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Analysis of deferred tax assets and liabilities

Nature of the business

Note 1.- Nature of the business

Atlantica Yield plc (“Atlantica” or the “Company”) was incorporated in England and Wales as a private limited company on December 17, 2013 under the name Abengoa Yield Limited. On March 19, 2014, the Company was re-registered as a public limited company, under the name Abengoa Yield plc. On May 13, 2016, the change of the Company´s registered name to Atlantica Yield plc was filed with the Registrar of Companies in the United Kingdom.

Atlantica is a sustainable total return infrastructure company that owns, manages and acquires renewable energy, efficient natural gas, electric transmission lines and water assets focused on North America (the United States, Mexico and Canada), South America (Peru, Chile and Uruguay) and EMEA (Spain, Algeria and South Africa).

Atlantica’s shares began trading on the NASDAQ Global Select Market under the symbol “ABY” on June 13, 2014. The symbol changed to “AY” on November 11, 2017.

On March 9, 2018 and on November 27, 2018, Algonquin Power & Utilities (“Algonquin”) announced that it completed the acquisition from Abengoa S.A, (“Abengoa”) of a 25% and 16.47% equity interest in Atlantica, respectively. Algonquin is the largest shareholder of the Company and currently owns a 44.2% stake in Atlantica. Algonquin’s shareholding in Atlantica may be increased up to a 48.5% without any change in corporate governance. Algonquin’s voting rights and rights to appoint directors are limited to a 41.5% and the additional 7% would vote replicating non-Algonquin’s shareholders vote. Algonquin does not consolidate the Company in its consolidated financial statements.

During 2018, the Company closed the following acquisitions: a 100% stake in a 4 MW hydroelectric power plant in Peru (“Mini-Hydro”), a 5% stake in a natural gas transportation in Mexico (Pemex Transportation System or “PTS”), a 100% stake in a 50 MW on-shore wind plant in Uruguay (“Melowind”), a 66kV transmission line in operation in Chile (“Chile TL3”) and

a transmission line in Peru, which is an expansion of ATN (“ATN Expansion 1”).

In January 2019, the Company entered into an agreement with Abengoa under the Abengoa ROFO Agreement for the acquisition of Befesa Agua Tenes, a holding company which owns a 51% stake in Tenes, a water desalination plant in Algeria, similar in several aspects to Skikda and Honaine plants. The price agreed for the equity value was $24.5 million, of which $19.9 million were paid in January 2019 as an advanced payment. Closing of the acquisition was subject to conditions precedent, including approval by the Algerian administration. The conditions precedent set forth in the share purchase agreement were not fulfilled as of September 30, 2019. Therefore, in accordance with the terms of the share purchase agreement the advanced payment has been converted into a secured loan to be reimbursed by Befesa Agua Tenes, together with 12% per annum interest, through a full cash-sweep of all the dividends generated to be received from the asset. These dividends would be guaranteed by a right of usufruct over the economic rights and certain political rights and a pledge over the shares of Befesa Agua Tenes, granted by Abengoa to the Company. The share purchase agreement requires that the repayment occurs no later than September 30, 2031. In October 2019 the Company received a first payment of $7.8 million through the cash sweep mechanism.

On April 15, 2019, the Company entered into an agreement to acquire a 30% stake in Monterrey, a 142 MW gas-fired engine facility including 130 MW installed capacity and 12 MW battery capacity (“Monterrey”). The acquisition was closed on August 2, 2019, after conditions precedent were fulfilled, and the Company paid $42 million for the total investment. The asset, located in Mexico, has been in operation since 2018 and represents the first investment in electric batteries for the Company. It has a U.S. dollar-denominated 20-year PPA with two international large corporations engaged in the car manufacturing industry as well as a 20-year contract for the natural gas transportation with a U.S. energy company. The PPA also includes price escalation factors. The asset is the sole electricity supplier for the off-takers, it has no commodity risk and also has the possibility to sell excess energy to the North-East region of the country. The Company also entered into a ROFO agreement with the seller of the shares for the remaining 70% stake in the asset.

On May 9, 2019, the Company entered into a partnership agreement with Algonquin, investing $4.9 million in the equity of a wind farm, Amherst Island, with a 75 MW installed capacity, owned and operated by Algonquin in Canada.

On August 2, 2019, the Company closed the acquisition of ASI Operations LLC (“ASI Ops”), the company that performs the operation and maintenance services to Solana and Mojave plants. The consideration paid was $6 million.

On October 22, 2019, the Company closed the acquisition of ATN Expansion 2 from Enel Green Power Perú, for a total equity investment of approximately $20 million, controlling the asset from this date. Transfer of the concession agreement is pending authorization from the Ministry of Energy in Peru. If this authorization were not to be obtained within an eight-month period from the acquisition date, the transaction would be reversed with no penalties to Atlantica. Enel Green Power Perú issued a bank guarantee to face this potential repayment obligation to Atlantica.

The following table provides an overview of the main concessional assets the Company owned or had an interest in as of December 31, 2019:

Assets	Type	Ownership	Location	Currency⁽⁸⁾	Capacity (Gross)	Counterparty Credit Ratings⁽⁹⁾	COD*	Contract Years Left⁽¹³⁾

Solana	Renewable (Solar)	100% Class B⁽¹⁾	Arizona (USA)	USD	280 MW	A-/A2/A-	2013	24

Mojave	Renewable (Solar)	100%	California (USA)	USD	280 MW	D/WR/WD	2014	20

Solaben 2 & 3	Renewable (Solar)	70%⁽²⁾	Spain	Euro	2x50 MW	A/Baa1/A-	2012	18/17

Solacor 1 & 2	Renewable (Solar)	87%⁽³⁾	Spain	Euro	2x50 MW	A/Baa1/A-	2012	17/17

PS10/PS20	Renewable (Solar)	100%	Spain	Euro	31 MW	A/Baa1/A-	2007& 2009	12/14

Helioenergy 1 & 2	Renewable (Solar)	100%	Spain	Euro	2x50 MW	A/Baa1/A-	2011	17/17

Helios 1 & 2	Renewable (Solar)	100%	Spain	Euro	2x50 MW	A/Baa1/A-	2012	18/18

Solnova 1, 3 & 4	Renewable (Solar)	100%	Spain	Euro	3x50 MW	A/Baa1/A-	2010	15/15/16

Solaben 1 & 6	Renewable (Solar)	100%	Spain	Euro	2x50 MW	A/Baa1/A-	2013	19/19

Kaxu	Renewable (Solar)	51%⁽⁴⁾	South Africa	Rand	100 MW	BB/Baa3/ BB+⁽¹⁰⁾	2015	15

Palmatir	Renewable (Wind)	100%	Uruguay	USD	50 MW	BBB/Baa2/BBB-⁽¹¹⁾	2014	14

Cadonal	Renewable (Wind)	100%	Uruguay	USD	50 MW	BBB/Baa2/BBB-⁽¹¹⁾	2014	15

ACT	Efficient natural gas	100%	Mexico	USD	300 MW	BBB+/ Baa3/BB+	2013	13


Monterrey	Efficient natural gas	30%	Mexico	USD	142 MW	Not rated	2018	19

ATN ⁽¹²⁾	Transmission line	100%	Peru	USD	379 miles	BBB+/A3/BBB+	2011	21

ATS	Transmission line	100%	Peru	USD	569 miles	BBB+/A3/BBB+	2014	24

ATN 2	Transmission line	100%	Peru	USD	81 miles	Not rated	2015	13

Quadra 1	Transmission line	100%	Chile	USD	49 miles	Not rated	2014	15

Quadra 2	Transmission line	100%	Chile	USD	32 miles	Not rated	2014	15

Palmucho	Transmission line	100%	Chile	USD	6 miles	BBB+/Baa2/ BBB+	2007	18

Chile TL3	Transmission line	100%	Chile	USD	50 miles	A+/A1/A	1993	Regulated

Skikda	Water	34.2%(5)	Algeria	USD	3.5 M ft3/day	Not rated	2009	14

Honaine	Water	25.5%(6)	Algeria	USD	7 M ft3/ day	Not rated	2012	18

Seville PV	Renewable (Solar)	80%(7)	Spain	Euro	1 MW	A/Baa1/A-	2006	16

Melowind	Renewable (Wind)	100%	Uruguay	USD	50MW	BBB/Baa2/BBB-	2015	16

Mini-Hydro	Renewable (Hydraulic)	100%	Peru	USD	4 MW	BBB+/A3/BBB+	2012	13

(1)	On September 30, 2013, Liberty Interactive Corporation agreed to invest $300 million in Class A shares of ASO Holdings Company LLC, the holding company of Solana, in exchange for a share of the dividends and the taxable losses generated by Solana.

(2)	Itochu Corporation, a Japanese trading company, holds 30% of the shares in each of Solaben 2 and Solaben 3.

(3)	JGC, a Japanese engineering company, holds 13% of the shares in each of Solacor 1 and Solacor 2.

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

(5)	Algerian Energy Company, SPA owns 49% of Skikda and Sacyr Agua, S.L. owns the remaining 16.83%.

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

(7)	Instituto para la Diversificación y Ahorro de la Energía (“Idae”), a Spanish state owned company, holds 20% of the shares in Seville PV.

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

(9)	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.

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

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

(12)	Including the acquisition of ATN Expansion 1 & 2.

(13)	As of December 31, 2019.

(*)	Commercial Operation Date.

The project financing arrangement of Kaxu contains cross-default provisions related to Abengoa such that debt defaults by Abengoa, subject to certain threshold amounts and/or a restructuring process, could trigger a default under the Kaxu project financing arrangement. In March 2017, Atlantica obtained a waiver in its Kaxu project financing arrangement which waives any potential cross-defaults with Abengoa up to that date, but it does not cover potential future cross-default events. As of December 31, 2019, the Company is not aware of the existence of any cross-default events with Abengoa.

These consolidated financial statements were approved by the Board of Directors of the Company on February 26, 2020.

Contracted concessional assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movements of Contracted Concessional Assets [Abstract]
Contracted concessional financial assets	$ 1,190,527	$ 1,161,441
Total, beginning of period	8,549,181
Total, end of period	8,161,129	8,549,181
Repayment of debt	603,070	385,964	$ 613,242
Cost [Member]
Movements of Contracted Concessional Assets [Abstract]
Total, beginning of period	10,475,828	10,633,769
Additions	1,431	10,463
Application of IFRS 16 - Leases effective January 1, 2018		62,982
Subtractions	(23,186)	(92,814)
Change in the scope of the consolidated financial statements (Note 5)	28,738	170,040
Translation differences	(81,941)	(280,680)
Reclassification and other movements	(16,273)	(27,932)
Total, end of period	10,384,597	10,475,828	10,633,769
Accumulated Amortization [Member]
Movements of Contracted Concessional Assets [Abstract]
Total, beginning of period	(1,926,647)	(1,549,499)
Application of IFRS9 - Expected Credit Losses effective January 1, 2018			(53,048)
Additions	(310,755)	(362,697)
Change in the scope of the consolidated financial statements (Note 5)		(14,131)
Translation differences	15,778	52,728
Reclassification and other movements	(1,844)
Total, end of period	(2,223,468)	(1,926,647)	$ (1,549,499)
Contracted Concessional Assets [Member]
Movements of Contracted Concessional Assets [Abstract]
Contracted concessional financial assets	819,146	843,291
Right-of-use assets	54,000	57,500
Impairment loss on contracted concessional financial assets		$ 0
Mojave [Member]
Movements of Contracted Concessional Assets [Abstract]
Assumed percentage decrease in generation		5.00%
Assumed percentage increase in discount rate		0.50%
Percentage recoverable amount exceeds carrying amount		10.00%
Mojave [Member] \| Bottom of Range [Member]
Movements of Contracted Concessional Assets [Abstract]
Discount rate		4.60%
Mojave [Member] \| Top of Range [Member]
Movements of Contracted Concessional Assets [Abstract]
Discount rate		5.80%
Solana [Member]
Movements of Contracted Concessional Assets [Abstract]
Repayment of debt	$ 22,200	$ 61,500
Impairment loss on contracted concessional financial assets		42,721
Recoverable amount of impairment loss		$ 1,141,209
Assumed percentage decrease in generation		5.00%
Additional impairment loss that could be recognised due to assumed percentage decrease in generation		$ 72,000
Assumed percentage increase in discount rate		0.50%
Additional impairment loss that could be recognised due to assumed increase in discount rate		$ 50,000
Solana [Member] \| Bottom of Range [Member]
Movements of Contracted Concessional Assets [Abstract]
Discount rate		5.00%
Solana [Member] \| Top of Range [Member]
Movements of Contracted Concessional Assets [Abstract]
Discount rate		5.80%

Corporate debt, Details of corporate debt (Details) € in Millions			1 Months Ended	12 Months Ended
	Oct. 08, 2019 USD ($)	Feb. 10, 2017 EUR (€) Swap	Apr. 30, 2019 EUR (€)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 13, 2019	Aug. 02, 2019 USD ($)	Jan. 31, 2019 USD ($)	May 10, 2018 USD ($)	Jul. 20, 2017 USD ($)	Jul. 20, 2017 EUR (€)	Nov. 17, 2014 USD ($)
Corporate debt [Abstract]
Amount drawn				$ 358,826,000	$ 123,767,000	$ 296,398,000
2019 Notes [Member]
Corporate debt [Abstract]
Principal amount													$ 255,000,000
Fixed interest rate													7.00%
Eurodollar Rate Loans [Member] \| LIBOR [Member] \| Bottom of Range [Member]
Corporate debt [Abstract]
Adjustment to interest rate										1.60%
Eurodollar Rate Loans [Member] \| LIBOR [Member] \| Top of Range [Member]
Corporate debt [Abstract]
Adjustment to interest rate										2.25%
Base Rate Loans [Member]
Corporate debt [Abstract]
Adjustment to interest rate										1.00%
Base Rate Loans [Member] \| Bottom of Range [Member]
Corporate debt [Abstract]
Adjustment to interest rate										0.60%
Base Rate Loans [Member] \| Top of Range [Member]
Corporate debt [Abstract]
Adjustment to interest rate										1.00%
Base Rate Loans [Member] \| Federal Funds Rate [Member]
Corporate debt [Abstract]
Adjustment to interest rate										0.50%
Note Issuance Facility [Member]
Corporate debt [Abstract]
Principal amount \| €		€ 275
Fixed interest rate		5.50%
Number of interest rate swaps \| Swap		2
Note Issuance Facility [Member] \| EURIBOR [Member]
Corporate debt [Abstract]
Adjustment to interest rate		4.90%
Series 1 Notes [Member]
Corporate debt [Abstract]
Maturity date				2022
Series 2 Notes [Member]
Corporate debt [Abstract]
Maturity date				2023
Series 3 Notes [Member]
Corporate debt [Abstract]
Maturity date				2024
2017 Credit Facility [Member]
Corporate debt [Abstract]
Principal amount											$ 11,200,000
Maturity date				December 13, 2021
Amount drawn				$ 10,100,000
2017 Credit Facility [Member] \| Top of Range [Member]
Corporate debt [Abstract]
Principal amount \| €												€ 10
2017 Credit Facility [Member] \| EURIBOR [Member]
Corporate debt [Abstract]
Adjustment to interest rate							2.00%				2.25%	2.25%
2017 Credit Facility [Member] \| LIBOR [Member]
Corporate debt [Abstract]
Adjustment to interest rate							2.00%				2.25%	2.25%
New Revolving Credit Facility [Member]
Corporate debt [Abstract]
Credit facility amount								$ 425,000,000	$ 300,000	$ 215,000
Potential increase in borrowings capacity										$ 70,000
Amount drawn				$ 81,100
New Revolving Credit Facility [Member] \| Maturity December 31, 2022 [Member]
Corporate debt [Abstract]
Maturity date				December 31, 2022
Credit facility amount								387,500,000
New Revolving Credit Facility [Member] \| Maturity December 31, 2021 [Member]
Corporate debt [Abstract]
Maturity date				December 31, 2021
Credit facility amount								$ 37,500,000
2019 Note Issuance Facility [Member]
Corporate debt [Abstract]
Maturity date				April 30, 2025
Credit facility amount \| €			€ 268
Upfront fee percentage			2.00%
Interest capitalization period			2 years
2019 Note Issuance Facility [Member] \| Interest Rate Swap [Member]
Corporate debt [Abstract]
Fixed interest rate				4.20%
Maturity date				June 30, 2022
2019 Note Issuance Facility [Member] \| EURIBOR [Member]
Corporate debt [Abstract]
Adjustment to interest rate			4.50%
Variable interest period			3 months
Commercial Paper [Member]
Corporate debt [Abstract]
Short term notes authorized amount	$ 50,000,000
Tenor of short term notes	2 years
Short term notes issued amount	$ 25,000,000
Percentage average cost of issued short term notes	0.66%

Income Tax (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax [Abstract]

As of December 31, 2019, and 2018, the analysis of deferred tax assets and deferred tax liabilities is as follows:

Deferred tax assets	Balance as of December 31,
Concept	2019		2018
Net tax credits for tax losses carryforwards		61,693		55,835
Temporary differences on derivatives financial instruments		86,096		79,865
Other temporary differences		177		366
Total deferred tax assets		147,966		136,066

Deferred tax liabilities reversals are also considered in these projections, as well as any limitation established by tax regulations in force in each tax jurisdiction.

Deferred tax liabilities	Balance as of December 31,
Concept	2019		2018
Temporary differences tax/book amortization		145,166		126,792
Other temporary differences tax/book value of contracted concessional assets		83,481		73,793
Other temporary differences		20,349		10,415
Total deferred tax liabilities		248,996		211,000

Movements in deferred tax assets and liabilities

The movements in deferred tax assets and liabilities during the years ended December 31, 2019 and 2018 were as follows:

Deferred tax assets	Amount
As of December 31, 2017		165,136
First application of IFRS 9 effective January 1, 2018		11,811
Increase/(decrease) through the consolidated income statement		(24,195	)
Increase/(decrease) through other consolidated comprehensive income (equity)		(10,685	)
Other movements		(6,001	)
As of December 31, 2018		136,066

Increase/(decrease) through the consolidated income statement		5,809
Increase/(decrease) through other consolidated comprehensive income (equity)		6,147
Other movements		(56	)
As of December 31, 2019		147,966

Deferred tax liabilities	Amount
As of December 31, 2017		186,583
First application of IFRS 9 effective January 1, 2018		8,849
Increase/(decrease) through the consolidated income statement		17,996
Change in the scope of the consolidated financial statements (Note 5)		590
Other movements		(3,018	)
As of December 31, 2018		211,000

Increase/(decrease) through the consolidated income statement		31,678
Change in the scope of the consolidated financial statements (Note 5)		2,539
Other movements		3,779
As of December 31, 2019		248,996

Income tax benefit/(expense)

Details of income tax for the years ended December 31, 2019, 2018 and 2017 are as follows:

	For the twelve-month period ended December 31,
Item	2019			2018			2017
Current tax		(5,081	)		(468	)		(1,998	)
Deferred tax		(25,869	)		(42,191	)		(117,839	)
- relating to the origination and reversal of temporary differences		(25,869	)		(42,191	)		(98,508	)
- relating to changes in tax rates		-			-			(19,331	)
Total income tax benefit/(expense)		(30,950	)		(42,659	)		(119,837	)

Effective income tax rate reconciliation

The reconciliation between the theoretical income tax resulting from applying an average statutory tax rate to profit/(loss) before income tax and the actual income tax expense recognized in the consolidated income statements for the years ended December 31, 2019, 2018 and 2017, are as follows:

	For the year ended December 31,
Concept	2019			2018			2017
Consolidated income / (loss) before taxes		105,558			97,928			14,950
Average statutory tax rate		25	%		30	%		30	%
Corporate income tax at average statutory tax rate		(26,390	)		(29,378	)		(4,485	)
Income tax of associates, net		1,808			1,639			1,765
Differences in foreign tax rates		(7,076	)		752			3,304
Permanent differences		11,220			5,385			19,324
Incentives, deductions, and unrecognized tax losses carryforwards		(14,161	)		(22,972	)		(20,994	)
Change in corporate income tax		-			-			(19,331	)
U.S. Internal Revenue Code Section 382		-			-			(96,328	)
Other non-taxable income/(expense)		3,649			1,915			(3,092	)
Corporate income tax		(30,950	)		(42,659	)		(119,837	)

Financial instruments by category

12 Months Ended

Dec. 31, 2019

Financial instruments by category [Abstract]

Financial instruments by category

Note 8.- Financial instruments by category

Financial instruments are primarily deposits, derivatives, trade and other receivables and loans. Financial instruments by category (current and non-current), reconciled with the statement of financial position as of December 31, 2019 and 2018 are as follows:

	Notes		Amortized cost		Fair Value Through Other Comprehensive Income		Fair value Through profit or loss		Balance as of December 31, 2019
Derivative assets		9		-		-		5,230		5,230
Investment in Ten West Link				-		9,874		-		9,874
Investment in Rioglass				-		-		7,000		7,000
Other financial investments				288,060		-		-		288,060
Trade and other receivables		11		317,568		-		-		317,568
Cash and cash equivalents		12		562,795		-		-		562,795
Total financial assets				1,168,423		9,874		12,230		1,190,527

Corporate debt	14	723,791	-	-	723,791
Project debt	15	4,852,348	-	-	4,852,348
Related parties – non-current	10	17,115	-	-	17,115
Trade and other current liabilities	17	128,062	-	-	128,062
Derivative liabilities	9	-	-	298,744	298,744
Total financial liabilities		5,721,316	-	298,744	6,020,060

	Notes		Amortized cost		Fair Value Through Other Comprehensive Income		Fair value Through profit or loss		Balance as of December 31, 2018
Derivative assets		9		-		-		13,153		13,153
Investment in Ten West Link				-		6,034		-		6,034
Other financial investments				274,318		-		-		274,318
Trade and other receivables		11		236,395		-		-		236,395
Cash and cash equivalents		12		631,542		-		-		631,542
Total financial assets				1,142,255		6,034		13,153		1,161,441

Corporate debt	14	684,073	-	-	684,073
Project debt	15	5,091,114	-	-	5,091,114
Related parties – non-current	10	33,675	-	-	33,675
Trade and other current liabilities	17	192,033	-	-	192,033
Derivative liabilities	9	-	-	279,152	279,152
Total financial liabilities		6,000,895	-	279,152	6,280,047

Other financial investments include primarily the short-term portion of contracted concessional assets (see Note 6) for $160.6 million as of December 31, 2019 and for $159.1 million as of December 31, 2018.

Investment in Ten West Link is a 12.5% interest in a 114-mile transmission line in the U.S., currently under development.

Investment in Rioglass corresponds to 15.12% of the equity interest of Rioglass, a multinational solar power and renewable energy technology manufacturer, acquired in May 2019 by the Company.

Changes in the scope of the consolidated financial statements, 2019 (Details) $ in Thousands				12 Months Ended
	Aug. 02, 2019 USD ($) MW	May 24, 2019 USD ($) MW	May 09, 2019 USD ($) MW	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Oct. 22, 2019 USD ($)	Nov. 27, 2018	Dec. 31, 2017 USD ($)
Changes in the scope of the consolidated financial statements [Abstract]
Investments carried under the equity method				$ 139,925	$ 53,419			$ 55,784
Algonquin [Member]
Changes in the scope of the consolidated financial statements [Abstract]
Percentage interest acquired							16.47%
Asset Acquisition [Member]
Changes in the scope of the consolidated financial statements [Abstract]
Investments carried under the equity method					1
Asset Acquisition [Abstract]
Concessional assets (Note 6)				28,738	155,909
Investments carried under the equity method (Note 7)				113,897
Other non-current assets				25,342
Current assets				1,503	5,646
Deferred tax liabilities (Note 18)				(2,539)	(590)
Other current and non-current liabilities				(1,512)	(3,000)
Non-controlling interests				(92,303)
Asset acquisition - purchase price				(73,126)	(76,604)
Net result of the asset acquisition				0	0
Revenue contributed by the acquisitions				300	1,800
Amount of profit (loss) after tax				500	(300)
Additional revenue amount				2,300	13,300
Additional amount of loss after tax				$ (2,400)	$ (700)
Amherst Island [Member]
Changes in the scope of the consolidated financial statements [Abstract]
Gross capacity \| MW		75	75
Investments carried under the equity method		$ 4,900	$ 4,900
Amherst Island [Member] \| Algonquin [Member]
Changes in the scope of the consolidated financial statements [Abstract]
Investments carried under the equity method		92,300
Amherst Island [Member] \| AYES Canada [Member]
Changes in the scope of the consolidated financial statements [Abstract]
Investments carried under the equity method		$ 97,200
Monterrey [Member]
Changes in the scope of the consolidated financial statements [Abstract]
Gross capacity \| MW	142
Investments carried under the equity method	$ 16,600
Percentage interest acquired	30.00%
Total investment	$ 42,000
ASI Ops [Member]
Changes in the scope of the consolidated financial statements [Abstract]
Investments carried under the equity method	$ 6,000
Percentage interest acquired	100.00%
Total investment	$ 6,000
ATN2 [Member]
Changes in the scope of the consolidated financial statements [Abstract]
Investments carried under the equity method						$ 20,000

Project debt, Movement in project debt and Significant foreign currency denominated debts (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Project Debt [Abstract]
Project debt	$ 4,852,348	$ 5,091,114	$ 5,475,208
Euro [Member]
Project Debt [Abstract]
Project debt	1,882,618	2,049,892
Algerian Dinar [Member]
Project Debt [Abstract]
Project debt	24,331	29,545
South African Rand [Member]
Project Debt [Abstract]
Project debt	384,313	384,915
All Foreign Currencies [Member]
Project Debt [Abstract]
Project debt	$ 2,291,262	$ 2,464,352

Income Tax, Income tax benefit/(expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax [Abstract]
Current tax	$ (5,081)	$ (468)	$ (1,998)
Deferred tax	(25,869)	(42,191)	(117,839)
Deferred tax expense (income) relating to origination and reversal of temporary differences	(25,869)	(42,191)	(98,508)
Deferred tax expense (income) relating to changes in tax rates	0	0	(19,331)
Total income tax benefit/(expense)	$ (30,950)	$ (42,659)	$ (119,837)

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Project debt, Variations of project debt (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Project debt [Abstract]
Cash held to satisfy non-recourse debt agreements		$ 339,000	$ 296,000
Total Project Debt [Abstract]
Beginning balance		5,091,114	5,475,208
Increases		333,226	393,007
Decreases		(535,418)	(620,767)
Debt refinancing IFRS 9 impact	$ (36,600)
Changes in the scope of the consolidated financial statements			81,362
Currency translation differences		(36,574)	(162,455)
Reclassifications		0	0
Ending balance		4,852,348	5,091,114	$ 5,475,208
Main variations [Abstract]
Repayment of debt		603,070	385,964	613,242
IFRS 9 Adjustment [Member]
Total Project Debt [Abstract]
First time application of IFRS 9 effective January 1, 2018			(39,599)
Debt refinancing IFRS 9 impact			(36,642)
Project Debt - Long-term [member]
Total Project Debt [Abstract]
Beginning balance		4,826,659	5,228,917
Increases		53,222	105,466
Decreases		(19,272)	(98,450)
Changes in the scope of the consolidated financial statements			79,016
Currency translation differences		(33,718)	(150,019)
Reclassifications		(756,981)	(262,030)
Ending balance		4,069,909	4,826,659	5,228,917
Project Debt - Long-term [member] \| IFRS 9 Adjustment [Member]
Total Project Debt [Abstract]
First time application of IFRS 9 effective January 1, 2018			(39,599)
Debt refinancing IFRS 9 impact			(36,642)
Project Debt - Short-term [Member]
Total Project Debt [Abstract]
Beginning balance		264,455	246,291
Increases		280,005	288,541
Decreases		(516,147)	(522,317)
Changes in the scope of the consolidated financial statements			2,346
Currency translation differences		(2,855)	(12,436)
Reclassifications		756,981	262,030
Ending balance		782,439	264,455	$ 246,291
Project Debt - Short-term [Member] \| IFRS 9 Adjustment [Member]
Total Project Debt [Abstract]
First time application of IFRS 9 effective January 1, 2018			0
Debt refinancing IFRS 9 impact			0
Solana [Member]
Main variations [Abstract]
Repayment of debt		$ 22,200	$ 61,500

Earnings per share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings per share [Abstract]

Earnings per share

Basic earnings per share for the year 2019 has been calculated by dividing the profit/(loss) attributable to equity holders of the company by the number of shares outstanding. Diluted earnings per share equals basic earnings per share for the years presented.

