
Nonrelated Party
Current Assets
Accounts receivable	296	162
Current Liabilities
Accounts payable — trade	130	95
Affiliated Entity
Current Assets
Accounts receivable	2	1
Current Liabilities
Accounts payable — affiliates	$ 26	$ 32