The following table provides a reconciliation of cash and cash equivalents and restricted cash reported on the Consolidated Balance Sheets that aggregate to the beginning and ending balances shown in the Consolidated Statements of Cash Flows for the years ended December 31, 2025 and 2024:


(in thousands)	December 31, 2025		December 31, 2024
Cash and cash equivalents	$	66,637	$	120,057
Restricted cash, current	18,592		38,403
Restricted cash	2,114		3,128
Total cash and cash equivalents and restricted cash	$	87,343	$	161,588


	Year ended December 31,
(in thousands)	2025		2024		2023
Non-cash investing activities
Capital expenditures incurred but not paid	$	11,456	$	16,707	$	38,009
Non-cash involuntary conversion	9,129		—

Non-cash financing activities
Deferred shareholder servicing fees payable
Redemptions payable	585		788		361
Distribution payable to shareholders	—		—		7,606
ITC sales proceeds attributable to noncontrolling interest	45,378		—		—
Non-cash contributions from noncontrolling interests, net	—		87,865		—
Change in distributions payable to noncontrolling interest	$	(1,666)	$	997	$	2,293

Cash paid for
Interest paid, net of amounts capitalized	$	47,900	$	45,223	$	23,608


(in thousands)	March 31, 2026		December 31, 2025
Cash and cash equivalents	$	50,679	$	66,637
Restricted cash, current	8,205		18,592
Restricted cash	1,900		2,114
Total cash and cash equivalents and restricted cash	$	60,784	$	87,343


	Three months ended March 31,
(in thousands)	2026		2025
Non-cash investing activities
Capital expenditures incurred but not paid	$	8,643	$	57,665

Non-cash financing activities

Redemptions payable	204		1,172



Change in distributions payable to noncontrolling interest	$	(12)	$	(1,260)
Cash paid for
Interest paid, net of amounts capitalized	$	9,447	$	12,857