Trade and other receivables

6 Months Ended

Jun. 30, 2023

Trade and other receivables [Abstract]

Note 12. - Trade and other receivables

Trade and other receivables as of June 30, 2023 and December 31, 2022, consist of the following:

	Balance as of June 30,		Balance as of December 31,
	2023		2022
	($ in thousands)
Trade receivables		225,049		125,437
Tax receivables		31,110		45,680
Prepayments		15,770		11,827
Other accounts receivable		6,443		17,390
Total		278,372		200,334

The increase in trade receivables is primarily due to collections pending from the Spanish state-owner regulator, Comision Nacional de los Mercados y de la Competencia or “CNMC” in the solar assets of the Company in Spain and from Pemex in ACT.

During the year 2022, in the assets in Spain, the Company collected revenue in line with the parameters corresponding to the regulation in place at the beginning of the year 2022, as the new parameters, reflecting lower revenue, became final on December 14, 2022. As a result, as of December 31, 2022, trade receivables in the assets in Spain were lower than usual. In the six-month period ended June 30, 2023, collections at these assets in Spain were regularized.

As of June 30, 2023, and December 31, 2022, the fair value of trade and other receivables accounts does not differ significantly from its carrying amount.