6-Kfalse2024-09-3012-31Atlantica Sustainable Infrastructure plc0001601072000.005000016010722024-01-012024-09-3000016010722024-09-3000016010722023-12-3100016010722023-01-012023-09-3000016010722022-12-310001601072ifrs-full:CapitalReserveMember2023-12-310001601072ifrs-full:IssuedCapitalMember2023-12-310001601072ifrs-full:CapitalReserveMember2022-12-310001601072ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2023-12-310001601072ifrs-full:NoncontrollingInterestsMember2022-12-310001601072ifrs-full:SharePremiumMember2022-12-310001601072ifrs-full:RetainedEarningsMember2023-12-310001601072ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2022-12-310001601072ifrs-full:ReserveOfCashFlowHedgesMember2022-12-310001601072ifrs-full:EquityAttributableToOwnersOfParentMember2022-12-310001601072ifrs-full:ReserveOfCashFlowHedgesMember2023-12-310001601072ifrs-full:RetainedEarningsMember2022-12-310001601072ifrs-full:NoncontrollingInterestsMember2023-12-310001601072ifrs-full:SharePremiumMember2023-12-310001601072ifrs-full:EquityAttributableToOwnersOfParentMember2023-12-310001601072ifrs-full:IssuedCapitalMember2022-12-310001601072ifrs-full:SharePremiumMember2024-01-012024-09-300001601072ifrs-full:CapitalReserveMember2024-01-012024-09-300001601072ifrs-full:RetainedEarningsMember2024-01-012024-09-300001601072ifrs-full:CapitalReserveMember2023-01-012023-09-300001601072ifrs-full:IssuedCapitalMember2023-01-012023-09-300001601072ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2024-01-012024-09-300001601072ifrs-full:NoncontrollingInterestsMember2024-01-012024-09-300001601072ifrs-full:ReserveOfCashFlowHedgesMember2024-01-012024-09-300001601072ifrs-full:NoncontrollingInterestsMember2023-01-012023-09-300001601072ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2023-01-012023-09-300001601072ifrs-full:ReserveOfCashFlowHedgesMember2023-01-012023-09-300001601072ifrs-full:SharePremiumMember2023-01-012023-09-300001601072ifrs-full:EquityAttributableToOwnersOfParentMember2024-01-012024-09-300001601072ifrs-full:IssuedCapitalMember2024-01-012024-09-300001601072ifrs-full:RetainedEarningsMember2023-01-012023-09-300001601072ifrs-full:EquityAttributableToOwnersOfParentMember2023-01-012023-09-300001601072ifrs-full:IssuedCapitalMember2024-09-300001601072ifrs-full:SharePremiumMember2023-09-300001601072ifrs-full:RetainedEarningsMember2023-09-300001601072ifrs-full:RetainedEarningsMember2024-09-300001601072ifrs-full:CapitalReserveMember2023-09-300001601072ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2023-09-300001601072ifrs-full:EquityAttributableToOwnersOfParentMember2024-09-300001601072ifrs-full:CapitalReserveMember2024-09-300001601072ifrs-full:SharePremiumMember2024-09-300001601072ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember2024-09-300001601072ifrs-full:NoncontrollingInterestsMember2024-09-300001601072ifrs-full:IssuedCapitalMember2023-09-300001601072ifrs-full:EquityAttributableToOwnersOfParentMember2023-09-300001601072ifrs-full:ReserveOfCashFlowHedgesMember2024-09-300001601072ifrs-full:ReserveOfCashFlowHedgesMember2023-09-3000016010722023-09-300001601072ifrs-full:NoncontrollingInterestsMember2023-09-300001601072aby:BidcoMember2024-05-270001601072aby:SubsequentEventsMemberaby:FivePointSixTwoFiveGreenSeniorNotesDue2032Member2024-10-230001601072aby:SubsequentEventsMemberaby:SixPointThreeSevenFiveGreenSeniorNotesDue2032Member2024-10-230001601072aby:UnitedKingdomWind1AndUnitedKingdomWind2AssetsMember2024-03-220001601072aby:Honda1And2Member2022-05-310001601072aby:UnitedKingdomWind1AndUnitedKingdomWind2AssetsMember2024-03-222024-03-220001601072aby:Honda1And2Member2022-05-012022-05-310001601072aby:AlgonquinMember2024-04-012024-04-300001601072aby:AlgonquinMemberifrs-full:TopOfRangeMember2024-09-300001601072ifrs-full:BottomOfRangeMemberaby:AlgonquinMember2024-09-300001601072aby:ATNExpansion3Member2024-09-300001601072aby:AlgonquinMember2024-01-012024-09-300001601072aby:ATNExpansion3Member2024-01-012024-09-300001601072aby:Honda1And2Member2024-01-012024-09-300001601072aby:ATNExpansion3Member2022-07-012022-07-310001601072aby:KaxuMember2024-01-012024-09-300001601072aby:Mini-HydroMember2024-01-012024-09-300001601072aby:UnitedKingdomWind1Member2024-01-012024-09-300001601072aby:ATN2ConcessionalAssetMember2024-01-012024-09-300001601072aby:SevillePVMember2024-01-012024-09-300001601072aby:ChileTL4Member2024-01-012024-09-300001601072aby:ItalySolarPV1Member2024-01-012024-09-300001601072aby:ElkhornValleyMember2024-01-012024-09-300001601072aby:UnitedKingdomWind2Member2024-01-012024-09-300001601072aby:ATNMember2024-01-012024-09-300001601072aby:TwinGrovesIIMember2024-01-012024-09-300001601072aby:Honda1Member2024-01-012024-09-300001601072aby:HonaineMember2024-01-012024-09-300001601072aby:Helios1And2Member2024-01-012024-09-300001601072aby:ChileTL3Member2024-01-012024-09-300001601072aby:PS10AndPS20Member2024-01-012024-09-300001601072aby:Honda2Member2024-01-012024-09-300001601072aby:MojaveMember2024-01-012024-09-300001601072aby:LoneStarIIMember2024-01-012024-09-300001601072aby:ATSMember2024-01-012024-09-300001601072aby:CosoMember2024-01-012024-09-300001601072aby:ItalySolarPV3Member2024-01-012024-09-300001601072aby:ItalySolarPV2Member2024-01-012024-09-300001601072aby:Quadra1AndQuadra2Member2024-01-012024-09-300001601072aby:Solacor1AndSolacor2Member2024-01-012024-09-300001601072aby:Solnova13And4Member2024-01-012024-09-300001601072aby:ChilePV1Member2024-01-012024-09-300001601072aby:LaToluaMember2024-01-012024-09-300001601072aby:Solaben1And6Member2024-01-012024-09-300001601072aby:PalmatirMember2024-01-012024-09-300001601072aby:ChilePV3Member2024-01-012024-09-300001601072aby:TierraLindaMember2024-01-012024-09-300001601072aby:LaSierpeMember2024-01-012024-09-300001601072aby:CalgaryDistrictHeatingMember2024-01-012024-09-300001601072aby:ACTMember2024-01-012024-09-300001601072aby:MelowindMember2024-01-012024-09-300001601072aby:SkikdaMember2024-01-012024-09-300001601072aby:ChilePV2Member2024-01-012024-09-300001601072aby:ChilePMGDMember2024-01-012024-09-300001601072aby:PrairieStarMember2024-01-012024-09-300001601072aby:SolanaMember2024-01-012024-09-300001601072aby:Solaben2AndSolaben3Member2024-01-012024-09-300001601072aby:AlbisuMember2024-01-012024-09-300001601072aby:TenesMember2024-01-012024-09-300001601072aby:ItalySolarPV4Member2024-01-012024-09-300001601072aby:Helioenergy1And2Member2024-01-012024-09-300001601072aby:CadonalMember2024-01-012024-09-300001601072aby:PalmuchoMember2024-01-012024-09-300001601072aby:PS20Member2024-01-012024-09-300001601072aby:Helios1Member2024-01-012024-09-300001601072aby:Helios2Member2024-01-012024-09-300001601072aby:Solaben3Member2024-01-012024-09-300001601072aby:Quadra1Member2024-01-012024-09-300001601072aby:Solacor1Member2024-01-012024-09-300001601072aby:Solaben2Member2024-01-012024-09-300001601072aby:Solaben1Member2024-01-012024-09-300001601072aby:PS10Member2024-01-012024-09-300001601072aby:Solnova3Member2024-01-012024-09-300001601072aby:Solaben6Member2024-01-012024-09-300001601072aby:Solacor2Member2024-01-012024-09-300001601072aby:Helioenergy1Member2024-01-012024-09-300001601072aby:Solnova4Member2024-01-012024-09-300001601072aby:Quadra2Member2024-01-012024-09-300001601072aby:Helioenergy2Member2024-01-012024-09-300001601072aby:Solnova1Member2024-01-012024-09-300001601072aby:Solaben2AndSolaben3Memberaby:ItochuCorporationMember2024-01-012024-09-300001601072aby:TenesMemberaby:AlgerianEnergyCompanySPAMember2024-01-012024-09-300001601072aby:JGCCorporationMemberaby:Solacor1AndSolacor2Member2024-01-012024-09-300001601072aby:HonaineMemberaby:SacyrAguaSLMember2024-01-012024-09-300001601072aby:AlgerianEnergyCompanySPAMemberaby:HonaineMember2024-01-012024-09-300001601072aby:SacyrAguaSLMemberaby:SkikdaMember2024-01-012024-09-300001601072aby:KaxuMemberaby:IndustrialDevelopmentCorporationOfSouthAfricaMember2024-01-012024-09-300001601072aby:AlgerianEnergyCompanySPAMemberaby:SkikdaMember2024-01-012024-09-300001601072aby:KaxuCommunityTrustMemberaby:KaxuMember2024-01-012024-09-300001601072aby:SevillePVMemberaby:InstitutoParaLaDiversificacionYAhorroDeLaEnergiaMember2024-01-012024-09-300001601072aby:Apulo1Member2024-01-012024-09-300001601072aby:ChilePMGDMember2024-01-012024-09-300001601072aby:CaparacenaMember2024-01-012024-09-300001601072aby:ChilePV3ExpansionMember2024-01-012024-09-300001601072aby:CosoBatteries1Member2024-01-012024-09-300001601072aby:CosoBatteries2Member2024-01-012024-09-300001601072aby:ATNExpansion1Member2024-01-012024-09-300001601072aby:CaparacenaMember2024-05-012024-05-310001601072ifrs-full:TopOfRangeMemberaby:ChilePMGDMember2024-01-012024-09-300001601072ifrs-full:BottomOfRangeMemberaby:ChilePMGDMember2024-01-012024-09-300001601072aby:ATNExpansion1Member2024-09-300001601072aby:CaparacenaMemberifrs-full:BottomOfRangeMember2024-09-300001601072aby:ChilePV3ExpansionMemberifrs-full:BottomOfRangeMember2024-09-300001601072aby:CosoBatteries1Memberifrs-full:BottomOfRangeMember2024-09-300001601072aby:Apulo1Member2024-09-300001601072aby:ChilePMGDMember2024-09-300001601072aby:CosoBatteries2Memberifrs-full:BottomOfRangeMember2024-09-300001601072aby:ChilePV3ExpansionMemberifrs-full:TopOfRangeMember2024-09-300001601072aby:CaparacenaMemberifrs-full:TopOfRangeMember2024-09-300001601072aby:ChilePMGDMember2022-11-300001601072ifrs-full:TopOfRangeMemberaby:CosoBatteries1Member2024-09-300001601072ifrs-full:TopOfRangeMemberaby:CosoBatteries2Member2024-09-300001601072aby:ChilePV2Member2024-09-300001601072aby:CosoBatteries1AndCosoBatteries2Member2023-10-012023-10-310001601072aby:CosoBatteries1AndCosoBatteries2Member2024-01-012024-09-300001601072aby:CosoBatteries2Member2023-10-012023-10-310001601072aby:CosoBatteries1Member2023-10-012023-10-310001601072aby:ATNExpansion1Member2023-07-012023-07-310001601072aby:RenewableEnergyMember2024-01-012024-09-300001601072aby:EfficientNaturalGasMember2024-01-012024-09-300001601072aby:RenewableEnergyMember2023-01-012023-09-300001601072srt:NorthAmericaMember2024-01-012024-09-300001601072srt:NorthAmericaMember2023-01-012023-09-300001601072aby:EfficientNaturalGasMember2023-01-012023-09-300001601072aby:RegionsOfEuropeMiddleEastAndAfricaMember2023-01-012023-09-300001601072srt:SouthAmericaMember2023-01-012023-09-300001601072aby:ElectricTransmissionLinesMember2023-01-012023-09-300001601072aby:ElectricTransmissionLinesMember2024-01-012024-09-300001601072srt:SouthAmericaMember2024-01-012024-09-300001601072aby:RegionsOfEuropeMiddleEastAndAfricaMember2024-01-012024-09-300001601072aby:WaterMember2023-01-012023-09-300001601072aby:WaterMember2024-01-012024-09-300001601072ifrs-full:MaterialReconcilingItemsMember2024-01-012024-09-300001601072ifrs-full:MaterialReconcilingItemsMember2023-01-012023-09-300001601072ifrs-full:OperatingSegmentsMember2024-09-300001601072srt:NorthAmericaMember2024-09-300001601072srt:SouthAmericaMember2023-12-310001601072aby:RegionsOfEuropeMiddleEastAndAfricaMember2023-12-310001601072srt:NorthAmericaMember2023-12-310001601072ifrs-full:OperatingSegmentsMember2023-12-310001601072aby:RegionsOfEuropeMiddleEastAndAfricaMember2024-09-300001601072srt:SouthAmericaMember2024-09-300001601072ifrs-full:UnallocatedAmountsMember2023-12-310001601072ifrs-full:UnallocatedAmountsMember2024-09-300001601072aby:EfficientNaturalGasMember2024-09-300001601072aby:ElectricTransmissionLinesMember2023-12-310001601072aby:ElectricTransmissionLinesMember2024-09-300001601072aby:RenewableEnergyMember2023-12-310001601072aby:WaterMember2023-12-310001601072aby:WaterMember2024-09-300001601072aby:RenewableEnergyMember2024-09-300001601072aby:EfficientNaturalGasMember2023-12-310001601072aby:AssetAcquisition2024Member2024-09-300001601072aby:AssetAcquisition2024Member2024-03-012024-03-310001601072aby:AssetAcquisition2024Member2024-01-012024-09-300001601072aby:AssetAcquisition2023Member2023-12-310001601072aby:AssetAcquisition2023Member2023-01-012023-12-3100016010722023-01-012023-12-310001601072aby:FinancialAssetsUnderIFRS16LessorMemberifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember2024-09-300001601072aby:IntangibleAssetsUnderIFRIC12Memberifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember2023-12-310001601072ifrs-full:LandMemberaby:PropertyPlantAndEquipmentUnderIAS16Member2024-09-300001601072ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember2023-12-310001601072aby:IntangibleAssetsUnderIFRIC12Memberifrs-full:GrossCarryingAmountMember2023-12-310001601072aby:IntangibleAssetsUnderIFRIC12Memberifrs-full:GrossCarryingAmountMember2024-09-300001601072ifrs-full:GrossCarryingAmountMemberaby:PropertyPlantAndEquipmentUnderIAS16Memberifrs-full:LandMember2024-09-300001601072aby:PropertyPlantAndEquipmentUnderIAS16Memberifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberaby:TechnicalInstallationsMember2023-12-310001601072aby:FinancialAssetsUnderIFRIC12Member2024-09-300001601072aby:PropertyPlantAndEquipmentUnderIAS16Memberaby:TechnicalInstallationsMember2024-09-300001601072ifrs-full:LandMemberaby:PropertyPlantAndEquipmentUnderIAS16Memberifrs-full:GrossCarryingAmountMember2023-12-310001601072ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberaby:TechnicalInstallationsMemberaby:PropertyPlantAndEquipmentUnderIAS16Member2024-09-300001601072aby:TechnicalInstallationsMemberaby:PropertyPlantAndEquipmentUnderIAS16Member2023-12-310001601072aby:IntangibleAssetsUnderIFRIC12Memberifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember2024-09-300001601072ifrs-full:GrossCarryingAmountMemberaby:FinancialAssetsUnderIFRS16LessorMember2024-09-300001601072aby:FinancialAssetsUnderIFRS16LessorMember2024-09-300001601072ifrs-full:GrossCarryingAmountMember2023-12-310001601072ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberaby:PropertyPlantAndEquipmentUnderIAS16Memberifrs-full:LandMember2024-09-300001601072aby:FinancialAssetsUnderIFRS16LessorMemberifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember2023-12-310001601072aby:PropertyPlantAndEquipmentUnderIAS16Memberifrs-full:GrossCarryingAmountMemberaby:TechnicalInstallationsMember2023-12-310001601072aby:IntangibleAssetsUnderIFRIC12Member2024-09-300001601072aby:FinancialAssetsUnderIFRIC12Member2023-12-310001601072aby:RightOfUseAssetsUnderIFRS16LesseeAndIntangibleAssetsUnderIIAS38Member2024-09-300001601072ifrs-full:GrossCarryingAmountMember2024-09-300001601072ifrs-full:GrossCarryingAmountMemberaby:FinancialAssetsUnderIFRS16LessorMember2023-12-310001601072ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberaby:FinancialAssetsUnderIFRIC12Member2023-12-310001601072aby:PropertyPlantAndEquipmentUnderIAS16Memberaby:TechnicalInstallationsMemberifrs-full:GrossCarryingAmountMember2024-09-300001601072aby:FinancialAssetsUnderIFRS16LessorMember2023-12-310001601072aby:RightOfUseAssetsUnderIFRS16LesseeAndIntangibleAssetsUnderIIAS38Memberifrs-full:GrossCarryingAmountMember2024-09-300001601072aby:FinancialAssetsUnderIFRIC12Memberifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember2024-09-300001601072ifrs-full:LandMemberaby:PropertyPlantAndEquipmentUnderIAS16Member2023-12-310001601072ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMember2024-09-300001601072aby:RightOfUseAssetsUnderIFRS16LesseeAndIntangibleAssetsUnderIIAS38Member2023-12-310001601072aby:FinancialAssetsUnderIFRIC12Memberifrs-full:GrossCarryingAmountMember2024-09-300001601072ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberaby:RightOfUseAssetsUnderIFRS16LesseeAndIntangibleAssetsUnderIIAS38Member2023-12-310001601072aby:RightOfUseAssetsUnderIFRS16LesseeAndIntangibleAssetsUnderIIAS38Memberifrs-full:GrossCarryingAmountMember2023-12-310001601072ifrs-full:GrossCarryingAmountMemberaby:FinancialAssetsUnderIFRIC12Member2023-12-310001601072aby:IntangibleAssetsUnderIFRIC12Member2023-12-310001601072ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberaby:RightOfUseAssetsUnderIFRS16LesseeAndIntangibleAssetsUnderIIAS38Member2024-09-300001601072ifrs-full:LandMemberifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberaby:PropertyPlantAndEquipmentUnderIAS16Member2023-12-310001601072aby:AssociatesOneMember2024-09-300001601072aby:MurumSolarSLUMember2024-09-300001601072aby:SailH2IngenieriaSLMember2024-09-300001601072aby:AssociatesTwoMember2023-12-310001601072aby:SailH2IngenieriaSLMember2023-12-310001601072aby:AssociatesTenMember2024-09-300001601072aby:Two007VentoIILLCMember2024-09-300001601072aby:Two007VentoIILLCMember2023-12-310001601072aby:EcorerSACMember2023-12-310001601072aby:AssociatesThreeMember2024-09-300001601072aby:FontanilSolarSLUMember2023-12-310001601072aby:ColombianPortfolioOfRenewableEnergyEntitiesMember2023-12-310001601072aby:MurumSolarSLUMember2023-12-310001601072aby:ColombianPortfolioOfRenewableEnergyEntitiesMember2024-09-300001601072aby:FontanilSolarSLUMember2024-09-300001601072aby:AssociatesThreeMember2023-12-310001601072aby:AssociatesTwoMember2024-09-300001601072aby:EcorerSACMember2024-09-300001601072aby:AkuoAtlanticaPMGDHoldingSPAMember2024-09-300001601072aby:AkuoAtlanticaPMGDHoldingSPAMember2023-12-310001601072aby:AssociatesTenMember2023-12-310001601072aby:AssociatesOneMember2023-12-310001601072aby:AkuoAtlanticaPMGDHoldingSPAMember2022-11-302022-11-300001601072aby:Two007VentoIILLCMember2021-06-162021-06-160001601072aby:GeidaTlemcenSLMemberaby:AssociatesTwoMember2024-01-012024-09-300001601072aby:AtlanticaYieldEnergySolutionsCanadaIncMember2024-01-012024-09-300001601072aby:GeidaTlemcenSLMember2024-01-012024-09-300001601072aby:AkuoAtlanticaPMGDHoldingSPAMemberifrs-full:CorporateLoansMember2024-01-012024-09-300001601072aby:AkuoAtlanticaPMGDHoldingSPAMember2024-01-012024-09-300001601072aby:AkuoAtlanticaPMGDHoldingSPAMemberifrs-full:InvestmentsAccountedForUsingEquityMethodMember2024-01-012024-09-300001601072aby:WindlectricIncMember2024-01-012024-09-300001601072aby:EcorerSACMember2024-01-012024-09-300001601072aby:ColombianPortfolioOfRenewableEnergyEntitiesMember2024-01-012024-09-300001601072aby:Two007VentoIILLCMember2024-01-012024-09-300001601072aby:AtlanticaYieldEnergySolutionsCanadaIncMember2024-09-092024-09-090001601072aby:MonterreyMember2023-01-012023-12-310001601072ifrs-full:NoncurrentAssetsHeldForSaleMember2023-12-310001601072aby:MonterreyMember2024-01-012024-09-300001601072aby:MonterreyMemberifrs-full:TopOfRangeMember2024-04-300001601072aby:ChilePV1Member2024-09-300001601072aby:AtlanticaYieldEnergySolutionsCanadaIncMember2024-09-300001601072aby:TenWestLinkMember2024-09-300001601072aby:TenWestLinkMember2024-01-012024-09-300001601072ifrs-full:CashFlowHedgesMember2024-09-300001601072ifrs-full:CashFlowHedgesMember2023-12-310001601072ifrs-full:CashFlowHedgesMemberifrs-full:CurrencyRiskMember2024-09-300001601072ifrs-full:InterestRateRiskMemberifrs-full:CashFlowHedgesMember2024-09-300001601072ifrs-full:InterestRateRiskMemberifrs-full:CashFlowHedgesMember2023-12-310001601072ifrs-full:CashFlowHedgesMemberifrs-full:EquityPriceRiskMember2024-09-300001601072ifrs-full:CashFlowHedgesMemberifrs-full:EquityPriceRiskMember2023-12-310001601072ifrs-full:CurrencyRiskMemberifrs-full:CashFlowHedgesMember2023-12-310001601072ifrs-full:InterestRateRiskMemberifrs-full:CashFlowHedgesMember2023-01-012023-09-300001601072ifrs-full:CashFlowHedgesMemberifrs-full:InterestRateRiskMember2024-01-012024-09-300001601072currency:EURifrs-full:InterestRateRiskMember2024-01-012024-09-300001601072aby:AlgonquinPowerCoMemberifrs-full:NoncontrollingInterestsMemberifrs-full:RelatedPartiesMember2024-09-300001601072ifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:RelatedPartiesMemberaby:ColombianAssetsPortfolioMember2023-12-310001601072ifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:RelatedPartiesMemberaby:ArroyoNetherlandsIIBVMember2024-09-300001601072ifrs-full:RelatedPartiesMemberaby:JGCCorporationMemberifrs-full:NoncontrollingInterestsMember2024-09-300001601072ifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:RelatedPartiesMemberaby:AmherstIslandPartnershipMember2023-12-310001601072ifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:RelatedPartiesMemberaby:ColombianAssetsPortfolioMember2024-09-300001601072ifrs-full:NoncontrollingInterestsMemberifrs-full:RelatedPartiesMemberaby:AlgerianEnergyCompanySPAMember2023-12-310001601072ifrs-full:RelatedPartiesMemberaby:EquityMethodInvestmentsOtherMemberifrs-full:InvestmentsAccountedForUsingEquityMethodMember2024-09-300001601072ifrs-full:RelatedPartiesMemberaby:AkuoAtlanticaPMGDHoldingSPAMemberifrs-full:InvestmentsAccountedForUsingEquityMethodMember2023-12-310001601072ifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:RelatedPartiesMemberaby:AmherstIslandPartnershipMember2024-09-300001601072ifrs-full:RelatedPartiesMemberaby:NonControllingInterestOtherMemberifrs-full:NoncontrollingInterestsMember2024-09-300001601072ifrs-full:RelatedPartiesMember2024-09-300001601072aby:AtlanticasPartnerInColombiaMemberifrs-full:OtherRelatedPartiesMember2023-12-310001601072ifrs-full:RelatedPartiesMemberifrs-full:NoncontrollingInterestsMemberaby:AlgerianEnergyCompanySPAMember2024-09-300001601072aby:ArroyoNetherlandsIIBVMemberifrs-full:RelatedPartiesMemberifrs-full:InvestmentsAccountedForUsingEquityMethodMember2023-12-310001601072ifrs-full:RelatedPartiesMember2023-12-310001601072ifrs-full:RelatedPartiesMemberaby:AkuoAtlanticaPMGDHoldingSPAMemberifrs-full:InvestmentsAccountedForUsingEquityMethodMember2024-09-300001601072aby:EcorerSACMemberifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:RelatedPartiesMember2023-12-310001601072ifrs-full:RelatedPartiesMemberaby:NonControllingInterestOtherMemberifrs-full:NoncontrollingInterestsMember2023-12-310001601072ifrs-full:InvestmentsAccountedForUsingEquityMethodMemberaby:EcorerSACMemberifrs-full:RelatedPartiesMember2024-09-300001601072aby:JGCCorporationMemberifrs-full:NoncontrollingInterestsMemberifrs-full:RelatedPartiesMember2023-12-310001601072aby:AtlanticasPartnerInColombiaMemberifrs-full:OtherRelatedPartiesMember2024-09-300001601072aby:EquityMethodInvestmentsOtherMemberifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:RelatedPartiesMember2023-12-310001601072ifrs-full:NoncontrollingInterestsMemberifrs-full:RelatedPartiesMemberaby:AlgonquinPowerCoMember2023-12-310001601072aby:ColombianAssetsPortfolioMemberifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:SubsidiariesMember2023-01-012023-09-300001601072aby:NonControllingInterestOtherMemberifrs-full:NoncontrollingInterestsMemberifrs-full:SubsidiariesMember2023-01-012023-09-300001601072ifrs-full:SubsidiariesMember2023-01-012023-09-300001601072ifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:SubsidiariesMemberaby:EquityMethodInvestmentsOtherMember2024-01-012024-09-300001601072ifrs-full:NoncontrollingInterestsMemberifrs-full:SubsidiariesMemberaby:NonControllingInterestOtherMember2024-01-012024-09-300001601072ifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:SubsidiariesMemberaby:ArroyoNetherlandsIIBVMember2024-01-012024-09-300001601072ifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:SubsidiariesMemberaby:EquityMethodInvestmentsOtherMember2023-01-012023-09-300001601072aby:AkuoAtlanticaPMGDHoldingSPAMemberifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:SubsidiariesMember2024-01-012024-09-300001601072ifrs-full:SubsidiariesMember2024-01-012024-09-300001601072ifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:SubsidiariesMemberaby:ColombianAssetsPortfolioMember2024-01-012024-09-300001601072ifrs-full:SubsidiariesMemberifrs-full:InvestmentsAccountedForUsingEquityMethodMemberaby:AkuoAtlanticaPMGDHoldingSPAMember2023-01-012023-09-300001601072aby:ArroyoNetherlandsIIBVMemberifrs-full:InvestmentsAccountedForUsingEquityMethodMemberifrs-full:SubsidiariesMember2023-01-012023-09-300001601072aby:AtlanticaYieldEnergySolutionsCanadaIncMember2023-12-310001601072aby:EuroInterbankOfferedRateMemberaby:JGCCorporationMember2024-09-300001601072aby:SecuredOvernightFinancingRateMemberaby:ArroyoNetherlandsIIBVMember2024-09-300001601072aby:AkuoAtlanticaPMGDHoldingSPAMemberifrs-full:FixedInterestRateMember2024-09-300001601072ifrs-full:FixedInterestRateMemberaby:ColombianAssetsPortfolioMember2024-09-300001601072aby:AkuoAtlanticaPMGDHoldingSPAMemberifrs-full:CorporateLoansMember2024-01-012024-09-300001601072aby:ColombianAssetsPortfolioMember2024-01-012024-09-300001601072aby:LongTermIncentivePlansMember2023-09-300001601072aby:LongTermIncentivePlansMember2024-09-300001601072ifrs-full:NotLaterThanThreeMonthsMember2024-05-072024-05-070001601072ifrs-full:LaterThanThreeMonthsAndNotLaterThanSixMonthsMember2024-07-312024-07-310001601072aby:LaterThanNineMonthsAndNotLaterThanTwelveMonthsMember2024-02-292024-02-290001601072aby:AlgonquinMember2023-01-012023-09-300001601072aby:ItochuCorporationMember2024-01-012024-09-300001601072aby:AlgerianEnergyCompanySPAMember2024-01-012024-09-300001601072aby:AlgerianEnergyCompanySPAMember2023-01-012023-09-300001601072aby:ItochuCorporationMember2023-01-012023-09-300001601072aby:ChilePV3Member2023-01-012023-09-300001601072aby:GreenSeniorNotesMember2021-05-180001601072aby:GreenPrivatePlacementMember2020-03-3100016010722023-02-240001601072aby:BancoBilbaoVizcayaArgentariaLoanMember2022-01-310001601072aby:GreenExchangeableNotesDue2025Member2020-07-170001601072aby:SeniorNoteIssuanceFacilityOneMember2020-07-080001601072aby:BankLoanMember2020-12-040001601072aby:CreditFacility2017Member2023-08-070001601072aby:CreditFacility2017Memberifrs-full:TopOfRangeMember2017-07-200001601072aby:NewRevolvingCreditFacilityMember2024-09-300001601072aby:NewRevolvingCreditFacilityMember2018-05-100001601072aby:LettersOfCreditMember2024-09-300001601072aby:NewRevolvingCreditFacilityMember2024-01-012024-09-300001601072aby:LettersOfCreditMember2024-01-012024-09-300001601072aby:CreditFacility2017Member2023-01-012023-12-310001601072aby:LettersOfCreditMember2023-01-012023-12-310001601072aby:CreditFacility2017Member2024-01-012024-09-300001601072aby:NewRevolvingCreditFacilityMember2023-01-012023-12-310001601072aby:NewRevolvingCreditFacilityMember2023-12-310001601072aby:EuroInterbankOfferedRateMemberaby:SeniorNoteIssuanceFacilityOneMember2020-07-082020-07-080001601072ifrs-full:BottomOfRangeMemberaby:BaseRateLoansMember2018-05-100001601072aby:SeniorNoteIssuanceFacilityOneMember2023-12-310001601072aby:EuroInterbankOfferedRateMemberifrs-full:BottomOfRangeMemberaby:CreditFacility2017Member2017-07-200001601072aby:BaseRateLoansMemberifrs-full:TopOfRangeMember2018-05-100001601072aby:CreditFacility2017Memberaby:EuroInterbankOfferedRateMember2017-07-200001601072aby:BaseRateLoansMemberaby:FederalFundsRateMember2018-05-100001601072aby:SecuredOvernightFinancingRateMemberaby:CreditFacility2017Member2017-07-200001601072aby:EurodollarRateLoansMemberifrs-full:TopOfRangeMember2018-05-100001601072aby:EuroInterbankOfferedRateMemberaby:SeniorNoteIssuanceFacilityOneMember2020-07-080001601072aby:SecuredOvernightFinancingRateMemberaby:BaseRateLoansMember2018-05-100001601072aby:SecuredOvernightFinancingRateMemberaby:CreditFacility2017Memberifrs-full:BottomOfRangeMember2017-07-200001601072aby:SecuredOvernightFinancingRateMemberaby:EurodollarRateLoansMember2018-05-100001601072ifrs-full:BottomOfRangeMemberaby:EurodollarRateLoansMember2018-05-100001601072aby:GreenExchangeableNotesDue2025Member2024-01-012024-09-300001601072aby:BancoBilbaoVizcayaArgentariaLoanMember2024-01-012024-09-3000016010722023-02-242023-02-240001601072aby:GreenSeniorNotesMember2024-01-012024-09-300001601072aby:SeniorNoteIssuanceFacilityOneMember2024-01-012024-09-300001601072aby:GreenPrivatePlacementMember2024-01-012024-09-300001601072aby:BankLoanMember2024-01-012024-09-300001601072aby:BorrowingsCommercialPaperMember2023-12-310001601072aby:BorrowingsCommercialPaperMember2024-09-300001601072aby:BorrowingsCommercialPaperMember2019-10-080001601072aby:BorrowingsCommercialPaperMember2023-11-210001601072aby:BorrowingsCommercialPaperMember2024-01-012024-09-300001601072aby:GreenExchangeableNotesDue2025Member2020-07-290001601072ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMemberaby:GreenPrivatePlacementMember2024-09-300001601072ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMemberaby:GreenSeniorNotesMember2023-12-310001601072aby:LaterThanNineMonthsAndNotLaterThanOneYearMemberaby:CreditFacility2017Member2024-09-300001601072ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMemberaby:GreenExchangeableNotesDue2025Member2023-12-310001601072aby:GreenSeniorNotesMember2023-12-310001601072ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMemberaby:GreenPrivatePlacementMember2024-09-300001601072aby:SeniorNoteIssuanceFacilityOneMemberifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2024-09-300001601072aby:NotLaterThanNineMonthsMember2024-09-300001601072ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2024-09-300001601072aby:BorrowingsCommercialPaperMemberifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2023-12-310001601072aby:LaterThanNineMonthsAndNotLaterThanOneYearMemberaby:BankLoanOtherMember2024-09-300001601072ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMemberaby:CreditFacility2017Member2024-09-300001601072aby:CreditFacility2017Member2024-09-300001601072aby:BankLoanOtherMemberifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember2023-12-310001601072aby:GreenExchangeableNotesDue2025Memberaby:LaterThanNineMonthsAndNotLaterThanOneYearMember2024-09-300001601072aby:CreditFacility2017Memberaby:LaterThanNineMonthsAndNotLaterThanOneYearOfCurrentYearMember2024-09-300001601072aby:NotLaterThanNineMonthsMemberaby:BankLoanOtherMember2024-09-300001601072ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMemberaby:GreenPrivatePlacementMember2023-12-310001601072aby:GreenExchangeableNotesDue2025Memberaby:NotLaterThanNineMonthsMember2024-09-300001601072aby:LaterThanNineMonthsAndNotLaterThanOneYearOfCurrentYearMemberaby:GreenExchangeableNotesDue2025Member2024-09-300001601072aby:SeniorNoteIssuanceFacilityOneMemberifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2023-12-310001601072aby:SeniorNoteIssuanceFacilityOneMemberifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2023-12-310001601072ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMemberaby:BankLoanOtherMember2023-12-310001601072ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMemberaby:CreditFacility2017Member2023-12-310001601072aby:BankLoanOtherMember2023-12-310001601072ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMemberaby:NewRevolvingCreditFacilityMember2024-09-300001601072aby:BorrowingsCommercialPaperMemberifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2023-12-310001601072ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2024-09-300001601072aby:SeniorNoteIssuanceFacilityOneMemberifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember2023-12-310001601072ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2023-12-310001601072ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMemberaby:BankLoanOtherMember2023-12-310001601072ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMemberaby:SeniorNoteIssuanceFacilityOneMember2024-09-300001601072aby:SeniorNoteIssuanceFacilityOneMember2024-09-300001601072ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMemberaby:GreenSeniorNotesMember2023-12-310001601072ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMemberaby:BankLoanOtherMember2023-12-310001601072ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMemberaby:BorrowingsCommercialPaperMember2023-12-310001601072ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2023-12-310001601072ifrs-full:NotLaterThanOneYearMemberaby:GreenPrivatePlacementMember2023-12-310001601072ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMemberaby:BorrowingsCommercialPaperMember2024-09-300001601072aby:GreenSeniorNotesMemberaby:NotLaterThanNineMonthsMember2024-09-300001601072ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember2023-12-310001601072aby:GreenExchangeableNotesDue2025Member2023-12-310001601072aby:SeniorNoteIssuanceFacilityOneMemberifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2024-09-300001601072aby:LaterThanNineMonthsAndNotLaterThanOneYearOfCurrentYearMemberaby:SeniorNoteIssuanceFacilityOneMember2024-09-300001601072aby:LaterThanNineMonthsAndNotLaterThanOneYearMemberaby:BorrowingsCommercialPaperMember2024-09-300001601072aby:GreenExchangeableNotesDue2025Memberifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2024-09-300001601072aby:GreenPrivatePlacementMember2023-12-310001601072aby:GreenExchangeableNotesDue2025Memberifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2023-12-310001601072ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2024-09-300001601072ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMemberaby:GreenSeniorNotesMember2024-09-300001601072ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMemberaby:GreenSeniorNotesMember2023-12-310001601072aby:GreenPrivatePlacementMemberaby:LaterThanNineMonthsAndNotLaterThanOneYearOfCurrentYearMember2024-09-300001601072aby:GreenExchangeableNotesDue2025Member2024-09-300001601072ifrs-full:NotLaterThanOneYearMemberaby:SeniorNoteIssuanceFacilityOneMember2023-12-310001601072ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMemberaby:NewRevolvingCreditFacilityMember2024-09-300001601072aby:LaterThanNineMonthsAndNotLaterThanOneYearMemberaby:GreenSeniorNotesMember2024-09-300001601072ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMemberaby:GreenExchangeableNotesDue2025Member2023-12-310001601072aby:LaterThanNineMonthsAndNotLaterThanOneYearOfCurrentYearMember2024-09-300001601072ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMemberaby:SeniorNoteIssuanceFacilityOneMember2023-12-310001601072aby:BankLoanOtherMember2024-09-300001601072ifrs-full:NotLaterThanOneYearMember2023-12-310001601072aby:LaterThanNineMonthsAndNotLaterThanOneYearOfCurrentYearMemberaby:GreenSeniorNotesMember2024-09-300001601072aby:CreditFacility2017Memberifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2023-12-310001601072aby:LaterThanNineMonthsAndNotLaterThanOneYearMember2024-09-300001601072ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMemberaby:GreenSeniorNotesMember2023-12-310001601072ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMemberaby:BankLoanOtherMember2024-09-300001601072aby:BorrowingsCommercialPaperMemberaby:LaterThanNineMonthsAndNotLaterThanOneYearOfCurrentYearMember2024-09-300001601072aby:NewRevolvingCreditFacilityMemberifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2024-09-300001601072aby:BankLoanOtherMemberifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2024-09-300001601072aby:GreenPrivatePlacementMemberaby:NotLaterThanNineMonthsMember2024-09-300001601072ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMemberaby:GreenPrivatePlacementMember2024-09-300001601072aby:GreenSeniorNotesMemberifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2024-09-300001601072aby:GreenPrivatePlacementMember2024-09-300001601072aby:NewRevolvingCreditFacilityMemberaby:LaterThanNineMonthsAndNotLaterThanOneYearMember2024-09-300001601072aby:GreenPrivatePlacementMemberifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2023-12-310001601072ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMemberaby:CreditFacility2017Member2023-12-310001601072ifrs-full:NotLaterThanOneYearMemberaby:NewRevolvingCreditFacilityMember2023-12-310001601072aby:LaterThanNineMonthsAndNotLaterThanOneYearMemberaby:GreenPrivatePlacementMember2024-09-300001601072ifrs-full:NotLaterThanOneYearMemberaby:BankLoanOtherMember2023-12-310001601072aby:NewRevolvingCreditFacilityMemberifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2023-12-310001601072aby:GreenSeniorNotesMemberifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2024-09-300001601072aby:NewRevolvingCreditFacilityMemberifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2023-12-310001601072aby:BorrowingsCommercialPaperMemberifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2024-09-300001601072aby:CreditFacility2017Memberifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2024-09-300001601072aby:GreenPrivatePlacementMemberifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2023-12-310001601072aby:NewRevolvingCreditFacilityMemberaby:LaterThanNineMonthsAndNotLaterThanOneYearOfCurrentYearMember2024-09-300001601072aby:SeniorNoteIssuanceFacilityOneMemberaby:NotLaterThanNineMonthsMember2024-09-300001601072aby:BorrowingsCommercialPaperMemberifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember2023-12-310001601072ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2023-12-310001601072aby:CreditFacility2017Memberifrs-full:NotLaterThanOneYearMember2023-12-310001601072aby:BorrowingsCommercialPaperMemberifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2024-09-300001601072ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMemberaby:GreenExchangeableNotesDue2025Member2023-12-310001601072ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMemberaby:NewRevolvingCreditFacilityMember2023-12-310001601072ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMemberaby:GreenPrivatePlacementMember2023-12-310001601072aby:BankLoanOtherMemberaby:LaterThanNineMonthsAndNotLaterThanOneYearOfCurrentYearMember2024-09-300001601072aby:GreenExchangeableNotesDue2025Memberifrs-full:NotLaterThanOneYearMember2023-12-310001601072aby:GreenExchangeableNotesDue2025Memberifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2024-09-300001601072ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMemberaby:CreditFacility2017Member2024-09-300001601072ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMemberaby:CreditFacility2017Member2023-12-310001601072ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMemberaby:BankLoanOtherMember2024-09-300001601072aby:NotLaterThanNineMonthsMemberaby:NewRevolvingCreditFacilityMember2024-09-300001601072aby:GreenSeniorNotesMember2024-09-300001601072ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMemberaby:GreenExchangeableNotesDue2025Member2024-09-300001601072aby:CreditFacility2017Member2023-12-310001601072aby:GreenSeniorNotesMemberifrs-full:NotLaterThanOneYearMember2023-12-310001601072aby:BorrowingsCommercialPaperMemberifrs-full:NotLaterThanOneYearMember2023-12-310001601072aby:LaterThanNineMonthsAndNotLaterThanOneYearMemberaby:SeniorNoteIssuanceFacilityOneMember2024-09-300001601072ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMemberaby:NewRevolvingCreditFacilityMember2023-12-310001601072aby:CreditFacility2017Memberaby:NotLaterThanNineMonthsMember2024-09-300001601072aby:BorrowingsCommercialPaperMemberaby:NotLaterThanNineMonthsMember2024-09-300001601072aby:GreenPrivatePlacementAndGreenExchangeableNotesDue2025Member2024-01-012024-09-300001601072aby:SeniorNoteIssuanceFacilityOneAndGreenSeniorNotesMember2024-01-012024-09-300001601072aby:GreenSeniorNotesTwoMember2024-01-012024-09-300001601072aby:GreenSeniorNotesTwoMember2023-03-310001601072aby:PS10PS20AndCaparacenaMember2024-01-012024-09-300001601072aby:PS10AndPS20Member2024-09-300001601072ifrs-full:LaterThanThreeMonthsAndNotLaterThanOneYearMember2024-09-300001601072ifrs-full:LaterThanFiveYearsMember2023-12-310001601072ifrs-full:LaterThanFiveYearsMember2024-09-300001601072aby:ChilePV1AndPV2Member2023-01-012023-12-310001601072aby:ChilePV1AndPV2Member2023-12-310001601072aby:ChilePV1AndPV2Member2024-09-300001601072aby:UnitedStatesDepartmentOfTheTreasuryMember2024-09-300001601072aby:FederalFinancingBankMember2024-09-300001601072aby:UnitedStatesDepartmentOfTheTreasuryMember2023-12-310001601072aby:FederalFinancingBankMember2023-12-310001601072aby:SolanaAndMojaveMember2023-01-012023-09-300001601072aby:SolanaAndMojaveMember2024-01-012024-09-300001601072aby:MonterreyMember2023-01-012023-09-300001601072aby:ColombianPortfolioOfRenewableEnergyEntitiesMember2023-01-012023-09-300001601072ifrs-full:EquityPriceRiskMember2024-01-012024-09-300001601072ifrs-full:EquityPriceRiskMember2023-01-012023-09-300001601072aby:UnitedKingdomWind1AndUnitedKingdomWind2AssetsMemberifrs-full:UnusedTaxLossesMember2024-01-012024-09-300001601072aby:SubsequentEventsMember2024-11-142024-11-14iso4217:USDxbrli:sharesiso4217:USDxbrli:sharesxbrli:pureiso4217:EURaby:Assetutr:MWutr:Hutr:miaby:Agreementaby:Substationaby:Customeraby:WindFarmaby:Voteaby:Type

