Project debt (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
|---|
| Project debt [Abstract] |
|
| Project debt |
The variations in 2022 of project debt have been the following:
| |
|
Project debt -
long term
|
|
|
Project debt -
short term
|
|
|
Total
|
|
|
Balance as of December 31, 2021
|
|
|
4,387,674
|
|
|
|
648,519
|
|
|
|
5,036,193
|
|
|
Increases
|
|
|
39,161
|
|
|
|
230,320
|
|
|
|
269,481
|
|
|
Payments
|
|
|
(73,478
|
)
|
|
|
(543,484
|
)
|
|
|
(616,962
|
)
|
|
Business combinations (Note 5)
|
|
|
1,301
|
|
|
|
148
|
|
|
|
1,449
|
|
|
Currency translation differences
|
|
|
(119,068
|
)
|
|
|
(18,041
|
)
|
|
|
(137,109
|
)
|
|
Reclassifications
|
|
|
(9,072
|
)
|
|
|
9,072
|
|
|
|
-
|
|
|
Balance as of December 31, 2022
|
|
|
4,226,518
|
|
|
|
326,534
|
|
|
|
4,553,052
|
|
The variations in 2021 of project debt were the following:
| |
|
Project debt -
long term
|
|
|
Project debt -
short term
|
|
|
Total
|
|
|
Balance as of December 31, 2020
|
|
|
4,925,268
|
|
|
|
312,346
|
|
|
|
5,237,614
|
|
|
Increases
|
|
|
54,908
|
|
|
|
256,581
|
|
|
|
311,489
|
|
|
Payments
|
|
|
(85,259
|
)
|
|
|
(564,603
|
)
|
|
|
(649,862
|
)
|
|
Business combinations (Note 5)
|
|
|
288,352 |
|
|
|
38,781 |
|
|
|
327,133 |
|
|
Currency translation differences
|
|
|
(140,502
|
)
|
|
|
(49,679
|
)
|
|
|
(190,181
|
)
|
|
Reclassifications
|
|
|
(655,093
|
)
|
|
|
655,093
|
|
|
|
-
|
|
|
Balance as of December 31, 2021
|
|
|
4,387,674
|
|
|
|
648,519
|
|
|
|
5,036,193
|
|
|
| Repayment schedule for project debt |
The repayment schedule for project debt in accordance with the financing arrangements as of December 31, 2022, is as follows and is
consistent with the projected cash flows of the related projects:
|
2023
|
|
|
2024
|
|
|
2025
|
|
|
2026
|
|
|
2027
|
|
|
Subsequent years
|
|
|
Total
|
|
|
Interest
payment
|
|
|
Nominal
repayment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
15,053
|
|
|
|
311,481
|
|
|
|
323,731
|
|
|
|
442,920
|
|
|
|
358,444
|
|
|
|
504,954
|
|
|
|
2,596,469
|
|
|
|
4,553,052
|
|
The repayment schedule for project debt in accordance with the financing arrangements and assuming there would be no acceleration at the
Kaxu debt as of December 31, 2021, was as follows and was consistent with the projected cash flows of the related projects:
|
2022
|
|
|
2023
|
|
|
2024
|
|
|
2025
|
|
|
2026
|
|
|
Subsequent years
|
|
|
Total
|
|
|
Interest
payment
|
|
|
Nominal
repayment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
18,017
|
|
|
|
317,388
|
|
|
|
355,956
|
|
|
|
369,528
|
|
|
|
498,712
|
|
|
|
411,514
|
|
|
|
3,065,078
|
|
|
|
5,036,193
|
|
|
| Movement in project debt |
The following table details the movement in project debt for the years 2022 and 2021, split between cash and non-cash items:
|
Project Debt
|
|
2022
|
|
|
2021
|
|
|
Initial balance
|
|
|
5,036,193
|
|
|
|
5,237,614
|
|
|
Cash changes
|
|
|
(636,343
|
)
|
|
|
(636,831
|
)
|
|
Non-cash changes
|
|
|
153,202
|
|
|
|
435,410
|
|
|
Final balance
|
|
|
4,553,052
|
|
|
|
5,036,193
|
|
|
| Foreign currency-denominated project debt |
The equivalent in U.S. dollars of the foreign currency-denominated project debts held by the Company is as follows:
| |
|
Balance as of December 31,
|
|
|
Currency
|
|
2022
|
|
|
2021
|
|
|
Euro
|
|
|
1,633,790
|
|
|
|
1,942,903
|
|
|
South African Rand
|
|
|
277,492
|
|
|
|
314,471
|
|
|
Algerian Dinar
|
|
|
86,739
|
|
|
|
97,877
|
|
|
Total
|
|
|
1,998,021
|
|
|
|
2,355,251
|
|
|