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Property, plant and equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Property, plant and equipment | Property, plant and equipment Property, plant and equipment consist of the following:
2023 |
| Cost |  | Accumulated depreciation |  | Net book value
Renewable generation facilities | $ | 4,200,559 |  |  | $ | 1,139,137 |  |  | $ | 3,061,422 |
Utility plant | 9,332,092 |  |  | 1,191,013 |  |  | 8,141,079 |
Land | 133,483 |  |  | — |  |  | 133,483 |
Equipment | 122,929 |  |  | 53,181 |  |  | 69,748 |
Construction-in-progress |  |  |  |  |
Generation | 378,043 |  |  | — |  |  | 378,043 |
Distribution and transmission | 733,675 |  |  | — |  |  | 733,675 |
| $ | 14,900,781 |  |  | $ | 2,383,331 |  |  | $ | 12,517,450 |
2022 |
| Cost |  | Accumulated depreciation |  | Net book value
Renewable generation facilities | $ | 4,119,514 |  |  | $ | 1,016,784 |  |  | $ | 3,102,730 |
Utility plant | 8,640,224 |  |  | 990,975 |  |  | 7,649,249 |
Land | 113,153 |  |  | — |  |  | 113,153 |
Equipment | 111,707 |  |  | 50,904 |  |  | 60,803 |
Construction-in-progress |  |  |  |  |
Generation | 196,287 |  |  | — |  |  | 196,287 |
Distribution and transmission | 822,663 |  |  | — |  |  | 822,663 |
| $ | 14,003,548 |  |  | $ | 2,058,663 |  |  | $ | 11,944,885 |
During the fourth quarter of 2022, the Company concluded that some assets in the Renewable Energy Group may not be recoverable due to declining forecasted energy prices in the Electric Reliability Council of Texas (“ERCOT”) market, mainly affecting the results of the Senate Wind Facility (which began commercial operations in 2012). Accordingly, the Company performed fair value analysis based on the income approach and recorded an impairment charge of $159,568 to reduce the carrying value of the Senate Wind Facility and other smaller assets from $259,942 to $100,374. Renewable generation facilities include cost of $117,556 (2022 - $111,192) and accumulated depreciation of $52,506 (2022 - $46,666) related to facilities under financing lease or owned by consolidated VIEs. Depreciation expense of facilities under finance leases was $537 (2022 - $1,489). Utility plant includes cost of $3,270 (2022 - $3,076) and accumulated depreciation of $2,455 (2022 - $2,041) related to assets under finance lease. Utility plant includes cost of $1,922,844 (2022 - $2,033,391) and accumulated depreciation of $141,466 (2022 - $133,644) related to regulated generation assets. For the year ended December 31, 2023, contributions received in aid of construction of $238 (2022 - $1,299) have been credited to the cost of the assets. 5.Property, plant and equipment (continued) Interest and AFUDC capitalized to the cost of the assets in 2023 and 2022 are as follows:
| 2023 |  | 2022
Interest capitalized on non-regulated property | $ | 6,374 |  |  | $ | 4,762 |
AFUDC capitalized on regulated property: |  |  |
Allowance for borrowed funds | 8,305 |  |  | 6,040 |
Allowance for equity funds | 3,372 |  |  | 1,901 |
| $ | 18,051 |  |  | $ | 12,703 |

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