v3.24.3

Related parties | 9 Months Ended
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Sep. 30, 2024
Related parties [Abstract] |
Related parties | Note 12. - Related parties The related parties of the Company are primarily Algonquin Power & Utilities Corp. (“Algonquin”) and its subsidiaries, non-controlling interest (Note 14), 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, 2024, and December 31, 2023, are as follows:
|  |  | Receivables (current) |  |  | Receivables (non-current) |  |  | Payables (current) |  |  | Payables (non-current) |
Entities accounted for under the equity method: |  |  | ($ in thousands) |
Amherst Island Partnership | 2024 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
2023 |  |  | 5,817 |  |  |  | - |  |  |  | - |  |  |  | - |
Arroyo Netherland II B.V (Note 8) | 2024 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
2023 |  |  | 18,448 |  |  |  | - |  |  |  | - |  |  |  | - |
Akuo Atlantica PMGD Holding S.P.A | 2024 |  |  | 137 |  |  |  | 12,876 |  |  |  | - |  |  |  | - |
2023 |  |  | - |  |  |  | 16,677 |  |  |  | - |  |  |  | - |
Colombian assets portfolio | 2024 |  |  | 463 |  |  |  | 16,028 |  |  |  | 59 |  |  |  | - |
2023 |  |  | - |  |  |  | 13,578 |  |  |  | 34 |  |  |  | - |
Ecorer S.A.C. | 2024 |  |  | - |  |  |  | 1,357 |  |  |  | - |  |  |  | - |
2023 |  |  | - |  |  |  | 3,043 |  |  |  | - |  |  |  | - |
Other | 2024 |  |  | 14 |  |  |  | 183 |  |  |  | - |  |  |  | - |
2023 |  |  | 21 |  |  |  | 148 |  |  |  | - |  |  |  | - |
Non controlling interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Algonquin Power Co. | 2024 |  |  | 104 |  |  |  | - |  |  |  | - |  |  |  | - |
2023 |  |  | - |  |  |  | - |  |  |  | 5,683 |  |  |  | - |
JGC Corporation | 2024 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,954 |
2023 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,612 |
Algerian Energy Company, SPA | 2024 |  |  | - |  |  |  | - |  |  |  | 22 |  |  |  | - |
2023 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other | 2024 |  |  | 40 |  |  |  | - |  |  |  | 1,575 |  |  |  | 40 |
2023 |  |  | - |  |  |  | - |  |  |  | 2,314 |  |  |  | 27 |
Other related parties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Atlantica´s partner in Colombia | 2024 |  |  | 642 |  |  |  | - |  |  |  | - |  |  |  | - |
2023 |  |  | 918 |  |  |  | - |  |  |  | - |  |  |  | - |
Total | 2024 |  |  | 1,400 |  |  |  | 30,444 |  |  |  | 1,656 |  |  |  | 3,994 |
2023 |  |  | 25,204 |  |  |  | 33,446 |  |  |  | 8,031 |  |  |  | 4,639 |
Current receivables with Amherst Island Partnership as of December 31, 2023 included a dividend to be collected by AYES Canada for $5.8 million. A significant portion of the distributions received from Amherst Island Partnership are distributed by the Company to Algonquin Power Co. (Note 14). Receivables with Arroyo Netherland II B.V, the holding company of Pemcorp SAPI de CV, Monterrey´s project entity, corresponded as of December 31, 2023 to the loan that was granted at acquisition date of the project that accrued an interest of SOFR plus 6.31% with maturity date on November 25, 2027. In April 2024, Atlantica sold its interests in Monterrey and the loan was repaid in full. (Note 8) Non-current receivables primarily include a loan that accrues a fixed interest of 8.75% with Akuo Atlantica PMGD Holding S.P.A which has been partially impaired as of September 2024 for $6.1 million (Note 7) and a loan with the Colombian portfolio of renewable energy entities in which the Company has a 50% equity interest, which accrues a fixed interest of 8%. Current payables as of December 31, 2023 primarily included the dividend to be paid by AYES Canada to Algonquin Power Co. and by Skikda and Tenes to Algerian Energy Company, SPA. Non-current payables with JGC Corporation include a subordinated debt with Solacor 1 and Solacor 2 that accrues an interest of Euribor plus 2.5% and with maturity date in 2037. Current receivables with the partner of the Company in Colombia include Atlantica´s pending purchase price payment to be received for the partial sale of its investment in the Colombian portfolio of renewable energy entities. The profit and loss impact of transactions carried out by entities included in these Consolidated Condensed Interim Financial Statements with related parties, for the nine-month periods ended September 30, 2024 and 2023 has been as follows:
|  |  | Financial income |  |  | Financial expense |  |  | Operating income |  |  | Operating Expense |
Entities accounted for under the equity method: |  |  | ($ in thousands) |
Arroyo Netherland II B.V | 2024 |  |  | 606 |  |  |  | - |  |  |  | - |  |  |  | - |
2023 |  |  | 1,346 |  |  |  | - |  |  |  | - |  |  |  | - |
Akuo Atlantica PMGD Holding | 2024 |  |  | 1,045 |  |  |  | - |  |  |  | 117 |  |  |  | (6,105 | )
2023 |  |  | 403 |  |  |  | - |  |  |  | 263 |  |  |  | - |
Colombian assets portfolio | 2024 |  |  | 274 |  |  |  | - |  |  |  | 14 |  |  |  | (28 | )
2023 |  |  | 295 |  |  |  | - |  |  |  | - |  |  |  | - |
Other | 2024 |  |  | - |  |  |  | - |  |  |  | 7 |  |  |  | (134 | )
2023 |  |  | - |  |  |  | - |  |  |  | 7 |  |  |  | (158 | )
Non controlling interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other | 2024 |  |  | - |  |  |  | (421 | ) |  |  | - |  |  |  | - |
2023 |  |  | - |  |  |  | (432 | ) |  |  | - |  |  |  | - |
Total | 2024 |  |  | 1,925 |  |  |  | (421 | ) |  |  | 138 |  |  |  | (6,267 | )
2023 |  |  | 2,044 |  |  |  | (432 | ) |  |  | 270 |  |  |  | (158 | )

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