v3.26.1
Financial instruments - Carrying amount and fair value (Details) - EUR (€)
€ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Financial instruments    
Carrying amount of financial assets € 5,801,166 € 5,845,634
Carrying amount of financial liabilities 13,922,603 13,400,213
Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 9,523,347 9,091,942
FVPL - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 54,125 21,872
Not classified    
Financial instruments    
Carrying amount of financial liabilities 4,345,131 4,286,399
Accounts payable to unrelated parties    
Financial instruments    
Carrying amount of financial liabilities 754,542 722,974
Accounts payable to unrelated parties | Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 754,542 722,974
Accounts payable to related parties    
Financial instruments    
Carrying amount of financial liabilities 119,584 97,951
Accounts payable to related parties | Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 119,584 97,951
Short-term debt    
Financial instruments    
Carrying amount of financial liabilities 120,969 17,015
Short-term debt | Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 120,969 17,015
Long-term debt    
Financial instruments    
Carrying amount of financial liabilities 7,416,042 7,287,881
Long-term debt | Level 1    
Financial instruments    
Fair value of financial liabilities 6,712,141 6,716,223
Long-term debt | Level 2    
Financial instruments    
Fair value of financial liabilities 356,375 318,336
Long-term debt | Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 7,416,042 7,287,881
Lease liabilities    
Financial instruments    
Carrying amount of financial liabilities 3,492,396 3,490,709
Lease liabilities | Not classified    
Financial instruments    
Carrying amount of financial liabilities 3,492,396 3,490,709
Other current and non-current liabilities    
Financial instruments    
Carrying amount of financial liabilities 2,019,070 1,783,683
Other current and non-current liabilities | Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 1,112,210 966,121
Other current and non-current liabilities | FVPL - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 54,125 21,872
Other current and non-current liabilities | Not classified    
Financial instruments    
Carrying amount of financial liabilities 852,735 795,690
Derivatives - cash flow hedging instruments    
Financial instruments    
Carrying amount of financial liabilities 18,640 2,647
Derivatives - cash flow hedging instruments | Level 2    
Financial instruments    
Fair value of financial liabilities 18,640 2,647
Derivatives - cash flow hedging instruments | Not classified    
Financial instruments    
Carrying amount of financial liabilities 18,640 2,647
Derivatives - not designated as hedging instruments    
Financial instruments    
Carrying amount of financial liabilities 43,079 9,147
Derivatives - not designated as hedging instruments | Level 2    
Financial instruments    
Fair value of financial liabilities 43,079 9,147
Derivatives - not designated as hedging instruments | FVPL - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 43,079 9,147
Derivatives embedded in vPPAs    
Financial instruments    
Carrying amount of financial liabilities 5,543 9,463
Derivatives embedded in vPPAs | Level 3    
Financial instruments    
Fair value of financial liabilities 5,543 9,463
Derivatives embedded in vPPAs | FVPL - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 5,543 9,463
Variable payments outstanding for acquisitions    
Financial instruments    
Carrying amount of financial liabilities 5,503 3,262
Variable payments outstanding for acquisitions | Level 3    
Financial instruments    
Fair value of financial liabilities 5,503 3,262
Variable payments outstanding for acquisitions | FVPL - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 5,503 3,262
Put option liabilities    
Financial instruments    
Carrying amount of financial liabilities 834,095 793,043
Put option liabilities | Level 3    
Financial instruments    
Fair value of financial liabilities 834,095 793,043
Put option liabilities | Not classified    
Financial instruments    
Carrying amount of financial liabilities 834,095 793,043
Other financial liabilities    
Financial instruments    
Carrying amount of financial liabilities 1,112,210 966,121
Other financial liabilities | Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 1,112,210 966,121
Amortized cost - Assets    
Financial instruments    
Carrying amount of financial assets 4,709,272 4,756,889
FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 501,108 481,357
FVOCI - Assets    
Financial instruments    
