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DEBT (Tables) | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Schedule of debt | Our debt arrangements consisted of the following (in thousands):
Loan Agreement |  | September 30, 2025 |  | December 31, 2024
Trina Solar AG Note |  | $ | 150,000 |  |  | $ | 150,000 |
Trina Solar (U.S.), Inc. Production Reserve Fee |  | 220,000 |  |  | 220,000 |
Senior Secured Credit Facility |  | 205,206 |  |  | 235,000 |
Convertible note - related party |  | 47,092 |  |  | 80,000 |
Total debt principal |  | 622,298 |  |  | 685,000 |
Less: unamortized discount |  | (74,972) |  |  | (82,723) |
Total debt |  | 547,326 |  |  | 602,277 |
Less: current portion |  | 120,096 |  |  | 94,367 |
Noncurrent portion |  | $ | 427,230 |  |  | $ | 507,910 |
Schedule of debt borrowing rates | As of September 30, 2025, our debt borrowing rates were as follows:
Loan Agreement |  | Interest Rate |  | Effective Interest Rate
Trina Solar AG Note |  | 1.0% |  | 6.0%
Trina Solar (U.S.), Inc. Production Reserve |  | —% |  | 4.9%
Senior Secured Credit Facility |  | SOFR plus 2.5% |  | 7.5%
Convertible note - related party |  | 13.0% |  | 13.0%
Schedule of maturities | The aggregate maturities of long-term debt as of September 30, 2025 were as follows (in thousands):
Remainder of 2025 |  | $ | 64,574 |
2026 |  | 120,357 |
2027 |  | 125,578 |
2028 |  | 124,950 |
2029 |  | 186,839 |
Thereafter |  | — |
Total |  | $ | 622,298 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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