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2024

Commission File Number 001-36487

Atlantica Sustainable Infrastructure plc

(Exact name of Registrant as Specified in its Charter)

Not Applicable

(Translation of Registrant’s name into English)

Great West House, GW1, 17th floor

Great West Road

Brentford, TW8 9DF

United Kingdom

Tel.: +44 203 499 0465

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

☒ Form 20-F

☐ Form 40-F

~~EXHIBIT~~ATLANTICA ~~INDEX~~SUSTAINABLE INFRASTRUCTURE PLC

Exhibit No.		Description
99.1		Atlantica announces closing of Atlantica’s Acquisition by Energy Capital Partners and Co-Investors expected December 12, 2024.

TABLE OF CONTENTS

		Page
PART I – FINANCIAL INFORMATION

Item 1	Financial Statements	10

Item 2	Management’s Discussion and Analysis of Financial Condition and Results of Operations	44

Item 3	Quantitative and Qualitative Disclosures about Market Risk	73

Item 4	Controls and Procedures	78

PART II – OTHER INFORMATION

Item 1	Legal Proceedings	78

Item 1A	Risk Factors	78

Item 2	Unregistered Sales of Equity Securities and Use of Proceeds	78

Item 3	Defaults upon Senior Securities	78

Item 4	Mine Safety Disclosures	79

Item 5	Other Information	79

Item 6	Exhibits	79

Signature		80

Table of Contents

Definitions

Unless otherwise specified or the context requires otherwise in this quarterly report:

•

references to “2020 Green Private Placement” refer to the €290 million ($323 million) senior secured notes maturing on June 20, 2026, which were issued under a senior secured note purchase agreement entered with a group of institutional investors as purchasers of the notes issued thereunder as further described in “Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources—Sources of Liquidity—2020 Green Private Placement”;

•

references to “Abengoa” refer to Abengoa, S.A. together with its subsidiaries unless the context otherwise requires;

•

references to “ACT” refer to the gas-fired cogeneration facility located inside the Nuevo Pemex Gas Processing Facility near the city of Villahermosa in the State of Tabasco, Mexico;

•

references to “Adjusted EBITDA” have the meaning set forth in “Item 2—Management’s Discussion and Analysis of Financial Condition and Results of Operations—Key Financial Measures”;

•

references to “Albisu” refer to the 10 MW solar PV plant located in Uruguay;

•

references to “Algonquin” refer to, as the context requires, either Algonquin Power & Utilities Corp., a North American diversified generation, transmission and distribution utility, or Algonquin Power & Utilities Corp. together with its subsidiaries;

•

references to “Amherst” refer to the holding company of Windlectric Inc;

•

references to “Annual Consolidated Financial Statements” refer to the audited annual consolidated financial statements as of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021, including the related notes thereto, prepared in accordance with IFRS as issued by the IASB (as such terms are defined herein), included in our Annual Report;

•

references to “Annual Report” refer to our Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 1, 2024;

•

references to “Atlantica Jersey” refer to Atlantica Sustainable Infrastructure Jersey Limited, a wholly-owned subsidiary of Atlantica;

•

references to “ATN” refer to ATN S.A., the operational electric transmission asset in Peru, which is part of the Guaranteed Transmission System;

•

references to “ATS” refer to Atlantica Transmision Sur S.A.;

•

references to “AYES Canada” refer to Atlantica Sustainable Infrastructure Energy Solutions Canada Inc., a vehicle formed by Atlantica and Algonquin to channel co-investment opportunities;

•

references to “Befesa Agua Tenes” refer to Befesa Agua Tenes, S.L.U.;

•

references to “Bidco” refer to California Buyer Limited, a private limited company incorporated in England and Wales, controlled by Energy Capital Partners;

•

references to “cash available for distribution” or “CAFD” refer to the cash distributions received by the Company from its subsidiaries minus cash expenses of the Company (including debt service and general and administrative expenses), including proceeds from the sale of assets;

Table of Contents

•

references to “Calgary District Heating” or “Calgary” refer to the 55 MWt thermal capacity district heating asset in the city of Calgary which we acquired in May 2021;

•

references to “Chile PV 1” refer to the solar PV plant of 55 MW located in Chile;

•

references to “Chile PV 2” refer to the solar PV plant of 40 MW located in Chile;

•

references to “Chile PV 3” refer to the solar PV plant of 73 MW located in Chile;

•

references to “Consolidated Condensed Interim Financial Statements” refer to the consolidated condensed unaudited interim financial statements as of September 30, 2024 and for the nine-month periods ended September 30, 2024 and 2023, including the related notes thereto prepared in accordance with IFRS as issued by the IASB, which form a part of this quarterly report;

•

references to “COD” refer to the commercial operation date of the applicable facility;

•

references to “Coso” refer to the 135 MW geothermal plant located in California;

•

references to “Distribution Agreement” refer to the agreement entered into with BofA Securities, Inc., MUFG Securities Americas Inc. and RBC Capital Markets LLC, as sales agents, dated February 28, 2022, as amended on May 9, 2022, under which we may offer and sell from time to time up to $150 million of our ordinary shares and pursuant to which such sales agents may sell our ordinary shares by any method permitted by law deemed to be an “at the market offering” as defined by Rule 415(a)(4) promulgated under the U.S. Securities Act of 1933;

•

references to “EMEA” refer to Europe, Middle East and Africa;

•

references to “Eskom” refer to Eskom Holdings SOC Limited, together with its subsidiaries, unless the context otherwise requires;

•

references to “EURIBOR” refer to Euro Interbank Offered Rate, a daily reference rate published by the European Money Markets Institute, based on the average interest rates at which Eurozone banks offer to lend unsecured funds to other banks in the euro wholesale money market;

•

references to “Federal Financing Bank” refer to a U.S. government corporation by that name;

•

references to “Fitch” refer to Fitch Ratings Inc.;

•

references to “GAAP” refer to generally accepted accounting standards;

•

references to “Green Exchangeable Notes” refer to the $115 million green exchangeable senior notes due in 2025 issued by Atlantica Jersey on July 17, 2020, and fully and unconditionally guaranteed on a senior, unsecured basis, by Atlantica, as further described in “Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources—Sources of Liquidity—Green Exchangeable Notes”;

•

references to “Green Project Finance” refer to the green project financing agreement entered into between Logrosan, the sub-holding company of Solaben 1 & 6 and Solaben 2 & 3, as borrower, and ING Bank, B.V. and Banco Santander S.A., as lenders, as amended in June 2023;

•

references to “Green Senior Notes” refer to the $400 million green senior notes due in 2028, as further described in “Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources—Sources of Liquidity—Green Senior Notes”;

Table of Contents

•

references to “gross capacity” refer to the maximum, or rated, power generation capacity, in MW, of a facility or group of facilities, without adjusting for the facility’s power parasitics’ consumption, or by our percentage of ownership interest in such facility as of the date of this quarterly report;

•

references to “GW” refer to gigawatts;

•

references to “GWh” refer to gigawatt hour;

•

references to “Honda 1” refer to the 10 MW solar PV plant located in Colombia;

•

references to “Honda 2” refer to the 10 MW solar PV plant located in Colombia;

•

references to “IASB” refer to the International Accounting Standards Board;

•

references to “IFRIC 12” refer to International Financial Reporting Interpretations Committee’s Interpretation 12—Service Concessions Arrangements;

•

references to “IFRS as issued by the IASB” or “IFRS” refer to International Financial Reporting Standards as issued by the IASB;

•

references to “IRA” refer to the U.S. Inflation Reduction Act;

•

references to “ITC” refer to investment tax credits;

•

references to “Kaxu” refer to the 100 MW solar plant located in South Africa;

•

references to “La Sierpe” refer to the 20 MW solar PV plant located in Colombia;

•

references to “La Tolua” refer to the 20 MW solar PV plant located in Colombia;

•

references to “Lone Star II” refer to one of the assets included in our wind portfolio Vento II;

•

references to “Mft³” refer to million standard cubic feet;

•

references to “Monterrey” refer to the 142 MW gas-fired engine facility including 130 MW installed capacity and 12 MW battery capacity, located in Monterrey, Mexico, that was sold in April 2024;

•

references to “Multinational Investment Guarantee Agency” refer to the Multinational Investment Guarantee Agency, a financial institution member of the World Bank Group which provides political insurance and credit enhancement guarantees;

•

references to “MW” refer to megawatts;

•

references to “MWh” refer to megawatt hour;

•

references to “MWt” refer to thermal megawatts;

•

references to “Moody’s” refer to Moody’s Investor Service Inc.;

•

references to “Note Issuance Facility 2020” refer to the senior unsecured note facility dated July 8, 2020, as amended on March 30, 2021, of €140 million ($156 million), with Lucid Agency Services Limited, as facility agent and a group of funds managed by Westbourne Capital, as purchasers of the notes issued thereunder as further described in “Item 2—Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources—Sources of Liquidity—Note Issuance Facility 2020”;

Table of Contents

•

references to “O&M” refer to operation and maintenance services provided at our various facilities;

•

references to “operation” refer to the status of projects that have reached COD (as defined above);

•

references to “Pemex” refer to Petróleos Mexicanos;

•

references to “PG&E” refer to PG&E Corporation and its regulated utility subsidiary, Pacific Gas and Electric Company, collectively;

•

references to “PPA” refer to the power purchase agreements through which our power generating assets have contracted to sell energy to various off-takers;

•

references to “PV” refer to photovoltaic power;

•

references to “Revolving Credit Facility” refer to the credit and guaranty agreement with a syndicate of banks entered into on May 10, 2018, as amended on January 24, 2019, August 2, 2019, December 17, 2019, August 28, 2020, March 1, 2021 and May 5, 2022 providing for a senior secured revolving credit facility in an aggregate principal amount of $450 million as further described in “Item 2—Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources—Sources of Liquidity—Revolving Credit Facility”;

•

references to “SEC” refer to the U.S. Securities and Exchange Commission;

•

references to “Skikda” refer to the seawater desalination plant in Algeria, which is 34% owned by Atlantica;

•

references to “SOFR” refer to Secured Overnight Financing Rate;

•

references to “S&P” refer to S&P Global Rating;

•

references to “Tenes” refer to Ténès Lilmiyah SpA, a water desalination plant in Algeria, which is 51% owned by Befesa Agua Tenes;

•

references to “Tierra Linda” refer to the 10 MW solar PV plant located in Colombia;

•

references to “Transaction” refer to the acquisition of the Company by Bidco, pursuant to the Transaction Agreement;

•

references to “Transaction Agreement” refer to the transaction agreement dated May 27, 2024, entered into, among others, the Company and Bidco providing for, subject to the terms and conditions of such transaction agreement, the acquisition of the Company by Bidco;

•

references to “UK” refer to the United Kingdom;

•

references to “UK Wind 1” refer to the 24.75 MW wind facility located in the United Kingdom which we acquired in March 2024;

•

references to “UK Wind 2” refer to the 7.5 MW wind facility located in the United Kingdom which we acquired in March 2024;

•

references to “U.S.” or “United States” refer to the United States of America;

•

references to “Vento II” refer to the wind portfolio in the U.S. in which we acquired a 49% interest in June 2021; and

•

references to “we,” “us,” “our,” “Atlantica” and the “Company” refer to Atlantica Sustainable Infrastructure plc and its consolidated subsidiaries, and where the context otherwise requires to Atlantica Sustainable Infrastructure plc.

Table of Contents

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

This quarterly report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, strategies, future events or performance (often, but not always, through the use of words or phrases such as may result, are expected to, will continue, is anticipated, likely to be, believe, will, could, should, would, estimated, may, plan, potential, future, projection, goals, target, outlook, predict, aim and intend or words of similar meaning) are not statements of historical facts and may be forward looking. Such statements occur throughout this quarterly report and include statements with respect to our expected trends and outlook, potential market and currency fluctuations, occurrence and effects of certain trigger and conversion events, our capital requirements, changes in market price of our shares, future regulatory requirements, plans or intentions with respect to enhancing our existing debt, the ability to identify and/or make future investments and acquisitions on favorable terms, ability to capture growth opportunities, reputational risks, divergence of interests between our company and that of our largest shareholder, tax and insurance implications, our Company’s and Bidco’s ability to complete the Transaction on the proposed terms or on anticipated timeline and more. Forward-looking statements involve estimates, assumptions and uncertainties. Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, important factors included in “Part I—Item 3.D.—Risk Factors” in our Annual Report (in addition to any assumptions and other factors referred to specifically in connection with such forward-looking statements) and the forward looking statements sections under the Reports of Foreign Private Issuer on Form 6-K dated May 28, 2024, and August 14, 2024, that could have a significant impact on our operations and financial results, and could cause our actual results, performance or achievements, to differ materially from the future results, performance or achievements expressed or implied in forward-looking statements made by us or on our behalf in this quarterly report, in our Annual Report, in presentations, on our website, in response to questions or otherwise. These forward-looking statements include, but are not limited to, statements relating to:

•

the failure to realize the expected benefits of the Transaction;

•

uncertainties related to securing the sanction of the High Court of Justice of England and Wales or the occurrence of any event, change or other circumstance that could give rise to the termination of the Transaction Agreement;

•

risks related to diverting the attention of our management from ongoing business operations;

•

significant transaction costs and/or unknown or inestimable liabilities, including the risk of shareholder litigation related to the Transaction;

•

Bidco’s ability to fund the Transaction;

•

disruption from the Transaction, making it more difficult to conduct business as usual or maintain relationships with customers, employees or suppliers;

•

effects relating to any further announcements in relation to the Transaction or the consummation thereof on the market price of our Company’s shares;

•

the condition of and changes in the debt and equity capital markets and other traditional liquidity sources and our ability to borrow additional funds, refinance existing debt and access capital markets, as well as our substantial indebtedness and the possibility that we may incur additional indebtedness going forward;

•

our plans relating to our financings, including refinancing plans or plans to cancel any credit line;

•

our ability to maintain our credit ratings;

•

the ability of our assets to serve our project debt and comply with financial or other covenants on their terms, including but not limited to our projects’ debts in Chile, and our ability to serve our corporate debt;

Table of Contents

•

the ability of our counterparties, including Pemex, to satisfy their financial commitments or business obligations and our ability to seek new counterparties in a competitive market;

•

government regulation, including compliance with regulatory and permit requirements and changes in, market rules, rates, tariffs, environmental laws and policies affecting renewable energy, including the IRA and recent and potential future changes in regulation defining the remuneration of our solar assets in Spain and Chile;

•

changes in tax laws and regulations, including new legislation on restrictions to tax deductibility in Spain;

•

risks relating to our activities in areas subject to economic, social and political uncertainties;

•

global recession risks, volatility in the financial markets, a persistent inflationary environment, increases in interest rates and supply chain issues, and the related increases in prices of materials, labor, services and other costs and expenses required to operate our business;

•

risks related to our ability to capture growth opportunities, develop, build and complete projects in time and within budget, including construction risks and risks associated with the arrangements with our joint venture partners;

•

our ability to grow organically and inorganically, which depends on our ability to identify attractive development opportunities, attractive potential acquisitions, finance such opportunities and make new investments and acquisitions on favorable terms;

•

our ability to distribute a significant percentage of our cash for distribution as cash dividends;

•

risks relating to new assets and businesses which have a higher risk profile and our ability to transition these successfully;

•

potential environmental liabilities and the cost and conditions of compliance with applicable environmental laws and regulations;

•

risks related to our reliance on suppliers, including financial or technical uncertainties of original equipment manufacturer (OEM) suppliers, among others;

•

risks related to disagreements and disputes with our employees, a union and employees represented by a union;

•

risks related to our ability to maintain appropriate insurance over our assets;

•

risks related to our facilities not performing as expected, unplanned outages, higher than expected operating costs and/ or capital expenditures, including as a result of interruptions or disruptions caused by supply chain issues and trade restrictions;

•

risks related to curtailments in the assets where we do not get compensation for such curtailments;

•

risks related to our exposure to electricity market prices, including regulated assets which have certain exposure to electricity market prices;

•

risks related to our exposure in the labor market;

•

potential issues arising with our operators’ employees including disagreement with employees’ unions and subcontractors;

•

risks related to extreme and chronic weather events related to climate change could damage our assets or result in significant liabilities and cause an increase in our operation and maintenance costs;

Table of Contents

•

the effects of litigation, arbitration and other legal proceedings (including bankruptcy) against us, our subsidiaries, our assets and our employees;

•

price fluctuations, revocation and termination provisions in our off-take agreements and PPAs;

•

risks related to information technology systems and cyber-attacks could significantly impact our operations and business;

•

our electricity generation, our projections thereof and factors affecting production;

•

risks related to our current or previous relationship with Abengoa, our former largest shareholder, including litigation risk;

•

performing the O&M services directly and the successful integration of the O&M employees where the services thereunder have been recently replaced and internalized;

•

our guidance targets or expectations with respect to Adjusted EBITDA derived from low-carbon footprint assets;

•

risks related to our relationship with our shareholders, including Algonquin, our major shareholder;

•

impact of potential pandemics on our business and our off-takers’ financial condition, results of operations and cash flows;

•

reputational and financial damage caused by our off-takers PG&E, Pemex and Eskom;

•

the potential additional proceeds from the earn-out mechanism from the sale of our equity interest in Monterrey;

•

risks related to Russian military actions in Ukraine, military actions in the Middle East, or to the potential escalation of any of the foregoing global geopolitical tensions; and

•

other factors discussed in “Part I—Item 3.D.—Risk Factors” in our Annual Report.

Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances, including, but not limited to, unanticipated events, after the date on which such statement is made, unless otherwise required by law. New factors emerge from time to time, and it is not possible for management to predict all of these factors, nor can it assess the impact of each of these factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained or implied in any forward-looking statement.

Table of Contents

Consolidated condensed statements of financial position as of September 30, 2024 and December 31, 2023

Amounts in thousands of U.S. dollars

			As of September 30,		As of December 31,
	Note (1)		2024		2023
Assets
Non-current assets
Contracted concessional, PP&E and other intangible assets		6		7,051,069		7,204,267
Investments carried under the equity method		7		212,052		230,307
Derivative assets		10		40,052		56,708
Other financial assets		9		75,006		79,874
Deferred tax assets				175,597		160,995

Total non-current assets				7,553,776		7,732,151

Current assets
Inventories				38,059		29,870
Trade and other receivables		13		320,805		286,483
Derivative assets		10		2,800		4,989
Other financial assets		9		199,193		183,897
Cash and cash equivalents				434,559		448,301
				995,416		953,540
Assets held for sale		8		41,242		28,642

Total current assets				1,036,658		982,182

Total assets				8,590,434		8,714,333

(1)	Notes 1 to 23 form an integral part of the Consolidated Condensed Interim Financial Statements.

Table of Contents

Consolidated condensed statements of financial position as of September 30, 2024 and December 31, 2023

Amounts in thousands of U.S. dollars

			As of September 30,			As of December 31,
	Note (1)		2024			2023
Equity and liabilities
Equity attributable to the Company
Share capital		14		11,617			11,616
Share premium		14		536,594			736,594
Capital reserves		14		903,143			858,220
Other reserves		10		299,831			308,002
Accumulated currency translation differences		14		(142,834	)		(139,434	)
Accumulated deficit		14		(315,953	)		(351,521	)
Non-controlling interest		14		152,393			165,332

Total equity				1,444,791			1,588,809

Non-current liabilities
Long-term corporate debt		15		1,002,727			1,050,816
Long-term project debt		16		3,852,892			3,931,873
Grants and other liabilities		17		1,129,241			1,233,808
Derivative liabilities		10		32,697			29,957
Deferred tax liabilities				299,075			271,288

Total non-current liabilities				6,316,632			6,517,742

Current liabilities
Short-term corporate debt		15		201,889			34,022
Short-term project debt		16		395,451			387,387
Trade payables and other current liabilities		18		140,702			141,713
Income and other tax payables				37,246			44,660
				775,288			607,782
Liabilities directly associated with the assets held for sale		8		53,723			-

Total current liabilities				829,011			607,782

Total equity and liabilities				8,590,434			8,714,333

(1)	Notes 1 to 23 form an integral part of the Consolidated Condensed Interim Financial Statements.

Table of Contents

Consolidated condensed statements of profit or loss for the nine-month periods ended September 30, 2024 and 2023

Amounts in thousands of U.S. dollars

			For the nine-month period ended September 30,
	Note (1)		2024			2023
Revenue		4		918,744			858,583
Other operating income		19		91,616			57,402
Employee benefit expenses				(85,174	)		(76,051	)
Depreciation, amortization, and impairment charges		6		(325,578	)		(310,502	)
Other operating expenses		19		(291,943	)		(237,930	)

Operating profit				307,665			291,502

Financial income		20		16,320			17,414
Financial expenses		20		(245,011	)		(243,083	)
Net exchange differences		20		(5,700	)		(244	)
Other financial expense, net		20		(20,319	)		(12,011	)

Financial expense, net				(254,710	)		(237,924	)

Share of profit of entities carried under the equity method		7		15,122			6,905

Profit before income tax				68,077			60,483

Income tax		21		(28,919	)		(11,587	)

Profit for the period				39,158			48,896

Profit attributable to non-controlling interest				(6,482	)		(2,846	)

Profit for the period attributable to the Company				32,676			46,050

Weighted average number of ordinary shares outstanding (thousands) - basic		22		116,161			116,149
Weighted average number of ordinary shares outstanding (thousands) - diluted		22		119,971			119,717
Basic earnings per share (U.S. dollar per share)		22		0.28			0.40
Diluted earnings per share (U.S. dollar per share) (*)		22		0.28			0.40

(*)	Antidilutive effect applied, where applicable (see Note 22)

(1)	Notes 1 to 23 form an integral part of the Consolidated Condensed Interim Financial Statements.

Table of Contents

Consolidated condensed statements of comprehensive income for the nine-month periods ended September 30, 2024 and 2023

Amounts in thousands of U.S. dollars

			For the nine-month period ended September 30,
	Note (1)		2024			2023
Profit for the period				39,158			48,896
Items that may be subject to transfer to profit or loss statement in subsequent periods
Change in fair value of cash flow hedges				6,242			39,853
Currency translation differences				(1,766	)		2,597
Tax effect				(2,109	)		(12,972	)

Net income recognized directly in equity				2,367			29,478

Cash flow hedges		10		(19,603	)		(17,991	)
Tax effect				4,901			4,498

Transfers to profit or loss statement				(14,702	)		(13,493	)

Other comprehensive income				(12,335	)		15,985

Total comprehensive income for the period				26,823			64,881

Total comprehensive income attributable to non-controlling interest				(5,718	)		(2,416	)

Total comprehensive income attributable to the Company				21,105			62,465

(1)	Notes 1 to 23 form an integral part of the Consolidated Condensed Interim Financial Statements.

Table of Contents

Consolidated condensed statements of changes in equity for the nine-month periods ended September 30, 2024 and 2023

Amounts in thousands of U.S. dollars

	Share capital		Share premium			Capital reserves			Other reserves			Accumulated currency translation differences			Accumulated deficit			Total equity attributable to the Company			Non- controlling interests			Total equity
Balance as of January 1, 2023		11,606		986,594			814,951			345,567			(161,307	)		(397,540	)		1,599,871			189,176			1,789,047

Profit for the nine -month period after taxes		-		-			-			-			-			46,050			46,050			2,846			48,896
Change in fair value of cash flow hedges net of transfer to the income statement		-		-			-			20,461			-			-			20,461			1,401			21,862
Currency translation differences		-		-			-			-			4,500			-			4,500			(1,903	)		2,597
Tax effect		-		-			-			(8,546	)		-			-			(8,546	)		72			(8,474	)
Other comprehensive income		-		-			-			11,915			4,500			-			16,415			(430	)		15,985

Total comprehensive income		-		-			-			11,915			4,500			46,050			62,465			2,416			64,881

Divestments		-		-			-			-			-			-			-			(2,817	)		(2,817	)

Reduction of share premium (Note 14)		-		(250,000	)		250,000			-			-			-			-			-			-

Share-based compensation (Note 14)		10		-			-			-			-			1,938			1,948			-			1,948

Capital contribution (Note 14)		-		-			25			-			-			-			25			19,467			19,492

Distributions (Note 14)		-		-			(155,065	)		-			-			-			(155,065	)		(24,673	)		(179,738	)

Balance as of September 30, 2023		11,616		736,594			909,911			357,482			(156,807	)		(349,552	)		1,509,244			183,569			1,692,813

Notes 1 to 23 form an integral part of the Consolidated Condensed Interim Financial Statements.

Table of Contents

	Share capital		Share premium			Capital reserves			Other reserves			Accumulated currency translation differences			Accumulated deficit			Total equity attributable to the Company			Non- controlling interest			Total equity
Balance as of January 1, 2024		11,616		736,594			858,220			308,002			(139,434	)		(351,521	)		1,423,477			165,332			1,588,809

Profit for the nine -month period after taxes		-		-			-			-			-			32,676			32,676			6,482			39,158
Change in fair value of cash flow hedges net of transfer to profit or loss statement		-		-			-			(10,905	)		-			-			(10,905	)		(2,456	)		(13,361	)
Currency translation differences		-		-			-			-			(3,400	)		-			(3,400	)		1,634			(1,766	)
Tax effect		-		-			-			2,734			-			-			2,734			58			2,792
Other comprehensive income		-		-			-			(8,171	)		(3,400	)		-			(11,571	)		(764	)		(12,335	)

Total comprehensive income		-		-			-			(8,171	)		(3,400	)		32,676			21,105			5,718			26,823

Reduction of share premium (Note 14)		-		(200,000	)		200,000			-			-			-			-			-			-

Share-based compensation (Note 14)		1		-			-			-			-			2,892			2,893			-			2,893

Capital contribution (Note 14)		-		-			-			-			-			-			-			1,200			1,200

Distributions (Note 14)		-		-			(155,077	)		-			-			-			(155,077	)		(19,857	)		(174,934	)

Balance as of September 30, 2024		11,617		536,594			903,143			299,831			(142,834	)		(315,953	)		1,292,398			152,393			1,444,791

Table of Contents

Consolidated condensed cash flows statements for the nine-month periods ended September 30, 2024 and 2023

Amounts in thousands of U.S. dollars

			For the nine-month periods ended September 30,
	Note (1)		2024			2023
I. Profit for the period				39,158			48,896
Financial expense and non-monetary adjustments				488,080			560,976

II. Profit for the period adjusted by non-monetary items				527,238			609,872

III. Changes in working capital				(35,030	)		(116,146	)

Net interest and income tax paid				(180,400	)		(159,904	)

A. Net cash provided by operating activities				311,808			333,822

Business combinations and investments in entities under the equity method		5, 7&12		(66,342	)		(17,680	)
Investments in operating concessional assets		6		(13,272	)		(24,738	)
Investments in assets under development or construction		6		(131,196	)		(33,561	)
Distributions from entities under the equity method		7		32,565			28,880
Net divestment in other non-current financial assets				42,664			22,533

B. Net cash used in investing activities				(135,581	)		(24,566	)

Proceeds from project debt		16		47,014			213,725
Proceeds from corporate debt		15		169,259			110,803
Repayment of project debt		16		(168,380	)		(390,119	)
Repayment of corporate debt		15		(63,890	)		(83,356	)
Dividends paid to Company´s shareholders		14		(155,077	)		(155,065	)
Dividends paid to non-controlling interest		14		(22,319	)		(25,759	)
Non-controlling interest capital contribution		14		1,200			19,823

C. Net cash used in financing activities				(192,193	)		(309,948	)

Net decrease in cash and cash equivalents				(15,966	)		(692	)

Cash and cash equivalents at the beginning of the period				448,301			600,990

Translation differences in cash and cash equivalents				2,224			(5,682	)

Cash and cash equivalents at the end of the period				434,559			594,616

(1) Notes 1 to 23 form an integral part of the Consolidated Condensed Interim Financial Statements.

Table of Contents

Notes to the consolidated condensed interim financial statements

Note 1.- Nature of the business	18

Note 2.- Basis of preparation	22

Note 3.- Financial risk management	23

Note 4.- Financial information by segment	23

Note 5.- Business combinations	28

Note 6.- Contracted concessional, PP&E and other intangible assets	29

Note 7.- Investments carried under the equity method	30

Note 8.- Assets held for sale	31

Note 9.- Financial assets	32

Note 10.- Derivative financial instruments	33

Note 11.- Fair value of financial instruments	33

Note 12.- Related parties	34

Note 13.- Trade and other receivables	35

Note 14.- Equity	35

Note 15.- Corporate debt	37

Note 16.- Project debt	39

Note 17.- Grants and other liabilities	40

Note 18.-Trade payables and other current liabilities	40

Note 19.- Other operating income and expenses	41

Note 20.- Financial expense, net	42

Note 21.- Income tax	42

Note 22.- Earnings per share	43

Note 23.- Subsequent events	43

Table of Contents

Note 1. - Nature of the business

Atlantica Sustainable Infrastructure plc (“Atlantica” or the “Company”) is a sustainable infrastructure company with a majority of its business in renewable energy assets. Atlantica currently owns, manages and invests in renewable energy, storage, efficient natural gas and heat, electric transmission lines and water assets focused on North America (the United States, Canada and Mexico), South America (Peru, Chile, Colombia and Uruguay) and EMEA (United Kingdom, Spain, Italy, Algeria and South Africa). Its registered address is Great West House, GW1 Great West Road Brentford TW8 9DF, London (United Kingdom).

Atlantica’s shares trade on the NASDAQ Global Select Market under the symbol “AY”.

On May 27, 2024, Atlantica entered into a definitive agreement (the “Transaction Agreement”) pursuant to which a private limited company, Bidco, incorporated in England and Wales agreed, subject to the terms of the Transaction Agreement, to acquire 100% of the shares of Atlantica for $22 per share in cash. Bidco is controlled by funds managed by Energy Capital Partners and includes a large group of institutional co-investors. The transaction is to be completed pursuant to a scheme of arrangement under the Companies Act 2006 of the United Kingdom.

All regulatory approvals required in connection with the transaction (including clearance by the Committee on Foreign Investment in the United States and by the Federal Energy Regulatory Commission in the United States) have been received. The acquisition is still subject to sanction of the transaction by the High Court of Justice of England and Wales (the “Court”). As previously announced, due to the limited availability of court dates and the mutual desire of the parties to effect an orderly closing of the transaction, the parties agreed a date for the hearing of the Court to sanction the transaction on December 10, 2024. Closing is expected to take place two business days later, on December 12, 2024. In connection with the scheduling of the closing, Atlantica and Energy Capital Partners agreed on a maximum final cash dividend. Upon the completion of the acquisition, Atlantica will become a privately held company and its shares will no longer be listed on any public market. Some transaction costs, including financial advisors, transaction-related bonuses and long-term incentive plans are subject to the occurrence of closing. As such, these are contingent liabilities, which have therefore not been accrued for in these Consolidated Condensed Interim Financial Statements as of September 30, 2024 in accordance with IAS 37, Provisions, Contingent Liabilities and Contingent Assets.

On October 23, 2024, Bidco priced its 6.375% green senior notes due in 2032 in aggregate principal amount of $745 million, and 5.625% green senior notes due 2032 in aggregate principal amount of €500 million in connection with the proposed acquisition of Atlantica.

