v3.24.0.1

Commitments, third-party guarantees, contingent assets and liabilities | 12 Months Ended
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Dec. 31, 2023
Commitments, third-party guarantees, contingent assets and liabilities [Abstract] |
Commitments, third-party guarantees, contingent assets and liabilities | Note 20.- Commitments, third-party guarantees, contingent assets and liabilities Contractual obligations The following tables show the breakdown of the third-party commitments and contractual obligations as of December 31, 2023 and 2022:
2023 |  | Total |  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 |  |  | Subsequent |
Corporate debt (Note 15) |  |  | 1,084,838 |  |  |  | 34,022 |  |  |  | 179,059 |  |  |  | 320,956 |  |  |  | 153,998 |  |  |  | 396,803 |  |  |  | - |
Loans with credit institutions (Project debt) (Note 16) |  |  | 3,393,767 |  |  |  | 265,649 |  |  |  | 273,015 |  |  |  | 298,527 |  |  |  | 443,503 |  |  |  | 406,282 |  |  |  | 1,706,791 |
Notes and bonds (Project debt) (Note 16) |  |  | 925,493 |  |  |  | 54,653 |  |  |  | 52,288 |  |  |  | 53,968 |  |  |  | 56,465 |  |  |  | 58,366 |  |  |  | 649,753 |
Purchase commitments* |  |  | 713,509 |  |  |  | 81,868 |  |  |  | 52,814 |  |  |  | 47,164 |  |  |  | 51,768 |  |  |  | 45,243 |  |  |  | 434,652 |
Accrued interest estimate during the useful life of loans |  |  | 1,717,831 |  |  |  | 264,223 |  |  |  | 257,379 |  |  |  | 224,032 |  |  |  | 198,073 |  |  |  | 161,346 |  |  |  | 612,778 |
2022 |  | Total |  |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | Subsequent |
Corporate debt (Note 15) |  |  | 1,017,200 |  |  |  | 16,697 |  |  |  | 38,932 |  |  |  | 110,179 |  |  |  | 309,075 |  |  |  | 147,257 |  |  |  | 395,060 |
Loans with credit institutions (Project debt) (Note 16) |  |  | 3,595,671 |  |  |  | 273,556 |  |  |  | 275,105 |  |  |  | 391,770 |  |  |  | 305,616 |  |  |  | 449,653 |  |  |  | 1,899,971 |
Notes and bonds (Project debt) (Note 16) |  |  | 957,381 |  |  |  | 52,978 |  |  |  | 48,626 |  |  |  | 51,150 |  |  |  | 52,828 |  |  |  | 55,301 |  |  |  | 696,498 |
Purchase commitments* |  |  | 823,856 |  |  |  | 96,847 |  |  |  | 99,597 |  |  |  | 54,747 |  |  |  | 51,058 |  |  |  | 56,852 |  |  |  | 464,755 |
Accrued interest estimate during the useful life of loans |  |  | 1,821,915 |  |  |  | 264,626 |  |  |  | 248,794 |  |  |  | 229,142 |  |  |  | 203,961 |  |  |  | 179,386 |  |  |  | 696,006 |
* Purchase commitments include lease commitments for lease arrangements accounted for under IFRS 16 for $135.1 million as of December 31, 2023 ($112.0 million as of December 31, 2022), of which $9.4 million is due within one year and $125.7 million thereafter as of December 31, 2023 ($7.9 million due within one year and $104.1 million thereafter as of December 31, 2022). Third-party guarantees As of December 31, 2023, the sum of bank guarantees and surety bonds deposited by the subsidiaries of the Company as a guarantee to third parties (clients, financial entities and other third parties) amounted to $83.2 million ($88.0 million as of December 31, 2022). In addition, Atlantica Sustainable Infrastructure plc or other holding entities on its behalf had outstanding guarantees amounting to $239.8 million as of December 31, 2023 ($216.9 million as of December 31, 2022), which correspond mainly to guarantees provided to off-takers in PPAs, guarantees for debt service reserve accounts and guarantees for points of access for renewable energy projects. Corporate debt guarantees The payment obligations under the Green Senior Notes, the Revolving Credit Facility, the Note Issuance Facility 2020 and the 2020 Green Private Placement are guaranteed on a senior unsecured basis by following subsidiaries of the Company: Atlantica Infraestructura Sostenible, S.L.U., Atlantica Peru, S.A., ACT Holding, S.A. de C.V., Atlantica Investments Limited, Atlantica Newco Limited and Atlantica North America LLC. The Revolving Credit Facility and the 2020 Green Private Placement are also secured with a pledge over the shares of the subsidiary guarantors. Legal Proceedings In 2018, an insurance company covering certain Abengoa obligations in Mexico claimed certain amounts related to a potential loss. Atlantica reached an agreement under which Atlantica´s maximum theoretical exposure would in any case be limited to approximately $35 million, including $2.5 million to be held in an escrow account. In January 2019, the insurance company called on this $2.5 million from the escrow account and Abengoa reimbursed this amount. The insurance company could claim additional amounts if they faced new losses after following a process agreed between the parties and, in any case, Atlantica would only make payments if and when the actual loss has been confirmed and after arbitration if the Company initiates it. The Company used to have indemnities from Abengoa for certain potential losses, but such indemnities are no longer valid following the insolvency filing by Abengoa S.A. in February 2021. In addition, during 2021 and 2022, several lawsuits were filed related to the February 2021 winter storm in Texas against among others Electric Reliability Council of Texas (ERCOT), two utilities in Texas and more than 230 individual power generators, including Post Oak Wind, LLC, the project company owner of Lone Star 2, one of the wind assets in Vento II where the Company currently has a 49% equity interest. The basis for the lawsuit is that the defendants failed to properly prepare for cold weather, including failure to implement measures and equipment to protect against cold weather, and failed to properly conduct their operations before and during the storm. Atlantica is not a party to any other significant legal proceedings other than legal proceedings arising in the ordinary course of its business. Atlantica is party to various administrative and regulatory proceedings that have arisen in the ordinary course of business. While Atlantica does not expect these proceedings, either individually or in combination, to have a material adverse effect on its financial position or results of operations, because of the nature of these proceedings Atlantica is not able to predict their ultimate outcomes, some of which may be unfavorable to Atlantica.

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