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Non-controlling interests and redeemable non-controlling interests (Tables)
 12 Months Ended
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:
20232022
HLBV and other adjustments attributable to:
Non-controlling interests - tax equity partnership units$114,141 $108,695 
Non-controlling interests - redeemable tax equity partnership units1,324 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)
202320222023202220232022
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, net107,933 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)— — — — 
OCI63 (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 sold 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. invested $39,376 in 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 partyRedeemable non-controlling interests
2023202220232022
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