On March 22, 2024, the Company closed the acquisition of a 100% equity interest stake in two wind assets, UK Wind 1 and UK Wind 2, with a combined installed capacity of 32 MW in Scotland, United Kingdom. The assets are regulated under the UK green attribute regulation and are granted renewables obligation certificates until 2031 on average. The investment amounted to approximately $66 million and the assets currently do not have any project debt. These are Atlantica’s first operating assets in the UK, and the Company expects that the return from these assets will be enhanced by the use of the existing net operating loss carryforwards of the Company in the UK, in the upcoming years.

In April 2024, the Company acquired the Imperial project from Algonquin, a 100 MW PV + storage (4 hours) project in Southern California. On May 6, 2024, the project entered into a 15-year PPA with an investment grade Community Choice Aggregator as off-taker. Total investment is expected to be within the range of $320 million to $340 million, mostly in 2025 and 2026.

In May 2022, the Company agreed to develop and construct Honda 1 and 2, two PV assets in Colombia with a combined capacity of 20 MW, where it has a 50% ownership. Each plant has a 7-year PPA with Enel Colombia. Honda 1 entered into operation in December 2023 and Honda 2 entered into operation in July 2024.

In July 2022 the Company closed a 17-year transmission service agreement denominated in U.S. dollars that allowed to build a substation and a 2.4-miles transmission line connected to ATN transmission line serving a new mine in Peru (ATN Expansion 3). The substation reached commercial operation in August 2024. Atlantica´s investment has been approximately $12 million.

Table of Contents

The following table provides an overview of the main operating assets the Company owned or had an interest in as of September 30, 2024:

Assets	Type	Ownership	Location	Currency⁽⁹⁾	Capacity (Gross)	Counterparty Credit Ratings⁽¹⁰⁾	COD*	Contract Years Remaining⁽¹⁸⁾

Solana	Renewable (Solar)	100%	Arizona (USA)	USD	280 MW	BBB+/Baa1/BBB+	2013	19
Mojave	Renewable (Solar)	100%	California (USA)	USD	280 MW	BB/ Ba1/BB+	2014	15
Coso	Renewable (Geothermal)	100%	California (USA)	USD	135 MW	Investment Grade⁽¹¹⁾	1987-1989	17
Elkhorn Valley⁽¹⁶⁾	Renewable (Wind)	49%	Oregon (USA)	USD	101 MW	BBB/Baa1/--	2007	3
Prairie Star⁽¹⁶⁾	Renewable (Wind)	49%	Minnesota (USA)	USD	101 MW	--/A3/A-	2007	3
Twin Groves II⁽¹⁶⁾	Renewable (Wind)	49%	Illinois (USA)	USD	198 MW	BBB+/Baa1/--	2008	1
Lone Star II⁽¹⁶⁾	Renewable (Wind)	49%	Texas (USA)	USD	196 MW	N/A	2008	N/A
Chile PV 1	Renewable (Solar)	35%⁽¹⁾	Chile	USD	55 MW	N/A	2016	N/A
Chile PV 2	Renewable (Solar)	35%⁽¹⁾	Chile	USD	40 MW	Not rated	2017	6
Chile PV 3	Renewable (Solar)	35%⁽¹⁾	Chile	USD	73 MW	Not rated	2014	10
Chile PMGD	Renewable (Solar)	49%	Chile	USD	9 MW⁽¹⁷⁾	A/A2/A-	2024	10
La Sierpe	Renewable (Solar)	100%	Colombia	COP	20 MW	Not rated	2021	11
La Tolua	Renewable (Solar)	100%	Colombia	COP	20 MW	Not rated	2023	9
Tierra Linda	Renewable (Solar)	100%	Colombia	COP	10 MW	Not rated	2023	9
Honda 1	Renewable (Solar)	50%	Colombia	COP	10 MW	BBB-/-/BBB	2023	6
Honda 2	Renewable (Solar)	50%	Colombia	COP	10 MW	BBB-/-/BBB	2024	7
Albisu	Renewable (Solar)	100%	Uruguay	UYU	10 MW	Not rated	2023	14
Palmatir	Renewable (Wind)	100%	Uruguay	USD	50 MW	BBB+/Baa1/BBB⁽¹²⁾	2014	10
Cadonal	Renewable (Wind)	100%	Uruguay	USD	50 MW	BBB+/Baa1/BBB⁽¹²⁾	2014	10
Melowind	Renewable (Wind)	100%	Uruguay	USD	50 MW	BBB+/Baa1/BBB⁽¹²⁾	2015	11
Mini-Hydro	Renewable (Hydraulic)	100%	Peru	USD	4 MW	BBB-/Baa1/BBB	2012	8
Solaben 2 & 3	Renewable (Solar)	70%⁽²⁾	Spain	Euro	2x50 MW	A/Baa1/A-	2012	13/13
Solacor 1 & 2	Renewable (Solar)	87%⁽³⁾	Spain	Euro	2x50 MW	A/Baa1/A-	2012	12/12
PS10 & PS20	Renewable (Solar)	100%	Spain	Euro	31 MW	A/Baa1/A-	2007&2009	8/10
Helioenergy 1 & 2	Renewable (Solar)	100%	Spain	Euro	2x50 MW	A/Baa1/A-	2011	12/12
Helios 1 & 2	Renewable (Solar)	100%	Spain	Euro	2x50 MW	A/Baa1/A-	2012	13/13
Solnova 1, 3 & 4	Renewable (Solar)	100%	Spain	Euro	3x50 MW	A/Baa1/A-	2010	11/11/11
Solaben 1 & 6	Renewable (Solar)	100%	Spain	Euro	2x50 MW	A/Baa1/A-	2013	14/14
Seville PV	Renewable (Solar)	80%⁽⁴⁾	Spain	Euro	1 MW	A/Baa1/A-	2006	11
Italy PV 1	Renewable (Solar)	100%	Italy	Euro	1.6 MW	BBB/Baa3/BBB	2010	7
Italy PV 2	Renewable (Solar)	100%	Italy	Euro	2.1 MW	BBB/Baa3/BBB	2011	7
Italy PV 3	Renewable (Solar)	100%	Italy	Euro	2.5 MW	BBB/Baa3/BBB	2012	7
Italy PV 4	Renewable (Solar)	100%	Italy	Euro	3.6 MW	BBB/Baa3/BBB	2011	7

UK Wind 1	Renewable (Wind)	100%	United Kingdom	GBP	25 MW	AA/Aa3/AA-	2012	8
UK Wind 2	Renewable (Wind)	100%	United Kingdom	GBP	8 MW	AA/Aa3/AA-	2003	3
Kaxu	Renewable (Solar)	51%⁽⁵⁾	South Africa	Rand	100 MW	BB-/Ba2/BB-⁽¹³⁾	2015	10
Calgary	Efficient natural gas &heat	100%	Canada	CAD	55 MWt	~60% AA- or higher⁽¹⁴⁾	2010	11
ACT	Efficient natural gas & heat	100%	Mexico	USD	300 MW	BBB/B3/B+	2013	9

Table of Contents

ATN⁽¹⁵⁾	Transmission line	100%	Peru	USD	381 miles	BBB-/Baa1/BBB	2011	16
ATS	Transmission line	100%	Peru	USD	569 miles	BBB-/Baa1/BBB	2014	19
ATN 2	Transmission line	100%	Peru	USD	81 miles	Not rated	2015	9
Quadra 1 & 2	Transmission line	100%	Chile	USD	49 miles/32 miles	Not rated	2014	10/10
Palmucho	Transmission line	100%	Chile	USD	6 miles	BBB/ -- /BBB+	2007	13
Chile TL3	Transmission line	100%	Chile	USD	50 miles	A/A2/A-	1993	N/A
Chile TL4	Transmission line	100%	Chile	USD	63 miles	Not rated	2016	47
Skikda	Water	34.20%⁽⁶⁾	Algeria	USD	3.5 M ft3/day	Not rated	2009	9
Honaine	Water	25.50%⁽⁷⁾	Algeria	USD	7 M ft3/day	Not rated	2012	13
Tenes	Water	51%⁽⁸⁾	Algeria	USD	7 M ft3/day	Not rated	2015	16

(1)	65% of the shares in Chile PV 1, Chile PV 2 and Chile PV 3 are indirectly held by financial partners through the renewable energy platform of the Company in Chile.

(2)	Itochu Corporation holds 30% of the shares in each of Solaben 2 and Solaben 3.

(3)	JGC holds 13% of the shares in each of Solacor 1 and Solacor 2.

(4)	Instituto para la Diversificación y Ahorro de la Energía (“Idae”) holds 20% of the shares in Seville PV.

(5)	Kaxu is owned by the Company (51%), Industrial Development Corporation of South Africa (“IDC”, 29%) and Kaxu Community Trust (20%).

(6)	Algerian Energy Company, SPA owns 49% of Skikda and Sacyr Agua, S.L. owns the remaining 16.8%.

(7)	Algerian Energy Company, SPA owns 49% of Honaine and Sacyr Agua, S.L. owns the remaining 25.5%.

(8)

Algerian Energy Company, SPA owns 49% of Tenes. The Company has an investment in Tenes through a secured loan to Befesa Agua Tenes (the holding company of Tenes) and the right to appoint a majority at the board of directors of the project company. Therefore, the Company controls Tenes since May 31, 2020, and fully consolidates the asset from that date.

(9)	Certain contracts denominated in U.S. dollars are payable in local currency.

(10)	Reflects the counterparty’s credit ratings issued by Standard & Poor’s Ratings Services, or S&P, Moody’s Investors Service Inc., or Moody’s, and Fitch Ratings Ltd, or Fitch. Not applicable (“N/A”) when the asset has no PPA.

(11)	Refers to the credit rating of two Community Choice Aggregators: Silicon Valley Clean Energy and Monterrey Bar Community Power, both with A Rating from S&P and Southern California Public Power Authority. The third off-taker is not rated.

(12)	Refers to the credit rating of Uruguay, as UTE (Administración Nacional de Usinas y Transmisoras Eléctricas) is unrated.

(13)	Refers to the credit rating of the Republic of South Africa. The off-taker is Eskom, which is a state-owned utility company in South Africa.

(14)	Refers to the credit rating of a diversified mix of 22 high credit quality clients (~60% AA- rating or higher, the rest is unrated).

(15)	Including ATN Expansion 1, 2 & 3.

(16)	Part of Vento II Portfolio.

(17)	9 MW of the 80 MW portfolio of Chile PMGD were already in operation as of September 30, 2024.

(18)	As of September 30, 2024.

(*)	Commercial Operation Date.

Additionally, Atlantica as of September 30, 2024, has the following assets under construction or ready to start construction in the short term:

Asset	Type	Location	Capacity (gross)⁽¹⁾	Expected COD	Expected Investment⁽²⁾ ($ million)	Off-taker
Coso Batteries 1	Battery Storage	California, US	100 MWh	2025	40-50	Investment grade utility
Coso Batteries 2	Battery Storage	California, US	80 MWh	2025	35-45	Investment grade utility
Chile PMGD	Solar PV	Chile	71 MW	2024-2025	33⁽⁴⁾	Regulated
Chile PV 3 Expansion	Battery storage	Chile	142 MWh	2024	14-15	Emoac
ATS Expansion 1	Transmission Line	Peru	n.a. (substation)	2025	31	Republic of Peru
Apulo 1⁽³⁾	Solar PV	Colombia	10 MW	2024	5.5	-
Caparacena	Solar PV	Spain	22 MW	2026	10-12	Electricity Distribution Company

(1)	Includes nominal capacity on a 100% basis, not considering Atlantica’s ownership.

(2)	Corresponds to the expected investment by Atlantica.

(3)	Atlantica owns 50% of the shares in Apulo 1.

(4)	Corresponds to Atlantica’s expected investment for the total 80 MW Chile PMGD portfolio.

Table of Contents

In October 2023, the Company entered into two 15-year tolling agreements (PPAs) with an investment grade utility for Coso Batteries 1 and Coso Batteries 2. Under each of the tolling agreements, Coso Batteries 1 and 2 will receive fixed monthly payments adjusted by the financial settlement of CAISO’s (California Independent System Operator) Day-Ahead market. In addition, the Company expects to obtain revenue from ancillary services in each of the assets.

Coso Batteries 1 is a standalone battery storage project of 100 MWh (4 hours) capacity, located inside Coso, its geothermal asset in California. Additionally, Coso Batteries 2 is a standalone battery storage project with 80 MWh (4 hours) capacity also located inside Coso. The investment is expected to be in the range of $40 million to $50 million for Coso Batteries 1, and in the range of $35 to $45 million for Coso Batteries 2. Both projects were fully developed in-house and are now under construction. Atlantica has closed a contract with Tesla for the procurement of the batteries. COD is expected in 2025 for both projects.

In November 2022, the Company closed the acquisition of a 49% interest, with joint control, in an 80 MW portfolio of solar PV projects in Chile, Chile PMGD, which is currently under construction. Atlantica´s economic rights are expected to be approximately 70%. Total investment in equity and preferred equity is expected to be approximately $33 million and COD is expected to be progressive in 2024 and 2025. Revenue for these assets is regulated under the Small Distributed Generation Means Regulation Regime (“PMGD”) for projects with a capacity equal or lower than 9 MW, which allows to sell electricity through a stabilized price. The Company is experiencing some delays and cost overruns in the construction in some assets, and as a result, recorded an impairment loss of $11.4 million in the consolidated condensed statement of profit or loss as of September 30, 2024 (Note 7).

In July 2023, as part of the New Transmission Plan Update in Peru, the Ministry of Energy and Mines published the Ministerial Resolution that enables to start construction of ATS Expansion 1 project, consisting in the reinforcement of two existing substations with new equipment. The expansion will be part of the existing concession contract, a 30-year contract with a fixed-price tariff base denominated in U.S. dollars adjusted annually in accordance with the U.S. Finished Goods Less Foods and Energy Index as published by the U.S. Department of Labor. Given that the concession ends in 2044, Atlantica will be compensated with a one-time payment for the remaining 9 years of concession. The expansion is expected to enter in operation in 2025 and the investment is expected to be approximately $31 million.

In April 2024, Chile PV 3 signed a 10-year PPA covering part of the production of the PV plant in operation and the 142 MWh battery storage expansion under construction.

In May 2024, Atlantica entered into a 10-year PPA for Caparacena, which is a 27.5 MWDC/22 MWAC project in Spain. Investment is expected to be between $10 million and $12 million, with COD expected in early 2026.

Chile PV 2 event of default

Due to low electricity prices in Chile, the project debt of Chile PV 2, where the Company owns a 35% equity interest, is under an event of default as of September 30, 2024. As a result, although Atlantica does not expect an acceleration of the debt to be declared by the credit entities, Chile PV 2, did not have a right to defer the settlement of the debt for at least twelve months as of December 31, 2023 and September 30, 2024, and therefore the project debt, which amounts to $23 million as of September 30, 2024 (Note 16), was classified as current in these Consolidated Condensed Interim Financial Statements in accordance with International Accounting Standards 1 (“IAS 1”), “Presentation of Financial Statements”. The Company is, together with the partner, in conversations with the banks, regarding a potential plan for the plant.

Table of Contents

Note 2. - Basis of preparation

The accompanying Consolidated Condensed Interim Financial Statements represent the consolidated results of the Company and its subsidiaries.

