Leases (Tables)

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Schedule of Lease Costs

The following table provides information related to our lease costs (dollars in thousands):

	Three Months Ended March 31,
	2026		2025
Operating Lease Cost - PPAs and Energy Storage PPA Lease Contracts	$	54,390	$	12,547
Operating Lease Cost - Land, Property, and Other Equipment	6,301		5,337
Total Operating Lease Cost	60,691		17,884
Variable Lease Cost (a)	25,313		21,370
Short-term Lease Cost	875		592
Total Lease Cost	$	86,879	$	39,846

(a)    Primarily relates to PPA lease contracts.

The following tables provide other additional information related to operating lease liabilities (dollars in thousands):

	Three Months Ended March 31,
	2026			2025
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows	$	61,114		$	17,207
Right-of-use operating lease assets obtained in exchange for operating lease liabilities	$	404,869	(a)	$	763,437	(b)

	March 31, 2026		December 31, 2025
Weighted average remaining lease term	17 years		15 years
Weighted average discount rate (c)	8.72	%	5.48	%

(a)Primarily relates to two PPA operating lease agreements that were modified in 2026.

(b)Primarily relates to the three new energy storage operating lease agreements that commenced in 2025.

(c)Most of our lease agreements do not contain an implicit rate that is readily determinable. For these agreements we use our incremental borrowing rate to measure the present value of lease liabilities. We determine our incremental borrowing rate at lease commencement based on the rate of interest that we would have to pay to borrow, on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. We use the implicit rate when it is readily determinable.

Schedule of Maturities of Operating Lease Labilities

The following table provides information related to the maturity of our operating lease liabilities (dollars in thousands):

	March 31, 2026
Year	PPAs and Energy Storage PPA Lease Contracts		Land, Property and Equipment Leases		Total
2026 (remaining nine months of 2026)	$	308,967	$	16,360	$	325,327
2027	391,311		19,667		410,978
2028	431,553		16,975		448,528
2029	436,730		14,842		451,572
2030	442,013		10,620		452,633
2031	447,410		4,719		452,129
Thereafter	5,478,135		55,397		5,533,532
Total lease commitments	7,936,119		138,580		8,074,699
Less imputed interest	3,885,636		41,552		3,927,188
Total lease liabilities	$	4,050,483	$	97,028	$	4,147,511