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Non-controlling interests and redeemable non-controlling interests (Tables) | 12 Months Ended
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Dec. 31, 2023
Noncontrolling Interest [Abstract] |
Schedule of Net Loss Attributable to Non-controlling Interests | Net effect attributable to non-controlling interests for the years ended December 31 consists of the following:
|  |  |  |  | 2023 |  | 2022
HLBV and other adjustments attributable to: |  |  |  |  |  |  |
Non-controlling interests - tax equity partnership units |  |  |  |  | $ | 114,141 |  |  | $ | 108,695 |
Non-controlling interests - redeemable tax equity partnership units |  |  |  |  | 1,324 |  |  | 6,298 |
Other net earnings attributable to: |  |  |  |  |  |  |
Non-controlling interests |  |  |  |  | (27,564) |  |  | (3,670) |
|  |  |  |  | $ | 87,901 |  |  | $ | 111,323 |
Redeemable non-controlling interest, held by related party |  |  |  |  | (25,922) |  |  | (15,157) |
Net effect of non-controlling interests |  |  |  |  | $ | 61,979 |  |  | $ | 96,166 |
| Non-controlling interests - tax equity partnership units (a) |  | Other non-controlling interests (b) |  | Non-controlling interests held by related parties (c)
| 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
Opening balance | $ | 1,225,608 |  |  | $ | 1,377,117 |  |  | $ | 333,362 |  |  | $ | 64,807 |  |  | $ | 57,822 |  |  | $ | 81,158 |
Net earnings (loss) attributable to NCI | (114,141) |  |  | (108,695) |  |  | 27,564 |  |  | 3,670 |  |  | — |  |  | — |
Contributions received, net | 107,933 |  |  | 6,182 |  |  | — |  |  | 267,515 |  |  | — |  |  | — |
Dividends and distributions declared | (22,743) |  |  | (36,736) |  |  | (14,497) |  |  | (3,350) |  |  | (17,082) |  |  | (20,978) |
Repurchase of non-controlling interest | — |  |  | (12,249) |  |  | — |  |  | — |  |  | — |  |  | — |
OCI | 63 |  |  | (11) |  |  | 909 |  |  | 720 |  |  | 45 |  |  | (2,358) |
Closing balance | $ | 1,196,720 |  |  | $ | 1,225,608 |  |  | $ | 347,338 |  |  | $ | 333,362 |  |  | $ | 40,785 |  |  | $ | 57,822 |
(a) Non-controlling interests - tax equity partnership units The Company obtained control of the Deerfield II Wind Facility during the year (note 3). Post-acquisition, third-party tax equity investors funded $98,955 in exchange for Class A partnership units in the entity. In addition, the Company received $9,084 (2022 - $6,182) of production based cash contributions during the year relating to other projects. (b) Other non-controlling interests On December 29, 2022, the Company s old a 49% non-controlling interest in three operating wind facilities in the United States totalling 551 MW of installed capacity: the Odell Wind Facility in Minnesota, the Deerfield Wind Facility in Michigan and the Sugar Creek Wind Facility in Illinois. The consideration of $277,500 was recorded as an increase to non-controlling interest, except for a portion of $5,000, which is subject to refund if some conditions are met and as such was recorded as redeemable non-controlling interest. (c) Non-controlling interest held by related parties In November 2021, Liberty Development JV Inc. invest ed $39,376 i n Algonquin (AY Holdco) B.V., a consolidated subsidiary of the Company. In May 2019, AYES Canada acquired an interest in a consolidated subsidiary of the Company for $96,752 (C$130,103) (note 8(b)). The investment by AYES Canada and Liberty Development JV Inc. are presented as a non-controlling interest held by related parties. Changes in redeemable non-controlling interests are as follows:
| Redeemable non-controlling interests held by related party |  | Redeemable non-controlling interests
| 2023 |  | 2022 |  | 2023 |  | 2022
Opening balance | $ | 307,856 |  |  | $ | 306,537 |  |  | $ | 11,520 |  |  | $ | 12,989 |
Net earnings (loss) attributable to NCI | 25,922 |  |  | 15,157 |  |  | (1,324) |  |  | (6,298) |
Contributions, net of costs | — |  |  | — |  |  | — |  |  | 5,000 |
Dividends and distributions declared | (25,428) |  |  | (13,838) |  |  | (183) |  |  | (171) |
Closing balance | $ | 308,350 |  |  | $ | 307,856 |  |  | $ | 10,013 |  |  | $ | 11,520 |

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