v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current assets:            
Cash and cash equivalents $ 50,679 $ 66,637   $ 120,057    
Restricted cash, current 8,205 18,592   38,403    
Accounts receivable, net 19,668 32,743   27,103    
Other receivables 10,752 11,941   9,513    
Prepaid expenses 17,001 16,196   9,905    
Derivative assets, current 14,723 12,875   17,632    
Other current assets 5,186 6,395   9,168    
Total current assets 126,214 165,379   231,781    
Noncurrent assets:            
Restricted cash 1,900 2,114   3,128    
Property, plant and equipment, net 2,358,928 2,329,035   2,232,486    
Intangible assets, net 253,154 255,940   362,352    
Operating lease assets 163,423 164,332   195,024    
Investments, at fair value 67,608 73,353   74,136    
Derivative assets 60,305 61,752   98,495    
Other noncurrent assets 29,240 26,615   47,643    
Total noncurrent assets 2,934,558 2,913,141   3,013,264    
Total assets 3,060,772 3,078,520   3,245,045    
Current liabilities:            
Accounts payable and accrued expenses 50,641 55,025   69,464    
Contingent consideration, current 1,906 1,315   15,293    
Current portion of long-term debt 25,373 24,056   88,901    
Current portion of failed sale-leaseback financing and deferred ITC gain 46,131 46,131   45,868    
Other current liabilities 4,108 4,732   8,767    
Total current liabilities 128,159 131,259   228,293    
Noncurrent liabilities:            
Long-term debt, net of current portion 1,269,582 1,247,771   1,001,654    
Failed sale-leaseback financing and deferred ITC gain, net of current portion 167,490 173,487   201,601    
Deferred tax liabilities, net 30,136 24,606   35,316    
Operating lease liabilities 171,482 173,103   196,911    
Out-of-market contracts, net 137,396 139,808   180,640    
Other noncurrent liabilities 51,973 52,586   59,561    
Total noncurrent liabilities 1,828,059 1,811,361   1,675,683    
Total liabilities 1,956,218 1,942,620   1,903,976    
Commitments and contingencies (Note 11. Commitments and Contingencies)      
Equity:            
Preferred shares, par value, $0.001 per share, 50,000 authorized; none issued and outstanding $ 0 $ 0   $ 0    
Common shares, shares issued (in shares) 199,331,000 199,379,000   199,326,000    
Common shares, par value, $0.001 per share, 350,000 authorized, 199,331 and 199,379 issued and outstanding as of 2026 and 2025, respectively $ 199 $ 199   $ 199    
Additional paid-in capital 1,786,346 1,779,303   1,773,758    
Accumulated deficit (804,276) (777,258)   (584,733)    
Accumulated other comprehensive income 25,752 26,547   34,937    
Noncontrolling interests 96,533 107,109   115,057    
Total equity 1,104,554 1,135,900 $ 1,297,962 1,339,218 $ 1,623,540 $ 1,788,681
Total liabilities and equity $ 3,060,772 3,078,520   3,245,045    
Redeemable noncontrolling interests            
Noncurrent liabilities:            
Redeemable noncontrolling interests   $ 0 $ 1,851 $ 1,851 $ 2,179 $ 2,034