v3.26.1
Noncontrolling Interests and Redeemable Noncontrolling Interests (Tables)
 3 Months Ended
Mar. 31, 2026
Noncontrolling Interest [Abstract]  
Schedule of Redeemable Noncontrolling Interest Attributable to Tax Equity Investors
The following table presents the RNCI attributable to Tax Equity Investors after adjusting the carrying amount to the redemption value and nonredeemable NCI attributable to Tax Equity Investors as of December 31, 2025 and December 31, 2024:
(in thousands)December 31, 2025December 31, 2024
Redeemable NCI attributable to Tax Equity Investors
$— $1,851 
NCI attributable to Tax Equity Investors
$104,868 115,186 
The following table presents the NCI attributable to Tax Equity Investors as of March 31, 2026 and December 31, 2025:
(in thousands)March 31, 2026December 31, 2025
Redeemable NCI attributable to Tax Equity Investors
$— $— 
NCI attributable to Tax Equity Investors
$95,503 104,868 
Schedule of Net Income (Loss) to Noncontrolling Interest for Tax Equity Investors
The following table presents the Net loss attributable to NCI for Tax Equity Investors for the periods indicated below:
Year ended
(in thousands)202520242023
Net income (loss) attributable to NCI$(21,036)$(63,229)$(95,686)
The following table presents the contributions from Tax Equity Investors and distributions to Tax Equity Investors for the periods indicated below:
Year ended
202520242023
Contributions from Tax Equity Investors$102,113 $93,817 $144,723 
Less: Syndication costs
524 9,859 7,050 
Contributions from Tax Equity Investors, net$101,589 $83,958 $137,673 
Distributions to Tax Equity Investors$62,457 $18,848 $17,031 
Distributions to Tax Equity Investors, paid64,12317,85017,498 
The following table presents the Net income (loss) attributable to NCI for Tax Equity Investors for the periods indicated below:
Three months ended
March 31,
(in thousands)20262025
Net income (loss) attributable to NCI$918 $(25,086)
The following table presents the contributions from Tax Equity Investors and distributions to Tax Equity Investors for the periods indicated below:
Three months ended
March 31,
20262025
Contributions from Tax Equity Investors$— $2,362 
Less: Syndication costs
422 242 
Contributions from Tax Equity Investors, net$(422)$2,120 
Distributions to Tax Equity Investors$2,559 $3,811 
Distributions to Tax Equity Investors, paid$2,571 $5,071