	For the year ended December 31,
Item	2019		2018		2017
Profit/(loss) from continuing operations attributable to Atlantica Yield Plc.		62,135		41,596		(111,804	)
Average number of ordinary shares outstanding (thousands) - basic and diluted		101,063		100,217		100,217
Earnings per share from continuing operations (US dollar per share) - basic and diluted		0.61		0.42		(1.12	)
Earnings per share from profit/ (loss) for the period (US dollar per share) - basic and diluted		0.61		0.42		(1.12	)

Investments carried under the equity method, Breakdown of stand-alone amounts (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Aug. 02, 2019

May 24, 2019

May 09, 2019

Dividend distribution [Abstract]

Dividend distribution

$ 30,528

$ 4,463

8,540,607

8,791,336

1,119,208

1,127,695

6,971,601

7,423,780

973,358

739,139

1,011,452

1,043,822

$ 1,008,381

74,608

55,269

(104,887)

139,925

53,419

$ 55,784

Share of profit

7,457

5,231

Amherst Island [Member]

$ 4,900

Monterrey [Member]

Geida Tlemcen, S.L. [Member]

$ 16,600

Dividend distribution [Abstract]

Dividend distribution

4,600

Amherst Island Partnership [Member] | Amherst Island [Member]

Dividend distribution [Abstract]

Dividend distribution

$ 25,900

Arroyo Netherlands II B.V [Member]

Associate Companies [Member]

30.00%

AYES Canada [Member] | Amherst Island [Member]

$ 139,925

$ 53,419

Evacuacion Valdecaballeros, S.L. [Member]

$ 97,200

57.16%

$ 18,584

$ 19,679

1,268

820

13,145

381

783

420

694

320

(277)

(668)

(303)

(693)

Evacuacion Valdecaballeros, S.L. [Member] | Bottom of Range [Member]

$ 2,348

$ 8,773

Percentage of shareholders required for approval of relevant decisions

75.00%

Myah Bahr Honaine, S.P.A. [Member]

^[1]

25.50%

^[1]

$ 184,332

$ 186,484

^[1]

63,148

63,224

^[1]

71,614

81,942

^[1]

13,562

13,184

^[1]

51,504

50,118

^[1]

33,372

25,778

^[1]

30,186

22,193

Myah Bahr Honaine, S.P.A. [Member] | Geida Tlemcen, S.L. [Member]

^[1]

$ 45,222

43,161

Pectonex, R.F. Proprietary Limited [Member]

51.00%

Share of profit

$ 7,697

$ 5,659

50.00%

$ 3,074

$ 3,186

(190)

(209)

(190)

(209)

Evacuacion Villanueva del Rey, S.L [Member]

$ 1,391

$ 1,485

40.02%

$ 2,946

$ 3,190

107

257

1,841

2,021

225

383

Ca Ku A1, S.A.P.I de CV (PTS) [Member]

$ 0

5.00%

$ 486,179

$ 284,375

55,423

10,951

543,077

295,865

(39)

(495)

(624)

Pemcorp SAPI de CV [Member]

$ 0

^[2]

30.00%

^[2]

$ 125,301

^[2]

72,669

^[2]

197,324

^[2]

5,090

^[2]

32,302

^[2]

5,737

^[2]

(10,073)

Pemcorp SAPI de CV [Member] | Arroyo Netherlands II B.V [Member]

^[2]

$ 17,179

ABY Infraestructuras S.L.U. [Member]

100.00%

Share of profit

$ 521

20.00%

$ 0

(104)

(101)

Windlectric Inc. [Member]

$ 11

^[3]

30.00%

^[3]

$ 319,041

^[3]

10,655

^[3]

232,938

^[3]

22,424

^[3]

24,867

^[3]

11,125

^[3]

(6,537)

Windlectric Inc. [Member] | Amherst Island Partnership [Member]

^[3]

$ 73,693

Other Renewable Energy Joint Ventures [Member]

100.00%

^[4]

50.00%

^[4]

$ 47

^[4]

146

^[4]

^[4]

^[4]

^[4]

(46)

^[4]

(46)

Trade payables and other current liabilities [Abstract]

^[4]

$ 81

[1]	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 financial statements. Share of profit of Myah Bahr Honaine S.P.A. included in these consolidated financial statements amounts to $7,697 thousand in 2019 and $5,659 thousand in 2018.
[2]	Pemcorp SAPI de CV, Monterrey's project entity, is 100% owned by Arroyo Netherlands II B.V. which is accounted for under the equity method in these consolidated financial statements (Note 5). Arroyo Netherlands II B.V. is 30% owned by Atlantica. Share of profit of Pemcorp SAPI de CV included in these consolidated financial statements amounts to $521 thousand in 2019.
[3]	Windlectric Inc., the project entity, is owned 100% by Amherst Island Partnership which is accounted for under the equity method (Note 5).
[4]	Other renewable energy joint ventures correspond to investments made in the following entities located in Colombia: AC Renovables Sol 1 SAS Esp, PA Renovables Sol 1 SAS Esp, SJ Renovables Sun 1 SAS Esp and SJ Renovables Wind 1 SAS Esp.

Trade payables and other current liabilities

12 Months Ended

Dec. 31, 2019

Trade payables and other current liabilities

Note 17.- Trade payables and other current liabilities

Trade payables and other current liabilities as of December 31, 2019 and 2018 are as follows:

	Balance as of December 31,
Item	2019		2018
Trade accounts payables		52,062		109,430
Down payments from clients		565		6,289
Liberty (see Note 16)		41,032		37,119
Other accounts payable		34,403		39,195
Total		128,062		192,033

Trade accounts payables mainly relate to the operating and maintenance of the plants.

Nominal values of Trade payables and other current liabilities are considered to approximately equal to fair values and the effect of discounting them is not significant.

Corporate debt (Tables)

12 Months Ended

Dec. 31, 2019

Corporate debt [Abstract]

Repayment schedule for corporate debt

The breakdown of the corporate debt as of December 31, 2019 and 2018 is as follows:

	Balance as of December 31,
Non-current	2019		2018
Credit Facilities with financial entities		695,085		415,168
Total Non-current		695,085		415,168

	Balance as of December 31,
Current	2019		2018
Credit Facilities with financial entities		789		11,580
Notes and Bonds		27,917		257,325
Total Current		28,706		268,905

The repayment schedule for the corporate debt as of December 31, 2019 is as follows:

	2020		2021		2022		2023		2024		Subsequent years		Total
New Revolving Credit Facility		701		-		81,164		-		-		-		81,865
Note Issuance Facility		84		-		101,317		100,513		100,413		-		302,327
2017 Credit Facility		4		10,085		-		-		-		-		10,089
2019 Notes Issuance Facility		-		7,938		-		-		-		293,655		301,593
Commercial Paper		27,917		-		-		-		-		-		27,917
Total		28,706		18,023		182,481		100,513		100,413		293,655		723,791

Movement in corporate debt

The following table details the movement in Corporate debt for the year 2019, split between cash and non-cash items:

		January 1, 2019				Cash Flow				Non-cash changes				December 31, 2019
Corporate debt			684,073				6,620				33,098				723,791

Changes in the scope of the consolidated financial statements, 2018 (Details) $ in Thousands			12 Months Ended
	Dec. 28, 2018 USD ($) TransmissionLine	Oct. 10, 2018 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 13, 2018 USD ($)	Dec. 11, 2018 USD ($)	Feb. 28, 2018 USD ($)	Dec. 31, 2017 USD ($)
Asset Acquisition [Abstract]
Investments carried under the equity method (Note 7)			$ 139,925	$ 53,419				$ 55,784
Project debt long term (Note 15)			(4,069,909)	(4,826,659)
Project debt short term (Note 15)			(782,439)	(264,455)
Asset Acquisition [Member]
Asset Acquisition [Abstract]
Concessional assets (Note 6)			28,738	155,909
Investments carried under the equity method (Note 7)				1
Current assets			1,503	5,646
Project debt long term (Note 15)				(79,016)
Deferred tax liabilities (Note 18)			(2,539)	(590)
Project debt short term (Note 15)				(2,346)
Other current and non-current liabilities			(1,512)	(3,000)
Asset acquisition - purchase price			(73,126)	(76,604)
Net result of the asset acquisition			0	0
Revenue contributed by the acquisitions			300	1,800
Amount of profit (loss) after tax			500	(300)
Additional revenue amount			2,300	13,300
Additional amount of loss after tax			$ (2,400)	$ (700)
Mini- Hydro [Member]
Changes in the scope of the consolidated financial statements [Abstract]
Percentage interest acquired		5.00%					100.00%
Purchase price							$ 9,327
Pemex Transportation System [Member]
Changes in the scope of the consolidated financial statements [Abstract]
Consideration initial amount will be disbursed as construction progresses		$ 7,000
Chile TL3 [Member]
Changes in the scope of the consolidated financial statements [Abstract]
Purchase price						$ 6,000
Melowind [Member]
Changes in the scope of the consolidated financial statements [Abstract]
Percentage interest acquired					100.00%
Purchase price					$ 45,276
Power Substation [Member]
Changes in the scope of the consolidated financial statements [Abstract]
Purchase price	$ 16,000
Number of transmission lines acquired \| TransmissionLine	2

Grants and other liabilities

12 Months Ended

Dec. 31, 2019

Grants and other liabilities [Abstract]

Grants and other liabilities

Note 16.- Grants and other liabilities

Grants and other liabilities as of December 31, 2019 and December 31, 2018 are as follows:

	Balance as of December 31,
	2019		2018
Grants		1,087,553		1,150,805
Other liabilities		554,199		507,321
Grant and other non-current liabilities		1,641,752		1,658,126

As of December 31, 2019, the amount recorded in Grants corresponds primarily to the ITC Grant awarded by the U.S. Department of the Treasury to Solana and Mojave for a total amount of $707 million ($739 million as of December 31, 2018), which was primarily used to fully repay the Solana and Mojave short-term tranche of the loan with the Federal Financing Bank. The amount recorded in Grants as a liability is progressively recorded as other income over the useful life of the asset.

The remaining balance of the “Grants” account corresponds to loans with interest rates below market rates for Solana and Mojave for a total amount of $379 million ($410 million as of December 31, 2018). Loans with the Federal Financing Bank guaranteed by the Department of Energy for these projects bear interest at a rate below market rates for these types of projects and terms. The difference between proceeds received from these loans and its fair value, is initially recorded as “Grants” in the consolidated statement of financial position, and subsequently recorded in “Other operating income” starting at the entry into operation of the plants. Total amount of income for these two types of grants for Solana and Mojave is $59.0 million and $59.3 million for the year ended December 31, 2019 and 2018, respectively.

Other liabilities mainly relate to the investment from Liberty Interactive Corporation (‘Liberty’) made on October 2, 2013 for an amount of $300 million. The investment was made in the parent company of the project entity, in exchange for the right to receive a large part of taxable losses and distributions until such time when Liberty reaches a certain rate of return, or the Flip Date. Given the underperformance of the asset in the last years, the Company cannot assure the Flip Date will occur or when it will occur. The company expects potential cash distributions from Solana to go mostly or entirely to Liberty in the upcoming years. If the Flip Date never occurs or if there is a delay longer than currently anticipated, this will adversely affect the cash flows the Company expected from that project. In addition, the Company signed an option to acquire, until April 30, 2020, Liberty’s equity interest in Solana.

According to the stipulations of IAS 32 and in spite of the fact that the investment of Liberty is in shares, it does not qualify as equity and has been classified as a liability as of December 31, 2019 and 2018. The liability is recorded in Grants and other liabilities for a total amount of $380 million ($358 million as of December 31, 2018) and its current portion is recorded in other current liabilities for the remaining amount (see Note 17). This liability has been initially valued at fair value, calculated as the present value of expected cash-flows during the useful life of the concession, and is then measured at amortized cost in accordance with the effective interest method, considering the most updated expected future cash-flows.

Additionally, other liabilities include $54 million of finance lease liabilities and $60 million of dismantling provision as of December 31, 2019 ($57 million and $57 million as of December 31,2018, respectively).

Commitments, third-party guarantees, contingent assets and liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Commitments, third-party guarantees, contingent assets and liabilities [Abstract]

Contractual obligations

The following tables shows the breakdown of the third-party commitments and contractual obligations as of December 31, 2019 and 2018:

2019	Total		2020		2021 and 2022		2023 and 2024		Subsequent

Corporate debt		723,791		28,706		200,504		200,926		293,655
Loans with credit institutions (project debt)		4,105,915		241,116		504,921		598,837		2,761,041
Notes and bonds (project debt)		746,433		28,304		51,508		56,192		610,429
Purchase commitments*		2,991,432		129,595		278,418		269,632		2,313,787
Accrued interest estimate during the useful life of loans		2,472,070		294,676		549,320		471,535		1,156,539

2018	Total		2019		2020 and 2021		2022 and 2023		Subsequent

Corporate debt		684,073		268,905		107,560		205,258		102,350
Loans with credit institutions (project debt)		4,314,307		233,214		476,191		571,374		3,033,528
Notes and bonds (project debt)		776,807		31,241		49,445		54,879		641,242
Purchase commitments*		3,082,495		131,417		264,461		259,775		2,426,842
Accrued interest estimate during the useful life of loans		2,743,132		314,984		565,040		492,932		1,370,176

Nature of the business, Assets acquired (Details)
$ in Thousands

1 Months Ended

12 Months Ended

Aug. 02, 2019

USD ($)

Corporation

May 24, 2019

USD ($)

May 09, 2019

USD ($)

Jan. 29, 2019

USD ($)

Oct. 31, 2019

USD ($)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

USD ($)

Oct. 22, 2019

USD ($)

Dec. 31, 2017

USD ($)

Befesa Agua Tenes, S.L.U. [Member]

$ 139,925

$ 53,419

$ 55,784

Equity value of agreed price

51.00%

$ 24,500

Consideration payment advanced

$ 19,900

Interest rate

12.00%

Payment received through cash sweep mechanism

$ 7,800

Monterrey [Member]

30.00%

Acquisition purchase price

142

$ 42,000

Ownership percentage acquired

30.00%

Installed capacity | MW

130

Battery capacity | MW

Period of PPA

20 years

Number of international corporations | Corporation

Ownership percentage to be acquired under ROFO agreement

70.00%

$ 16,600

Amherst Island [Member]

Installed capacity | MW

ASI Operations LLC [Member]

$ 4,900

Acquisition purchase price

100.00%

$ 6,000

$ 6,000

ATN2 [Member]

Acquisition purchase price

$ 20,000

Chile TL3 [Member]

Gross capacity | kV

100.00%

Mini- Hydro [Member]

100.00%

Melowind [Member]

100.00%

100.00%

Solacor 1/2 [Member]

^[1]

87.00%

Seville PV [Member]

^[2]

80.00%

PTS [Member]

5.00%

[1]	JGC, a Japanese engineering company, holds 13% of the shares in each of Solacor 1 and Solacor 2.
[2]	Instituto para la Diversificacion y Ahorro de la Energia ("Idae"), a Spanish state owned company, holds 20% of the shares in Seville PV.

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings per share [Abstract]
Profit/(loss) from continuing operations attributable to Atlantica Yield Plc.	$ 62,135	$ 41,596	$ (111,804)
Average number of ordinary shares outstanding (thousands) - basic and diluted (in shares)	101,063	100,217	100,217
Earnings per share from continuing operations - basic and diluted (in dollars per share)	$ 0.61	$ 0.42	$ (1.12)
Earnings per share from profit/ (loss) for the period - basic and diluted (in dollars per share)	$ 0.61	$ 0.42	$ (1.12)

Nature of the business, Concessional assets owned (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2019

Sep. 30, 2013

ACT [Member]

Efficient natural gas

100.00%

Mexico

^[1]

USD

300 MW

^[2]

BBB+/ Baa3/BB+

^[3]

2013

^[4]

13 years

Monterrey [Member]

Efficient natural gas

30.00%

Mexico

^[1]

USD

142 MW

^[2]

Not rated

^[3]

2018

^[4]

19 years

ATN [Member]

^[5]

Transmission line

100.00%

Peru

^[1]

USD

379 miles

^[2]

BBB+/A3/BBB+

^[3]

2011

^[4]

21 years

ATS [Member]

Transmission line

100.00%

Peru

^[1]

USD

569 miles

^[2]

BBB+/A3/BBB+

^[3]

2014

^[4]

24 years

ATN2 [Member]

Transmission line

100.00%

Peru

^[1]

USD

81 miles

^[2]

Not rated

^[3]

2015

^[4]

13 years

Quadra 1 [Member]

Transmission line

100.00%

Chile

^[1]

USD

49 miles

^[2]

Not rated

^[3]

2014

^[4]

15 years

Quadra 2 [Member]

Transmission line

100.00%

Chile

^[1]

USD

32 miles

^[2]

Not rated

^[3]

2014

^[4]

15 years

Palmucho [Member]

Transmission line

100.00%

Chile

^[1]

USD

6 miles

^[2]

BBB+/Baa2/BBB+

^[3]

2007

^[4]

18 years

Chile TL3 [Member]

Transmission line

100.00%

Chile

^[1]

USD

50 miles

^[2]

A+/A1/A

^[3]

1993

Skikda [Member]

Water

^[6]

34.20%

Algeria

^[1]

USD

3.5 M ft3/day

^[2]

Not rated

^[3]

2009

Skikda [Member] | Algerian Energy Company, SPA [Member]

^[4]

14 years

Skikda [Member] | Valoriza Agua, S.L. [Member]

49.00%

16.83%

Honaine [Member]

Water

^[7]

25.50%

Algeria

^[1]

USD

7 M ft3/day

^[2]

Not rated

^[3]

2012

Honaine [Member] | Algerian Energy Company, SPA [Member]

^[4]

18 years

Honaine [Member] | Valoriza Agua, S.L. [Member]

49.00%

25.50%

PS10/PS20 [Member]

Renewable (Solar)

100.00%

Spain

^[1]

Euro

31 MW

^[2]

A/Baa1/A-

^[3]

2007 & 2009

PS10 [Member]

^[4]

12 years

PS20 [Member]

^[4]

14 years

Solana [Member]

Renewable (Solar)

100.00%

Ownership interest type

^[8]

Class B

Arizona (USA)

^[1]

USD

280 MW

^[2]

A-/A2/A-

^[3]

2013

Solana [Member] | Liberty Interactive Corporation [Member]

^[4]

24 years

Class A membership investment

$ 300

Mojave [Member]

Renewable (Solar)

100.00%

California (USA)

^[1]

USD

280 MW

^[2]

D/WR/WD

^[3]

2014

^[4]

20 years

Solaben 2 & 3 [Member]

Renewable (Solar)

^[9]

70.00%

Spain

^[1]

Euro

2x50 MW

^[2]

A/Baa1/A-

Solaben 2 & 3 [Member] | Itochu Corporation [Member]

^[3]

2012

30.00%

Solaben 2 [Member]

^[4]

18 years

Solaben 3 [Member]

^[4]

17 years

Solacor 1 & 2 [Member]

Renewable (Solar)

^[10]

87.00%

Spain

^[1]

Euro

2x50 MW

^[2]

A/Baa1/A-

Solacor 1 & 2 [Member] | JGC [Member]

^[3]

2012

13.00%

Solacor 1 [Member]

^[4]

17 years

Solacor 2 [Member]

Helioenergy 1 & 2 [Member]

^[4]

17 years

Renewable (Solar)

100.00%

Spain

^[1]

Euro

2x50 MW

^[2]

A/Baa1/A-

^[3]

2011

Helioenergy 1 [Member]

^[4]

17 years

Helioenergy 2 [Member]

^[4]

17 years

Helios 1 & 2 [Member]

Renewable (Solar)

100.00%

Spain

^[1]

Euro

2x50 MW

^[2]

A/Baa1/A-

^[3]

2012

Helios 1 [Member]

^[4]

18 years

Helios 2 [Member]

Solnova 1, 3 & 4 [Member]

^[4]

18 years

Renewable (Solar)

100.00%

Spain

^[1]

Euro

3x50 MW

^[2]

A/Baa1/A-

^[3]

2010

Solnova 1 [Member]

^[4]

15 years

Solnova 3 [Member]

^[4]

15 years

Solnova 4 [Member]

^[4]

16 years

Solaben 1 & 6 [Member]

Renewable (Solar)

100.00%

Spain

^[1]

Euro

2x50 MW

^[2]

A/Baa1/A-

^[3]

2013

Solaben 1 [Member]

^[4]

19 years

Solaben 6 [Member]

^[4]

19 years

Kaxu [Member]

Renewable (Solar)

^[11]

51.00%

South Africa

^[1]

Rand

100 MW

^[2],[12]

BB/Baa3/BB+

^[3]

2015

Kaxu [Member] | IDC [Member]

^[4]

15 years

Kaxu [Member] | Kaxu Community Trust [Member]

29.00%

20.00%

Palmatir [Member]

Renewable (Wind)

100.00%

Uruguay

^[1]

USD

50 MW

^[2],[13]

BBB/Baa2/BBB-

^[3]

2014

^[4]

14 years

Cadonal [Member]

Renewable (Wind)

100.00%

Uruguay

^[1]

USD

50 MW

^[2],[13]

BBB/Baa2/BBB-

^[3]

2014

^[4]

15 years

Seville PV [Member]

Renewable (Solar)

^[14]

80.00%

Spain

^[1]

Euro

1 MW

^[2]

A/Baa1/A-

^[3]

2006

Seville PV [Member] | Idae [Member]

^[4]

16 years

20.00%

Melowind [Member]

Renewable (Wind)

100.00%

Uruguay

^[1]

USD

50MW

^[2]

BBB/Baa2/BBB-

^[3]

2015

^[4]

16 years

Mini-Hydro [Member]

Renewable (Hydraulic)

100.00%

Peru

^[1]

USD

4 MW

^[2]

BBB+/A3/ BBB+

^[3]

2012

Grants and other liabilities [Abstract]

^[4]

13 years

[1]	Certain contracts denominated in U.S. dollars are payable in local currency.
[2]	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.
[3]	Commercial Operation Date.
[4]	As of December 31, 2019.
[5]	Including the acquisition of ATN Expansion 1 & 2.
[6]	Algerian Energy Company, SPA owns 49% of Skikda and Sacyr Agua, S.L. owns the remaining 16.83%.
[7]	Algerian Energy Company, SPA owns 49% of Honaine and Sacyr Agua, S.L. owns the remaining 25.5%.
[8]	On September 30, 2013, Liberty Interactive Corporation agreed to invest $300 million in Class A shares of ASO Holdings Company LLC, the holding company of Solana, in exchange for a share of the dividends and the taxable losses generated by Solana.
[9]	Itochu Corporation, a Japanese trading company, holds 30% of the shares in each of Solaben 2 and Solaben 3.
[10]	JGC, a Japanese engineering company, holds 13% of the shares in each of Solacor 1 and Solacor 2.
[11]	Kaxu is owned by the Company (51%), Industrial Development Corporation of South Africa (29%) and Kaxu Community Trust (20%).
[12]	Refers to the credit rating of the Republic of South Africa. The offtaker is Eskom, which is a state-owned utility company in South Africa.
[13]	Refers to the credit rating of Uruguay, as UTE (Administracion Nacional de Usinas y Transmisoras Electricas) is unrated.
[14]	Instituto para la Diversificacion y Ahorro de la Energia ("Idae"), a Spanish state owned company, holds 20% of the shares in Seville PV.