The Company’s annual consolidated financial statements as of December 31, 2023, were approved by the Board of Directors on February 29, 2024.

These Consolidated Condensed Interim Financial Statements are presented in accordance with International Accounting Standards (“IAS”) 34, “Interim Financial Reporting”. In accordance with IAS 34, interim financial information is prepared solely in order to update the most recent annual consolidated financial statements prepared by the Company, placing emphasis on new activities, occurrences and circumstances that have taken place during the nine-month period ended September 30, 2024, and not duplicating the information previously published in the annual consolidated financial statements for the year ended December 31, 2023. Therefore, the Consolidated Condensed Interim Financial Statements do not include all the information that would be required in a complete set of consolidated financial statements prepared in accordance with the IFRS-IASB (“International Financial Reporting Standards-International Accounting Standards Board”). In view of the above, for an adequate understanding of the information, these Consolidated Condensed Interim Financial Statements must be read together with Atlantica’s consolidated financial statements for the year ended December 31, 2023 included in the 2023 20-F.

In determining the information to be disclosed in the notes to the Consolidated Condensed Interim Financial Statements, Atlantica, in accordance with IAS 34, has taken into account its materiality in relation to the Consolidated Condensed Interim Financial Statements.

The Consolidated Condensed Interim Financial Statements are presented in U.S. dollars, which is the parent company’s functional and presentation currency. Amounts included in these Consolidated Condensed Interim Financial Statements are all expressed in thousands of U.S. dollars, unless otherwise indicated.

These Consolidated Condensed Interim Financial Statements were approved by the Board of Directors of the Company on November 14, 2024.

Application of new accounting standards

a)	Standards, interpretations and amendments effective from January 1, 2024, under IFRS-IASB, applied by the Company in the preparation of these Consolidated Condensed Interim Financial Statements:

The applications of these amendments have not had any impact on these Consolidated Condensed Interim Financial Statements.

b)	Standards, interpretations and amendments published by the IASB that will be effective for periods beginning on or after January 1, 2025:

The Company does not anticipate any significant impact on the Consolidated Condensed Interim Financial Statements derived from the application of the new standards and amendments that will be effective for annual periods beginning on or after January 1, 2025, although it is currently still in the process of evaluating such application.

The Company has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective.

Use of estimates

Some of the accounting policies applied require the application of significant judgment by management to select the appropriate assumptions to determine these estimates. These assumptions and estimates are based on the Company´s historical experience, advice from experienced consultants, forecasts and other circumstances and expectations as of the close of the financial period. The assessment is considered in relation to the global economic situation of the industries and regions where the Company operates, taking into account future development of its businesses. By their nature, these judgments are subject to an inherent degree of uncertainty; therefore, actual results could materially differ from the estimates and assumptions used. In such cases, the carrying values of assets and liabilities are adjusted.

Table of Contents

The most critical accounting policies, which require significant management estimates and judgment are as follows:

Estimates:

Impairment of contracted concessional, PP&E and other intangible assets.

Recoverability of deferred tax assets.

Fair value of derivative financial instruments.

Fair value of identifiable assets and liabilities arising from a business combination.

Judgement:

Assessment of assets agreements.

Assessment of control.

As of the date of preparation of these Consolidated Condensed Interim Financial Statements, no relevant changes in estimates made are anticipated and, therefore, no significant changes in the value of assets and liabilities recognized at September 30, 2024, are expected.

Although these estimates and assumptions are being made using all available facts and circumstances, it is possible that future events may require management to amend such estimates and assumptions in future periods. Changes in accounting estimates are recognized prospectively, in accordance with IAS 8, in the consolidated profit or loss statement of the period in which the change occurs.

Note 3. - Financial risk management

Atlantica’s activities are exposed to various financial risks: market risk (including currency risk and interest rate risk), credit risk and liquidity risk. Risk is managed by the Company’s Risk Management and Finance Departments, which are responsible for identifying and evaluating financial risks, quantifying them by project, region and company, in accordance with mandatory internal management rules. The internal management rules provide written policies for the management of overall risk, as well as for specific areas. The internal management policies of the Company also define the use of hedging instruments and derivatives and the investment of excess cash.

These Consolidated Condensed Interim Financial Statements do not include all financial risk management information and disclosures required for annual financial statements and should be read together with the information included in Note 3 to Atlantica’s annual consolidated financial statements as of December 31, 2023 included in the 2023 20-F.

Note 4. - Financial information by segment

Atlantica’s segment structure reflects how management currently makes financial decisions and allocates resources. Its operating and reportable segments are based on the following geographies where the assets are located: North America, South America and EMEA. In addition, based on the type of business, as of September 30, 2024, the Company had the following business sectors: Renewable energy, Efficient natural gas and heat, Transmission lines and Water.

Atlantica’s Chief Operating Decision Maker (CODM), which is the CEO, assesses the performance and assignment of resources according to the identified operating segments. The CODM considers the revenue as a measure of the business activity and the Adjusted EBITDA as a measure of the performance of each segment. Adjusted EBITDA is calculated as profit/(loss) for the period attributable to the parent company, after adding back loss/(profit) attributable to non-controlling interest, income tax expense, financial expense (net), depreciation, amortization and impairment charges of entities included in these Consolidated Condensed Interim Financial Statements and depreciation and amortization, financial expense and income tax expense of unconsolidated affiliates (pro rata of Atlantica’s equity ownership).

In order to assess performance of the business, the CODM receives reports of each reportable segment using revenue and Adjusted EBITDA. Net interest expense evolution is assessed on a consolidated basis. Financial expense and amortization are not taken into consideration by the CODM for the allocation of resources.

Table of Contents

In the nine-month period ended September 30, 2024, Atlantica had four customers with revenues representing more than 10% of total revenue, three in the renewable energy and one in the efficient natural gas and heat business sector. In the nine-month period ended September 30, 2023, Atlantica had three customers with revenues representing more than 10% of total revenue, in the renewable energy business sector.

a)	The following tables show Revenue and Adjusted EBITDA by operating segment and business sector for the nine-month periods ended September 30, 2024 and 2023:

	Revenue				Adjusted EBITDA
	For the nine-month period ended September 30,				For the nine-month period ended September 30,
	($ in thousands)
Geography	2024		2023		2024		2023
North America		372,143		338,745		279,708		260,684
South America		140,779		140,269		108,406		112,049
EMEA		405,822		379,569		269,427		254,548
Total		918,744		858,583		657,541		627,281

	Revenue				Adjusted EBITDA
	For the nine-month period ended September 30,				For the nine-month period ended September 30,
	($ in thousands)
Business sectors	2024		2023		2024		2023
Renewable energy		675,657		640,117		476,872		460,442
Efficient natural gas & heat		107,344		84,974		79,515		66,526
Transmission lines		92,732		91,825		74,652		73,256
Water		43,011		41,667		26,502		27,057
Total		918,744		858,583		657,541		627,281

The reconciliation of segment Adjusted EBITDA with the profit attributable to the Company is as follows:

	For the nine-month period ended September 30, ($ in thousands)
	2024		2023
Profit attributable to the Company		32,676		46,050
Profit attributable to non-controlling interest		6,482		2,846
Income tax		28,919		11,587
Financial expense, net		254,710		237,924
Depreciation, amortization, and impairment charges		325,578		310,502
Depreciation and amortization, financial expense and income tax expense of unconsolidated affiliates (pro rata of Atlantica’s equity ownership)		9,176		18,372
Total segment Adjusted EBITDA		657,541		627,281

b)	The assets and liabilities by operating segment and business sector as of September 30, 2024, and December 31, 2023 are as follows:

Table of Contents

Assets and liabilities by geography as of September 30, 2024:

	North America		South America		EMEA		Balance as of September 30, 2024
	($ in thousands)
Assets allocated
Contracted concessional, PP&E and other intangible assets		3,014,170		1,129,109		2,907,790		7,051,069
Investments carried under the equity method		162,142		5,154		44,756		212,052
Other current financial assets		122,562		32,941		46,490		201,993
Cash and cash equivalents (project companies)		177,961		98,883		138,092		414,936
Assets held for sale		2,000		39,242		-		41,242
Subtotal allocated		3,478,835		1,305,329		3,137,128		7,921,292
Unallocated assets
Other non-current assets								290,655
Other current assets (including cash and cash equivalents at holding company level)								378,487
Subtotal unallocated								669,142
Total assets								8,590,434

	North America		South America		EMEA		Balance as of September 30, 2024
	($ in thousands)
Liabilities allocated
Long-term and short-term project debt		1,602,854		743,538		1,901,951		4,248,343
Grants and other liabilities		908,210		34,333		186,698		1,129,241
Liabilities directly associated with the assets held for sale		-		53,723		-		53,723
Subtotal allocated		2,511,064		831,594		2,088,649		5,431,307
Unallocated liabilities
Long-term and short-term corporate debt								1,204,616
Other non-current liabilities								331,772
Other current liabilities								177,948
Subtotal unallocated								1,714,336
Total liabilities								7,145,643
Equity unallocated								1,444,791
Total liabilities and equity unallocated								3,159,127
Total liabilities and equity								8,590,434

Assets and liabilities by geography as of December 31, 2023:

	North America		South America		EMEA		Balance as of December 31, 2023
Assets allocated
Contracted concessional, PP&E and other intangible assets		3,063,019		1,184,599		2,956,649		7,204,267
Investments carried under the equity method		177,260		9,178		43,869		230,307
Other current financial assets		110,016		30,803		48,067		188,886
Cash and cash equivalents (project companies)		137,480		121,945		155,551		414,976
Assets held for sale		28,642		-		-		28,642
Subtotal allocated		3,516,417		1,346,525		3,204,136		8,067,078
Unallocated assets
Other non-current assets								297,577
Other current assets (including cash and cash equivalents at holding company level)								349,678
Subtotal unallocated								647,255
Total assets								8,714,333

Table of Contents

	North America		South America		EMEA		Balance as of December 31, 2023
Liabilities allocated
Long-term and short-term project debt		1,629,278		808,481		1,881,501		4,319,260
Grants and other liabilities		945,888		36,307		251,613		1,233,808
Subtotal allocated		2,575,166		844,788		2,133,114		5,553,068
Unallocated liabilities
Long-term and short-term corporate debt								1,084,838
Other non-current liabilities								301,245
Other current liabilities								186,373
Subtotal unallocated								1,572,456
Total liabilities								7,125,524
Equity unallocated								1,588,809
Total liabilities and equity unallocated								3,161,265
Total liabilities and equity								8,714,333

Assets and liabilities by business sector as of September 30, 2024:

	Renewable energy		Efficient natural gas & heat		Transmission lines		Water		Balance as of September 30, 2024
	($ in thousands)
Assets allocated
Contracted concessional assets, PP&E and other intangible assets		5,681,520		430,289		768,013		171,247		7,051,069
Investments carried under the equity method		171,246		-		-		40,806		212,052
Other current financial assets		5,033		121,997		31,064		43,899		201,993
Cash and cash equivalents (project companies)		304,718		31,022		65,650		13,546		414,936
Assets held for sale		41,242		-		-		-		41,242
Subtotal allocated		6,203,759		583,308		864,727		269,498		7,921,292
Unallocated assets
Other non-current assets										290,655
Other current assets (including cash and cash equivalents at holding company level)										378,487
Subtotal unallocated										669,142
Total assets										8,590,434

	Renewable energy		Efficient natural gas & Heat		Transmission lines		Water		Balance as of September 30, 2024
Liabilities allocated
Long-term and short-term project debt		3,250,365		374,393		555,282		68,303		4,248,343
Grants and other liabilities		1,080,095		33,632		12,925		2,589		1,129,241
Liabilities directly associated with the assets held for sale		53,723		-		-		-		53,723
Subtotal allocated		4,384,183		408,025		568,207		70,892		5,431,307
Unallocated liabilities
Long-term and short-term corporate debt										1,204,616
Other non-current liabilities										331,772
Other current liabilities										177,948
Subtotal unallocated										1,714,336
Total liabilities										7,145,643
Equity unallocated										1,444,791
Total liabilities and equity unallocated										3,159,127
Total liabilities and equity										8,590,434

Table of Contents

Assets and liabilities by business sector as of December 31, 2023:

	Renewable energy		Efficient natural gas & heat		Transmission lines		Water		Balance as of December 31, 2023
Assets allocated
Contracted concessional, PP&E and other intangible assets		5,798,818		460,766		777,360		167,323		7,204,267
Investments carried under the equity method		189,672		-		-		40,635		230,307
Other current financial assets		10,866		103,907		30,746		43,367		188,886
Cash and cash equivalents (project companies)		299,987		35,098		58,004		21,887		414,976
Assets held for sale		-		28,642		-		-		28,642
Subtotal allocated		6,299,343		628,413		866,110		273,212		8,067,078
Unallocated assets
Other non-current assets										297,577
Other current assets (including cash and cash equivalents at holding company level)										349,678
Subtotal unallocated										647,255
Total assets										8,714,333

	Renewable energy		Efficient natural gas & heat		Transmission lines		Water		Balance as of December 31, 2023
Liabilities allocated
Long-term and short-term project debt		3,280,618		401,460		560,906		76,276		4,319,260
Grants and other liabilities		1,185,487		32,916		12,884		2,521		1,233,808
Subtotal allocated		4,466,105		434,376		573,790		78,797		5,553,068
Unallocated liabilities
Long-term and short-term corporate debt										1,084,838
Other non-current liabilities										301,245
Other current liabilities										186,373
Subtotal unallocated										1,572,456
Total liabilities										7,125,524
Equity unallocated										1,588,809
Total liabilities and equity unallocated										3,161,265
Total liabilities and equity										8,714,333

c)	The amount of depreciation, amortization and impairment charges recognized for the nine-month periods ended September 30, 2024 and 2023 are as follows:

	For the nine-month period ended September 30,
Depreciation, amortization and impairment by geography	2024			2023
	($ in thousands)
North America		(100,022	)		(103,001	)
South America		(60,449	)		(46,278	)
EMEA		(165,107	)		(161,223	)
Total		(325,578	)		(310,502	)

Table of Contents

	For the nine-month period ended September 30,
Depreciation, amortization and impairment by business sectors	2024			2023
	($ in thousands)
Renewable energy		(306,923	)		(286,611	)
Efficient natural gas & heat		3,759			(2,196	)
Transmission lines		(23,107	)		(22,033	)
Water		693			338
Total		(325,578	)		(310,502	)

Note 5. – Business combinations

For the nine-month period ended September 30, 2024

In March 2024, the Company completed the acquisition of a 100% equity interest stake in two wind assets, UK Wind 1 and UK Wind 2, with a combined installed capacity of 32 MW in Scotland, United Kingdom. This acquisition has been accounted for in these Consolidated Condensed Interim Financial Statements in accordance with IFRS 3, Business Combinations and is included within the Renewable energy sector and the EMEA geography.

The fair value of assets and liabilities consolidated at the effective acquisition date is shown in the following table:

	Business combinations for the nine-month period ended September 30, 2024
Property, plant and equipment under IAS 16		19,724
Intangible assets under IAS 38		45,678
Intangible assets under IFRS 16		6,525
Cash & cash equivalents		4,199
Other current assets		4,829
Deferred tax liabilities		(3,969	)
Lease liabilities		(6,525	)
Other current and non-current liabilities		(4,781	)
Total net assets acquired at fair value		65,680
Asset acquisition – purchase price		(65,680	)
Net result of business combinations		-

The purchase price equals the fair value of the net assets acquired.

