
	Fair Value Measurements at June 30, 2026
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Total
Assets
Cash and cash equivalents	$	185,384	$	—	$	—	$	185,384
Restricted cash	57,691		—		—		57,691
Inventories carried at market	—		7,883		—		7,883
Production tax credits	—		133,182		—		133,182
Derivative financial instruments - assets	—		15,158		—		15,158
Other assets	—		1		—		1
Total assets measured at fair value	$	243,075	$	156,224	$	—	$	399,299

Liabilities
Accounts payable (1)	$	—	$	11,690	$	—	$	11,690
Derivative financial instruments - liabilities	—		14,101		—		14,101
Other liabilities	—		29		—		29
Total liabilities measured at fair value	$	—	$	25,820	$	—	$	25,820


	Fair Value Measurements at December 31, 2025
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Total
Assets
Cash and cash equivalents	$	182,319	$	—	$	—	$	182,319
Restricted cash	47,813		—		—		47,813
Inventories carried at market	—		24,736		—		24,736
Production tax credits	—		40,328		—		40,328
Derivative financial instruments - assets	—		6,927		—		6,927
Property and equipment, net of accumulated depreciation and amortization (2)	—		—		2,000		2,000
Total assets measured at fair value	$	230,132	$	71,991	$	2,000	$	304,123

Liabilities
Accounts payable (1)	$	—	$	28,598	$	—	$	28,598
Derivative financial instruments - liabilities	—		7,901		—		7,901
Other liabilities	—		1		—		1
Total liabilities measured at fair value	$	—	$	36,500	$	—	$	36,500

(1)Accounts payable is generally stated at historical amounts with the exception of $11.7 million and $28.6 million at June 30, 2026 and December 31, 2025, respectively, related to certain delivered inventory for which the payable fluctuates based on changes in commodity prices. These payables are hybrid financial instruments for which the company has elected the fair value option.