v3.26.1
Variable Interest Entities (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
Jun. 30, 2025
T
Dec. 31, 2025
USD ($)
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Variable Interest Entities          
Capital commitments to joint venture in remainder of 2026 $ 300        
Assets          
Cash and cash equivalents 223,189   $ 368,540    
Accounts receivable, net 106,511   134,758    
Inventory, net 516,153   520,968    
Prepaid expenses, tax credits, and other current assets 140,148   93,988    
Total current assets 1,274,785   1,410,268    
Property, plant, and equipment, net 240,499   281,001    
Total assets [1] 2,368,184   2,594,568    
Liabilities          
Accounts payable 144,251   168,744    
Accrued expenses 113,068   128,010    
Total current liabilities 540,706   610,588    
Stockholder's equity          
Stockholders' equity 773,889 [1]   1,003,314 [1] $ 1,932,587 $ 1,807,756
Total liabilities and stockholders' equity 2,368,184   2,594,568    
Variable interest entities          
Assets          
Cash and cash equivalents 731   1,465    
Inventory, net 161   98    
Prepaid expenses, tax credits, and other current assets 39,232   32    
Total current assets 40,124   1,595    
Property, plant, and equipment, net 10,616   50,206    
Total assets 50,740   51,801    
Liabilities          
Accounts payable 865   785    
Accrued expenses 1,716   526    
Total current liabilities 2,581   1,311    
Stockholder's equity          
Stockholders' equity 48,159   50,490    
Total liabilities and stockholders' equity $ 50,740   $ 51,801    
Hidrogenii          
Variable Interest Entities          
Construction capacity per day | T   15      
Hidrogenii | Plug Power LA JV LLC          
Variable Interest Entities          
Percentage of ownership interest 50.00%        
Niloco Hydrogen Holdings LLC | Hidrogenii          
Variable Interest Entities          
Percentage of ownership interest 50.00%        
[1] Includes balances associated with a consolidated variable interest entity (“VIE”), including amounts reflected in “total assets” that can only be used to settle obligations of the VIE of $50,740 and $51,801 as of March 31, 2026 and December 31, 2025, respectively, as well as liabilities of the VIE reflected within “total liabilities” for which creditors do not have recourse to the general credit of Plug Power Inc. of $2,581 and $1,311 as of March 31, 2026 and December 31, 2025, respectively. Refer to Note 19, “Variable Interest Entities,” for additional information.