Grants and other liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Grants and other non-current liabilities

Grants and other liabilities as of December 31, 2019 and December 31, 2018 are as follows:

	Balance as of December 31,
	2019		2018
Grants		1,087,553		1,150,805
Other liabilities		554,199		507,321
Grant and other non-current liabilities		1,641,752		1,658,126

Financial information by segment, Assets and liabilities by geography (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets allocated [Abstract]
Contracted concessional assets	$ 8,161,129	$ 8,549,181
Investments carried under the equity method	139,925	53,419	$ 55,784
Current financial investments	218,577	240,834
Cash and cash equivalents (project companies)	562,795	631,542	669,387	$ 594,811
Total assets	9,659,815	9,919,031
Liabilities allocated [Abstract]
Long-term and short-term project debt	4,852,348	5,091,114	5,475,208
Grants and other liabilities	1,641,752	1,658,126
Long-term and short-term corporate debt	723,791	684,073
Total liabilities	7,944,959	8,162,919
Equity	1,714,856	1,756,112	$ 1,895,453	$ 1,959,111
Total liabilities and equity	9,659,815	9,919,031
North America [Member]
Assets allocated [Abstract]
Contracted concessional assets	3,299,198	3,453,652
Investments carried under the equity method	90,847	0
Current financial investments	159,267	147,213
Cash and cash equivalents (project companies)	181,458	195,678
Total assets	3,730,771	3,796,543
Liabilities allocated [Abstract]
Long-term and short-term project debt	1,676,251	1,725,961
Grants and other liabilities	1,490,679	1,527,724
Total liabilities	3,166,930	3,253,685
South America [Member]
Assets allocated [Abstract]
Contracted concessional assets	1,186,552	1,210,624
Investments carried under the equity method	0	0
Current financial investments	29,190	61,959
Cash and cash equivalents (project companies)	80,909	41,316
Total assets	1,296,652	1,313,899
Liabilities allocated [Abstract]
Long-term and short-term project debt	884,835	900,801
Grants and other liabilities	12,864	7,550
Total liabilities	897,699	908,351
EMEA [Member]
Assets allocated [Abstract]
Contracted concessional assets	3,675,379	3,884,905
Investments carried under the equity method	49,078	53,419
Current financial investments	20,673	30,080
Cash and cash equivalents (project companies)	234,097	287,456
Total assets	3,979,227	4,255,860
Liabilities allocated [Abstract]
Long-term and short-term project debt	2,291,262	2,464,352
Grants and other liabilities	138,209	122,852
Total liabilities	2,429,471	2,587,204
Allocated [Member]
Assets allocated [Abstract]
Contracted concessional assets	8,161,129	8,549,181
Investments carried under the equity method	139,925	53,419
Current financial investments	209,131	239,252
Cash and cash equivalents (project companies)	496,464	524,450
Total assets	9,006,649	9,366,302
Liabilities allocated [Abstract]
Long-term and short-term project debt	4,852,348	5,091,114
Grants and other liabilities	1,641,752	1,658,126
Total liabilities	6,494,100	6,749,240
Unallocated [Member]
Assets allocated [Abstract]
Other non-current assets	239,553	188,736
Other current assets (including cash and cash equivalents at holding company level)	413,613	363,993
Total assets	653,166	552,729
Liabilities allocated [Abstract]
Long-term and short-term corporate debt	723,791	684,073
Other non-current liabilities	564,855	523,827
Other current liabilities	162,213	205,779
Total liabilities	1,450,859	1,413,679
Equity	1,714,856	1,756,112
Total liabilities and equity	$ 3,165,715	$ 3,169,791

Derivative financial instruments, Breakdown of maturities of notional and fair value amounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Loss on cash flow hedges	$ 55,765	$ 67,519	$ 70,953
Cap [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Notionals	593,715	672,997
Fair value	$ 1,619	$ 9,923
Cap [Member] \| Up to 1 Year [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Notionals	43,266	42,846
Fair value	$ 118	$ 493
Cap [Member] \| Between 1 and 2 Years [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Notionals	45,955	45,603
Fair value	$ 128	$ 524
Cap [Member] \| Between 2 and 3 Years [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Notionals	49,259	48,774
Fair value	$ 140	$ 562
Cap [Member] \| Subsequent Years [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Notionals	455,235	535,774
Fair value	$ 1,234	$ 8,344
Swap [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Notionals	2,180,085	2,305,641
Fair value	$ (298,744)	$ (279,152)
Swap [Member] \| Up to 1 Year [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Notionals	117,574	93,440
Fair value	$ (18,721)	$ (11,848)
Swap [Member] \| Between 1 and 2 Years [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Notionals	124,908	119,568
Fair value	$ (19,787)	$ (13,231)
Swap [Member] \| Between 2 and 3 Years [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Notionals	240,570	234,572
Fair value	$ (21,802)	$ (15,151)
Swap [Member] \| Subsequent Years [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Notionals	1,697,033	1,858,061
Fair value	$ (238,434)	$ (238,922)
Interest Rate Derivatives [Member] \| Euros [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Maturity date	2030
Interest Rate Derivatives [Member] \| Euros [Member] \| Bottom of Range [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Percentage of notional amount of project debt hedged	81.00%
Average guaranteed interest rates	0.89%
Interest Rate Derivatives [Member] \| Euros [Member] \| Top of Range [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Percentage of notional amount of project debt hedged	100.00%
Average guaranteed interest rates	4.87%
Interest Rate Derivatives [Member] \| U.S. Dollars [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Maturity date	2034
Interest Rate Derivatives [Member] \| U.S. Dollars [Member] \| Bottom of Range [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Percentage of notional amount of project debt hedged	70.00%
Average guaranteed interest rates	1.98%
Interest Rate Derivatives [Member] \| U.S. Dollars [Member] \| Top of Range [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Percentage of notional amount of project debt hedged	100.00%
Average guaranteed interest rates	5.27%
Interest Rate Derivatives [Member] \| Cash Flow Hedge [Member]
Breakdown of Maturities of Notional and Fair Value Amounts [Abstract]
Loss on cash flow hedges	$ (55,765)	(67,519)	(70,953)
Gain (loss) on net amount of time value component	157	(560)	$ (860)
After-tax result accumulated in equity	$ 73,797	$ 95,011

Trade and other receivables

12 Months Ended

Dec. 31, 2019

Trade and other receivables [Abstract]

Trade payables and other current liabilities [Abstract]

Note 11.- Trade and other receivables

Trade and other receivable as of December 31, 2019 and 2018, consist of the following:

	Balance as of December 31,
	2019		2018
Trade receivables		242,008		163,856
Tax receivables		50,901		54,959
Prepayments		5,150		5,521
Other accounts receivable		19,508		12,059
Total		317,568		236,395

As of December 31, 2019, and 2018, the fair value of clients and other accounts receivable does not differ significantly from its carrying value.

The increase in trade receivables as of December 31, 2019 is primarily due to delays in the collection of receivables from Pemex (ACT) and the Comision Nacional de los Mercados y de la Competencia or “CNMC” (Spanish solar assets).

Trade receivables in foreign currency as of December 31, 2019 and 2018, are as follows:

	Balance as of December 31,
	2019		2018
Euro		108,280		91,303
South African Rand		24,289		25,193
Other		4,001		9,884
Total		136,570		126,380

Project debt, Repayment schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Repayment schedule [Abstract]
Project debt	$ 4,852,348	$ 5,091,114	$ 5,475,208
2020 [Member]
Repayment schedule [Abstract]
Interest repayment	12,799
Nominal repayment	256,620
2021 [Member]
Repayment schedule [Abstract]
Project debt	262,787
2022 [Member]
Repayment schedule [Abstract]
Project debt	293,642
2023 [Member]
Repayment schedule [Abstract]
Project debt	319,962
2024 [Member]
Repayment schedule [Abstract]
Project debt	335,067
Subsequent Years [Member]
Repayment schedule [Abstract]
Project debt	$ 3,371,724

Trade payables and other current liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Trade payable and other current liabilities

Trade payables and other current liabilities as of December 31, 2019 and 2018 are as follows:

	Balance as of December 31,
Item	2019		2018
Trade accounts payables		52,062		109,430
Down payments from clients		565		6,289
Liberty (see Note 16)		41,032		37,119
Other accounts payable		34,403		39,195
Total		128,062		192,033

Trade payables and other current liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Trade payables and other current liabilities [Abstract]
Trade accounts payables	$ 52,062	$ 109,430
Down payments from clients	565	6,289
Liberty	41,032	37,119
Other accounts payable	34,403	39,195
Total	$ 128,062	$ 192,033

Financial income and expenses (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Feb. 24, 2017	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financial income [Abstract]
Interest income from loans and credits			$ 3,665	$ 36,296	$ 325
Interest rates benefits derivatives: cash flow hedges			456	148	682
Total			4,121	36,444	1,007
Financial expenses [Abstract]
Expenses due to interest - Loans from credit entities			(259,416)	(256,736)	(253,660)
Expenses due to interest - Other debts			(89,256)	(100,057)	(137,562)
Interest rates losses derivatives: cash flow hedges			(59,318)	(68,226)	(72,495)
Total			(407,990)	(425,019)	(463,717)
Non-monetary financial income		$ 36,600
Other financial income / (expenses) [Abstract]
Dividend from ACBH (Brazil)			0	0	10,383
Other financial income			14,152	14,431	28,809
Other financial losses			(15,305)	(22,666)	(20,758)
Total			(1,153)	(8,235)	18,434
Dividend payable to subsidiary retained	$ 10,400
Liberty [Member]
Financial expenses [Abstract]
Increase in amortized cost			$ 16,000	$ 23,000
Abengoa [Member]
Other financial income / (expenses) [Abstract]
Other financial income resulting from termination of currency swap agreement					$ 16,200

Contracted concessional assets

12 Months Ended

Dec. 31, 2019

Contracted concessional assets [Abstract]

Contracted concessional assets

Note 6.- Contracted concessional assets

Contracted concessional assets include fixed assets financed through project debt, related to service concession arrangements recorded in accordance with IFRIC 12, except for Palmucho, which is recorded in accordance with IFRS 16, and PS10, PS20, Seville PV, Mini-Hydro and Chile TL3 which are recorded as property plant and equipment in accordance with IAS 16. Concessional assets recorded in accordance with IFRIC 12 are either intangible or financial assets. As of December 31, 2019, contracted concessional financial assets amount to $819,146 thousand ($843,291 thousand as of December 31, 2018).

For further details on the application of IFRIC 12 to projects, see Appendix III.

The following table shows the movements of contracted concessional assets included in the heading “Contracted Concessional assets” for 2019:

Cost

Total as of January 1, 2019	10,475,828
Additions	1,431
Subtractions	(23,186	)
Change in the scope of the consolidated financial statements (Note 5)	28,738
Translation differences	(81,941	)
Reclassification and other movements	(16,273	)
Total as of December 31, 2019	10,384,597

Accumulated amortization

Total as of January 1, 2019	(1,926,647	)
Additions	(310,755	)
Translation differences	15,778
Reclassification and other movements	(1,844	)
Total accum. amort. as of December 31, 2019	(2,223,468	)
Net balance at December 31, 2019	8,161,129

During 2019, contracted concessional assets decreased primarily due to the effect of the depreciation of the Euro against the U.S. dollar for the year ended December 31, 2019 compared to the year ended December 31, 2018 and to the amortization charge for the year.

Other relevant movements in the cost of contracted concessional assets are an increase for the acquisition of new concessional assets (see Note 5), offset by a decrease for the payments received from Abengoa by Solana in January, June and December 2019 further to Abengoa´s obligation as EPC Contractor for a total amount of $22.2 million (Note 15).

The decrease included in “Reclassification and other movements” is mainly due to the reclassification from the long to the short term of the current portion of the contracted concessional financial assets.

Rights of use, as a result of applying IFRS 16, Leases, amounts to $54.0 million as of December 31, 2019 ($57.5 million at December 31, 2018). The decrease is mainly due to the amortization for the year.

The Company has not identified any triggering event of impairment for its contracted concessional assets, and consequently, no losses from impairment of contracted concessional assets were recorded during the year ended December 31, 2019. Likewise, during 2019, and as part of the triggering event analysis, Solana impairment test was updated, confirming the conclusions reached.

The following table shows the movements of contracted concessional assets included in the heading “Contracted Concessional assets” for 2018:

Cost

Total as of January 1, 2018	10,633,769
Additions	10,463
Application of IFRS 16 – Leases effective January 1, 2018	62,982
Subtractions	(92,814	)
Change in the scope of the consolidated financial statements (Note 5)	170,040
Translation differences	(280,680	)
Reclassification and other movements	(27,932	)
Total as of December 31, 2018	10,475,828

Accumulated amortization

Total as of January 1, 2018	(1,549,499	)
Application of IFRS9 - Expected Credit Losses effective January 1, 2018	(53,048	)
Additions	(362,697	)
Change in the scope of the consolidated financial statements (Note 5)	(14,131	)
Translation differences	52,728
Total accum. amort. as of December 31, 2018	(1,926,647	)
Net balance at December 31, 2018	8,549,181

During 2018, contracted concessional assets decreased primarily due to the effect of the depreciation of the Euro against the U.S. dollar for the year ended December 31, 2019 compared to the year ended December 31, 2018 and to the amortization charge for the year.

Other relevant movements in the cost of contracted concessional assets are an increase for the acquisition of new concessional assets (see Note 5), the impact of the application of IFRS 16, ´Leases´ from January 1, 2018, partially offset by a decrease for the payments received from Abengoa by Solana in March and December 2018 further to Abengoa´s obligation as EPC Contractor.

Amortization and impairment amount includes the recognition of impairment provisions based on expected credit losses due to the application of IFRS 9, ´Financial instruments´ from January 1, 2018.

The decrease included in “Reclassification and other movements” was mainly due to the reclassification from the long to the short term of the current portion of the contracted concessional financial assets.

Considering the lower production compared with the run-rate production expected for Solana due to the technical issues experienced since COD in the asset and the uncertainty around level of production in the future, the Company identified a triggering event of impairment during the year 2018 in compliance with IAS 36, Impairment of Assets. As a result, an impairment test has been performed resulting in the recording of an impairment loss of $42,721 thousand as of December 31, 2018.

The impairment had been recorded within the line “Depreciation, amortization and impairment charges” of the consolidated income statement, decreasing the amount of “Contracted concessional assets” pertaining to the Renewable energy sector and North America geography. The recoverable amount considered was the value in use and amounted to $1,141,209 thousand for Solana, as of December 31, 2018. A specific discount rate had been used in each year considering changes in the debt/equity leverage ratio over the useful life of this project, resulting in the use of a range of discount rates between 5.0% and 5.8%.

An adverse change in the key assumptions which are individually used for the valuation could lead to future impairment recognition; specifically, a 5% decrease in generation over the entire remaining useful life (PPA) of the project would have generated an additional impairment of approximately $72 million. An increase of 50 basis points in the discount rate would have lead to an additional impairment of approximately $50 million.

In addition, the Company identified a triggering event of impairment for Mojave as a result of the negative credit outlooks of Pacific Gas and Electric Company, the offtaker of the plant, as of December 31, 2018. This project was within the Renewable energy sector and North America geography. The Company therefore performed an impairment test as of December 31, 2018, which resulted in the recoverable amount (value in use) exceeding the carrying amount of the asset by 10%. To determine the value in use of the asset, a specific discount rate had been used in each year considering changes in the debt/equity leverage ratio over the useful life of this project, resulting in the use of a range of discount rates between 4.6% and 5.8%.

An adverse change in the key assumptions which are individually used for the valuation would not have lead to future impairment recognition; neither in case of a 5% decrease in generation over the entire remaining useful life (PPA) of the project nor in case of an increase of 50 basis points in the discount rate.

Income Tax, Analysis of deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred Tax Assets and Liabilities [Abstract]
Deferred tax assets	$ 147,966	$ 136,066	$ 165,136
Deferred tax liabilities	248,996	211,000	$ 186,583
Net Tax Credits For Tax Losses Carryforwards [Member]
Deferred Tax Assets and Liabilities [Abstract]
Deferred tax assets	61,693	55,835
Temporary Differences on Derivatives Financial Instruments [Member]
Deferred Tax Assets and Liabilities [Abstract]
Deferred tax assets	86,096	79,865
Temporary Differences on Derivatives Financial Instruments [Member] \| Solar Plants in Spain [Member]
Deferred Tax Assets and Liabilities [Abstract]
Deferred tax assets	61,000
Temporary Differences on Derivatives Financial Instruments [Member] \| ACT [Member]
Deferred Tax Assets and Liabilities [Abstract]
Deferred tax assets	17,000
Temporary Differences Tax/Book Amortization [Member]
Deferred Tax Assets and Liabilities [Abstract]
Deferred tax liabilities	145,166	126,792
Other Temporary Differences Tax/Book Value of Contracted Concessional Assets [Member]
Deferred Tax Assets and Liabilities [Abstract]
Deferred tax liabilities	83,481	73,793
Other Temporary Differences [Member]
Deferred Tax Assets and Liabilities [Abstract]
Deferred tax assets	177	366
Deferred tax liabilities	20,349	10,415
Temporary Difference for Accelerated Tax Amortization [Member] \| Solar Plants in Spain [Member]
Deferred Tax Assets and Liabilities [Abstract]
Deferred tax liabilities	100,000	74,000
Temporary Difference for Accelerated Tax Amortization [Member] \| Solana and Mojave [Member]
Deferred Tax Assets and Liabilities [Abstract]
Deferred tax liabilities	$ 45,000	$ 55,000

Corporate debt, Movement in corporate debt, split between cash and non-cash items (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Corporate debt [Abstract]
Beginning balance	$ 684,073
Cash flow	6,620
Non-cash changes	33,098
Ending balance	$ 723,791

Corporate debt

12 Months Ended

Dec. 31, 2019

Corporate debt [Abstract]

Investments carried under the equity method [Abstract]

Note 14.- Corporate debt

The breakdown of the corporate debt as of December 31, 2019 and 2018 is as follows:

	Balance as of December 31,
Non-current	2019		2018
Credit Facilities with financial entities		695,085		415,168
Total Non-current		695,085		415,168

	Balance as of December 31,
Current	2019		2018
Credit Facilities with financial entities		789		11,580
Notes and Bonds		27,917		257,325
Total Current		28,706		268,905

On November 17, 2014, the Company issued the Senior Notes due 2019 in an aggregate principal amount of $255,000 thousand (the “2019 Notes”). The 2019 Notes accrued annual interest of 7.00% payable semi-annually beginning on May 15, 2015. The 2019 Notes were fully repaid on May 31, 2019.

On February 10, 2017, the Company issued Senior Notes due 2022, 2023, 2024 (the “Note Issuance Facility”), in an aggregate principal amount of €275,000 thousand. The 2022 to 2024 Notes accrue annual interest, equal to the sum of (i) EURIBOR plus (ii) 4.90%, as determined by the Agent. Interest on the Notes are payable in cash quarterly in arrears on each interest payment date. The Company pays interest to the holders of record on each interest payment date. The interest rate on the Note Issuance Facility is fully hedged by two interest rate swaps contracted with Jefferies Financial Services, Inc. with effective date March 31, 2017 and maturity date December 31, 2022, resulting in the Company paying a net fixed interest rate of 5.5% on the Note Issuance Facility. Changes in fair value of these interest rate swaps have been recorded in the consolidated income statement. The Note Issuance Facility is a € denominated liability for which the Company applies net investment hedge accounting. When converted to US$ at US$/€ closing exchange rate, it contributes to reduce the impact in translation difference reserves generated in the equity of these consolidated financial statements by the conversion of the net assets of the Spanish solar assets into US$.

On July 20, 2017, the Company signed a credit facility (the “2017 Credit Facility”) for up to €10 million, approximately $11.2 million, which is available in euros or U.S. dollars and was fully drawn down in 2017. Amounts drawn down accrue interest at a rate per year equal to EURIBOR plus 2.25% or LIBOR plus 2.25%, depending on the currency. On December 13, 2019, the terms of the credit facility have been modified and the maturity date has been extended from July 4, 2020 to December 13, 2021 and the new interest rate per year set is EURIBOR plus 2% or LIBOR plus 2%, depending on the currency. As of December 31, 2019, the Company had drawn down an amount of $10.1 million.

On May 10, 2018, the Company entered into a $215 million revolving credit facility (the “New Revolving Credit Facility”) with Royal Bank of Canada, as administrative agent and Royal Bank of Canada and Canadian Imperial Bank of Commerce, as issuers of letters of credit. Amounts drawn down accrue interest at a rate per year equal to (A) for Eurodollar rate loans, LIBOR plus a percentage determined by reference to the leverage ratio of the Company, ranging between 1.60% and 2.25% and (B) for base rate loans, the highest of (i) the rate per annum equal to the weighted average of the rates on overnight U.S. Federal funds transactions with members of the U.S. Federal Reserve System arranged by U.S. Federal funds brokers on such day plus ½ of 1.00%, (ii) the U.S. prime rate and (iii) LIBOR plus 1.00%, in any case, plus a percentage determined by reference to the leverage ratio of the Company, ranging between 0.60% and 1.00%. Letters of credit may be issued using up to $70 million of the Revolving Credit Facility. During the month of January 2019, the amount of the Revolving Credit Facility increased from $215 million to $300 million. On August 2, 2019, the amount of the Revolving Credit Facility increased from $300 million to $425 million and the maturity was extended to December 31, 2022 for $387.5 million, while the remaining $37.5 million matures on December 31, 2021. On December 31, 2019, the Company had drawn down a total amount of $81.1 million (net of debt issuance cost).

On April 30, 2019, the Company entered into a senior unsecured note facility with a group of funds managed by Westbourne Capital as purchasers of the notes issued thereunder for a total amount of €268 million (the “2019 Note Issuance Facility”). The principal amount was issued in May 24, 2019 and was used to prepay and subsequently cancel in full the aforementioned 2019 Notes and for general corporate purposes. The 2019 Note Issuance Facility includes an upfront fee of 2% paid on drawdown and its maturity date is April 30, 2025. Interest accrue at a rate per annum equal to the sum of 3-month EURIBOR plus 4.50%. The interest rate on the 2019 Note Issuance Facility is fully hedged by an interest rate swap with effective date June 28, 2019 and maturity date June 30, 2022, resulting in the Company paying a net fixed interest rate of 4.2%. The 2019 Note Issuance Facility provides that the Company may capitalize interest on the notes issued thereunder for a period of up to two years from closing at the Company´s discretion, subject to certain conditions.

On October 8, 2019, the Company filed a euro commercial paper program (the “Commercial Paper”) with the Alternative Fixed Income Market (MARF) in Spain. The program allows Atlantica to issue short term notes over the next twelve months for up to €50 million, with such notes having a tenor of up to two years. As of the date of this report the Company has issued €25 million under the program at an average cost of 0.66%.

The repayment schedule for the corporate debt as of December 31, 2019 is as follows:

	2020		2021		2022		2023		2024		Subsequent years		Total
New Revolving Credit Facility		701		-		81,164		-		-		-		81,865
Note Issuance Facility		84		-		101,317		100,513		100,413		-		302,327
2017 Credit Facility		4		10,085		-		-		-		-		10,089
2019 Notes Issuance Facility		-		7,938		-		-		-		293,655		301,593
Commercial Paper		27,917		-		-		-		-		-		27,917
Total		28,706		18,023		182,481		100,513		100,413		293,655		723,791

The following table details the movement in Corporate debt for the year 2019, split between cash and non-cash items:

		January 1, 2019				Cash Flow				Non-cash changes				December 31, 2019
Corporate debt			684,073				6,620				33,098				723,791

The non-cash changes primarily relate to interests accrued and to currency translation differences.

Income Tax, Effective income tax rate reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax [Abstract]
Consolidated income / (loss) before taxes	$ 105,558	$ 97,928	$ 14,950
Average statutory tax rate	25.00%	30.00%	30.00%
Corporate income tax at average statutory tax rate	$ (26,390)	$ (29,378)	$ (4,485)
Income tax of associates, net	1,808	1,639	1,765
Differences in foreign tax rates	(7,076)	752	3,304
Permanent differences	11,220	5,385	19,324
Incentives, deductions, and unrecognized tax losses carryforwards	(14,161)	(22,972)	(20,994)
Change in corporate income tax	0	0	(19,331)
U.S Internal Revenue Code Section 382	0	0	(96,328)
Other non-taxable income/(expense)	3,649	1,915	(3,092)
Total income tax benefit/(expense)	$ (30,950)	$ (42,659)	$ (119,837)
Corporate tax rate	21.00%		35.00%
Limitation imposed on net interest expense, that exceeds EBITDA	30.00%
Limitation imposed on net interest expense, that exceeds EBIT	30.00%
Limitation imposed on NOL arising in tax years on taxable income	80.00%
NOL applicable carry forward period	20 years
BEAT applies on entity that exceeds taxable income percentage	10.00%

Investments carried under the equity method

12 Months Ended

Dec. 31, 2019

Financial instruments by category [Abstract]

Note 7.- Investments carried under the equity method

The table below shows the breakdown and the movement of the investments held in associates for 2019 and 2018:

Investments in associates	2019			2018
Initial balance		53,419			55,784
Share of (loss)/profit		7,457			5,231
Dividend distribution		(30,528	)		(4,463	)
Equity distribution		(6,252	)		(122	)
Change in the scope of the consolidated financial statements (Note 5)		113,897			-
Others (incl. currency translation differences)		1,932			(3,011	)
Final balance		139,925			53,419

During 2019, investments carried under the equity method increase primarily due to the acquisition of Amherst Island ($97.2 million) and Monterrey ($16.6 million) (see Note 5). The increase has been partially offset by the dividend distributions of Amherst Island Partnership ($25.9 million) and Geida Tlemcen S.L.($4.6 million).

The tables below show a breakdown of stand-alone amounts of assets, revenues and profit and loss as well as other information of interest for the years 2019 and 2018 for the associated companies:

Company	% Shares		Non- current assets		Current assets		Non- current liabilities		Current liabilities		Revenue		Operating profit/ (loss)			Net profit/ (loss)			Investment under the equity method
Evacuación Valdecaballeros, S.L.		57.16		18,584		1,268		13,145		783		694		(277	)		(303	)		2,348
Myah Bahr Honaine, S.P.A.(*)		25.50		184,332		63,148		71,614		13,562		51,504		33,372			30,186			45,222
Pectonex, R.F. Proprietary Limited		50.00		3,074		-		-		2		-		(190	)		(190	)		1,391
Evacuación Villanueva del Rey, S.L		40.02		2,946		107		1,841		225		-		47			-			-
Ca Ku A1, S.A.P.I de CV (PTS)		5.00		486,179		55,423		-		543,077		-		(39	)		(495	)		-
Pemcorp SAPI de CV (**)		30.00		125,301		72,669		197,324		5,090		32,302		5,737			(10.073	)		17,179
ABY Infraestructuras S.L.U.		20.00		-		59		-		-		-		(104	)		(101	)		11
Windlectric Inc (***)		30.00		319,041		10,655		232,938		22,424		24,867		11,125			(6,537	)		73,693
Other renewable energy joint ventures (****)		50.00		47		146		6		70		-		(46	)		(46	)		81
As of December 31, 2019																				139,925

Company	% Shares		Non- current assets		Current assets		Non- current liabilities		Current liabilities		Revenue		Operating profit/ (loss)			Net profit/ (loss)			Investment under the equity method
Evacuación Valdecaballeros, S.L.		57.16		19,679		820		381		420		320		(668	)		(693	)		8,773
Myah Bahr Honaine, S.P.A.(*)		25.50		186,484		63,224		81,942		13,184		50,118		25,778			22,193			43,161
Pectonex, R.F. Proprietary Limited		50.00		3,186		-		-		2		-		(209	)		(209	)		1,485
Evacuación Villanueva del Rey, S.L		40.02		3,190		257		2,021		383		-		44			-			-
Ca Ku A1, S.A.P.I de CV (PTS)		5.00		284,375		10,951		-		295,865		-		3			(624	)		-
As of December 31, 2018																				53,419

The Company has no control over Evacuación Valdecaballeros, S.L. as all relevant decisions of this company require the approval of a minimum of shareholders accounting for more than 75% of the shares.

None of the associated companies referred to above is a listed company.

(*) 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 financial statements. Share of profit of Myah Bahr Honaine S.P.A. included in these consolidated financial statements amounts to $7,697 thousand in 2019 and $5,659 thousand in 2018.

(**) Pemcorp SAPI de CV, Monterrey´s project entity, is 100% owned by Arroyo Netherlands II B.V. which is accounted for under the equity method in these consolidated financial statements (Note 5). Arroyo Netherlands II B.V. is 30% owned by Atlantica. Share of profit of Pemcorp SAPI de CV included in these consolidated financial statements amounts to $521 thousand in 2019.

(***) Windlectric Inc., the project entity, is owned 100% by Amherst Island Partnership which is accounted for under the equity method (Note 5).

(****) Other renewable energy joint ventures correspond to investments made in the following entities located in Colombia: AC Renovables Sol 1 SAS Esp, PA Renovables Sol 1 SAS Esp, SJ Renovables Sun 1 SAS Esp and SJ Renovables Wind 1 SAS Esp.

