v3.23.2

Project debt | 6 Months Ended
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Jun. 30, 2023
Project debt [Abstract] |
Project debt | Note 15. - Project debt This note shows the project debt linked to the assets included in Note 6 of these Consolidated Condensed Interim Financial Statements. Project debt is generally used to finance contracted assets, exclusively using as guarantee the assets and cash flows of the company or group of companies carrying out the activities financed. In addition, the cash of the Company´s projects include funds held to satisfy the customary requirements of certain non-recourse debt agreements and other restricted cash for an amount of $197 million as of June 30, 2023 ($208 million as of December 31, 2022). The breakdown of project debt for both non-current and current liabilities as of June 30, 2023, and December 31, 2022 is as follows:
| Balance as of June 30, |  |  | Balance as of December 31, |
| 2023 |  |  | 2022 |
| ($ in thousands) |
Non-current |  |  | 4,120,405 |  |  |  | 4,226,518 |
Current |  |  | 317,856 |  |  |  | 326,534 |
Total Project debt |  |  | 4,438,261 |  |  |  | 4,553,052 |
The Company refinanced the Solaben 2&3 assets in March 2023, entering into two green senior euro-denominated loan agreements for the two assets with a syndicate of banks for a total amount of €198.0 million. The new project debt replaced the previous project loans and maturity was extended from December 2030 to June 2037. The repayment schedule for project debt in accordance with the financing arrangements as of June 30, 2023 is as follows and is consistent with the projected cash flows of the related projects:
Remainder of 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest payment |  |  | Nominal repayment |  |  | Between January and June 2024 |  |  | Between July and December 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | Subsequent years |  |  | Total |
($ in thousands) |
| 14,982 |  |  |  | 166,836 |  |  |  | 136,038 |  |  |  | 165,148 |  |  |  | 322,667 |  |  |  | 349,716 |  |  |  | 496,189 |  |  |  | 2,786,685 |  |  |  | 4,438,261 |
The repayment schedule for project debt in accordance with the financing arrangements as of December 31, 2022, was as follows and was 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 |

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- References No definition available. + Details
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- Definition The disclosure of borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
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