v3.26.3
Variable Interest Entities (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
T
Sep. 30, 2026
USD ($)
Mar. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
Sep. 30, 2025
USD ($)
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Assets                
Cash and cash equivalents     $ 134,131   $ 368,540      
Accounts receivable, net     170,145   134,758      
Inventory, net     472,426   520,968      
Prepaid expenses, tax credits, and other current assets     93,263   93,988      
Total current assets     1,110,476   1,410,268      
Property, plant, and equipment, net     191,739   281,001      
Total assets [1]     2,104,006   2,594,568      
Liabilities                
Accounts payable     147,019   168,744      
Accrued expenses     119,602   128,010      
Total current liabilities     501,572   610,588      
Stockholder's equity                
Stockholders' equity $ 587,290 $ 1,763,960 711,381 $ 773,889 1,003,314 $ 1,498,621 $ 1,932,587 $ 1,807,756
Total liabilities and stockholders' equity     2,104,006   2,594,568      
Hydrogen production plants                
Variable Interest Entities                
Net cash proceeds 36,100              
Additional capital contribution to the joint venture 3,100              
Joint venture distributed amount $ 16,500              
Assets                
Property, plant, and equipment, net     39,200          
Variable interest entities                
Assets                
Cash and cash equivalents     1,383   1,465      
Accounts receivable, net     109          
Inventory, net     406   98      
Prepaid expenses, tax credits, and other current assets     207   32      
Total current assets     2,105   1,595      
Property, plant, and equipment, net     11,667   50,206      
Total assets     13,772   51,801      
Liabilities                
Accounts payable     1,072   785      
Accrued expenses     1,730   526      
Total current liabilities     2,802   1,311      
Stockholder's equity                
Stockholders' equity     10,970   50,490      
Total liabilities and stockholders' equity     $ 13,772   $ 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 $13,772 and $51,801 as of September 30, 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 $2,802 and $1,311 as of September 30, 2026 and December 31, 2025, respectively. Refer to Note 21, “Variable Interest Entities,” for additional information.