Equity (Details)											1 Months Ended	12 Months Ended
Equity (Details)	Dec. 13, 2019 USD ($)	Nov. 05, 2019 $ / shares	Sep. 13, 2019 USD ($)	Aug. 02, 2019 $ / shares	Jun. 14, 2019 USD ($)	May 31, 2019 shares	May 22, 2019 USD ($) shares	May 07, 2019 $ / shares	Mar. 22, 2019 USD ($)	Feb. 26, 2019 $ / shares	Nov. 30, 2017	Dec. 31, 2019 USD ($) Vote $ / shares shares	Dec. 31, 2018 USD ($)
Equity [Abstract]
Share capital												$ 10,160,000	$ 10,022,000
Shares outstanding (in shares) \| shares												101,601,666
Nominal value per share (in dollars per share) \| $ / shares												$ 0.10
Voting right per share \| Vote												1
Treasury shares held (in shares) \| shares												0
Increase (decrease) in treasury shares (in shares) \| shares												0
Fourth Quarter [Member]
Equity [Abstract]
Dividend declaration date												Feb. 26, 2019
Dividend paid date												Mar. 22, 2019
Dividend declared and paid (in dollars per share) \| $ / shares										$ 0.37
Dividends paid									$ 37,100,000
First Quarter [Member]
Equity [Abstract]
Dividend declaration date												May 07, 2019
Dividend paid date												Jun. 14, 2019
Dividend declared and paid (in dollars per share) \| $ / shares								$ 0.39
Dividends paid					$ 39,600,000
Second Quarter [Member]
Equity [Abstract]
Dividend declaration date												Aug. 02, 2019
Dividend paid date												Sep. 13, 2019
Dividend declared and paid (in dollars per share) \| $ / shares				$ 0.40
Dividends paid			$ 40,600,000
Third Quarter [Member]
Equity [Abstract]
Dividend declaration date												Nov. 05, 2019
Dividend paid date												Dec. 13, 2019
Dividend declared and paid (in dollars per share) \| $ / shares		$ 0.41
Dividends paid	$ 41,700,000
Abengoa [Member]
Equity [Abstract]
Ownership interest													41.47%
Algonquin [Member]
Equity [Abstract]
Share capital							$ 30,000,000
Shares outstanding (in shares) \| shares						2,000,000	1,384,402
Ownership interest						44.20%	42.27%				25.00%	44.20%

Nature of the business, Description (Details)					1 Months Ended	12 Months Ended
Nature of the business, Description (Details)	May 31, 2019	May 22, 2019	Nov. 27, 2018	Mar. 09, 2018	Nov. 30, 2017	Dec. 31, 2019
Non- Algonquin [Member]
Nature of the business [Abstract]
Proportion of voting rights held by non-controlling interests						7.00%
Algonquin [Member]
Nature of the business [Abstract]
Ownership interest	44.20%	42.27%			25.00%	44.20%
Percentage of non-controlling interests			16.47%	25.00%
Proportion of voting rights held by non-controlling interests						41.50%
Algonquin [Member] \| Top of Range [Member]
Nature of the business [Abstract]
Ownership interest						48.50%

Financial instruments by category (Tables)

12 Months Ended

Dec. 31, 2019

Financial assets

	Notes		Amortized cost		Fair Value Through Other Comprehensive Income		Fair value Through profit or loss		Balance as of December 31, 2019
Derivative assets		9		-		-		5,230		5,230
Investment in Ten West Link				-		9,874		-		9,874
Investment in Rioglass				-		-		7,000		7,000
Other financial investments				288,060		-		-		288,060
Trade and other receivables		11		317,568		-		-		317,568
Cash and cash equivalents		12		562,795		-		-		562,795
Total financial assets				1,168,423		9,874		12,230		1,190,527

	Notes		Amortized cost		Fair Value Through Other Comprehensive Income		Fair value Through profit or loss		Balance as of December 31, 2018
Derivative assets		9		-		-		13,153		13,153
Investment in Ten West Link				-		6,034		-		6,034
Other financial investments				274,318		-		-		274,318
Trade and other receivables		11		236,395		-		-		236,395
Cash and cash equivalents		12		631,542		-		-		631,542
Total financial assets				1,142,255		6,034		13,153		1,161,441

Financial liabilities

Corporate debt	14	723,791	-	-	723,791
Project debt	15	4,852,348	-	-	4,852,348
Related parties – non-current	10	17,115	-	-	17,115
Trade and other current liabilities	17	128,062	-	-	128,062
Derivative liabilities	9	-	-	298,744	298,744
Total financial liabilities		5,721,316	-	298,744	6,020,060

Corporate debt	14	684,073	-	-	684,073
Project debt	15	5,091,114	-	-	5,091,114
Related parties – non-current	10	33,675	-	-	33,675
Trade and other current liabilities	17	192,033	-	-	192,033
Derivative liabilities	9	-	-	279,152	279,152
Total financial liabilities		6,000,895	-	279,152	6,280,047

Significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2019

Significant accounting policies [Abstract]

Discount rates and growth rates used to calculated recoverable amount for CGUs by segment

Accordingly, the following table provides a summary of the discount rates used (WACC) and growth rates to calculate the recoverable amount for CGUs with the operating segment to which it pertains:

Operating segment	Discount rate			Growth rate
EMEA		4% - 6	%		0	%
North America		4% - 5	%		0	%
South America		5% - 7	%		0	%

Project debt, Movement in project debt, split between cash and non-cash items (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Project debt [Abstract]
Beginning balance	$ 5,091,114
Cash flow	(531,726)
Non-cash changes	292,960
Ending balance	$ 4,852,348

Schedule I, Condensed Financial Statements, Notes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Profit/(Loss) Reconciliation [Abstract]
Profit/(loss) for the period	$ 62,135	$ 41,596	$ (111,804)
Additional profit/(loss) if subsidiaries had been accounted for using the equity method of accounting as opposed to cost method	7,457	5,231	5,351
Equity Reconciliation [Abstract]
Shareholders equity	1,714,856	1,756,112	1,895,453	$ 1,959,111
Parent [Member]
Basis of Presentation [Abstract]
Cash dividend receivable from subsidiaries	0	0	10,383
Profit/(Loss) Reconciliation [Abstract]
Profit/(loss) for the period	(25,992)	(184,443)	52,565
Additional profit/(loss) if subsidiaries had been accounted for using the equity method of accounting as opposed to cost method	88,127	226,039	(164,369)
Equity Reconciliation [Abstract]
Shareholders equity	1,613,514	1,769,146	2,087,059
Additional shareholders equity if subsidiaries had been accounted for using the equity method of accounting as opposed to cost method	$ 101,342	$ (13,034)	$ (191,606)

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

Schedule I, Condensed Financial Statements, of condensed other comprehensive income statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other comprehensive income statement [Abstract]
Profit/(loss) for the year	$ 74,608	$ 55,269	$ (104,887)
Items that may be subject to transfer to income statement [Abstract]
Change in fair value of cash flow hedges	(81,713)	(40,220)	(28,535)
Net income/(expenses) recognized directly in equity	(83,909)	(91,653)	97,815
Cash flow hedges	55,765	67,519	70,953
Transfer to income statement	41,824	50,639	53,215
Other comprehensive income/(loss)	(42,085)	(41,014)	151,030
Total comprehensive income/(loss) for the year	32,523	14,255	46,143
Parent Company [Member]
Other comprehensive income statement [Abstract]
Profit/(loss) for the year	(25,992)	(184,443)	52,565
Items that may be subject to transfer to income statement [Abstract]
Change in fair value of cash flow hedges	(457)	147	(13,666)
Net income/(expenses) recognized directly in equity	(457)	147	(13,666)
Cash flow hedges	(180)	(328)	(32)
Transfer to income statement	(180)	(328)	(32)
Other comprehensive income/(loss)	(637)	(181)	(13,698)
Total comprehensive income/(loss) for the year	$ (26,629)	$ (184,624)	$ 38,867

Related parties (Tables)

12 Months Ended

Dec. 31, 2019

Related parties [Abstract]

Related party receivables and payables

Details of balances with related parties as of December 31, 2019 and 2018, which therefore do not include balances with Abengoa, are as follows:

	Balance as of December 31,
	2019		2018

Credit receivables (current)		13,350		5,328
Total current receivables with related parties		13,350		5,328

Credit receivables (non-current)		21,355		-
Total non-current receivables with related parties		21,355		-

Credit payables (current)		23,979		19,352
Total current payables with related parties		23,979		19,352

Credit payables (non-current)		17,115		33,675
Total non-current payables with related parties		17,115		33,675

Related party transactions

The transactions carried out by entities included in these consolidated financial statements with related parties not included in the consolidation perimeter of Atlantica, for the years ended December 31, 2019, 2018 and 2017 have been as follows:

	For the twelve-month period ended December 31,
	2019			2018			2017
Services rendered		-			-			3,495
Services received		-			(101,582	)		(114,416	)
Financial income		978			3,721			74
Financial expenses		(195	)		(398	)		(1,154	)

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2019 shares
Cover [Abstract]
Entity Registrant Name	Atlantica Yield plc
Entity Central Index Key	0001601072
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding	101,601,666
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Document Transition Report	false
Document Annual Report	true
Document Shell Company Report	false

Schedule I, Condensed Financial Statements

12 Months Ended

Dec. 31, 2019

Schedule I, Condensed Financial Statements [Abstract]

Schedule I, Condensed Financial Statements

Appendices

Appendix V (Schedule I)

Condensed Financial Statements of Atlantica Yield plc

Condensed statements of financial position of Atlantica Yield Plc.

– Amounts in thousands of usd –

	As of December 31,
	2019			2018
Assets
Investment in affiliates		1,909,066			1,883,964
Loans to affiliates		500,871			605,778
Cash and cash equivalents		66,013			106,734
Other assets		61,161			8,458
Total assets		2,537,111			2,604,934
Liabilities and Equity
Borrowings		695,874			426,748
Notes and bonds		27,917			257,325
Amounts owed to affiliates		192,601			138,222
Other Liabilities		7,205			13,493
Total Liabilities		923,597			835,788
Common Stock		10,160			10,022
Additional paid-in capital		1,011,743			1,481,881
Distributable reserves		889,056			548,059
Other reserves		(637	)		-
Retained earnings		(296,808	)		(270,816	)
Total shareholders’s equity		1,613,514			1,769,146
Total liabilities and equities		2,537,111			2,604,934

Condensed income statements of Atlantica Yield, Plc.

– Amounts in thousands of usd –

	For the year ended December 31,
	2019			2018			2017
Income from
Services		49,622			54,743			123,944
Other financial income		12,772			4,334			17,419
Total income		62,394			59,077			141,363
Expenses
Other operating expenses		(26,120	)		(189,116	)		(21,173	)
Interests Credit entities		(46,781	)		(42,321	)		(46,292	)
Other financial expenses		(15,485	)		(12,083	)		(21,333	)
Total expenses		(88,386	)		(243,520	)		(88,798	)
Income/(Loss) before income taxes		(25,992	)		(184,443	)		52,565
Income tax benefits/(expense)		-			-			-
Profit/(Loss) for the year		(25,992	)		(184,443	)		52,565

Other comprehensive income statement of Atlantica Yield, Plc.

– Amounts in thousands of usd –

	For the year ended December 31,
	2019			2018			2017

Profit/(loss) for the year		(25,992	)		(184,443	)		52,565
Items that may be subject to transfer to income statement
Change in fair value of cash flow hedges		(457	)		147			(13,666	)
Net income/(expenses) recognized directly in equity		(457	)		147			(13,666	)
Cash flow hedges		(180	)		(328	)		(32	)
Transfer to income statement		(180	)		(328	)		(32	)
Other comprehensive income/(loss) for the year		(637	)		(181	)		(13,698	)
Total comprehensive income/(loss) for the year		(26,629	)		(184,624	)		38,867

Condensed cash flow statements of Atlantica Yield, Plc.

– Amounts in thousands of usd –

	For the year ended December 31,
	2019			2018			2017
Cash Flow from operating activities		(48,502	)		(30,571	)		34,937
Cash Flow—investing activities
Decrease (increase) in investment and advance to affiliates		91,181			66,069			151,033

Net decrease (increase) in other assets		-			-			-

Cash (used for)/provided by investing activities		91,181			66,069			151,033
Cash Flow—financing activities
Net increase/(decrease) in borrowings and other liabilities		45,601			56,000			(64,754	)

Dividend paid to shareowner		(159,002	)		(133,289	)		(94,845	)

Capital increase and other		30,000			-			-

Cash from financing activities		(83,401	)		(77,289	)		(159,599	)

Increase (decrease) in cash and cash equivalents during the year		(40,721	)		(41,791	)		26,371

Cash and cash equivalent at the beginning of the year		106,734			148,525			122,154

Cash and cash equivalent at the end of the year		66,013			106,734			148,525

Notes to the Condensed Financial Statements

Schedule I has been provided pursuant to the requirements of Rule 12- 04(a) of Regulation S-X, of the US Securities and Exchange Commission (SEC) which require condensed financial information as to the financial position, change in financial position, results of operations of Atlantica Yield plc, other comprehensive income statement and cash flow statement as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with International Financial Reporting Standards have been condensed or omitted. The footnote disclosures contain supplemental information only and, as such, these statements should be read in conjunction with the notes to the accompanying consolidated financial statements.

Basis of Presentation.

The presentation of Atlantica Yield plc stands alone condensed financial statement has been prepared using the same accounting policies as set out in the accompanying consolidated financial statements except that, the Company records its investment in subsidiaries under the cost method of accounting and that financial income from credits to companies in the group are recorded under Income from services, given that the company is a holding and this type of service is part of its primary activity. Such investments are presented on the statements of financial position as “Investment in and loans to affiliates” at cost less any identified impairment loss.

As of December 31, 2019, 2018 and 2017 there were no material contingencies, significant provisions of long-term obligations, mandatory dividend or redemption requirements of redeemable stocks or guarantees of the Company, except for those which have been separately disclosed in the Consolidated Financial Statements, if any.

For the year ended December 31, 2019 and 2018, no cash dividend has been declared to the Company by its consolidated subsidiaries or associated. For the year ended December 2017, cash dividend of $10,383 thousand were declared to the Company by its consolidated subsidiaries or associates.

Reconciliation of the stand-alone to consolidated financial statements of Atlantica Yield Plc.

Profit/(Loss) Reconciliation	For the year ended December 31,
	2019			2018			2017
Stand-alone—IFRS profit/(loss) for the period		(25,992	)		(184,443	)		52,565
Additional profit/(loss) if subsidiaries had been accounted for using the equity method of accounting as opposed to cost method		88,127			226,039			(164,369	)
Consolidated IFRS profit/(loss) for the period attributable to Atlantica Yield plc		62,135			41,596			(111,804	)

Equity Reconciliation	As of December 31,
	2019		2018			2017

Stand-alone—IFRS shareholders equity		1,613,514		1,769,146			2,087,059
Additional shareholders equity if subsidiaries had been accounted for using the equity method of accounting as opposed to cost method		101,342		(13,034	)		(191,606	)
Consolidated IFRS shareholders equity		1,714,856		1,756,112			1,895,453

Equity

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Equity

Note 13.- Equity

As of December 31, 2019, the share capital of the Company amounts to $10,160,167 represented by 101,601,666 ordinary shares completely subscribed and disbursed with a nominal value of $0.10 each, all in the same class and series. Each share grants one voting right.

Algonquin completed in 2018 the acquisition from Abengoa of its entire stake in Atlantica, 41.47% of the total shares of the Company, becoming the largest shareholder of the Company. On May 22, 2019, the Company issued our additional 1,384,402 ordinary shares, which were fully subscribed by Algonquin for a total amount of $30,000,000, increasing the stake of Algonquin to 42.27%. Additionally, Algonquin purchased 2,000,000 ordinary shares on May 31, 2019, increasing its stake in Atlantica to 44.2%.

Atlantica´s parent company reserves as of December 31, 2019 are made up of share premium account and distributable reserves.

Retained earnings primarily include results attributable to Atlantica.

Non-controlling interests fully relate to interests held by JGC in Solacor 1 and Solacor 2, by Idae in Seville PV, by Itochu Corporation in Solaben 2 and Solaben 3, by Algerian Energy Company, SPA and Sacyr Agua S.L. in Skikda, by Industrial Development Corporation of South Africa (IDC) and Kaxu Community Trust in Kaxu and by Algonquin Power Co. in AYES Canada (refer to Note 1).

Additional information of subsidiaries including material Non-controlling interests as of December 31, 2019 and 2018, are disclosed in Appendix IV.

Dividends declared during the year 2019:

On February 26, 2019, the Board of Directors declared a dividend of $0.37 per share corresponding to the fourth quarter of 2018. The dividend was paid on March 22, 2019 for a total amount of $37.1 million

On May 7, 2019, the Board of Directors of the Company approved a dividend of $0.39 per share corresponding to the first quarter of 2019. The dividend was paid on June 14, 2019 for a total amount of $39.6 million.

On August 2, 2019, the Board of Directors of the Company approved a dividend of $0.40 per share corresponding to the second quarter of 2019. The dividend was paid on September 13, 2019 for a total amount of $40.6 million.

On November 5, 2019, the Board of Directors declared a dividend of $0.41 per share corresponding to the third quarter of 2019. The dividend was paid on December 13, 2019 for a total amount of $41.7 million.

In addition, as of December 31, 2019, there was no treasury stock and there have been no transactions with treasury stock during the period then ended.

Corporate debt, Breakdown of corporate debt (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Corporate debt [Abstract]
Total Non-current	$ 695,085	$ 415,168
Total Current	28,706	268,905
Credit Facilities with Financial Entities [Member]
Corporate debt [Abstract]
Total Non-current	695,085	415,168
Total Current	789	11,580
Notes and Bonds [Member]
Corporate debt [Abstract]
Total Current	$ 27,917	$ 257,325

Schedule I, Condensed Financial Statements, of condensed cash flow statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed cash flow statements [Abstract]
Cash Flow from operating activities	$ 363,581	$ 401,043	$ 385,623
Cash Flow-investing activities [Abstract]
B. Net cash (used in)/provided by investing activities	(118,211)	(14,860)	71,368
Cash Flow-financing activities [Abstract]
Dividend paid to shareowner	(159,002)	(133,289)	(94,845)
C. Net cash provided by/(used in) financing activities	(310,182)	(405,231)	(416,327)
Net increase/(decrease) in cash and cash equivalents	(64,812)	(19,048)	40,664
Cash and cash equivalents at beginning of the year	631,542	669,387	594,811
Cash and cash equivalents at the end of the year	562,795	631,542	669,387
Parent Company [Member]
Condensed cash flow statements [Abstract]
Cash Flow from operating activities	(48,502)	(30,571)	34,937
Cash Flow-investing activities [Abstract]
Decrease (increase) in investment and advance to affiliates	91,181	66,069	151,033
Net decrease (increase) in other assets	0	0	0
B. Net cash (used in)/provided by investing activities	91,181	66,069	151,033
Cash Flow-financing activities [Abstract]
Net increase/(decrease) in borrowings and other liabilities	45,601	56,000	(64,754)
Dividend paid to shareowner	(159,002)	(133,289)	(94,845)
Capital increase and other	30,000	0	0
C. Net cash provided by/(used in) financing activities	(83,401)	(77,289)	(159,599)
Net increase/(decrease) in cash and cash equivalents	(40,721)	(41,791)	26,371
Cash and cash equivalents at beginning of the year	106,734	148,525	122,154
Cash and cash equivalents at the end of the year	$ 66,013	$ 106,734	$ 148,525

Consolidated income statements - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Consolidated income statements [Abstract]
Revenue	$ 1,011,452	$ 1,043,822	$ 1,008,381
Other operating income	93,774	132,557	80,844
Employee benefit expenses	(32,246)	(15,130)	(18,854)
Depreciation, amortization, and impairment charges	(310,755)	(362,697)	(310,960)
Other operating expenses	(261,776)	(310,642)	(301,444)
Operating profit	500,449	487,910	457,967
Financial income	4,121	36,444	1,007
Financial expense	(407,990)	(425,019)	(463,717)
Net exchange differences	2,674	1,597	(4,092)
Other financial income/(expense), net	(1,153)	(8,235)	18,434
Financial expense, net	(402,348)	(395,213)	(448,368)
Share of profit/(loss) of associates carried under the equity method	7,457	5,231	5,351
Profit/(loss) before income tax	105,558	97,928	14,950
Income tax	(30,950)	(42,659)	(119,837)
Profit/(loss) for the year	74,608	55,269	(104,887)
Loss/(profit) attributable to non-controlling interests	(12,473)	(13,673)	(6,917)
Profit/(loss) for the year attributable to the Company	$ 62,135	$ 41,596	$ (111,804)
Weighted average number of ordinary shares outstanding (in shares)	101,063	100,217	100,217
Basic and diluted earnings per share (in dollars per share)	$ 0.61	$ 0.42	$ (1.12)

Consolidated cash flow statements (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Consolidated cash flows statements [Abstract]
Proceeds from investments in contracted concessional assets	$ 22.2	$ 72.6	$ 42.5

Investments carried under the equity method (Tables)

12 Months Ended

Dec. 31, 2019

Investments carried under the equity method [Abstract]

Investments in associates

The table below shows the breakdown and the movement of the investments held in associates for 2019 and 2018:

Investments in associates	2019			2018
Initial balance		53,419			55,784
Share of (loss)/profit		7,457			5,231
Dividend distribution		(30,528	)		(4,463	)
Equity distribution		(6,252	)		(122	)
Change in the scope of the consolidated financial statements (Note 5)		113,897			-
Others (incl. currency translation differences)		1,932			(3,011	)
Final balance		139,925			53,419

Stand-alone amounts for associated companies

The tables below show a breakdown of stand-alone amounts of assets, revenues and profit and loss as well as other information of interest for the years 2019 and 2018 for the associated companies:

Company	% Shares		Non- current assets		Current assets		Non- current liabilities		Current liabilities		Revenue		Operating profit/ (loss)			Net profit/ (loss)			Investment under the equity method
Evacuación Valdecaballeros, S.L.		57.16		18,584		1,268		13,145		783		694		(277	)		(303	)		2,348
Myah Bahr Honaine, S.P.A.(*)		25.50		184,332		63,148		71,614		13,562		51,504		33,372			30,186			45,222
Pectonex, R.F. Proprietary Limited		50.00		3,074		-		-		2		-		(190	)		(190	)		1,391
Evacuación Villanueva del Rey, S.L		40.02		2,946		107		1,841		225		-		47			-			-
Ca Ku A1, S.A.P.I de CV (PTS)		5.00		486,179		55,423		-		543,077		-		(39	)		(495	)		-
Pemcorp SAPI de CV (**)		30.00		125,301		72,669		197,324		5,090		32,302		5,737			(10.073	)		17,179
ABY Infraestructuras S.L.U.		20.00		-		59		-		-		-		(104	)		(101	)		11
Windlectric Inc (***)		30.00		319,041		10,655		232,938		22,424		24,867		11,125			(6,537	)		73,693
Other renewable energy joint ventures (****)		50.00		47		146		6		70		-		(46	)		(46	)		81
As of December 31, 2019																				139,925

Company	% Shares		Non- current assets		Current assets		Non- current liabilities		Current liabilities		Revenue		Operating profit/ (loss)			Net profit/ (loss)			Investment under the equity method
Evacuación Valdecaballeros, S.L.		57.16		19,679		820		381		420		320		(668	)		(693	)		8,773
Myah Bahr Honaine, S.P.A.(*)		25.50		186,484		63,224		81,942		13,184		50,118		25,778			22,193			43,161
Pectonex, R.F. Proprietary Limited		50.00		3,186		-		-		2		-		(209	)		(209	)		1,485
Evacuación Villanueva del Rey, S.L		40.02		3,190		257		2,021		383		-		44			-			-
Ca Ku A1, S.A.P.I de CV (PTS)		5.00		284,375		10,951		-		295,865		-		3			(624	)		-
As of December 31, 2018																				53,419

Income Tax

12 Months Ended

Dec. 31, 2019

Income Tax [Abstract]

Income Tax

Note 18.- Income Tax

All the companies of Atlantica file income taxes according to the tax regulations in force in each country on an individual basis or under consolidation tax regulations.

The consolidated income tax has been calculated as an aggregation of income tax expenses/income of each individual company. In order to calculate the taxable income of the consolidated entities individually, the accounting result is adjusted for temporary and permanent differences, recording the corresponding deferred tax assets and liabilities. At each consolidated income statement date, a current tax asset or liability is recorded, representing income taxes currently refundable or payable. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial statement and income tax purposes, as determined under enacted tax laws and rates.

Income tax payable is the result of applying the applicable tax rate in force to each tax-paying entity, in accordance with the tax laws in force in the country in which the entity is registered. Additionally, tax deductions and credits are available to certain entities, primarily relating to inter-company trades and tax treaties between various countries to prevent double taxation.

The Company offsets deferred tax assets and deferred tax liabilities in each entity where the latter has a legally enforceable right to set off current tax assets against current tax liabilities, and the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority.

As of December 31, 2019, and 2018, the analysis of deferred tax assets and deferred tax liabilities is as follows:

Deferred tax assets	Balance as of December 31,
Concept	2019		2018
Net tax credits for tax losses carryforwards		61,693		55,835
Temporary differences on derivatives financial instruments		86,096		79,865
Other temporary differences		177		366
Total deferred tax assets		147,966		136,066

Most of the net tax credits for tax losses carryforwards corresponds to Peru, South Africa and solar plants in Spain as of December 31, 2019.

Temporary differences for derivatives financial instruments are mainly due to ACT ($17 million) and solar plants in Spain ($61 million).

In relation to tax losses carryforwards and deductions pending to be used recorded as deferred tax assets, the entities evaluate their recoverability projecting forecasted taxable result for the upcoming years and taking into account their tax planning strategy. Deferred tax liabilities reversals are also considered in these projections, as well as any limitation established by tax regulations in force in each tax jurisdiction.

Deferred tax liabilities	Balance as of December 31,
Concept	2019		2018
Temporary differences tax/book amortization		145,166		126,792
Other temporary differences tax/book value of contracted concessional assets		83,481		73,793
Other temporary differences		20,349		10,415
Total deferred tax liabilities		248,996		211,000

As of December 31, 2019 and 2018, temporary differences as a result of accelerated tax amortization resulted for some entities in a net deferred tax liability position. These are primarily due to Solana and Mojave ($45 million in 2019 and $55 million in 2018) and solar plants in Spain ($100 million in 2019 and $74 million in 2018).

Other temporary differences between the tax and book value of contracted concessional assets, which resulted in a net deferred tax liability position relate primarily to ACT in both years.

The movements in deferred tax assets and liabilities during the years ended December 31, 2019 and 2018 were as follows:

Deferred tax assets	Amount
As of December 31, 2017		165,136
First application of IFRS 9 effective January 1, 2018		11,811
Increase/(decrease) through the consolidated income statement		(24,195	)
Increase/(decrease) through other consolidated comprehensive income (equity)		(10,685	)
Other movements		(6,001	)
As of December 31, 2018		136,066

Increase/(decrease) through the consolidated income statement		5,809
Increase/(decrease) through other consolidated comprehensive income (equity)		6,147
Other movements		(56	)
As of December 31, 2019		147,966

Deferred tax liabilities	Amount
As of December 31, 2017		186,583
First application of IFRS 9 effective January 1, 2018		8,849
Increase/(decrease) through the consolidated income statement		17,996
Change in the scope of the consolidated financial statements (Note 5)		590
Other movements		(3,018	)
As of December 31, 2018		211,000

Increase/(decrease) through the consolidated income statement		31,678
Change in the scope of the consolidated financial statements (Note 5)		2,539
Other movements		3,779
As of December 31, 2019		248,996

Details of income tax for the years ended December 31, 2019, 2018 and 2017 are as follows:

	For the twelve-month period ended December 31,
Item	2019			2018			2017
Current tax		(5,081	)		(468	)		(1,998	)
Deferred tax		(25,869	)		(42,191	)		(117,839	)
- relating to the origination and reversal of temporary differences		(25,869	)		(42,191	)		(98,508	)
- relating to changes in tax rates		-			-			(19,331	)
Total income tax benefit/(expense)		(30,950	)		(42,659	)		(119,837	)

	For the year ended December 31,
Concept	2019			2018			2017
Consolidated income / (loss) before taxes		105,558			97,928			14,950
Average statutory tax rate		25	%		30	%		30	%
Corporate income tax at average statutory tax rate		(26,390	)		(29,378	)		(4,485	)
Income tax of associates, net		1,808			1,639			1,765
Differences in foreign tax rates		(7,076	)		752			3,304
Permanent differences		11,220			5,385			19,324
Incentives, deductions, and unrecognized tax losses carryforwards		(14,161	)		(22,972	)		(20,994	)
Change in corporate income tax		-			-			(19,331	)
U.S. Internal Revenue Code Section 382		-			-			(96,328	)
Other non-taxable income/(expense)		3,649			1,915			(3,092	)
Corporate income tax		(30,950	)		(42,659	)		(119,837	)

The average statutory tax rate used by the Company changed in 2019 considering some changes in the statutory tax rate of some geographies over the past years.

Permanent differences in 2019, 2018 and 2017 are mainly due to ACT (Mexico).