The allocation of the purchase price is provisional as of September 30, 2024, and amounts indicated above may be adjusted during the measurement period to reflect new information obtained about facts and circumstances that existed at the acquisition date that, if known, would have affected the amounts recognized as of September 30, 2024. The measurement period will not exceed one year from the acquisition date.

The amount of revenue contributed by the acquisitions during the nine-month period September 30, 2024 to the Consolidated Condensed Interim Financial Statements of the Company is $5.0 million, and the amount of loss after tax is $0.1 million. Had the acquisitions been consolidated from January 1, 2024, the consolidated statement of comprehensive income would have included additional revenue of $2.8 million and additional loss after tax of $0.3 million.

Table of Contents

For the year ended December 31, 2023

On March 1, 2023, the Company completed the process of transitioning the O&M services for the assets in Spain where Abengoa was still the supplier to an Atlantica’ subsidiary. This acquisition had been accounted for in these Consolidated Financial Statements in accordance with IFRS 3, Business Combinations. The O&M services are included within the Renewable energy sector and the EMEA geography.

The fair value of assets and liabilities consolidated at the effective acquisition date is shown in the following table:

	Business combinations for the year ended December 31, 2023
Property, plant and equipment under IAS 16		1,565
Intangible assets under IAS 38		4,487
Inventories		1,646
Other current and non-current liabilities		(5,917	)
Total net assets acquired at fair value		1,781
Asset acquisition – purchase price		(1,781	)
Net result of business combinations		-

The purchase price equals the fair value of the net assets acquired.

The amount of revenue contributed by the acquisitions performed during 2023 to the Consolidated Financial Statements of the Company was nil, and the amount of loss after tax was $0.8 million. Had the acquisitions been consolidated from January 1, 2023, the consolidated statement of comprehensive income would not have included any additional revenue and additional loss after tax of $0.2 million.

In March 2024, the provisional period for the purchase price allocation closed, and did not result in significant adjustments to the initial amounts recognized.

Note 6. - Contracted concessional, PP&E and other intangible assets

The Company has assets recorded as contracted concessional assets in accordance with IFRIC 12, property plant and equipment in accordance with IAS 16 and right of use assets under IFRS 16 or intangible assets under IAS 38.

The detail of assets included in the heading ‘Contracted concessional, PP&E and other intangible assets’ as of September 30, 2024, and December 31, 2023, is as follows:

	Financial assets under IFRIC 12			Financial assets under IFRS 16 (Lessor)		Intangible assets under IFRIC 12			Right of use assets under IFRS 16 (Lessee) and intangible assets under IAS 38			Property, plant and equipment under IAS 16
	Financial assets under IFRIC 12			Financial assets under IFRS 16 (Lessor)		Intangible assets under IFRIC 12						Land		Technical installations			Total assets
Cost		744,964			2,577		9,039,873			220,349			143,929		1,030,549			11,182,241
Amortization and impairment		(50,011	)		-		(3,793,192	)		(48,674	)		-		(239,295	)		(4,131,172	)
Total as of September 30, 2024		694,953			2,577		5,246,681			171,675			143,929		791,254			7,051,069

Table of Contents

	Financial assets under IFRIC 12			Financial assets under IFRS 16 (Lessor)		Intangible assets under IFRIC 12			Right of use assets under IFRS 16 (Lessee) and intangible assets under IAS 38			Property, plant and equipment under IAS 16
	Financial assets under IFRIC 12			Financial assets under IFRS 16 (Lessor)		Intangible assets under IFRIC 12						Land		Technical installations			Total assets
Cost		785,179			2,655		8,957,090			150,947			139,344		993,992			11,029,207
Amortization and impairment		(56,378	)		-		(3,479,464	)		(38,813	)		-		(250,285	)		(3,824,940	)
Total as of December 31, 2023		728,801			2,655		5,477,626			112,134			139,344		743,707			7,204,267

No losses from impairment of contracted concessional, PP&E and other intangible assets, excluding the change in the provision for expected credit losses under IFRS 9, Financial instruments, were recorded during the nine-month period ended September 30, 2024 and 2023. The impairment provision based on the expected credit losses on contracted concessional financial assets decreased by $6 million in the nine-month period ended September 30, 2024 (decrease of $1 million in the nine-month period ended September 30, 2023), primarily in ACT.

Note 7. - Investments carried under the equity method

The table below shows the breakdown of the investments held in associates and joint ventures as of September 30, 2024, and December 31, 2023:

	Balance as of September 30, 2024		Balance as of December 31, 2023
	($ in thousands)
2007 Vento II, LLC		162,141		175,351
Myah Bahr Honaine, S.P.A.		40,806		40,635
Akuo Atlantica PMGD Holding S.P.A.		-		4,409
Colombian portfolio of renewable energy entities		3,258		4,754
Windlectric Inc		-		1,910
Ecorer S.A.C		1,897		-
SailH2 Ingeniería, S.L.		1,390		653
Pectonex, R.F. Proprietary Limited		1,278		1,337
Evacuación Valdecaballeros, S.L.		831		807
Fontanil Solar, S.L.U.		229		229
Murum Solar, S.L.U.		222		222
Total		212,052		230,307

None of the entities referred to above is a listed company.

2007 Vento II, LLC, is the holding company of a 596 MW portfolio of wind assets (“Vento II”) in the U.S., 49% owned by Atlantica since June 16, 2021, and accounted for under the equity method in these Consolidated Condensed Interim Financial Statements.

Myah Bahr Honaine, S.P.A., the project entity, is 51% owned by Geida Tlemcen, S.L., which is accounted for using the equity method in these Consolidated Condensed Interim Financial Statements. Geida Tlemcen, S.L. is 50% owned by Atlantica.

Table of Contents

Akuo Atlantica PMGD Holding S.P.A.(“Akuo”) is the holding company of an 80 MW portfolio of solar PV assets in Chile, which is currently under construction, 49% owned by Atlantica, with joint control since November 2022 and accounted for under the equity method in these Consolidated Condensed Interim Financial Statements.Considering the delays in the execution of the project and construction costs overruns, the Company has identified an impairment triggering event of the investment made by the Company both through equity and preferred equity (loan). As a result, an impairment test has been performed which resulted in the recording of an impairment loss of $11.4 million as of September 30, 2024. The impairment has been recorded within the line “Depreciation, amortization and impairment charges” of the consolidated condensed statement of profit or loss, decreasing the amount of the investment carried under the equity method and the non-current receivables with Akuo (Note 12), for an amount of $5.3 million and $6.1 million, respectively.

The Colombian portfolio of renewable energy entities includes the following entities: Atlantica – HIC Renovables S.A.S., SJ Renovables Sun 1 S.A.S. E.S, AC Renovables Sol 1 S.A.S. E.S, SJ Renovables Wind 1 S.A.S. E., PA Renovables Sol 1 S.A.S. E.S and Atlantica Hidro Colombia S.A.S. Atlantica holds 50% of the shares and has joint control over these entities in accordance with IFRS 11, Joint arrangements.

Windlectric Inc., the project entity, is 100% owned by Amherst Island Partnership, itself 30% owned by Atlantica Yield Energy Solutions Canada Inc. (“AYES Canada”). As of September 30, 2024, AYES Canada is classified as held for sale in these Consolidated Condensed Financial Statements (Note 8).

Ecorer S.A.C. is the holding company of a portfolio of renewable energy projects in Peru, which are currently under development, 50% owned by Atlantica with joint control. The increase in the investment carried under the equity method results from the conversion to equity interests of a portion of the shareholder loan granted by Atlantica in September 2024 (Note 12).

The decrease in investments carried under the equity method as of September 30, 2024 is primarily due to the impairment of the investment in Akuo indicated above and to the decrease in the investment in Vento II as a result of the distributions received from this asset by the Company for $17.9 million, partially offset by the share of profit in Vento II for the nine-month period ended September 30, 2024 for $4.7 million.

Note 8. - Assets held for sale

Monterrey

In 2023, Atlantica´s partner in Monterrey initiated a process to sell its 70% stake in the asset and, as part of it, Atlantica intended to sell its interest as well under the same terms.

In October 30, 2023, the conditions to classify the loan granted by Atlantica to Arroyo II and the investment in Pemcorp as held for sale in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations were met. As a consequence, the book value of the equity investment held by Atlantica in Pemcorp and the loan granted by Atlantica to Arroyo II, were classified as held for sale since that date for an amount of US$ 28.7 million as of December 31, 2023.

The transaction was subject to certain conditions precedent and final transaction closing occurred in April 2024. The difference between the book value of the asset held for sale at closing date, and the fair value of the consideration received, which amounts to $12.0 million, has been registered as an operating income in these Consolidated Condensed Interim Financial Statements.

Atlantica received $41.2 million of proceeds net of transaction costs in 2024 and there is an earn-out mechanism that could result in additional proceeds for Atlantica of up to approximately $7 million between 2026 and 2028.

Chile PV 1

On August 29, 2024, Atlantica and its financial partners, through the renewable platform in Chile, signed with the lenders of Chile PV 1, a binding sale´s agreement that enables the lenders to process the sale of the plant under certain conditions. At that date, the conditions to classify Chile PV 1 as a disposal group held for sale in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations were met. As a consequence, assets and liabilities of Chile PV 1 are reclassified as held for sale at their carrying amount in these Consolidated Condensed Interim Financial Statements as of September 30, 2024. Simultaneously, a restructuring of the financing agreement has been signed, which eliminates any debt service payment requirement during the sale´s process period and therefore waives the event of default of the debt for Chile PV 1 (Note 16).

Table of Contents

AYES Canada

On September 9, 2024, the Company signed an agreement with Algonquin to sell 100% of its shares in AYES Canada, the holding company of Windlectric Inc. (Note 7), for net proceeds of $2.0 million. As a result, the conditions to classify AYES Canada as held for sale were met from that date. The receivable for the net proceeds is classified as held for sale in these Consolidated Condensed Interim Financial Statements as of September 30, 2024. The Company recorded a loss of $0.2 million as an operating expense in these Consolidated Condensed Interim Financial Statements accounting for the difference between the net proceeds amount and the carrying amount of the assets contributed by AYES Canada at the date the sale´s agreement was signed. Closing occurred and the Company received net proceeds in October 2024.

The amounts of Assets held for sale as of September 30, 2024 are as follows:

	Chile PV 1		AYES Canada		Total
			($ in thousands)
Property, plant and equipment under IAS 16		37,437				37,437
Intangible assets under IAS 38		344				344
Intangible assets under IFRS 16		129				129
Cash & cash equivalents		339				339
Other current assets		993		2,000		2,993
Total assets classified held for sale		39,242		2,000		41,242

Project debt		49,433				49,433
Lease liabilities		125				125
Other current and non-current liabilities		4,165				4,165
Total liabilities directly associated with the assets held for sale		53,723		-		53,723

Note 9. - Financial assets

The detail of non-current and current financial assets as of September 30, 2024, and December 31, 2023, is as follows:

	Balance as of September 30, 2024		Balance as of December 31, 2023
	($ in thousands)
Fair Value through OCI (Investment in Ten West Link)		11,719		11,719
Derivative assets (Note 10)		40,052		56,708
Other receivable accounts at amortized cost		63,287		68,155
Total non-current financial assets		115,058		136,582
Contracted concessional financial assets		196,419		177,407
Derivative assets (Note 10)		2,800		4,989
Other receivable accounts at amortized cost		2,774		6,490
Total current financial assets		201,993		188,886

Investment in Ten West Link is a 12.5% interest in a 114-mile transmission line in the U.S., which reached COD in June 2024.

Table of Contents

Note 10. - Derivative financial instruments

The breakdowns of the fair value amount of the derivative financial instruments as of September 30, 2024, and December 31, 2023, are as follows:

	Balance as of September 30, 2024				Balance as of December 31, 2023
	($ in thousands)
	Assets		Liabilities		Assets		Liabilities
Interest rate cash flow hedge		41,857		32,697		60,102		29,163
Foreign exchange derivatives instruments		995		-		1,595		-
Notes conversion option (Note 15)		-		-		-		794
Total		42,852		32,697		61,697		29,957

The derivatives are primarily interest rate cash flow hedges, which are classified as non-current assets or non-current liabilities, as they hedge long-term financing agreements.

The net amount of the fair value of interest rate derivatives designated as cash flow hedges transferred to the consolidated condensed profit or loss statement is a profit of $19.6 million for the nine-month period ended September 30, 2024 (profit of $18.0 million for the nine-month period ended September 30, 2023).

The after-tax results accumulated in equity in connection with derivatives designated as cash flow hedges as of September 30, 2024, and December 31, 2023, amount to a profit of $299.8 million and $308.0 million, respectively.

Additionally, the Company has currency options with leading international financial institutions, which guarantee minimum Euro-U.S. dollar and British pounds-U.S. dollar exchange rates. The strategy of the Company is to hedge the exchange rate for the net distributions from its European assets after deducting euro-denominated interest payments and euro and British pounds-denominated general and administrative expenses. Through currency options, the strategy of the Company is to hedge 100% of its euro and British pounds-denominated net exposure for the next 12 months and 75% of its euro and British pounds-denominated net exposure for the following 12 months, on a rolling basis. Change in fair value of these foreign exchange derivatives instruments are directly recorded in the consolidated profit or loss statement.

Finally, the conversion option of the Green Exchangeable Notes issued in July 2020 (Note 15) is recorded as a derivative with a fair value (liability) of $ nil as of September 30, 2024 ($0.8 million as of December 31, 2023).

Note 11. - Fair value of financial instruments

Financial instruments measured at fair value are classified based on the nature of the inputs used for the calculation of fair value:

Level 1: Inputs are quoted prices in active markets for identical assets or liabilities.

Level 2: Fair value is measured based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3: Fair value is measured based on unobservable inputs for the asset or liability.

As of September 30, 2024, all the financial instruments measured at fair value correspond to derivatives and have been classified as Level 2, except for the investments held in Ten West Link, which has been classified as Level 3.

Table of Contents

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		-		-		-		-
Amherst Island Partnership	2023		5,817		-		-		-
Arroyo Netherland II B.V (Note 8)	2024		-		-		-		-
Arroyo Netherland II B.V (Note 8)	2023		18,448		-		-		-
Akuo Atlantica PMGD Holding S.P.A	2024		137		12,876		-		-
Akuo Atlantica PMGD Holding S.P.A	2023		-		16,677		-		-
Colombian assets portfolio	2024		463		16,028		59		-
Colombian assets portfolio	2023		-		13,578		34		-
Ecorer S.A.C.	2024		-		1,357		-		-
Ecorer S.A.C.	2023		-		3,043		-		-
Other	2024		14		183		-		-
Other	2023		21		148		-		-
Non controlling interest:
Non controlling interest:
Algonquin Power Co.	2024		104		-		-		-
Algonquin Power Co.	2023		-		-		5,683		-
JGC Corporation	2024		-		-		-		3,954
JGC Corporation	2023		-		-		-		4,612
Algerian Energy Company, SPA	2024		-		-		22		-
Algerian Energy Company, SPA	2023		-

Filing Compare · Atlantica Sustainable Infrastructure plc