Related parties

3 Months Ended

Mar. 31, 2022

Note 11. - Related parties

The related parties of the Company are primarily Algonquin Power & Utilities Corp. (“Algonquin”) and its subsidiaries, non-controlling interests (Note 13), 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 March 31, 2022 and December 31, 2021 are as follows:

	Balance as of March 31,		Balance as of December 31,
	($ in thousands)
	2022		2021

Credit receivables (current)		3,507		19,387
Credit receivables (non-current)		17,006		15,768
Total receivables from related parties		20,513		35,155

Credit payables (current)		8,709		9,494
Credit payables (non-current)		5		5
Total payables to related parties		8,714		9,499

Current credit receivables as of December 31, 2021 included the short-term portion of the loan to Arroyo Netherland II B.V., the holding company of Pemcorp SAPI de CV., Monterrey´s project entity (Note 7), of which $8.2 million have been collected in the first quarter of 2022. The balance as of December 31, 2021 also included the dividend pending to be collected from Amherst Island Partnership for $6.3 million, which has been collected in the first quarter of 2022.

Non-current credit receivables as of March 31, 2022 and December 31, 2021 correspond to the long-term portion of the loan to Arroyo Netherland II B.V.

Current credit payables primarily include the dividend to be paid by AYES Canada to Algonquin for $7.4 million as of March 31, 2022 ($6.1 million as of December 31, 2021).

The transactions carried out by entities included in these Consolidated Condensed Interim Financial Statements with related parties, for the three-month periods ended March 31, 2022 and 2021 have been as follows:

	For the three-month period ended March 31,
	2022			2021
	($ in thousands)
Financial income		382			510
Financial expenses		(120	)		(31	)