The main implications derived from the Tax Cuts and Jobs Act enacted in December 2017 in the U.S. entities are:

A reduction of the Federal income tax rate from 35% to 21%, effective since January 1, 2018 which effect on the deferred tax assets and liabilities resulted in a $19 million loss in the year 2017;

A limitation of the deduction for net interest expense of all businesses in the U.S. The new limitation is imposed on net interest expense that exceeds 30% of EBITDA from 2018 to 2021, and 30% of EBIT from 2022 onwards. Interests disallowed would be deducted in the future in the event that those limits are not exceeded. After having considered the impacts of Section 382, the Company does not expect significant negative effects from this net interest expense limitation;

NOLs arising in tax years beginning after 2017 would be limited to 80% of taxable income. For new NOLs recognized after 2017, an indefinite carryforward would be allowed. The limitation of 80% is not applicable for NOLs generated before 2018. For existing NOLs before 2018, a carryforward of 20 years is still applicable. The new limitation does not trigger adverse tax effects to the U.S. subsidiaries of the Company considering the amount of NOLs to be generated in upcoming years and the projected amount of taxable income of these entities after having considered the impacts of Section 382;

Base erosion anti-abuse tax (BEAT): The BEAT applies to certain U.S. corporations that make relevant deductible payments to foreign affiliates. The excess of 10% of a corporation’s taxable income increased by those payments to foreign related parties over its regular tax liability, will be the base erosion tax due. BEAT provisions do not trigger adverse tax consequences for the U.S. subsidiaries of the Company considering the amount of payments made to foreign affiliates for management and support services;

Potential tax erosion in the U.S.: The Company does not expect to have material adverse tax consequences in the U.S. subsidiaries as a result of the measures previously described.

Nature of the business (Tables)

12 Months Ended

Dec. 31, 2019

Overview of concessional assets

The following table provides an overview of the main concessional assets the Company owned or had an interest in as of December 31, 2019:

Assets	Type	Ownership	Location	Currency⁽⁸⁾	Capacity (Gross)	Counterparty Credit Ratings⁽⁹⁾	COD*	Contract Years Left⁽¹³⁾

Solana	Renewable (Solar)	100% Class B⁽¹⁾	Arizona (USA)	USD	280 MW	A-/A2/A-	2013	24

Mojave	Renewable (Solar)	100%	California (USA)	USD	280 MW	D/WR/WD	2014	20

Solaben 2 & 3	Renewable (Solar)	70%⁽²⁾	Spain	Euro	2x50 MW	A/Baa1/A-	2012	18/17

Solacor 1 & 2	Renewable (Solar)	87%⁽³⁾	Spain	Euro	2x50 MW	A/Baa1/A-	2012	17/17

PS10/PS20	Renewable (Solar)	100%	Spain	Euro	31 MW	A/Baa1/A-	2007& 2009	12/14

Helioenergy 1 & 2	Renewable (Solar)	100%	Spain	Euro	2x50 MW	A/Baa1/A-	2011	17/17

Helios 1 & 2	Renewable (Solar)	100%	Spain	Euro	2x50 MW	A/Baa1/A-	2012	18/18

Solnova 1, 3 & 4	Renewable (Solar)	100%	Spain	Euro	3x50 MW	A/Baa1/A-	2010	15/15/16

Solaben 1 & 6	Renewable (Solar)	100%	Spain	Euro	2x50 MW	A/Baa1/A-	2013	19/19

Kaxu	Renewable (Solar)	51%⁽⁴⁾	South Africa	Rand	100 MW	BB/Baa3/ BB+⁽¹⁰⁾	2015	15

Palmatir	Renewable (Wind)	100%	Uruguay	USD	50 MW	BBB/Baa2/BBB-⁽¹¹⁾	2014	14

Cadonal	Renewable (Wind)	100%	Uruguay	USD	50 MW	BBB/Baa2/BBB-⁽¹¹⁾	2014	15

ACT	Efficient natural gas	100%	Mexico	USD	300 MW	BBB+/ Baa3/BB+	2013	13


Monterrey	Efficient natural gas	30%	Mexico	USD	142 MW	Not rated	2018	19

ATN ⁽¹²⁾	Transmission line	100%	Peru	USD	379 miles	BBB+/A3/BBB+	2011	21

ATS	Transmission line	100%	Peru	USD	569 miles	BBB+/A3/BBB+	2014	24

ATN 2	Transmission line	100%	Peru	USD	81 miles	Not rated	2015	13

Quadra 1	Transmission line	100%	Chile	USD	49 miles	Not rated	2014	15

Quadra 2	Transmission line	100%	Chile	USD	32 miles	Not rated	2014	15

Palmucho	Transmission line	100%	Chile	USD	6 miles	BBB+/Baa2/ BBB+	2007	18

Chile TL3	Transmission line	100%	Chile	USD	50 miles	A+/A1/A	1993	Regulated

Skikda	Water	34.2%(5)	Algeria	USD	3.5 M ft3/day	Not rated	2009	14

Honaine	Water	25.5%(6)	Algeria	USD	7 M ft3/ day	Not rated	2012	18

Seville PV	Renewable (Solar)	80%(7)	Spain	Euro	1 MW	A/Baa1/A-	2006	16

Melowind	Renewable (Wind)	100%	Uruguay	USD	50MW	BBB/Baa2/BBB-	2015	16

Mini-Hydro	Renewable (Hydraulic)	100%	Peru	USD	4 MW	BBB+/A3/BBB+	2012	13

(1)	On September 30, 2013, Liberty Interactive Corporation agreed to invest $300 million in Class A shares of ASO Holdings Company LLC, the holding company of Solana, in exchange for a share of the dividends and the taxable losses generated by Solana.

(2)	Itochu Corporation, a Japanese trading company, holds 30% of the shares in each of Solaben 2 and Solaben 3.

(3)	JGC, a Japanese engineering company, holds 13% of the shares in each of Solacor 1 and Solacor 2.

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

(5)	Algerian Energy Company, SPA owns 49% of Skikda and Sacyr Agua, S.L. owns the remaining 16.83%.

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

(7)	Instituto para la Diversificación y Ahorro de la Energía (“Idae”), a Spanish state owned company, holds 20% of the shares in Seville PV.

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

(9)	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.

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

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

(12)	Including the acquisition of ATN Expansion 1 & 2.

(13)	As of December 31, 2019.

(*)	Commercial Operation Date.

Related parties

12 Months Ended

Dec. 31, 2019

Related parties [Abstract]

Related parties

Note 10.- Related parties

During the normal course of business, the Company has historically conducted operations with related parties consisting mainly of Abengoa´s subsidiaries and non-controlling interests. The transactions were completed at market rates.

Further to the sale of its remaining 16.47% stake in the Company to Algonquin on November 27, 2018, Abengoa ceased to fulfill the conditions to be a related party as per IAS 24 - Related Parties Disclosures. Algonquin on its side is a related party since it completed the acquisition of a 25% stake in the Company in March 2018.

Details of balances with related parties as of December 31, 2019 and 2018, which therefore do not include balances with Abengoa, are as follows:

	Balance as of December 31,
	2019		2018

Credit receivables (current)		13,350		5,328
Total current receivables with related parties		13,350		5,328

Credit receivables (non-current)		21,355		-
Total non-current receivables with related parties		21,355		-

Credit payables (current)		23,979		19,352
Total current payables with related parties		23,979		19,352

Credit payables (non-current)		17,115		33,675
Total non-current payables with related parties		17,115		33,675

Current credit receivables as of December 31, 2019 mainly correspond to the short-term portion of the loan to Arroyo Netherland II B.V., the holding company of Pemcorp SAPI de CV., Monterrey´s project entity (Note 5) for $5.0 million and to a dividend to be collected from Amherst Island Partnership for $5.5 million as of December 31, 2019.

Non-current credit receivables as of December 31, 2019 correspond to the long-term portion of the loan to Arroyo Netherland II B.V.

Credit payables relate to debts with non-controlling interests partners in Kaxu, Solaben 2&3 and Solacor 1&2 for an amount of $35.6 million as of December 31, 2019 ($53.0 million as of December 31, 2018). Current credit payables also include the dividend to be paid from Atlantica Yield Energy Solutions Ltd to Algonquin for $5.4 million as of December 31, 2019.

	For the twelve-month period ended December 31,
	2019			2018			2017
Services rendered		-			-			3,495
Services received		-			(101,582	)		(114,416	)
Financial income		978			3,721			74
Financial expenses		(195	)		(398	)		(1,154	)

Services received in 2018 and 2017 primarily included operation and maintenance services received by some assets from Abengoa and subsidiaries of Abengoa, which had been related parties during these years.

The total amount of the remuneration received by the Board of Directors of the Company, including the CEO, amounts to $2.5 million in 2019 ($3.1 million in 2018), including $1.0 million of annual bonus ($1.0 million in 2018). The decrease of the total remuneration in 2019 is mainly due to the CEO having received a long-term award of $0.8 million in 2018, paid in March 2019. No long-term awards have vested in 2019. None of the directors received any pension remuneration in 2018 nor 2019.

Commitments, third-party guarantees, contingent assets and liabilities

12 Months Ended

Dec. 31, 2019

Commitments, third-party guarantees, contingent assets and liabilities [Abstract]

Commitments, third-party guarantees, contingent assets and liabilities

Note 19.- Commitments, third-party guarantees, contingent assets and liabilities

Contractual obligations

The following tables shows the breakdown of the third-party commitments and contractual obligations as of December 31, 2019 and 2018:

2019	Total		2020		2021 and 2022		2023 and 2024		Subsequent

Corporate debt		723,791		28,706		200,504		200,926		293,655
Loans with credit institutions (project debt)		4,105,915		241,116		504,921		598,837		2,761,041
Notes and bonds (project debt)		746,433		28,304		51,508		56,192		610,429
Purchase commitments*		2,991,432		129,595		278,418		269,632		2,313,787
Accrued interest estimate during the useful life of loans		2,472,070		294,676		549,320		471,535		1,156,539

2018	Total		2019		2020 and 2021		2022 and 2023		Subsequent

Corporate debt		684,073		268,905		107,560		205,258		102,350
Loans with credit institutions (project debt)		4,314,307		233,214		476,191		571,374		3,033,528
Notes and bonds (project debt)		776,807		31,241		49,445		54,879		641,242
Purchase commitments*		3,082,495		131,417		264,461		259,775		2,426,842
Accrued interest estimate during the useful life of loans		2,743,132		314,984		565,040		492,932		1,370,176

The figures shown in the tables above do not include equity investments that the Company may be committed to realize in the future, if certain conditions are met, such as equity investments in the PTS project.

*Purchase commitments included lease commitments for $93.0 million as of December 31, 2019 ($97.4 million as of December 31, 2018), of which $5.1 million is due within one year and $87.9 million thereafter as of December 31, 2019 ($5.4 million due within one year and $92.0 million thereafter as of December 31, 2018).

Third-party guarantees

At the close of 2019 the overall sum of Bank Bond and Surety Insurance directly deposited by the subsidiaries of the Company as a guarantee to third parties (clients, financial entities and other third parties) amounted to $38.2 million attributed to operations of technical nature ($32.4 million as of December 31, 2018). In addition, Atlantica Yield plc issued guarantees amounting to $130.1 million as of December 31, 2019 ($60.5 million as of December 31, 2018). Guarantees issued by Atlantica Yield plc correspond mainly to guarantees provided to off-takers in PPAs, guarantees replacing debt service reserve accounts and guarantees for points of access for renewable projects, which have been partially canceled as of the date of this report.

Legal Proceedings

On October 17, 2016, ACT received a request for arbitration from the International Court of Arbitration of the International Chamber of Commerce presented by Pemex. Pemex was requesting compensation for damages caused by a fire that occurred in their facilities during the construction of the ACT cogeneration plant in December 2012, for a total amount of approximately $20 million. On July 5, 2017, Seguros Inbursa, the insurer of Pemex, joined as a second claimant in the process. On December 19, 2018 the parties of the arbitration executed a settlement agreement to finalize the claim without any financial impact for ACT. On March 8, 2019 the ICC arbitration tribunal confirmed the settlement agreement and the arbitration was terminated.

A number of Abengoa’s subcontractors and insurance companies that issued bonds covering Abengoa’s obligations under such contracts in the U.S. have included some of the non-recourse subsidiaries of Atlantica in the U.S. as co-defendants in claims against Abengoa. Generally, the subsidiaries of Atlantica have been dismissed as defendants at early stages of the processes. With respect to a claim addressed by a group of insurance companies to a number of Abengoa’s subsidiaries and to Solana for Abengoa related losses of approximately $20 million that could increase, according to the insurance companies, up to a maximum of approximately $200 million if all their exposure resulted in losses, Atlantica reached an agreement with all but one of the above-mentioned insurance companies, under which they agreed to dismiss their claims in exchange for payments of approximately $4.3 million, which were paid in 2018. The insurance company that did not join the agreement has temporarily stopped legal actions against Atlantica, and Atlantica does not expect this particular claim to have a material adverse effect on its business.

In addition, an insurance company covering certain Abengoa’s obligations in Mexico has claimed certain amounts related to a potential loss. This claim is covered by existing indemnities from Abengoa. Nevertheless, the Company has reached an agreement under which Atlantica´s maximum theoretical exposure would in any case be limited to approximately $35 million, including $2.5 million to be held in an escrow account. On January 2019, the insurance company executed $2.5 million from the escrow account and Abengoa reimbursed such amount according to the existing indemnities in force between Atlantica and Abengoa. The payments by Atlantica would only happen if and when the actual loss has been confirmed, Abengoa has not fulfilled their obligations and after arbitration, if the Company initiates it.

The Company is not a party to any other significant legal proceeding other than legal proceedings arising in the ordinary course of its business. The Company is party to various administrative and regulatory proceedings that have arisen in the ordinary course of business. While the Company does not expect these proceedings, either individually or in the aggregate, to have a material adverse effect on its financial position or results of operations, because of the nature of these proceedings the Company is not able to predict their ultimate outcomes, some of which may be unfavorable to the Company.

Other matters

Abengoa maintains a number of obligations under EPC, O&M and other contracts, as well as indemnities covering certain potential risks. Additionally, Abengoa represented that further to the accession to its restructuring agreement, Atlantica would not be a guarantor of any obligation of Abengoa with respect to third parties and agreed to indemnify the Company for any penalty claimed by third parties resulting from any breach in such representations. The Company has contingent assets, which have not been recognized as of December 31, 2019, related to the obligations of Abengoa referred above, which result and amounts will depend on the occurrence of uncertain future events. In particular as of April 26, 2018 and November 27, 2018 Abengoa agreed to pay Atlantica certain amounts subject to conditions which are beyond the control of the Company.

The Company entered into a Financial Support Agreement on June 13, 2014, under which Abengoa agreed to maintain any guarantees and letters of credit that have been provided by it on behalf of or for the benefit of Atlantica and its affiliates for a period of five years. This agreement with Abengoa expired in June 2019, and Abengoa’s commitment to maintain guarantees and letters of credit currently outstanding in the Company´s affiliates´ favor expired, as well. The Company replaced all the guarantees where necessary.

Derivative financial instruments

12 Months Ended

Dec. 31, 2019

Derivative financial instruments [Abstract]

Derivative financial instruments

Note 9.- Derivative financial instruments

The breakdowns of the fair value amount of the derivative financial instruments as of December 31, 2019 and 2018 are as follows:

	Balance as of December 31, 2019				Balance as of December 31, 2018
	Assets		Liabilities		Assets		Liabilities
Interest rate cash flow hedge		1,619		298,744		9,923		279,152
Foreign exchange derivatives instruments		3,610		-		3,230		-
Total		5,230		298,744		13,153		279,152

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

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

As stated in Note 3 to these consolidated financial statements, the general policy is to hedge variable interest rates of financing agreements purchasing call options (caps) in exchange of a premium to fix the maximum interest rate cost and contracting floating to fixed interest rate swaps.

As a result, the notional amounts hedged, strikes contracted and maturities, depending on the characteristics of the debt on which the interest rate risk is being hedged, can be diverse:

Project debt in Euros: the Company hedges between 81% and 100% of the notional amount, maturities until 2030 and average guaranteed interest rates of between 0.89% and 4.87%.

Project debt in U.S. dollars: the Company hedges between 70% and 100% of the notional amount, including maturities until 2034 and average guaranteed interest rates of between 1.98% and 5.27%.

The table below shows a breakdown of the maturities of notional amounts of interest rate cash flow hedge derivatives as of December 31, 2019 and 2018.

Notionals	Balance as of December 31, 2019				Balance as of December 31, 2018
	Assets		Liabilities		Assets		Liabilities
Up to 1 year		43,266		117,574		42,846		93,440
Between 1 and 2 years		45,955		124,908		45,603		119,568
Between 2 and 3 years		49,259		240,570		48,774		234,572
Subsequent years		455,235		1,697,033		535,774		1,858,061
Total	$	593,715	$	2,180,085	$	672,997	$	2,305,641

The table below shows a breakdown of the maturity of the fair values of interest rate cash flow hedge derivatives as of December 31, 2019 and 2018:

Fair value	Balance as of December 31, 2019					Balance as of December 31, 2018
	Assets		Liabilities			Assets		Liabilities
Up to 1 year		118		(18,721	)		493		(11,848	)
Between 1 and 2 years		128		(19,787	)		524		(13,231	)
Between 2 and 3 years		140		(21,802	)		562		(15,151	)
Subsequent years		1,234		(238,434	)		8,344		(238,922	)
Total	$	1,619	$	(298,744	)	$	9,923	$	(279,152	)

During 2019, fair value of derivatives decreased mainly due to a decrease in the fair value of interest rate cash-flow hedges resulting from the decrease in future interest rates.

The net amount of the fair value of interest rate derivatives designated as cash flow hedges transferred to the consolidated income statement in 2019 is a loss of $55,765 thousand (loss of $67,519 thousand in 2018 and a loss of $70,953 thousand in 2017). Additionally, the net amount of the time value component of the cash flow derivatives fair value recognized in the consolidated income statement for the year 2019, 2018 and 2017 has been a gain of $157 thousand, a loss of $560 thousand and a loss of $860 thousand respectively.

The after-tax result accumulated in equity in connection with derivatives designated as cash flow hedges at the years ended December 31, 2019 and 2018, amount to a $73,797 thousand gain and a $95,011 thousand gain respectively.

Project debt

12 Months Ended

Dec. 31, 2019

Project debt [Abstract]

Project debt

Note 15.- Project debt

The main purpose of the Company is the long-term ownership and management of contracted concessional assets, such as renewable energy, efficient natural gas, electric transmission lines and water assets, which are financed through project debt. This note shows the project debt linked to the contracted concessional assets included in Note 6 of these consolidated financial statements.

Project debt is generally used to finance contracted assets, exclusively using as a guarantee the assets and cash flows of the company or group of companies carrying out the activities financed. In most of the cases, the assets and/or contracts are set up as a guarantee to ensure the repayment of the related financing. In addition, the cash of the Company´s projects includes funds held to satisfy the customary requirements of certain non-recourse debt agreements and other restricted cash for an amount of $339 million as of December 31, 2019 ($296 million as of December 31, 2018).

Compared with corporate debt, project debt has certain key advantages, including a greater leverage and a clearly defined risk profile.

The variations for 2019 and 2018 of project debt have been the following:

	Project debt - long term			Project debt - short term			Total
Balance as of December 31, 2018		4,826,659			264,455			5,091,114
Increases		53,222			280,005			333,226
Decreases		(19,272	)		(516,147	)		(535,418	)
Currency translation differences		(33,718	)		(2,855	)		(36,574	)
Reclassifications		(756,981	)		756,981			-
Balance as of December 31, 2019		4,069,909			782,439			4,852,348

The line “Increases” includes primarily accrued interests for the year.

The decrease of Project debt during the year 2019 is primarily due to the contractual payments of debt for the year and the partial repayment of Solana debt using the indemnity received from Abengoa for $22.2 million (Note 10). Interests accrued are offset by a similar amount of interests paid during the year.

Due to the PG&E Corporation and its regulated utility subsidiary, Pacific Gas and Electric Company (“PG&E”), chapter 11 filings in January 2019, a default of the PPA agreement with PG&E occurred. Since PG&E failed to assume the PPA within 180 days from the commencement of the PG&E’s chapter 11 proceedings, a technical event of default was triggered under the Mojave project finance agreement in July 2019. Although the Company does not contemplate the scenario under which the DOE would declare the acceleration of debt repayment, the project debt agreement does not have an unconditional right to defer the settlement of the debt for at least twelve months as of December 31, 2019, as the event of default provision make that right not totally unconditional, and therefore the debt has been presented as current in these consolidated financial statements in accordance with International Accounting Standards 1 (“IAS 1”), “Presentation of Financial Statements”.

	Project debt - long term			Project debt - short term			Total
Balance as of December 31, 2017		5,228,917			246,291			5,475,208
Increases		105,466			288,541			393,007
Decreases		(98,450	)		(522,317	)		(620,767	)
First time application of IFRS 9 effective January 1, 2018		(39,599	)		-			(39,599	)
Debt refinancing IFRS 9 impact		(36,642	)		-			(36,642	)
Change in the scope of the consolidated financial statements (Note 5)		79,016			2,346			81,362
Currency translation differences		(150,019	)		(12,436	)		(162,455	)
Reclassifications		(262,030	)		262,030			-
Balance as of December 31, 2018		4,826,659			264,455			5,091,114

The line “Increases” includes primarily accrued interests for the year.

Main variations in Project debt during the year 2018 were the result of:

A net decrease primarily due to the contractual payments of debt for the year and the partial repayment of Solana debt using the indemnity received from Abengoa during the year 2018 for $61.5 million (see Note 10). Interests accrued are offset by a similar amount of interests paid during the year;

The impact of the first application of IFRS 9, ´Financial instruments´ from January 1, 2018;

The impact of the refinancing of the debts of Helios 1/2 and Helioenergy 1/2 on May 18, 2018 and June 26, 2018 respectively. The terms of the new debts are not substantially different from the original debts refinanced and therefore the exchange of debts instruments does not qualify for an extinguishment of the original debts under IFRS 9, ´Financial instruments´. When there is a refinancing with a non-substantial modification of the original debt, there is a gain or loss recorded in the income statement. This gain or loss is equal to the difference between the present value of the cash flows under the original terms of the former financing and the present value of the cash flows under the new financing, discounted both at the original effective interest rate. In this respect, the Company recorded a $36.6 million financial income in the profit and loss statement of the consolidated financial statements (see Note 21);

The acquisition of assets and the consolidation of its debt during the year (see Note 5).

The repayment schedule for project debt in accordance with the financing arrangements and assuming there will be no acceleration of the Mojave debt, as of December 31, 2019, is as follows and is consistent with the projected cash flows of the related projects:

2020				2021		2022		2023		2024		Subsequent years		Total
Interest Repayment		Nominal repayment
	12,799		256,620		262,787		293,642		319,962		335,067		3,371,724		4,852,348

Current and non-current loans with credit entities include amounts in foreign currencies for a total of $2,291,262 thousand as of December 31, 2019 ($2,464,352 thousand as of December 31, 2018).

The following table details the movement in Project debt for the year 2019, split between cash and non-cash items:

	January 1, 2019			Cash Flow			Non-cash changes			December 31, 2019
Project debt		5,091,114			(531,726	)		292,960			4,852,348

The non-cash changes primarily relate to interests accrued and to currency translation differences.

The equivalent in U.S. dollars of the most significant foreign-currency-denominated debts held by the Company is as follows:

	Balance as of December 31,
Currency	2019		2018
Euro		1,882,618		2,049,892
Algerian Dinar		24,331		29,545
South African Rand		384,313		384,915
Total		2,291,262		2,464,352

All of the Company’s financing agreements have a carrying amount close to its fair value.

