Related parties

9 Months Ended

Sep. 30, 2021

Note 11. - Related parties

The related parties of the Company are primarily Algonquin and its subsidiaries, non-controlling interests (Note 13), entities accounted for under the equity method (Note 7), as well as the Directors and the Senior Management of the Company.

Details of balances with related parties as of September 30, 2021 and December 31, 2020 are as follows:

	Balance as of September 30,		Balance as of December 31,
	($ in thousands)
	2021		2020

Credit receivables (current)		20,101		23,067
Credit receivables (non-current)		15,182		10,082
Total receivables from related parties		35,283		33,149

Credit payables (current)		6,379		18,477
Credit payables (non-current)		5,700		6,810
Total payables to related parties		12,079		25,287

Current credit receivables as of September 30, 2021 mainly correspond to the short-term portion of the loan to Arroyo Netherland II B.V., the holding company of Pemcorp SAPI de CV., Monterrey´s project entity (Note 7) for $16.9 million ($15.5 million as of December 31, 2020).

Non-current credit receivables as of September 30, 2021 and December 31, 2020 correspond to the long-term portion of the loan to Arroyo Netherland II B.V.

Credit payables relate to debts with non-controlling partners in Kaxu, Solaben 2 & 3 and Solacor 1 & 2 for an amount of $9.6 million as of September 30, 2021 ($21.1 million as of December 31, 2020). The decrease is primarily due to debt repayment at Kaxu. Current credit payables also include the dividend to be paid by AYES Canada to Algonquin for $2.4 million as of September 30, 2021 ($4.2 million as of December 31, 2020).

The transactions carried out by entities included in these Consolidated Condensed Interim Financial Statements with related parties, for the nine-month periods ended September 30, 2021 and 2020 have been as follows:

	For the nine-month period ended September 30,
	2021			2020
	($ in thousands)
Financial income		1,547			1,493
Financial expenses		(89	)		(119	)