Related parties

9 Months Ended

Sep. 30, 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 September 30, 2022 and December 31, 2021 are as follows:

	Balance as of September 30,		Balance as of December 31,
	($ in thousands)
	2022		2021

Credit receivables (current)		3,695		19,387
Credit receivables (non-current)		17,006		15,768
Total receivables from related parties		20,701		35,155

Credit payables (current)		8,053		9,494
Credit payables (non-current)		-		5
Total payables to related parties		8,053		9,499

Current credit receivables as of December 31, 2021 included a dividend to be collected from Amherst Island Partnership for $6.3 million and 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 was collected in the first quarter of 2022.

Non-current credit receivables as of September 30, 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 $2.3 million as of September 30, 2022 ($6.1 million as of December 31, 2021) and the dividend to be paid by Skikda and Tenes to Algerian Energy Company, SPA and Sacyr Agua S.L for $5.1 million as of September 30, 2022 (nil as of December 31,2021).

The transactions carried out by entities included in these Consolidated Condensed Interim Financial Statements with related parties, for the nine-month periods ended September 30, 2022 and 2021 have been as follows:

	For the nine-month period ended September 30,
	2022			2021
	($ in thousands)
Financial income		996			1,547
Financial expenses		(143	)		(89	)