Consolidated statements of comprehensive income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Consolidated statements of comprehensive income [Abstract]
Profit/(loss) for the year	$ 74,608	$ 55,269	$ (104,887)
Items that may be subject to transfer to income statement
Change in fair value of cash flow hedges	(81,713)	(40,220)	(28,535)
Currency translation differences	(22,284)	(57,628)	121,924
Tax effect	20,088	6,195	4,426
Net income/(expenses) recognized directly in equity	(83,909)	(91,653)	97,815
Cash flow hedges	55,765	67,519	70,953
Tax effect	(13,941)	(16,880)	(17,738)
Transfers to income statement	41,824	50,639	53,215
Other comprehensive income/(loss)	(42,085)	(41,014)	151,030
Total comprehensive income/(loss) for the year	32,523	14,255	46,143
Total comprehensive (income)/loss attributable to non-controlling interest	(12,429)	(11,954)	(14,773)
Total comprehensive income/(loss) attributable to the Company	$ 20,094	$ 2,301	$ 31,370

Financial risk management (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest Rate Risk [Member]
Financial risk management [Abstract]
Forecasted increase in benchmark interest rate	0.25%
Forecasted loss on cash flow hedges due to increase in benchmark interest rate	$ (2,745)	$ (2,731)	$ (1,066)
Forecasted increase in hedging reserves due to increase in benchmark interest rate	$ 27,570	$ 32,928	$ 39,142
Interest Rate Risk [Member] \| Euros [Member]
Financial risk management [Abstract]
Maturity date	2030
Interest Rate Risk [Member] \| Euros [Member] \| Bottom of Range [Member]
Financial risk management [Abstract]
Percentage of notional amount of debt hedged	81.00%
Interest rate	0.89%
Interest Rate Risk [Member] \| Euros [Member] \| Top of Range [Member]
Financial risk management [Abstract]
Percentage of notional amount of debt hedged	100.00%
Interest rate	4.87%
Interest Rate Risk [Member] \| U.S. Dollars [Member]
Financial risk management [Abstract]
Maturity date	2034
Interest Rate Risk [Member] \| U.S. Dollars [Member] \| Bottom of Range [Member]
Financial risk management [Abstract]
Percentage of notional amount of debt hedged	70.00%
Interest rate	1.98%
Interest Rate Risk [Member] \| U.S. Dollars [Member] \| Top of Range [Member]
Financial risk management [Abstract]
Percentage of notional amount of debt hedged	100.00%
Interest rate	5.27%
Currency Risk [Member]
Financial risk management [Abstract]
Net Euro exposure percentage for next fiscal year	100.00%
Net Euro exposure percentage for following fiscal period	75.00%

Cash and cash equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash and cash equivalents [abstract]
Cash at bank and on hand - non restricted	$ 223,867	$ 335,114
Cash at bank and on hand - restricted	338,928	296,428
Cash and cash equivalents	562,795	631,542	$ 669,387	$ 594,811
U.S. Dollar [Member]
Cash and cash equivalents [abstract]
Cash and cash equivalents	313,678	328,716
Euro [Member]
Cash and cash equivalents [abstract]
Cash and cash equivalents	181,961	228,036
Algerian Dinar [Member]
Cash and cash equivalents [abstract]
Cash and cash equivalents	9,301	11,602
South African Rand [Member]
Cash and cash equivalents [abstract]
Cash and cash equivalents	47,679	55,257
Others [Member]
Cash and cash equivalents [abstract]
Cash and cash equivalents	$ 10,176	$ 7,931

Financial instruments by category, Reconciliation to statement of financial position (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) mi	Dec. 31, 2018 USD ($)
Financial Assets [Abstract]
Total financial assets	$ 1,190,527	$ 1,161,441
Financial Liabilities [Abstract]
Total financial liabilities	6,020,060	6,280,047
Corporate Debt [Member]
Financial Liabilities [Abstract]
Total financial liabilities	723,791	684,073
Project Debt [Member]
Financial Liabilities [Abstract]
Total financial liabilities	4,852,348	5,091,114
Related Parties - Non-current [Member]
Financial Liabilities [Abstract]
Total financial liabilities	17,115	33,675
Trade and Other Current Liabilities [Member]
Financial Liabilities [Abstract]
Total financial liabilities	128,062	192,033
Derivative Liabilities [Member]
Financial Liabilities [Abstract]
Total financial liabilities	298,744	279,152
Derivative Liabilities [Member]
Financial Assets [Abstract]
Total financial assets	5,230	13,153
Investment in Ten West Link [Member]
Financial Assets [Abstract]
Total financial assets	$ 9,874	6,034
Percentage interest acquired	12.50%
Length of transmission lines \| mi	114
Investment in Rioglass [Member]
Financial Assets [Abstract]
Total financial assets	$ 7,000
Percentage interest acquired	15.12%
Other Financial Investments [Member]
Financial Assets [Abstract]
Total financial assets	$ 288,060	274,318
Contracted concessional financial assets	160,600	159,100
Trade and Other Receivables [Member]
Financial Assets [Abstract]
Total financial assets	317,568	236,395
Cash and Cash Equivalents [Member]
Financial Assets [Abstract]
Total financial assets	562,795	631,542
Amortized Cost [Member]
Financial Liabilities [Abstract]
Total financial liabilities	5,721,316	6,000,895
Amortized Cost [Member] \| Corporate Debt [Member]
Financial Liabilities [Abstract]
Total financial liabilities	723,791	684,073
Amortized Cost [Member] \| Project Debt [Member]
Financial Liabilities [Abstract]
Total financial liabilities	4,852,348	5,091,114
Amortized Cost [Member] \| Related Parties - Non-current [Member]
Financial Liabilities [Abstract]
Total financial liabilities	17,115	33,675
Amortized Cost [Member] \| Trade and Other Current Liabilities [Member]
Financial Liabilities [Abstract]
Total financial liabilities	128,062	192,033
Amortized Cost [Member] \| Derivative Liabilities [Member]
Financial Liabilities [Abstract]
Total financial liabilities	0	0
Fair Value Through Profit or Loss [Member]
Financial Liabilities [Abstract]
Total financial liabilities	298,744	279,152
Fair Value Through Profit or Loss [Member] \| Corporate Debt [Member]
Financial Liabilities [Abstract]
Total financial liabilities	0	0
Fair Value Through Profit or Loss [Member] \| Project Debt [Member]
Financial Liabilities [Abstract]
Total financial liabilities	0	0
Fair Value Through Profit or Loss [Member] \| Related Parties - Non-current [Member]
Financial Liabilities [Abstract]
Total financial liabilities	0	0
Fair Value Through Profit or Loss [Member] \| Trade and Other Current Liabilities [Member]
Financial Liabilities [Abstract]
Total financial liabilities	0	0
Fair Value Through Profit or Loss [Member] \| Derivative Liabilities [Member]
Financial Liabilities [Abstract]
Total financial liabilities	298,744	279,152
Amortized Cost [Member]
Financial Assets [Abstract]
Total financial assets	1,168,423	1,142,255
Amortized Cost [Member] \| Derivative Liabilities [Member]
Financial Assets [Abstract]
Total financial assets	0	0
Amortized Cost [Member] \| Investment in Ten West Link [Member]
Financial Assets [Abstract]
Total financial assets	0	0
Amortized Cost [Member] \| Investment in Rioglass [Member]
Financial Assets [Abstract]
Total financial assets	0
Amortized Cost [Member] \| Other Financial Investments [Member]
Financial Assets [Abstract]
Total financial assets	288,060	274,318
Amortized Cost [Member] \| Trade and Other Receivables [Member]
Financial Assets [Abstract]
Total financial assets	317,568	236,395
Amortized Cost [Member] \| Cash and Cash Equivalents [Member]
Financial Assets [Abstract]
Total financial assets	562,795	631,542
Fair Value Through Other Comprehensive Income [Member]
Financial Assets [Abstract]
Total financial assets	9,874	6,034
Fair Value Through Other Comprehensive Income [Member] \| Derivative Liabilities [Member]
Financial Assets [Abstract]
Total financial assets	0	0
Fair Value Through Other Comprehensive Income [Member] \| Investment in Ten West Link [Member]
Financial Assets [Abstract]
Total financial assets	9,874	6,034
Fair Value Through Other Comprehensive Income [Member] \| Investment in Rioglass [Member]
Financial Assets [Abstract]
Total financial assets	0
Fair Value Through Other Comprehensive Income [Member] \| Other Financial Investments [Member]
Financial Assets [Abstract]
Total financial assets	0	0
Fair Value Through Other Comprehensive Income [Member] \| Trade and Other Receivables [Member]
Financial Assets [Abstract]
Total financial assets	0	0
Fair Value Through Other Comprehensive Income [Member] \| Cash and Cash Equivalents [Member]
Financial Assets [Abstract]
Total financial assets	0	0
Fair Value Through Profit or Loss [Member]
Financial Assets [Abstract]
Total financial assets	12,230	13,153
Fair Value Through Profit or Loss [Member] \| Derivative Liabilities [Member]
Financial Assets [Abstract]
Total financial assets	5,230	13,153
Fair Value Through Profit or Loss [Member] \| Investment in Ten West Link [Member]
Financial Assets [Abstract]
Total financial assets	0	0
Fair Value Through Profit or Loss [Member] \| Investment in Rioglass [Member]
Financial Assets [Abstract]
Total financial assets	7,000
Fair Value Through Profit or Loss [Member] \| Other Financial Investments [Member]
Financial Assets [Abstract]
Total financial assets	0	0
Fair Value Through Profit or Loss [Member] \| Trade and Other Receivables [Member]
Financial Assets [Abstract]
Total financial assets	0	0
Fair Value Through Profit or Loss [Member] \| Cash and Cash Equivalents [Member]
Financial Assets [Abstract]
Total financial assets	$ 0	$ 0

Cash and cash equivalents

12 Months Ended

Dec. 31, 2019

Cash and cash equivalents [Abstract]

Cash and cash equivalents

Note 12.- Cash and cash equivalents

The following table shows the detail of Cash and cash equivalents as of December 31, 2019 and 2018:

	Balance as of December 31,
	2019		2018
Cash at bank and on hand - non restricted		223,867		335,114
Cash at bank and on hand - restricted		338,928		296,428
Total		562,795		631,542

Cash includes funds held to satisfy the customary requirements of certain non-recourse debt agreements within the Company´s projects amounting to $339 million as of December 31, 2019 ($296 million as of December 31, 2018).

The following breakdown shows the main currencies in which cash and cash equivalent balances are denominated:

	Balance as of December 31,
Currency	2019		2018
U.S. dollar		313,678		328,716
Euro		181,961		228,036
Algerian Dinar		9,301		11,602
South African Rand		47,679		55,257
Others		10,176		7,931
Total		562,795		631,542

Financial information by segment, Revenues and Further Adjusted EBITDA (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) Customer	Dec. 31, 2018 USD ($) Customer	Dec. 31, 2017 USD ($)
Financial information by segment [Abstract]
Number of customers representing more than 10% of total revenues \| Customer	4	4
Revenue	$ 1,011,452	$ 1,043,822	$ 1,008,381
Further Adjusted EBITDA	$ 811,204	$ 850,607	779,310
Renewable Energy [Member]
Financial information by segment [Abstract]
Number of customers representing more than 10% of total revenues \| Customer	3	3
Revenue	$ 761,090	$ 793,557	767,226
Further Adjusted EBITDA	$ 603,666	$ 664,428	569,193
Efficient Natural Gas [Member]
Financial information by segment [Abstract]
Number of customers representing more than 10% of total revenues \| Customer	1	1
Revenue	$ 122,281	$ 130,799	119,784
Further Adjusted EBITDA	107,457	93,858	106,140
Electric Transmission Lines [Member]
Financial information by segment [Abstract]
Revenue	103,453	95,998	95,096
Further Adjusted EBITDA	85,657	78,461	87,695
Water [Member]
Financial information by segment [Abstract]
Revenue	24,629	23,468	26,275
Further Adjusted EBITDA	14,424	13,860	16,282
North America [Member]
Financial information by segment [Abstract]
Revenue	332,965	357,177	332,705
Further Adjusted EBITDA	305,085	308,748	282,328
South America [Member]
Financial information by segment [Abstract]
Revenue	142,207	123,214	120,797
Further Adjusted EBITDA	115,346	100,234	108,766
EMEA [Member]
Financial information by segment [Abstract]
Revenue	536,280	563,431	554,879
Further Adjusted EBITDA	$ 390,774	$ 441,625	$ 388,216

Financial income and expenses

12 Months Ended

Dec. 31, 2019

Financial income and expenses [Abstract]

Financial income and expenses

Note 21.- Financial income and expenses

The following table sets forth financial income and expenses for the years ended December 31, 2019, 2018 and 2017:

	For the year ended December 31,
Financial income	2019		2018		2017
Interest income from loans and credits		3,665		36,296		325
Interest rates benefits derivatives: cash flow hedges		456		148		682
Total		4,121		36,444		1,007

	For the year ended December 31,
Financial expenses	2019			2018			2017
Expenses due to interest:
- Loans from credit entities		(259,416	)		(256,736	)		(253,660	)
- Other debts		(89,256	)		(100,057	)		(137,562	)
Interest rates losses derivatives: cash flow hedges		(59,318	)		(68,226	)		(72,495	)
Total		(407,990	)		(425,019	)		(463,717	)

Financial income from loans and credits in 2018 primarily includes a non-monetary financial income of $36.6 million resulting from the refinancing of the debts of Helios 1&2 and Helioenergy 1&2 in the second quarter of 2018 (Note 15).

Interests from other debts are primarily interests on the notes issued by ATS, ATN and Solaben Luxembourg and interests related to the investment from Liberty. The decrease in 2019 and 2018 are primarily due to a lower increase of the amortized cost of the Liberty debt compared to the previous year for $16 million and $23 million respectively (Note 16). Losses from interest rate derivatives designated as cash flow hedges correspond primarily to transfers from equity to financial expense when the hedged item is impacting the consolidated income statement.

Other net financial income and expenses

The following table sets out Other net financial income and expenses for the years 2019, 2018 and 2017:

	For the year ended December 31,
Other financial income / (expenses)	2019			2018			2017
Dividend from ACBH (Brazil)		-			-			10,383
Other financial income		14,152			14,431			28,809
Other financial losses		(15,305	)		(22,666	)		(20,758	)
Total		(1,153	)		(8,235	)		18,434

According to an agreement reached with Abengoa in the third quarter of 2016, Abengoa acknowledged that Atlantica Yield is the legal owner of the dividends declared on February 24, 2017 and retained from Abengoa amounting to $10.4 million. As a result, the Company recorded $10.4 million as Other financial income on 2017 in accordance with the accounting treatment previously given to the ACBH dividend.

Other financial income in 2019 and 2018 are primarily interests on deposits and on loan granted to third parties. In 2017, it included a $16.2 million income as a result of the termination of the currency swap agreement with Abengoa.

Other financial losses primarily include expenses for guarantees and letters of credit, wire transfers, other bank fees and other minor financial expenses.

Significant accounting policies

12 Months Ended

Dec. 31, 2019

Significant accounting policies [Abstract]

Significant accounting policies

Note 2.- Significant accounting policies

2.1 Basis of preparation

These consolidated financial statements are presented in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).

The consolidated financial statements are presented in U.S. dollars, which is the Company’s functional and presentation currency. Amounts included in these consolidated financial statements are all expressed in thousands of U.S. dollars, unless otherwise indicated.

Application of new accounting standards

Standards, interpretations and amendments effective from January 1, 2019 under IFRS-IASB, applied by the Company in the preparation of these consolidated financial statements:

IFRS 9 (Amendments to IFRS 9): Prepayment Features with Negative Compensation. This Standard is applicable for annual periods beginning on or after January 1, 2019 under IFRS-IASB, earlier application is permitted.

IAS 19 (Amendments to IAS 19): Plan Amendment, Curtailment or Settlement. This amendment is mandatory for annual periods beginning on or after January 1, 2019 under IFRS-IASB, earlier application is permitted.

IFRIC 23: Uncertainty over Income Tax Treatments. This Standard is applicable for annual periods beginning on or after January 1, 2019 under IFRS-IASB.

IAS 28 (Amendment). Long-term Interests in Associates and Joint Ventures. This amendment is mandatory for annual periods beginning on or after January 1, 2019 under IFRS-IASB, earlier application is permitted.

Amendments resulting from Annual Improvements 2015–2017 Cycle (remeasurement of previously held interest). This amendment is mandatory for annual periods beginning on or after January 1, 2019 under IFRS-IASB,

The applications of these amendments have not had any material impact on these consolidated financial statements.

b)	Standards, interpretations and amendments published by the IASB that will be effective for periods beginning on or after January 1, 2020:

IFRS 17 ‘Insurance Contracts’. This Standard is applicable for annual periods beginning on or after January 1, 2021 under IFRS-IASB, earlier application is permitted.

IFRS 3 (Amendment). Definition of Business. This amendment is mandatory for annual periods beginning on or after January 1, 2020 under IFRS-IASB, earlier application is permitted.

IAS 1 and IAS 8 (Amendment). Definition of Material. This amendment is mandatory for annual periods beginning on or after January 1, 2020 under IFRS-IASB, earlier application is permitted.

IAS 1 (Amendment). Classification of liabilities. This amendment is mandatory for annual periods beginning on or after January 1, 2022 under IFRS-IASB.

IFRS 7 and IFRS 9. Amendments regarding pre-replacement issues in the context of the IBOR reform. These amendments are mandatory for annual periods beginning on or after January 1, 2020 under IFRS-IASB.

Amendments to References to the Conceptual Frameworks in IFRS Standards. This Standard is applicable for annual periods beginning on or after January 1, 2020 under IFRS-IASB.

The Company does not anticipate any significant impact on the consolidated 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, 2020, although it is currently still in the process of evaluating such application.

2.2. Principles to include and record companies in the consolidated financial statements

Companies included in these consolidated financial statements are accounted for as subsidiaries as long as Atlantica has had control over them and are accounted for as investments under the equity method as long as Atlantica has had significant influence over them, in the periods presented.

Controlled entities

Control is achieved when the Company:

Has power over the investee;

Is exposed, or has rights, to variable returns from its involvement with the investee; and

Has the ability to use its power to affect its returns.

The Company reassesses whether or not it controls an investee when facts and circumstances indicate that there are changes to one or more of the three elements of control listed above.

The Company uses the acquisition method to account for business combinations of companies controlled by a third party. According to this method, identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any contingent consideration is recognized at fair value at the acquisition date and subsequent changes in its fair value are recognized in accordance with IFRS 9 either in profit or loss or as a change to other comprehensive income. Acquisition related costs are expensed as incurred. The Company recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquirer’s net assets on an acquisition by acquisition basis.

All assets and liabilities between entities of the group, equity, income, expenses, and cash flows relating to transactions between entities of the group are eliminated in full.

Investments accounted for under the equity method

An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies.

The results and assets and liabilities of associates are incorporated in these financial statements using the equity method of accounting. Under the equity method, an investment in an associate is initially recognized in the statement of financial position at cost and adjusted thereafter to recognize the Company share of the profit or loss and other comprehensive income of the associate.

Controlled entities and associates included in these financial statements as of December 31, 2019 and 2018 are set out in appendices.

2.3. Contracted concessional assets and price purchase agreements

Contracted concessional assets and price purchase agreements (PPAs) include fixed assets financed through project debt, related to service concession arrangements recorded in accordance with IFRIC 12, except for Palmucho, which is recorded in accordance with IFRS 16 and PS10, PS20, Mini-Hydro, Chile TL 3 and Seville PV, which are recorded as tangible assets in accordance with IAS 16. The infrastructures accounted for by the Company as concessions are related to the activities concerning electric transmission lines, solar electricity generation plants, cogeneration plants, wind farms and water plants. The useful life of these assets is approximately the same as the length of the concession arrangement. The infrastructure used in a concession can be classified as an intangible asset or a financial asset, depending on the nature of the payment entitlements established in the agreement.

The application of IFRIC 12 requires extensive judgment in relation with, among other factors, (i) the identification of certain infrastructures and contractual agreements in the scope of IFRIC 12, (ii) the understanding of the nature of the payments in order to determine the classification of the infrastructure as a financial asset or as an intangible asset and (iii) the timing and recognition of the revenue from construction and concessionary activity.

Under the terms of contractual arrangements within the scope of this interpretation, the operator shall recognize and measure revenue in accordance with IFRS 15 for the services it performs.

Intangible asset

The Company recognizes an intangible asset to the extent that it receives a right to charge final customers for the use of the infrastructure. This intangible asset is subject to the provisions of IAS 38 and is amortized linearly, taking into account the estimated period of commercial operation of the infrastructure which coincides with the concession period.

Once the infrastructure is in operation, the treatment of income and expenses is as follows:

Revenues from the updated annual revenue for the contracted concession, as well as operations and maintenance services are recognized in each period according to IFRS 15 “Revenue from contracts with Customers”.

Operating and maintenance costs and general overheads and administrative costs are recorded in accordance with the nature of the cost incurred (amount due) in each period.

Financing costs are expensed as incurred.

Financial asset

The Company recognizes a financial asset when demand risk is assumed by the grantor, to the extent that the concession holder has an unconditional right to receive payments for the asset. This asset is recognized at the fair value of the construction services provided, considering upgrade services in accordance with IFRS 15, if any.

The financial asset is subsequently recorded at amortized cost calculated according to the effective interest method. Revenue from operations and maintenance services is recognized in each period according to IFRS 15 “Revenue from contracts with Customers”. The income from managing and operating the asset resulting from the valuation at amortized cost is also recorded in revenue.

Financing costs are expensed as incurred.

According to IFRS 9, Atlantica recognises an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive.

There are two main approaches to applying the ECL model according to IFRS 9: the general approach which involves a three stage approach, and the simplified approach, which can be applied to trade receivables, contract assets and lease receivables. Atlantica has elected to apply the simplified approach. Under this approach, there is no need to monitor for significant increases in credit risk and entities will be required to measure lifetime expected credit losses at the end of each reporting period.

The key elements of the ECL calculations are the following:

the Probability of Default (“PD”) is an estimate of the likelihood of default over a given time horizon. Atlantica calculates PD based on Credit Default Swaps spreads (“CDS”);

the Exposure at Default (“EAD”) is an estimate of the exposure at a future default date;

the Loss Given Default (“LGD”) is an estimate of the loss arising in the case where a default occurs at a given time. It is based on the difference between the contractual cash flows due and those that the Company would expect to receive. It is expressed as a percentage of the EAD.

Property, plant and equipment

Property, plant and equipment includes property, plant and equipment of companies or project companies. Property, plant and equipment is measured at historical cost, including all expenses directly attributable to the acquisition, less depreciation and impairment losses, with the exception of land, which is presented net of any impairment losses.

Once the infrastructure is in operation, the treatment of income and expenses is the same as the one described above for intangible asset.

Right-of-use assets

Main right of use agreements correspond to land rights. The Company recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets.

The right-of-use assets are also subject to assets impairment (Note 2.5).

2.4. Borrowing costs

Interest costs incurred in the construction of any qualifying asset are capitalized over the period required to complete and prepare the asset for its intended use. A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its internal use or sale, which is considered to be more than one year. Remaining borrowing costs are expensed in the period in which they are incurred.

2.5. Asset impairment

Atlantica reviews its contracted concessional assets to identify any indicators of impairment at least annually. When impairment indicators exist, the company calculates the recoverable amount of the asset.

The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use, defined as the present value of the estimated future cash flows to be generated by the asset. In the event that the asset does not generate cash flows independently of other assets, the Company calculates the recoverable amount of the Cash Generating Unit (‘CGU’) to which the asset belongs.

When the carrying amount of the CGU to which these assets belong is higher than its recoverable amount, the assets are impaired.

Assumptions used to calculate value in use include a discount rate, growth rate and projections considering real data based in the contracts terms and projected changes in both selling prices and costs. The discount rate is estimated by Management, to reflect both changes in the value of money over time and the risks associated with the specific CGU.

For contracted concessional assets, with a defined useful life and with a specific financial structure, cash flow projections until the end of the project are considered and no terminal value is assumed.

Contracted concessional assets have a contractual structure that permits the Company to estimate quite accurately the costs of the project and revenue during the life of the project.

Projections take into account real data based on the contract terms and fundamental assumptions based on specific reports prepared internally and supported by specialists, assumptions on demand and assumptions on production. Additionally, assumptions on macro-economic conditions are taken into account, such as inflation rates, future interest rates, etc. and sensitivity analyses are performed over all major assumptions which can have a significant impact in the value of the asset.

Cash flow projections of CGUs are calculated in the functional currency of those CGUs and are discounted using rates that take into consideration the risk corresponding to each specific country and currency.

Taking into account that in most CGUs the specific financial structure is linked to the financial structure of the projects that are part of those CGUs, the discount rate used to calculate the present value of cash-flow projections is based on the weighted average cost of capital (WACC) for the type of asset, adjusted, if necessary, in accordance with the business of the specific activity and with the risk associated with the country where the project is performed.

In any case, sensitivity analyses are performed, especially in relation with the discount rate used and fair value changes in the main business variables, in order to ensure that possible changes in the estimates of these items do not impact the recovery of recognized assets.

Accordingly, the following table provides a summary of the discount rates used (WACC) and growth rates to calculate the recoverable amount for CGUs with the operating segment to which it pertains:

Operating segment	Discount rate			Growth rate
EMEA		4% - 6	%		0	%
North America		4% - 5	%		0	%
South America		5% - 7	%		0	%

In the event that the recoverable amount of an asset is lower than its carrying amount, an impairment charge for the difference would be recorded in the income statement under the item “Depreciation, amortization and impairment charges”.

Pursuant to IAS 36, an impairment loss is recognized by the Company if the carrying amount of these assets exceeds the present value of future cash flows discounted at the initial effective interest rate.

2.6 Loans and accounts receivable

Loans and accounts receivable are non-derivative financial assets with fixed or determinable payments, not listed on an active market.

In accordance with IFRIC 12, certain assets under concessions qualify as financial assets and are recorded as is described in Note 2.3.

Pursuant to IFRS 9, an impairment loss is recognized if the carrying amount of these assets exceeds the present value of future cash flows discounted at the initial effective interest rate.

Loans and accounts receivable are initially recognized at fair value plus transaction costs and are subsequently measured at amortized cost in accordance with the effective interest rate method. Interest calculated using the effective interest rate method is recognized under other financial income within financial income.

2.7. Derivative financial instruments and hedging activities

Derivatives are recorded at fair value. The Company applies hedge accounting to all hedging derivatives that qualify to be accounted for as hedges under IFRS-IASB.

When hedge accounting is applied, hedging strategy and risk management objectives are documented at inception, as well as the relationship between hedging instruments and hedged items. Effectiveness of the hedging relationship needs to be assessed on an ongoing basis. Effectiveness tests are performed prospectively at inception and at each reporting date, following the dollar offset method.

Atlantica applies cash flow hedging. Under this method, the effective portion of changes in fair value of derivatives designated as cash flow hedges are recorded temporarily in equity and are subsequently reclassified from equity to profit or loss in the same period or periods during which the hedged item affects profit or loss. Any ineffective portion of the hedged transaction is recorded in the consolidated income statement as it occurs.

When interest rate options are designated as hedging instruments, the intrinsic value and time value of the financial hedge instrument are separated. Changes in intrinsic and time value which are highly effective are recorded in equity and subsequently reclassified from equity to profit or loss in the same period or periods during which the hedged item affects profit or loss. Any ineffectiveness is recorded as financial income or expense as it occurs.

When the hedging instrument matures or is sold, or when it no longer meets the requirements to apply hedge accounting, accumulated gains and losses recorded in equity remain as such until the forecast transaction is ultimately recognized in the income statement. However, if it becomes unlikely that the forecast transaction will actually take place, the accumulated gains and losses in equity are recognized immediately in the income statement.

2.8. Fair value estimates

Financial instruments measured at fair value are presented in accordance with the following level classification 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.

In the event that prices cannot be observed, the management shall make its best estimate of the price that the market would otherwise establish based on proprietary internal models which, in the majority of cases, use data based on observable market parameters as significant inputs (Level 2) but occasionally use market data that is not observed as significant inputs (Level 3). Different techniques can be used to make this estimate, including extrapolation of observable market data. The best indication of the initial fair value of a financial instrument is the price of the transaction, except when the value of the instrument can be obtained from other transactions carried out in the market with the same or similar instruments, or valued using a valuation technique in which the variables used only include observable market data, mainly interest rates. Differences between the transaction price and the fair value based on valuation techniques that use data that is not observed in the market, are not initially recognized in the income statement.

Atlantica derivatives correspond primarily to the interest rate swaps designated as cash flow hedges, which are classified as Level 2.

Description of the valuation method

Interest rate swap valuations are made by valuing the swap part of the contract and valuing the credit risk. The methodology used by the market and applied by Atlantica to value interest rate swaps is to discount the expected future cash flows according to the parameters of the contract. Variable interest rates, which are needed to estimate future cash flows, are calculated using the curve for the corresponding currency and extracting the implicit rates for each of the reference dates in the contract. These estimated flows are discounted with the swap zero curve for the reference period of the contract.

The effect of the credit risk on the valuation of the interest rate swaps depends on the future settlement. If the settlement is favorable for the Company, the counterparty credit spread will be incorporated to quantify the probability of default at maturity. If the expected settlement is negative for the Company, its own credit risk will be applied to the final settlement.

Classic models for valuing interest rate swaps use deterministic valuation of the future of variable rates, based on future outlooks. When quantifying credit risk, this model is limited by considering only the risk for the current paying party, ignoring the fact that the derivative could change sign at maturity. A payer and receiver swaption model is proposed for these cases. This enables the associated risk in each swap position to be reflected. Thus, the model shows each agent’s exposure, on each payment date, as the value of entering into the ‘tail’ of the swap, i.e. the live part of the swap.

Variables (Inputs)

Interest rate derivative valuation models use the corresponding interest rate curves for the relevant currency and underlying reference in order to estimate the future cash flows and to discount them. Market prices for deposits, futures contracts and interest rate swaps are used to construct these curves. Interest rate options (caps and floors) also use the volatility of the reference interest rate curve.

To estimate the credit risk of the counterparty, the credit default swap (CDS) spreads curve is obtained in the market for important individual issuers. For less liquid issuers, the spreads curve is estimated using comparable CDSs or based on the country curve. To estimate proprietary credit risk, prices of debt issues in the market and CDSs for the sector and geographic location are used.

The fair value of the financial instruments that results from the aforementioned internal models takes into account, among other factors, the terms and conditions of the contracts and observable market data, such as interest rates, credit risk and volatility. The valuation models do not include significant levels of subjectivity, since these methodologies can be adjusted and calibrated, as appropriate, using the internal calculation of fair value and subsequently compared to the corresponding actively traded price. However, valuation adjustments may be necessary when the listed market prices are not available for comparison purposes.

2.9. Trade and other receivables

Trade and other receivables are amounts due from customers for sales in the normal course of business. They are recognized initially at fair value and subsequently measured at amortized cost using the effective interest rate method, less allowance for doubtful accounts. Trade receivables due in less than one year are carried at their face value at both initial recognition and subsequent measurement, provided that the effect of not discounting flows is not significant.

An allowance for doubtful accounts is recorded when there is objective evidence that the Company will not be able to recover all amounts due as per the original terms of the receivables. The Company has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.

