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Shareholders' capital (Tables)
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Schedule of Number of Common Shares
Number of common shares 
20232022
Common shares, beginning of year683,614,803 671,960,276 
Public offering— 2,861,709 
Dividend reinvestment plan4,370,289 7,676,666 
Exercise of share-based awards (c)1,284,532 1,115,398 
Conversion of convertible debentures1,415 754 
Common shares, end of year689,271,039 683,614,803 
13.Shareholders’ capital (continued)
(a)    Common shares (continued)
Authorized
AQN is authorized to issue an unlimited number of common shares. The holders of the common shares are entitled to dividends if, as and when declared by the board of directors of AQN (the “Board”); to one vote per share at meetings of the holders of common shares; and upon liquidation, dissolution or winding up of AQN to receive pro rata the remaining property and assets of AQN, subject to the rights of any shares having priority over the common shares.
The Company has a shareholders’ rights plan (the “Rights Plan”), which expires in 2025. Under the Rights Plan, one right is issued with each issued share of the Company. The rights remain attached to the shares and are not exercisable or separable unless one or more certain specified events occur. If a person or group acting in concert acquires 20 percent or more of the outstanding shares (subject to certain exceptions) of the Company, the rights will entitle the holders thereof (other than the acquiring person or group) to purchase shares at a 50 percent discount from the then-current market price. The rights provided under the Rights Plan are not triggered by any person making a “Permitted Bid”, as defined in the Rights Plan.
(i)At-the-market equity program
On August 15, 2022, AQN re-established its at-the-market equity program (“ATM Program”) that allowed the Company to issue up to $500,000 (or the equivalent in Canadian dollars) of common shares from treasury to the public from time to time, at the Company’s discretion, at the prevailing market price when issued on the Toronto Stock Exchange (“TSX”), the New York Stock Exchange (“NYSE”) or any other existing trading market for the common shares of the Company in Canada or the United States.
During the year ended December 31, 2023, the Company did not issue any common shares under its ATM Program. The ATM Program terminated in accordance with its terms on December 19, 2023.
The Company has issued, since the inception of its initial ATM Program in 2019, a cumulative total of 36,814,536 common shares at an average price of $15.00 per share for gross proceeds of $551,086 ($544,295 net of commissions). Other related costs, primarily related to the establishment and subsequent re-establishments of the ATM program, were $4,843.
(ii)Dividend reinvestment plan
The Company has a common shareholder dividend reinvestment plan, which, when the plan is active, provides an opportunity for holders of AQN’s common shares who reside in Canada, the United States, or, subject to AQN’s consent, other jurisdictions, to reinvest the cash dividends paid on their common shares in additional common shares which, at AQN’s election, are either purchased on the open market or newly issued from treasury. Effective March 3, 2022, common shares purchased under the plan were issued at a 3% discount (previously at 5%) to the prevailing market price (as determined in accordance with the terms of the plan). Effective March 16, 2023, AQN suspended the dividend reinvestment plan. Effective for the first quarter 2023 dividend (paid on April 14, 2023 to shareholders of record on March 31, 2023), shareholders participating in the dividend reinvestment plan began receiving cash dividends. If the Company elects to reinstate the dividend reinvestment plan in the future, shareholders who were enrolled in the dividend reinvestment plan at its suspension and remain enrolled at reinstatement will automatically resume participation in the dividend reinvestment plan.
(b)Preferred shares
AQN is authorized to issue an unlimited number of preferred shares, issuable in one or more series, containing terms and conditions as approved by the Board.
Schedule of Shares Issued and Outstanding
The Company has the following Cumulative Rate Reset Preferred Shares, Series A (the “Series A Shares”) and Cumulative Rate Reset Preferred Shares, Series D (the “Series D Shares”) issued and outstanding as of December 31, 2023 and 2022:

Number of sharesPrice per shareCarrying amount C$Carrying amount $
Series A Shares
4,800,000 C$25.00C$116,546 $100,463 
Series D Shares
4,000,000 C$25.00C$97,259 $83,836 
$184,299 
Schedule of Share-based Compensation Expense
For the year ended December 31, 2023, AQN recorded $11,293 (2022 - $10,920) in total share-based compensation expense as follows: 
20232022
Share options$1,325 $980 
Director deferred share units949960
Employee share purchase897562
Performance and restricted share units8,122 8,418 
Total share-based compensation$11,293 $10,920 
Schedule of Fair Value of Share Options Granted
The following assumptions were used in determining the fair value of share options granted: 
20232022
Risk-free interest rate3.4 %1.9 %
Expected volatility27 %23 %
Expected dividend yield8.6 %4.3 %
Expected life5.50 years5.50 years
Weighted average grant date fair value per option$1.04 $2.44 
Schedule of Stock Option Activity
Share option activity during the years is as follows: 
Number of
awards		Weighted
average
exercise
price		Weighted
average
remaining
contractual
term (years)		Aggregate
intrinsic
value
Balance, January 1, 20222,040,528 C$15.45 6.11C$3,145 
Granted646,090 19.11 7.22— 
Exercised(40,074)13.92 5.95103 
Forfeited(19,764)19.11 — — 
Balance, December 31, 20222,626,780 C$16.02 5.63C$— 
Granted1,368,744 10.76 7.24— 
Exercised— — — — 
Forfeited(1,327,799)16.55 — — 
Balance, December 31, 20232,667,725 C$14.71 5.18C$— 
Exercisable, December 31, 20232,621,420 C$17.11 4.50C$— 
Schedule of Performance Stock Units
A summary of the PSUs and RSUs follows: 
Number of awardsWeighted
average
grant-date
fair value		Weighted
average
remaining
contractual
term (years)		Aggregate
intrinsic
value
Balance, January 1, 20222,443,672 C$18.07 1.72C$44,646 
Granted, including dividends1,090,457 17.992.0017,524 
Exercised(1,221,620)12.62—23,636 
Forfeited(202,799)18.94—418 
Balance, December 31, 20222,109,710 C$18.38 1.76C$18,608 
Granted, including dividends2,841,967 10.98 2.0225,329 
Exercised(922,883)18.73 —10,125 
Forfeited(451,047)15.07 —3,771 
Balance, December 31, 20233,577,747 C$18.38 1.76C$29,910 
Exercisable, December 31, 2023597,363 C$19.98 0.22C$4,994