Carrying amount of financial assets 399,206 414,792
Not classified    
Financial instruments    
Carrying amount of financial assets 191,580 192,596
Cash and cash equivalents    
Financial instruments    
Carrying amount of financial assets 1,239,145 1,599,113
Cash and cash equivalents | Level 1    
Financial instruments    
Fair value of financial assets 268,618 257,992
Cash and cash equivalents | Amortized cost - Assets    
Financial instruments    
Carrying amount of financial assets 970,527 1,341,121
Cash and cash equivalents | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 268,618 257,992
Trade accounts and other receivables from unrelated parties    
Financial instruments    
Carrying amount of financial assets 3,519,406 3,107,503
Trade accounts and other receivables from unrelated parties | Amortized cost - Assets    
Financial instruments    
Carrying amount of financial assets 3,427,088 3,018,004
Trade accounts and other receivables from unrelated parties | Not classified    
Financial instruments    
Carrying amount of financial assets 92,318 89,499
Accounts receivable from related parties    
Financial instruments    
Carrying amount of financial assets 29,498 32,683
Accounts receivable from related parties | Amortized cost - Assets    
Financial instruments    
Carrying amount of financial assets 29,498 32,683
Other current and non-current assets    
Financial instruments    
Carrying amount of financial assets 1,013,117 1,106,335
Other current and non-current assets | Amortized cost - Assets    
Financial instruments    
Carrying amount of financial assets 282,159 365,081
Other current and non-current assets | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 232,490 223,365
Other current and non-current assets | FVOCI - Assets    
Financial instruments    
Carrying amount of financial assets 399,206 414,792
Other current and non-current assets | Not classified    
Financial instruments    
Carrying amount of financial assets 99,262 103,097
Derivatives - cash flow hedging instruments    
Financial instruments    
Carrying amount of financial assets 10,847 13,856
Derivatives - cash flow hedging instruments | Level 2    
Financial instruments    
Fair value of financial assets 10,847 13,856
Derivatives - cash flow hedging instruments | Not classified    
Financial instruments    
Carrying amount of financial assets 10,847 13,856
Derivatives - not designated as hedging instruments    
Financial instruments    
Carrying amount of financial assets 19,073 11,546
Derivatives - not designated as hedging instruments | Level 2    
Financial instruments    
Fair value of financial assets 19,073 11,546
Derivatives - not designated as hedging instruments | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 19,073 11,546
Derivatives embedded in vPPAs    
Financial instruments    
Carrying amount of financial assets 3,896 7,730
Derivatives embedded in vPPAs | Level 3    
Financial instruments    
Fair value of financial assets 3,896 7,730
Derivatives embedded in vPPAs | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 3,896 7,730
Equity investments    
Financial instruments    
Carrying amount of financial assets 86,173 89,508
Equity investments | Level 1    
Financial instruments    
Fair value of financial assets 9,860 15,239
Equity investments | Level 2    
Financial instruments    
Fair value of financial assets 60,596 60,498
Equity investments | Level 3    
Financial instruments    
Fair value of financial assets 15,717 13,771
Equity investments | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 27,578 31,011
Equity investments | FVOCI - Assets    
Financial instruments    
Carrying amount of financial assets 58,595 58,497
Debt securities    
Financial instruments    
Carrying amount of financial assets 417,757 430,219
Debt securities | Level 1    
Financial instruments    
Fair value of financial assets 417,757 430,219
Debt securities | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 77,146 73,924
Debt securities | FVOCI - Assets    
Financial instruments    
Carrying amount of financial assets 340,611 356,295
Other financial assets    
Financial instruments    
Carrying amount of financial assets 475,371 553,476
Other financial assets | Level 3    
Financial instruments    
Fair value of financial assets 104,797 99,154
Other financial assets | Amortized cost - Assets    
Financial instruments    
Carrying amount of financial assets 282,159 365,081
Other financial assets | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 104,797 99,154
Other financial assets | Not classified    
Financial instruments    
Carrying amount of financial assets € 88,415 € 89,241