2.10. Cash and cash equivalents

Cash and cash equivalents include cash in hand, cash in bank and other highly-liquid current investments with an original maturity of three months or less which are held for the purpose of meeting short-term cash commitments.

2.11. Grants

Grants are recognized at fair value when it is considered that there is a reasonable assurance that the grant will be received and that the necessary qualifying conditions, as agreed with the entity assigning the grant, will be adequately complied with.

Grants are recorded as liabilities in the consolidated statement of financial position and are recognized in “Other operating income” in the consolidated income statement based on the period necessary to match them with the costs they intend to compensate.

In addition, as described in Note 2.12 below, grants correspond also to loans with interest rates below market rates, for the initial difference between the fair value of the loan and the proceeds received.

2.12. Loans and borrowings

Loans and borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost and any difference between the proceeds initially received (net of transaction costs incurred in obtaining such proceeds) and the repayment value is recognized in the consolidated income statement over the duration of the borrowing using the effective interest rate method.

Loans with interest rates below market rates are initially recognized at fair value in liabilities and the difference between proceeds received from the loan and its fair value is initially recorded within “Grants and Other liabilities” in the consolidated statement of financial position, and subsequently recorded in “Other operating income” in the consolidated income statement when the costs financed with the loan are expensed.

Lease liabilities are recognized by the Company at the commencement date of the lease at the present value of lease payments to be made over the lease term. The lease payments include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating the lease, if the lease term reflects the Company exercising the option to terminate. In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date considering that the interest rate implicit in the lease is not readily determinable.

2.13. Bonds and notes

The Company initially recognizes ordinary notes at fair value, net of issuance costs incurred. Subsequently, notes are measured at amortized cost until settlement upon maturity. Any other difference between the proceeds obtained (net of transaction costs) and the redemption value is recognized in the consolidated income statement over the term of the debt using the effective interest rate method.

2.14. Income taxes

Current income tax expense is calculated on the basis of the tax laws in force as of the date of the consolidated statement of financial position in the countries in which the subsidiaries and associates operate and generate taxable income.

Deferred income tax is calculated in accordance with the liability method, based upon the temporary differences arising between the carrying amount of assets and liabilities and their tax base. Deferred income tax is determined using tax rates and regulations which are expected to apply at the time when the deferred tax is realized.

Deferred tax assets are recognized only when it is probable that sufficient future taxable profit will be available to use deferred tax assets.

2.15. Trade payables and other liabilities

Trade payables are obligations arising from purchases of goods and services in the ordinary course of business and are recognized initially at fair value and are subsequently measured at their amortized cost using the effective interest method. Other liabilities are obligations not arising in the normal course of business and which are not treated as financing transactions. Advances received from customers are recognized as “Trade payables and other current liabilities”.

2.16. Foreign currency transactions

The consolidated financial statements are presented in U.S. dollars, which is Atlantica’s functional and presentation currency. Financial statements of each subsidiary within the Company are measured in the currency of the principal economic environment in which the subsidiary operates, which is the subsidiary’s functional currency.

Transactions denominated in a currency different from the subsidiary’s functional currency are translated into the subsidiary’s functional currency applying the exchange rates in force at the time of the transactions. Foreign currency gains and losses that result from the settlement of these transactions and the translation of monetary assets and liabilities denominated in foreign currency at the year-end rates are recognized in the consolidated income statement, unless they are deferred in equity, as occurs with cash flow hedges and net investment in foreign operations hedges.

Assets and liabilities of subsidiaries with a functional currency different from the Company’s reporting currency are translated to U.S. dollars at the exchange rate in force at the closing date of the financial statements. Income and expenses are translated into U.S. dollars using the average annual exchange rate, which does not differ significantly from using the exchange rates of the dates of each transaction. The difference between equity translated at the historical exchange rate and the net financial position that results from translating the assets and liabilities at the closing rate is recorded in equity under the heading “Accumulated currency translation differences”.

Results of companies carried under the equity method are translated at the average annual exchange rate.

2.17. Equity

The Company has recyclable balances in its equity, corresponding mainly to hedge reserves and translation differences arising from currency conversion in the preparation of these consolidated financial statements. These balances have been presented separately in Equity.

Non-controlling interest represents interest from other partners in entities included in these consolidated financial statements which are not fully owned by Atlantica as of the dates presented.

Parent company reserves together with the Share capital represent the Parent’s net investment in the entities included in these consolidated financial statements.

2.18. Provisions and contingencies

Provisions are recognized when:

there is a present obligation, either legal or constructive, as a result of past events;

it is more likely than not that there will be a future outflow of resources to settle the obligation; and

the amount has been reliably estimated.

Provisions are initially measured at the present value of the expected outflows required to settle the obligation and subsequently valued at amortized cost following the effective interest method. The balance of provisions disclosed in the Notes reflects management’s best estimate of the potential exposure as of the date of preparation of the consolidated financial statements.

Contingent liabilities are possible obligations, existing obligations with low probability of a future outflow of economic resources and existing obligations where the future outflow cannot be reliably estimated. Contingences are not recognized in the consolidated statements of financial position unless they have been acquired in a business combination.

Some companies included in the group have dismantling provisions, which are intended to cover future expenditures related to the dismantlement of the plants and it will be likely to be settled with an outflow of resources in the long term (over 5 years).

Such provisions are accrued when the obligation for dismantling, removing and restoring the site on which the plant is located, is incurred, which is usually during the construction period. The provision is measured in accordance with IAS 37, “Provisions, Contingent Liabilities and Contingent Assets” and is recorded as a liability under the heading “Grants and other liabilities” of the Financial Statements, and as the corresponding ending entry part of the cost of the plant under the heading “Contracted concessional assets.”

2.19. 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 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 the businesses of the Company. 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.

The most critical accounting policies, which reflect significant management estimates and judgment to determine amounts in these consolidated financial statements, are as follows:

Contracted concessional agreements and PPAs.

Impairment of intangible assets and property, plant and equipment.

Assessment of control.

Derivative financial instruments and fair value estimates.

Income taxes and recoverable amount of deferred tax assets.

As of the date of preparation of these consolidated financial statements, no relevant changes in the estimates made are anticipated and, therefore, no significant changes in the value of the assets and liabilities recognized at December 31, 2019, 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 income statement of the year in which the change occurs.

Financial information by segment

12 Months Ended

Dec. 31, 2019

Financial information by segment [Abstract]

Financial information by segment

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 contracted concessional assets are located:

North America

South America

EMEA

Based on the type of business, as of December 31, 2019 the Company had the following business sectors:

Renewable energy: Renewable energy assets include two solar plants in the United States, Solana and Mojave, each with a gross capacity of 280 MW and located in Arizona and California, respectively. The Company owns eight solar platforms in Spain: Solacor 1 and 2 with a gross capacity of 100 MW, PS10 and PS20 with a gross capacity of 31 MW, Solaben 2 and 3 with a gross capacity of 100 MW, Helioenergy 1 and 2 with a gross capacity of 100 MW, Helios 1 and 2 with a gross capacity of 100 MW, Solnova 1, 3 and 4 with a gross capacity of 150 MW, Solaben 1 and 6 with a gross capacity of 100 MW and Seville PV with a gross capacity of 1 MW. The Company also owns a solar plant in South Africa, Kaxu with a gross capacity of 100 MW. Additionally, the Company owns three wind farms in Uruguay, Palmatir, Cadonal and Melowind, with a gross capacity of 50 MW each, and a hydroelectric power plant in Peru with a gross capacity of 4 MW.

Efficient natural gas: Efficient natural gas assets include (i) ACT, a 300 MW cogeneration plant in Mexico, which is party to a 20-year take-or-pay contract with Pemex for the sale of electric power and steam, and (ii) a minority interest in Monterrey, a 142 MW gas-fired engine facility including 130 MW installed capacity and 12 MW battery capacity.

Electric transmission lines: Electric transmission assets include (i) three lines in Peru, ATN, ATS and ATN2, spanning a total of 1,029 miles; and (ii) four lines in Chile, Quadra 1, Quadra 2, Palmucho and Chile TL3, spanning a total of 137 miles.

Water: Water assets include a minority interest in two desalination plants in Algeria, Honaine and Skikda with an aggregate capacity of 10.5 M ft³ per day.

Atlantica’s Chief Operating Decision Maker (CODM) assesses the performance and assignment of resources according to the identified operating segments. The CODM considers the revenues as a measure of the business activity and the Further Adjusted EBITDA as a measure of the performance of each segment. Further Adjusted EBITDA is calculated as profit/(loss) for the period attributable to the parent company, after adding back loss/(profit) attributable to non-controlling interests from continued operations, income tax, share of profit/(loss) of associates carried under the equity method, finance expense net, depreciation, amortization and impairment charges of entities included in these consolidated financial statements, and compensations received from Abengoa in lieu of Abengoa Concessões Brasil Holding (“ACBH”) dividends (for the period up to the first quarter of 2017 only).

In order to assess performance of the business, the CODM receives reports of each reportable segment using revenues and Further 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.

In the years ended December 31, 2019 and December 31, 2018 Atlantica had four customers with revenues representing more than 10% of the total revenues, three in the renewable energy and one in the efficient natural gas business sectors.

The following tables show Revenues and Further Adjusted EBITDA by operating segments and business sectors for the years 2019, 2018 and 2017:

	Revenue						Further Adjusted EBITDA
	For the year ended December 31,						For the year ended December 31,
Geography	2019		2018		2017		2019		2018		2017
North America	$	332,965	$	357,177	$	332,705	$	305,085	$	308,748	$	282,328
South America		142,207		123,214		120,797		115,346		100,234		108,766
EMEA		536,280		563,431		554,879		390,774		441,625		388,216
Total	$	1,011,452	$	1,043,822	$	1,008,381	$	811,204	$	850,607	$	779,310

	Revenue						Further Adjusted EBITDA
	For the year ended December 31,						For the year ended December 31,
Business sectors	2019		2018		2017		2019		2018		2017
Renewable energy	$	761,090	$	793,557	$	767,226	$	603,666	$	664,428	$	569,193
Efficient natural gas		122,281		130,799		119,784		107,457		93,858		106,140
Electric transmission lines		103,453		95,998		95,096		85,657		78,461		87,695
Water		24,629		23,468		26,275		14,424		13,860		16,282
Total	$	1,011,452	$	1,043,822	$	1,008,381	$	811,204	$	850,607	$	779,310

The reconciliation of segment Further Adjusted EBITDA with the profit/(loss) attributable to the parent company is as follows:

	For the year ended December 31,
	2019			2018			2017
Profit/(Loss) attributable to the Company	$	62,135		$	41,596		$	(111,804	)
Profit attributable to non-controlling interests		12,473			13,673			6,917
Income tax		30,950			42,659			119,837
Share of profits/(losses) of associates		(7,457	)		(5,231	)		(5,351	)
Dividend from exchangeable preferred equity investment in ACBH (Note 21)		-			-			10,383
Financial expense, net		402,348			395,213			448,368
Depreciation, amortization, and impairment charges		310,755			362,697			310,960
Total segment Further Adjusted EBITDA	$	811,204		$	850,607		$	779,310

The assets and liabilities by operating segments (and business sector) at the end of 2019 and 2018 are as follows:

Assets and liabilities by geography as of December 31, 2019:

	North America		South America		EMEA		Balance as of December 31, 2019
Assets allocated
Contracted concessional assets		3,299,198		1,186,552		3,675,379		8,161,129
Investments carried under the equity method		90,847		-		49,078		139,925
Current financial investments		159,267		29,190		20,673		209,131
Cash and cash equivalents (project companies)		181,458		80,909		234,097		496,464
Subtotal allocated		3,730,771		1,296,652		3,979,227		9,006,649
Unallocated assets
Other non-current assets								239,553
Other current assets (including cash and cash equivalents at holding company level)								413,613
Subtotal unallocated								653,166
Total assets								9,659,815

	North America		South America		EMEA		Balance as of December 31, 2019
Liabilities allocated
Long-term and short-term project debt		1,676,251		884,835		2,291,262		4,852,348
Grants and other liabilities		1,490,679		12,864		138,209		1,641,752
Subtotal allocated		3,166,930		897,699		2,429,471		6,494,100
Unallocated liabilities
Long-term and short-term corporate debt								723,791
Other non-current liabilities								564,855
Other current liabilities								162,213
Subtotal unallocated								1,450,859
Total liabilities								7,944,959
Equity unallocated								1,714,856
Total liabilities and equity unallocated								3,165,715
Total liabilities and equity								9,659,815

Assets and liabilities by geography as of December 31, 2018:

	North America		South America		EMEA		Balance as of December 31, 2018
Assets allocated
Contracted concessional assets		3,453,652		1,210,624		3,884,905		8,549,181
Investments carried under the equity method		-		-		53,419		53,419
Current financial investments		147,213		61,959		30,080		239,252
Cash and cash equivalents (project companies)		195,678		41,316		287,456		524,450
Subtotal allocated		3,796,543		1,313,899		4,255,860		9,366,302
Unallocated assets
Other non-current assets								188,736
Other current assets (including cash and cash equivalents at holding company level)								363,993
Subtotal unallocated								552,729
Total assets								9,919,031

	North America		South America		EMEA		Balance as of December 31, 2018
Liabilities allocated
Long-term and short-term project debt		1,725,961		900,801		2,464,352		5,091,114
Grants and other liabilities		1,527,724		7,550		122,852		1,658,126
Subtotal allocated		3,253,685		908,351		2,587,204		6,749,240
Unallocated liabilities
Long-term and short-term corporate debt								684,073
Other non-current liabilities								523,827
Other current liabilities								205,779
Subtotal unallocated								1,413,679
Total liabilities								8,162,919
Equity unallocated								1,756,112
Total liabilities and equity unallocated								3,169,791
Total liabilities and equity								9,919,031

Assets and liabilities by business sectors as of December 31, 2019:

	Renewable energy		Efficient natural gas		Electric transmission lines		Water		Balance as of December 31, 2019
Assets allocated
Contracted concessional assets		6,644,024		559,069		872,757		85,280		8,161,129
Investments carried under the equity method		77,549		17,154		-		45,222		139,925
Current financial investments		13,798		148,723		28,237		18,373		209,131
Cash and cash equivalents (project companies)		421,198		11,850		53,868		9,548		496,464
Subtotal allocated		7,156,568		736,796		954,862		158,423		9,006,649
Unallocated assets
Other non-current assets										239,553
Other current assets (including cash and cash equivalents at holding company level)										413,613
Subtotal unallocated										653,166
Total assets										9,659,815

	Renewable energy		Efficient natural gas		Electric transmission lines		Water		Balance as of December 31, 2019
Liabilities allocated
Long-term and short-term project debt		3,658,507		529,350		640,160		24,331		4,852,348
Grants and other liabilities		1,634,361		146		6,517		728		1,641,752
Subtotal allocated		5,292,868		529,495		646,677		25,059		6,494,100
Unallocated liabilities
Long-term and short-term corporate debt										723,791
Other non-current liabilities										564,855
Other current liabilities										162,213
Subtotal unallocated										1,450,859
Total liabilities										7,944,959
Equity unallocated										1,714,856
Total liabilities and equity unallocated										3,165,715
Total liabilities and equity										9,659,815

Assets and liabilities by business sectors as of December 31, 2018:

	Renewable energy		Efficient natural gas		Electric transmission lines		Water		Balance as of December 31, 2018
Assets allocated
Contracted concessional assets		6,998,020		580,997		882,980		87,184		8,549,181
Investments carried under the equity method		10,257		-		-		43,162		53,419
Current financial investments		15,396		147,192		61,102		15,562		239,252
Cash and cash equivalents (project companies)		453,096		45,625		14,043		11,686		524,450
Subtotal allocated		7,476,769		773,814		958,125		157,594		9,366,302
Unallocated assets
Other non-current assets										188,736
Other current assets (including cash and cash equivalents at holding company level)										363,993
Subtotal unallocated										552,729
Total assets										9,919,031

	Renewable energy		Efficient natural gas		Electric transmission lines		Water		Balance as of December 31, 2018
Liabilities allocated
Long-term and short-term project debt		3,868,626		545,123		647,820		29,545		5,091,114
Grants and other liabilities		1,656,146		161		1,025		794		1,658,126
Subtotal allocated		5,524,772		545,284		648,845		30,339		6,749,240
Unallocated liabilities
Long-term and short-term corporate debt										684,073
Other non-current liabilities										523,827
Other current liabilities										205,779
Subtotal unallocated										1,413,679
Total liabilities										8,162,919
Equity unallocated										1,756,112
Total liabilities and equity unallocated										3,169,791
Total liabilities and equity										9,919,031

c)	The amount of depreciation, amortization and impairment charges recognized for the years ended December 31, 2019, 2018 and 2017 are as follows:

	For the year ended December 31,
Depreciation, amortization and impairment by geography	2019			2018			2017
North America		(116,232	)		(166,046	)		(123,726	)
South America		(47,844	)		(42,368	)		(40,880	)
EMEA		(146,679	)		(154,283	)		(146,354	)
Total		(310,755	)		(362,697	)		(310,960	)

	For the year ended December 31,
Depreciation, amortization and impairment by business sectors	2019			2018			2017
Renewable energy		(286,907	)		(323,538	)		(282,376	)
Electric transmission lines		(27,490	)		(28,925	)		(28,584	)
Efficient natural gas		3,102			(10,334	)		-
Water		541			100			-
Total		(310,755	)		(362,697	)		(310,960	)

Financial information by segment, Business sectors (Details) ft³ / d in Millions	12 Months Ended
	Dec. 31, 2019 ft³ / d MW Plant Line WindFarm SolarPlatform mi	Dec. 31, 2018 MW
Melowind [Member]
Financial information by segment [Abstract]
Gross capacity		50
United States [Member] \| Renewable Energy [Member] \| Solana [Member]
Financial information by segment [Abstract]
Number of contracted assets \| Plant	1
Gross capacity	280
United States [Member] \| Renewable Energy [Member] \| Mojave [Member]
Financial information by segment [Abstract]
Number of contracted assets \| Plant	1
Gross capacity	280
Spain [Member] \| Renewable Energy [Member]
Financial information by segment [Abstract]
Number of contracted assets \| SolarPlatform	8
Spain [Member] \| Renewable Energy [Member] \| PS10/PS20 [Member]
Financial information by segment [Abstract]
Gross capacity	31
Spain [Member] \| Renewable Energy [Member] \| Solacor 1 and Solacor 2 [Member]
Financial information by segment [Abstract]
Gross capacity	100
Spain [Member] \| Renewable Energy [Member] \| Solaben 2 and 3 [Member]
Financial information by segment [Abstract]
Gross capacity	100
Spain [Member] \| Renewable Energy [Member] \| Helioenergy 1 and 2 [Member]
Financial information by segment [Abstract]
Gross capacity	100
Spain [Member] \| Renewable Energy [Member] \| Helios 1 and 2 [Member]
Financial information by segment [Abstract]
Gross capacity	100
Spain [Member] \| Renewable Energy [Member] \| Solnova 1, 3 and 4 [Member]
Financial information by segment [Abstract]
Gross capacity	150
Spain [Member] \| Renewable Energy [Member] \| Solaben 1 and 6 [Member]
Financial information by segment [Abstract]
Gross capacity	100
Spain [Member] \| Renewable Energy [Member] \| Seville PV [Member]
Financial information by segment [Abstract]
Gross capacity	1
South Africa [Member] \| Renewable Energy [Member] \| Kaxu [Member]
Financial information by segment [Abstract]
Number of contracted assets \| Plant	1
Gross capacity	100
Uruguay [Member] \| Renewable Energy [Member] \| Palmatir [Member]
Financial information by segment [Abstract]
Number of contracted assets \| WindFarm	1
Gross capacity	50
Uruguay [Member] \| Renewable Energy [Member] \| Cadonal [Member]
Financial information by segment [Abstract]
Number of contracted assets \| WindFarm	1
Gross capacity	50
Uruguay [Member] \| Renewable Energy [Member] \| Melowind [Member]
Financial information by segment [Abstract]
Number of contracted assets \| WindFarm	1
Gross capacity	50
Mexico [Member] \| Efficient Natural Gas [Member] \| ACT [Member]
Financial information by segment [Abstract]
Gross capacity	300
Term of take-or-pay contract	20 years
Mexico [Member] \| Efficient Natural Gas [Member] \| Monterrey [Member]
Financial information by segment [Abstract]
Gross capacity	142
Installed capacity	130
Battery capacity	12
Peru [Member] \| Renewable Energy [Member]
Financial information by segment [Abstract]
Gross capacity	4
Peru [Member] \| Electric Transmission Lines [Member] \| ATN, ATS and ATN2 [Member]
Financial information by segment [Abstract]
Number of contracted assets \| Line	3
Length of transmission lines \| mi	1,029
Chile [Member] \| Electric Transmission Lines [Member] \| Quadra 1, Quadra 2, Palmucho and Chile TL3 [Member]
Financial information by segment [Abstract]
Number of contracted assets \| Line	4
Length of transmission lines \| mi	137
Algeria [Member] \| Water [Member] \| Honaine and Skikda [Member]
Financial information by segment [Abstract]
Number of contracted assets \| Plant	2
Aggregate capacity \| ft³ / d	10.5

Other operating income and expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other operating income [Abstract]
Grants	$ 59,142	$ 59,421	$ 59,707
Income from various services and insurance proceeds	34,632	34,181	21,137
Income from the purchase of the long-term operation and maintenance payable to Abengoa	0	38,955	0
Total	93,774	132,557	80,844
Other operating expenses [Abstract]
Raw materials and consumables used	(9,719)	(10,648)	(16,983)
Leases and fees	(1,850)	(1,716)	(6,641)
Operation and maintenance	(116,018)	(145,857)	(129,873)
Independent professional services	(41,579)	(43,229)	(36,178)
Supplies	(25,823)	(25,947)	(20,350)
Insurance	(23,971)	(24,227)	(24,289)
Levies and duties	(34,844)	(37,439)	(52,409)
Other expenses	(7,971)	(21,579)	(14,721)
Total	$ (261,776)	$ (310,642)	$ (301,444)

Project debt (Tables)

12 Months Ended

Dec. 31, 2019

Project debt [Abstract]

Project debt

The variations for 2019 and 2018 of project debt have been the following:

	Project debt - long term			Project debt - short term			Total
Balance as of December 31, 2018		4,826,659			264,455			5,091,114
Increases		53,222			280,005			333,226
Decreases		(19,272	)		(516,147	)		(535,418	)
Currency translation differences		(33,718	)		(2,855	)		(36,574	)
Reclassifications		(756,981	)		756,981			-
Balance as of December 31, 2019		4,069,909			782,439			4,852,348

	Project debt - long term			Project debt - short term			Total
Balance as of December 31, 2017		5,228,917			246,291			5,475,208
Increases		105,466			288,541			393,007
Decreases		(98,450	)		(522,317	)		(620,767	)
First time application of IFRS 9 effective January 1, 2018		(39,599	)		-			(39,599	)
Debt refinancing IFRS 9 impact		(36,642	)		-			(36,642	)
Change in the scope of the consolidated financial statements (Note 5)		79,016			2,346			81,362
Currency translation differences		(150,019	)		(12,436	)		(162,455	)
Reclassifications		(262,030	)		262,030			-
Balance as of December 31, 2018		4,826,659			264,455			5,091,114

Repayment schedule for project debt

2020				2021		2022		2023		2024		Subsequent years		Total
Interest Repayment		Nominal repayment
	12,799		256,620		262,787		293,642		319,962		335,067		3,371,724		4,852,348

Movement in project debt

The following table details the movement in Project debt for the year 2019, split between cash and non-cash items:

	January 1, 2019			Cash Flow			Non-cash changes			December 31, 2019
Project debt		5,091,114			(531,726	)		292,960			4,852,348

Foreign currency-denominated project debt

The equivalent in U.S. dollars of the most significant foreign-currency-denominated debts held by the Company is as follows:

	Balance as of December 31,
Currency	2019		2018
Euro		1,882,618		2,049,892
Algerian Dinar		24,331		29,545
South African Rand		384,313		384,915
Total		2,291,262		2,464,352

Earnings per share

12 Months Ended

Dec. 31, 2019

Earnings per share [Abstract]

Earnings per share

Note 22.- Earnings per share

	For the year ended December 31,
Item	2019		2018		2017
Profit/(loss) from continuing operations attributable to Atlantica Yield Plc.		62,135		41,596		(111,804	)
Average number of ordinary shares outstanding (thousands) - basic and diluted		101,063		100,217		100,217
Earnings per share from continuing operations (US dollar per share) - basic and diluted		0.61		0.42		(1.12	)
Earnings per share from profit/ (loss) for the period (US dollar per share) - basic and diluted		0.61		0.42		(1.12	)

Significant accounting policies, Asset impairment (Details)	Dec. 31, 2019
EMEA [Member]
Cash-generating units [Abstract]
Growth rate	0.00%
EMEA [Member] \| Bottom of Range [Member]
Cash-generating units [Abstract]
Discount rate	4.00%
EMEA [Member] \| Top of Range [Member]
Cash-generating units [Abstract]
Discount rate	6.00%
North America [Member]
Cash-generating units [Abstract]
Growth rate	0.00%
North America [Member] \| Bottom of Range [Member]
Cash-generating units [Abstract]
Discount rate	4.00%
North America [Member] \| Top of Range [Member]
Cash-generating units [Abstract]
Discount rate	5.00%
South America [Member]
Cash-generating units [Abstract]
Growth rate	0.00%
South America [Member] \| Bottom of Range [Member]
Cash-generating units [Abstract]
Discount rate	5.00%
South America [Member] \| Top of Range [Member]
Cash-generating units [Abstract]
Discount rate	7.00%

Other operating income and expenses

12 Months Ended

Dec. 31, 2019

Other operating income and expenses [Abstract]

Other operating income and expenses

Note 20.- Other operating income and expenses

The table below shows the detail of Other operating income and expenses for the years ended December 31, 2019, 2018 and 2017:

	For the twelve-month year ended December 31,
Other operating income		2019	2018	2017

Grants		59,142	59,421	59,707
Income from various services and insurance proceeds		34,632	34,181	21,137
Income from the purchase of the long-term operation and maintenance payable to Abengoa		-	38,955	-
Total		93,774	132,557	80,844

	For the twelve-month year ended December 31,
Other operating expenses	2019			2018			2017
Raw materials and consumables used		(9,719	)		(10,648	)		(16,983	)
Leases and fees		(1,850	)		(1,716	)		(6,641	)
Operation and maintenance		(116,018	)		(145,857	)		(129,873	)
Independent professional services		(41,579	)		(43,229	)		(36,178	)
Supplies		(25,823	)		(25,947	)		(20,350	)
Insurance		(23,971	)		(24,227	)		(24,289	)
Levies and duties		(34,844	)		(37,439	)		(52,409	)
Other expenses		(7,971	)		(21,579	)		(14,721	)
Total		(261,776	)		(310,642	)		(301,444	)

Grants income mainly relate to ITC cash grants and implicit grants recorded for accounting purposes in relation to the FFB loans with interest rates below market rates in Solana and Mojave projects (Note 16).

Other operating income in 2018 includes $39.0 million one-time gain in relation to the purchase from Abengoa of the long-term operation and maintenance payable accrued for the period up to December 31, 2017.

Schedule I, Condensed Financial Statements, of condensed financial position (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets [Abstract]
Cash and cash equivalents	$ 562,795	$ 631,542	$ 669,387	$ 594,811
Total assets	9,659,815	9,919,031
Liabilities and Equity [Abstract]
Total liabilities	7,944,959	8,162,919
Common Stock	10,160	10,022
Retained earnings	(385,457)	(449,274)
Total equity	1,714,856	1,756,112	1,895,453	1,959,111
Total equity and liabilities	9,659,815	9,919,031
Parent Company [Member]
Assets [Abstract]
Investment in affiliates	1,909,066	1,883,964
Loans to affiliates	500,871	605,778
Cash and cash equivalents	66,013	106,734	148,525	$ 122,154
Other assets	61,161	8,458
Total assets	2,537,111	2,604,934
Liabilities and Equity [Abstract]
Borrowings	695,874	426,748
Notes and bonds	27,917	257,325
Amounts owed to affiliates	192,601	138,222
Other liabilities	7,205	13,493
Total liabilities	923,597	835,788
Common Stock	10,160	10,022
Additional paid-in capital	1,011,743	1,481,881
Distributable reserves	889,056	548,059
Other reserves	(637)	0
Retained earnings	(296,808)	(270,816)
Total equity	1,613,514	1,769,146	$ 2,087,059
Total equity and liabilities	$ 2,537,111	$ 2,604,934

Consolidated cash flow statements - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Consolidated cash flows statements [Abstract]

Depreciation, amortization and impairment charges

$ 74,608

$ 55,269

$ (104,887)

Non-monetary adjustments

310,755

362,697

310,960

Financial (income)/expenses

405,634

396,411

443,517

Fair value (gains)/losses on derivative financial instruments

(613)

399

759

Shares of (profits)/losses from associates

(7,457)

(5,231)

(5,351)

Income tax

30,950

42,659

119,837

Changes in consolidation and other non-monetary items

(37,432)

(99,280)

(20,882)

II. Profit for the year adjusted by non monetary items

776,445

752,924

743,953

Variations in working capital

Inventories

(1,343)

(1,991)

(2,548)

Trade payables and other current liabilities

(71,505)

5,564

(23,799)

(36,533)

(4,898)

22,474

Financial investments and other current assets/liabilities

(3,970)

(17,019)

(4,924)

III. Variations in working capital

(113,351)

(18,344)

(8,797)

Income tax received/(paid)

(23)

(12,525)

(4,779)

Interest received

10,135

6,726

4,139

Interest paid

(309,625)

(327,738)

(348,893)

A. Net cash provided by/(used in) operating activities

363,581

401,043

385,623

Investments in entities under the equity method

30,443

4,432

3,003

Investments in contracted concessional assets

22,009

^[1]

68,048

^[1]

30,058

Other non-current assets/liabilities

2,703

(16,668)

8,183

(Acquisitions)/sales of subsidiaries and other financial instruments

(173,366)

(70,672)

30,124

B. Net cash (used in)/provided by investing activities

(118,211)

(14,860)

71,368

Proceeds from Project & Corporate debt

358,826

123,767

296,398

Repayment of Project & Corporate debt

(603,070)

(385,964)

(613,242)

Dividends paid to Company's shareholders

(159,002)

(133,289)

(94,845)

Dividends paid to Non-controlling interests

(29,239)

(9,745)

(4,638)

Non-controlling interests capital contribution

92,303

Capital increase

30,000

C. Net cash provided by/(used in) financing activities

(310,182)

(405,231)

(416,327)

Net increase/(decrease) in cash and cash equivalents

(64,812)

(19,048)

40,664

Cash and cash equivalents at beginning of the year

631,542

669,387

594,811

Translation differences cash and cash equivalents

(3,935)

(18,797)

33,912

Cash and cash equivalents at the end of the year

$ 562,795

$ 631,542

$ 669,387

[1]	Includes proceeds for $22.2 million, $72.6 million and $42.5 million in 2019, 2018 and 2017 respectively (Note 6).

Derivative financial instruments (Tables)

12 Months Ended

Dec. 31, 2019

Derivative financial instruments [Abstract]

Fair value amount of derivative financial instruments

The breakdowns of the fair value amount of the derivative financial instruments as of December 31, 2019 and 2018 are as follows:

	Balance as of December 31, 2019				Balance as of December 31, 2018
	Assets		Liabilities		Assets		Liabilities
Interest rate cash flow hedge		1,619		298,744		9,923		279,152
Foreign exchange derivatives instruments		3,610		-		3,230		-
Total		5,230		298,744		13,153		279,152

Maturities of notional and fair value amounts of interest rate derivatives designated as cash flow hedges

The table below shows a breakdown of the maturities of notional amounts of interest rate cash flow hedge derivatives as of December 31, 2019 and 2018.

Notionals	Balance as of December 31, 2019				Balance as of December 31, 2018
	Assets		Liabilities		Assets		Liabilities
Up to 1 year		43,266		117,574		42,846		93,440
Between 1 and 2 years		45,955		124,908		45,603		119,568
Between 2 and 3 years		49,259		240,570		48,774		234,572
Subsequent years		455,235		1,697,033		535,774		1,858,061
Total	$	593,715	$	2,180,085	$	672,997	$	2,305,641

The table below shows a breakdown of the maturity of the fair values of interest rate cash flow hedge derivatives as of December 31, 2019 and 2018:

Fair value	Balance as of December 31, 2019					Balance as of December 31, 2018
	Assets		Liabilities			Assets		Liabilities
Up to 1 year		118		(18,721	)		493		(11,848	)
Between 1 and 2 years		128		(19,787	)		524		(13,231	)
Between 2 and 3 years		140		(21,802	)		562		(15,151	)
Subsequent years		1,234		(238,434	)		8,344		(238,922	)
Total	$	1,619	$	(298,744	)	$	9,923	$	(279,152	)

Significant accounting policies (Policies)

12 Months Ended

Dec. 31, 2019

Significant accounting policies [Abstract]

Basis of preparation

2.1 Basis of preparation

Application of new accounting standards

Standards, interpretations and amendments effective from January 1, 2019 under IFRS-IASB, applied by the Company in the preparation of these consolidated financial statements:

IFRIC 23: Uncertainty over Income Tax Treatments. This Standard is applicable for annual periods beginning on or after January 1, 2019 under IFRS-IASB.

The applications of these amendments have not had any material impact on these consolidated financial statements.

b)	Standards, interpretations and amendments published by the IASB that will be effective for periods beginning on or after January 1, 2020:

IFRS 17 ‘Insurance Contracts’. This Standard is applicable for annual periods beginning on or after January 1, 2021 under IFRS-IASB, earlier application is permitted.

IFRS 3 (Amendment). Definition of Business. This amendment is mandatory for annual periods beginning on or after January 1, 2020 under IFRS-IASB, earlier application is permitted.

IAS 1 and IAS 8 (Amendment). Definition of Material. This amendment is mandatory for annual periods beginning on or after January 1, 2020 under IFRS-IASB, earlier application is permitted.

IAS 1 (Amendment). Classification of liabilities. This amendment is mandatory for annual periods beginning on or after January 1, 2022 under IFRS-IASB.

Amendments to References to the Conceptual Frameworks in IFRS Standards. This Standard is applicable for annual periods beginning on or after January 1, 2020 under IFRS-IASB.

Principles to include and record companies in the consolidated financial statements

2.2. Principles to include and record companies in the consolidated financial statements

Controlled entities

Control is achieved when the Company:

Has power over the investee;

Is exposed, or has rights, to variable returns from its involvement with the investee; and

Has the ability to use its power to affect its returns.

The Company reassesses whether or not it controls an investee when facts and circumstances indicate that there are changes to one or more of the three elements of control listed above.

All assets and liabilities between entities of the group, equity, income, expenses, and cash flows relating to transactions between entities of the group are eliminated in full.

Investments accounted for under the equity method

Controlled entities and associates included in these financial statements as of December 31, 2019 and 2018 are set out in appendices.

Contracted concessional assets and price purchase agreements

2.3. Contracted concessional assets and price purchase agreements

Under the terms of contractual arrangements within the scope of this interpretation, the operator shall recognize and measure revenue in accordance with IFRS 15 for the services it performs.

Intangible asset

Once the infrastructure is in operation, the treatment of income and expenses is as follows:

Operating and maintenance costs and general overheads and administrative costs are recorded in accordance with the nature of the cost incurred (amount due) in each period.

Financing costs are expensed as incurred.

Financial asset

Financing costs are expensed as incurred.

The key elements of the ECL calculations are the following:

the Probability of Default (“PD”) is an estimate of the likelihood of default over a given time horizon. Atlantica calculates PD based on Credit Default Swaps spreads (“CDS”);

the Exposure at Default (“EAD”) is an estimate of the exposure at a future default date;

Property, plant and equipment

Once the infrastructure is in operation, the treatment of income and expenses is the same as the one described above for intangible asset.

Right-of-use assets

Borrowing costs

2.4. Borrowing costs

Asset impairment

2.5. Asset impairment

When the carrying amount of the CGU to which these assets belong is higher than its recoverable amount, the assets are impaired.

Contracted concessional assets have a contractual structure that permits the Company to estimate quite accurately the costs of the project and revenue during the life of the project.

Accordingly, the following table provides a summary of the discount rates used (WACC) and growth rates to calculate the recoverable amount for CGUs with the operating segment to which it pertains:

Operating segment	Discount rate			Growth rate
EMEA		4% - 6	%		0	%
North America		4% - 5	%		0	%
South America		5% - 7	%		0	%

Loans and accounts receivable

2.6 Loans and accounts receivable

Loans and accounts receivable are non-derivative financial assets with fixed or determinable payments, not listed on an active market.

In accordance with IFRIC 12, certain assets under concessions qualify as financial assets and are recorded as is described in Note 2.3.

Pursuant to IFRS 9, an impairment loss is recognized if the carrying amount of these assets exceeds the present value of future cash flows discounted at the initial effective interest rate.

Derivative financial instruments and hedging activities

2.7. Derivative financial instruments and hedging activities

Derivatives are recorded at fair value. The Company applies hedge accounting to all hedging derivatives that qualify to be accounted for as hedges under IFRS-IASB.

Fair value estimates

2.8. Fair value estimates

Financial instruments measured at fair value are presented in accordance with the following level classification 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 3: Fair value is measured based on unobservable inputs for the asset or liability.

Atlantica derivatives correspond primarily to the interest rate swaps designated as cash flow hedges, which are classified as Level 2.

Description of the valuation method

Variables (Inputs)

Cash and cash equivalents

2.9. Trade and other receivables

2.10. Cash and cash equivalents

Grants

2.11. Grants

Loans and borrowings

2.12. Loans and borrowings

Bonds and notes

2.13. Bonds and notes

Income taxes

2.14. Income taxes

Deferred tax assets are recognized only when it is probable that sufficient future taxable profit will be available to use deferred tax assets.

Trade payables and other liabilities

2.15. Trade payables and other liabilities

Foreign currency transactions

2.16. Foreign currency transactions

Results of companies carried under the equity method are translated at the average annual exchange rate.

Equity

2.17. Equity

Non-controlling interest represents interest from other partners in entities included in these consolidated financial statements which are not fully owned by Atlantica as of the dates presented.

Parent company reserves together with the Share capital represent the Parent’s net investment in the entities included in these consolidated financial statements.

Provisions and contingencies

2.18. Provisions and contingencies

Provisions are recognized when:

there is a present obligation, either legal or constructive, as a result of past events;

it is more likely than not that there will be a future outflow of resources to settle the obligation; and

the amount has been reliably estimated.

Use of estimates

2.19. Use of estimates

The most critical accounting policies, which reflect significant management estimates and judgment to determine amounts in these consolidated financial statements, are as follows:

Contracted concessional agreements and PPAs.

Impairment of intangible assets and property, plant and equipment.

Assessment of control.

Derivative financial instruments and fair value estimates.

Income taxes and recoverable amount of deferred tax assets.

Grants and other liabilities (Details) $ in Thousands	12 Months Ended
Grants and other liabilities (Details) $ in Thousands	Dec. 31, 2019 USD ($) Type	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Oct. 02, 2013 USD ($)
Grants and other liabilities [Abstract]
Grants	$ 1,087,553	$ 1,150,805
Other liabilities	554,199	507,321
Grant and other non-current liabilities	$ 1,641,752	1,658,126
Number of grant types \| Type	2
Income from grants	$ 59,142	59,421	$ 59,707
Finance lease liabilities	87,900	92,000
Solana and Mojave [Member]
Grants and other liabilities [Abstract]
Income from grants	59,000	59,300
U.S. Department of Treasury [Member]
Grants and other liabilities [Abstract]
Grants	707,000	739,000
Federal Financing Bank [Member]
Grants and other liabilities [Abstract]
Grants	379,000	410,000
Liberty Interactive Corporation [Member]
Grants and other liabilities [Abstract]
Grant and other non-current liabilities	380,000	358,000
Class A membership investment				$ 300,000
Finance lease liabilities	54,000	57,000
Dismantling provision	$ 60,000	$ 57,000

Trade and other receivables (Tables)

12 Months Ended

Dec. 31, 2019

Trade and other receivables [Abstract]

Trade receivables in foreign currency

Trade and other receivable as of December 31, 2019 and 2018, consist of the following:

	Balance as of December 31,
	2019		2018
Trade receivables		242,008		163,856
Tax receivables		50,901		54,959
Prepayments		5,150		5,521
Other accounts receivable		19,508		12,059
Total		317,568		236,395

Trade receivables in foreign currency as of December 31, 2019 and 2018, are as follows:

	Balance as of December 31,
	2019		2018
Euro		108,280		91,303
South African Rand		24,289		25,193
Other		4,001		9,884
Total		136,570		126,380

Other information (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 26, 2020	Dec. 31, 2019
Restricted Net Assets [Abstract]
Restricted net assets		$ 789
Subsequent Events [Member]
Subsequent Events [Abstract]
Dividends approved (in dollars per share)	$ 0.41
Dividend approved expected date to be paid	Mar. 23, 2020

Financial information by segment, Depreciation, amortization and impairment charges recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financial information by segment [Abstract]
Depreciation, amortization and impairment charges	$ (310,755)	$ (362,697)	$ (310,960)
Renewable Energy [Member]
Financial information by segment [Abstract]
Depreciation, amortization and impairment charges	(286,907)	(323,538)	(282,376)
Electric Transmission Lines [Member]
Financial information by segment [Abstract]
Depreciation, amortization and impairment charges	(27,490)	(28,925)	(28,584)
Efficient Natural Gas [Member]
Financial information by segment [Abstract]
Depreciation, amortization and impairment charges	3,102	(10,334)	0
Water [Member]
Financial information by segment [Abstract]
Depreciation, amortization and impairment charges	541	100	0
North America [Member]
Financial information by segment [Abstract]
Depreciation, amortization and impairment charges	(116,232)	(166,046)	(123,726)
South America [Member]
Financial information by segment [Abstract]
Depreciation, amortization and impairment charges	(47,844)	(42,368)	(40,880)
EMEA [Member]
Financial information by segment [Abstract]
Depreciation, amortization and impairment charges	$ (146,679)	$ (154,283)	$ (146,354)

Schedule I, Condensed Financial Statements, of condensed income statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income from [Abstract]
Total income	$ 1,011,452	$ 1,043,822	$ 1,008,381
Expenses [Abstract]
Other operating expenses	(261,776)	(310,642)	(301,444)
Profit/(loss) before income tax	105,558	97,928	14,950
Income tax benefits/(expense)	(30,950)	(42,659)	(119,837)
Profit/(loss) for the year attributable to the Company	62,135	41,596	(111,804)
Parent Company [Member]
Income from [Abstract]
Services	49,622	54,743	123,944
Other financial income	12,772	4,334	17,419
Total income	62,394	59,077	141,363
Expenses [Abstract]
Other operating expenses	(26,120)	(189,116)	(21,173)
Interests Credit entities	(46,781)	(42,321)	(46,292)
Other financial expenses	(15,485)	(12,083)	(21,333)
Total expenses	(88,386)	(243,520)	(88,798)
Profit/(loss) before income tax	(25,992)	(184,443)	52,565
Income tax benefits/(expense)	0	0	0
Profit/(loss) for the year attributable to the Company	$ (25,992)	$ (184,443)	$ 52,565

Changes in the scope of the consolidated financial statements (Tables)

12 Months Ended

Dec. 31, 2019

Changes in the scope of the consolidated financial statements [Abstract]

Amount of assets and liabilities integrated at the effective acquisition date

The amount of assets and liabilities integrated at the effective acquisition date for the aggregated change in scope is shown in the following table:

	Asset Acquisition for the year ended December 31, 2019
Concessional assets (Note 6)		28,738
Investments carried under the equity method (Note 7)		113,897
Other non-current assets		25,342
Current assets		1,503
Deferred tax liabilities (Note 18)		(2,539	)
Other current and non-current liabilities		(1,512	)
Non-controlling interests		(92,303	)
Asset acquisition - purchase price		(73,126	)
Net result of the asset acquisition		-

The amount of assets and liabilities integrated at the effective acquisition date for the aggregated change in scope is shown in the following table:

	Asset Acquisition for the year ended December 31, 2018
Concessional assets (Note 6)		155,909
Investments carried under the equity method (Note 7)		1
Current assets		5,646
Project debt long term (Note 15)		(79,016	)
Deferred tax liabilities (Note 18)		(590	)
Project debt short term (Note 15)		(2,346	)
Other current and non-current liabilities		(3,000	)
Asset acquisition - purchase price		(76,604	)
Net result of the asset acquisition		-

Other operating income and expenses (Tables)

12 Months Ended

Dec. 31, 2019

Other operating income and expenses [Abstract]

Other operating income

The table below shows the detail of Other operating income and expenses for the years ended December 31, 2019, 2018 and 2017:

	For the twelve-month year ended December 31,
Other operating income		2019	2018	2017

Grants		59,142	59,421	59,707
Income from various services and insurance proceeds		34,632	34,181	21,137
Income from the purchase of the long-term operation and maintenance payable to Abengoa		-	38,955	-
Total		93,774	132,557	80,844

Other operating expenses

	For the twelve-month year ended December 31,
Other operating expenses	2019			2018			2017
Raw materials and consumables used		(9,719	)		(10,648	)		(16,983	)
Leases and fees		(1,850	)		(1,716	)		(6,641	)
Operation and maintenance		(116,018	)		(145,857	)		(129,873	)
Independent professional services		(41,579	)		(43,229	)		(36,178	)
Supplies		(25,823	)		(25,947	)		(20,350	)
Insurance		(23,971	)		(24,227	)		(24,289	)
Levies and duties		(34,844	)		(37,439	)		(52,409	)
Other expenses		(7,971	)		(21,579	)		(14,721	)
Total		(261,776	)		(310,642	)		(301,444	)

Financial information by segment, Reconciliation of segment Further Adjusted EBITDA (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financial information by segment [Abstract]
Profit/(Loss) attributable to the Company	$ 62,135	$ 41,596	$ (111,804)
Profit attributable to non-controlling interests	(12,473)	(13,673)	(6,917)
Income tax	30,950	42,659	119,837
Share of profits/(losses) of associates	7,457	5,231	5,351
Dividend from exchangeable preferred equity investment in ACBH (Note 21)	0	0	10,383
Financial expense, net	402,348	395,213	448,368
Depreciation, amortization, and impairment charges	310,755	362,697	310,960
Total segment Further Adjusted EBITDA	811,204	850,607	779,310
Reconciling Item [Member]
Financial information by segment [Abstract]
Profit/(Loss) attributable to the Company	62,135	41,596	(111,804)
Profit attributable to non-controlling interests	12,473	13,673	6,917
Income tax	30,950	42,659	119,837
Share of profits/(losses) of associates	(7,457)	(5,231)	(5,351)
Dividend from exchangeable preferred equity investment in ACBH (Note 21)	0	0	10,383
Financial expense, net	402,348	395,213	448,368
Depreciation, amortization, and impairment charges	310,755	362,697	310,960
Allocated [Member]
Financial information by segment [Abstract]
Total segment Further Adjusted EBITDA	$ 811,204	$ 850,607	$ 779,310

Financial risk management

12 Months Ended

Dec. 31, 2019

Financial risk management [Abstract]

Financial risk management

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 Finance and Compliance Departments, which are responsible for identifying and evaluating financial risks quantifying them by project, region and company, in accordance with mandatory internal management rules. Written internal policies exist for global risk management, as well as for specific areas of risk. In addition, there are official written management regulations regarding key controls and control procedures for each company and the implementation of these controls is monitored through internal audit procedures.

Market risk

The Company is exposed to market risk, such as movement in foreign exchange rates and interest rates. All of these market risks arise in the normal course of business and the Company does not carry out speculative operations. For the purpose of managing these risks, the Company uses a series of interest rate swaps and options, and currency options. None of the derivative contracts signed has an unlimited loss exposure.

Interest rate risk

Interest rate risk arises when the Company’s activities are exposed to changes in interest rates, which arises from financial liabilities at variable interest rates. The main interest rate exposure for the Company relates to the variable interest rate with reference to the Libor and Euribor. To minimize the interest rate risk, the Company primarily uses interest rate swaps and interest rate options (caps), which, in exchange for a fee, offer protection against an increase in interest rates. The Company does not use derivatives for speculative purposes.

As a result, the notional amounts hedged, strikes contracted and maturities, depending on the characteristics of the debt on which the interest rate risk is being hedged, are very diverse, including the following:

Project debt in Euros: the Company hedges between 81% and 100% of the notional amount, maturities until 2030 and average guaranteed strike interest rates of between 0.89% and 4.87%.

Project debt in U.S. dollars: the Company hedges between 70% and 100% of the notional amount, including maturities until 2034 and average guaranteed strike interest rates of between 1.98% and 5.27%.

In connection with the interest rate derivative positions of the Company, the most significant impacts on these consolidated financial statements are derived from the changes in EURIBOR or LIBOR, which represent the reference interest rate for most of the debt of the Company. In the event that Euribor and Libor had risen by 25 basis points as of December 31, 2019, with the rest of the variables remaining constant, the effect in the consolidated income statement would have been a loss of $2,745 thousand (a loss of $2,731 thousand in 2018 and a loss of $1,066 thousand in 2017) and an increase in hedging reserves of $27,570 thousand ($32,928 thousand in 2018 and $39,142 thousand in 2017). The increase in hedging reserves would be mainly due to an increase in the fair value of interest rate swaps designated as hedges.

A breakdown of the interest rates derivatives as of December 31, 2019 and 2018, is provided in Note 9.

Currency risk

The main cash flows in the entities included in these consolidated financial statements are cash collections arising from long-term contracts with clients and debt payments arising from project finance repayment. Given that financing of the projects is always closed in the same currency in which the contract with client is signed, a natural hedge exists for the main operations of the Company.

In addition, the Company policy is to contract currency options with leading financial institutions, which guarantee a minimum Euro-U.S. dollar exchange rate on the net distributions expected from Spanish solar assets. The net Euro exposure is 100% covered for the coming 12 months and 75% for the following 12 months on a rolling basis.

Credit risk

The Company considers that it has a limited credit risk with clients as revenues derive from power purchase agreements with electric utilities and state-owned entities. On January 29, 2019, PG&E, the off-taker for Atlantica with respect to the Mojave plant, filed for reorganization under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of California (the “Bankruptcy Court”). As a consequence, PG&E did not pay the portion of the invoice corresponding to the electricity delivered for the period between January 1 and January 28, 2019, which was due on February 25, given that the services relate to the pre-petition period and any payment therefore would require approval by the Bankruptcy Court. However, PG&E has paid all invoices corresponding to the electricity delivered after January 28 and has continued to be in compliance with the remaining terms and conditions of the PPA.

Liquidity risk

Atlantica’s liquidity and financing policy is intended to ensure that the Company maintains sufficient funds to meet our financial obligations as they fall due.

Project finance borrowing permits the Company to finance the project through project debt and thereby insulate the rest of its assets from such credit exposure. The Company incurs in project-finance debt on a project-by-project basis.

The repayment profile of each project is established on the basis of the projected cash flow generation of the business. This ensures that sufficient financing is available to meet deadlines and maturities, which mitigates the liquidity risk significantly.

Contracted concessional assets (Tables)

12 Months Ended

Dec. 31, 2019

Contracted concessional assets [Abstract]

Movements of contracted concessional assets

The following table shows the movements of contracted concessional assets included in the heading “Contracted Concessional assets” for 2019:

Cost

Total as of January 1, 2019	10,475,828
Additions	1,431
Subtractions	(23,186	)
Change in the scope of the consolidated financial statements (Note 5)	28,738
Translation differences	(81,941	)
Reclassification and other movements	(16,273	)
Total as of December 31, 2019	10,384,597

Accumulated amortization

Total as of January 1, 2019	(1,926,647	)
Additions	(310,755	)
Translation differences	15,778
Reclassification and other movements	(1,844	)
Total accum. amort. as of December 31, 2019	(2,223,468	)
Net balance at December 31, 2019	8,161,129

The following table shows the movements of contracted concessional assets included in the heading “Contracted Concessional assets” for 2018:

Cost

Total as of January 1, 2018	10,633,769
Additions	10,463
Application of IFRS 16 – Leases effective January 1, 2018	62,982
Subtractions	(92,814	)
Change in the scope of the consolidated financial statements (Note 5)	170,040
Translation differences	(280,680	)
Reclassification and other movements	(27,932	)
Total as of December 31, 2018	10,475,828

Accumulated amortization

Total as of January 1, 2018	(1,549,499	)
Application of IFRS9 - Expected Credit Losses effective January 1, 2018	(53,048	)
Additions	(362,697	)
Change in the scope of the consolidated financial statements (Note 5)	(14,131	)
Translation differences	52,728
Total accum. amort. as of December 31, 2018	(1,926,647	)
Net balance at December 31, 2018	8,549,181

Investments carried under the equity method, Movement of the investments held in associates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Investments in associates [Abstract]
Initial balance	$ 53,419	$ 55,784
Share of (loss)/profit	7,457	5,231
Dividend distribution	(30,528)	(4,463)
Equity distribution	(6,252)	(122)
Change in the scope of the consolidated financial statements (Note 5)	113,897	0
Others (incl. currency translation differences)	1,932	(3,011)
Final balance	$ 139,925	$ 53,419

Financial information by segment, Assets and liabilities by business sectors (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets allocated [Abstract]
Contracted concessional assets	$ 8,161,129	$ 8,549,181
Investments carried under the equity method	139,925	53,419	$ 55,784
Current financial investments	218,577	240,834
Cash and cash equivalents (project companies)	562,795	631,542	669,387	$ 594,811
Total assets	9,659,815	9,919,031
Liabilities allocated [Abstract]
Long-term and short-term project debt	4,852,348	5,091,114	5,475,208
Grants and other liabilities	1,641,752	1,658,126
Long-term and short-term corporate debt	723,791	684,073
Total liabilities	7,944,959	8,162,919
Equity	1,714,856	1,756,112	$ 1,895,453	$ 1,959,111
Total liabilities and equity	9,659,815	9,919,031
Renewable Energy [Member]
Assets allocated [Abstract]
Contracted concessional assets	6,644,024	6,998,020
Investments carried under the equity method	77,549	10,257
Current financial investments	13,798	15,396
Cash and cash equivalents (project companies)	421,198	453,096
Total assets	7,156,568	7,476,769
Liabilities allocated [Abstract]
Long-term and short-term project debt	3,658,507	3,868,626
Grants and other liabilities	1,634,361	1,656,146
Total liabilities	5,292,868	5,524,772
Efficient Natural Gas [Member]
Assets allocated [Abstract]
Contracted concessional assets	559,069	580,997
Investments carried under the equity method	17,154	0
Current financial investments	148,723	147,192
Cash and cash equivalents (project companies)	11,850	45,625
Total assets	736,796	773,814
Liabilities allocated [Abstract]
Long-term and short-term project debt	529,350	545,123
Grants and other liabilities	146	161
Total liabilities	529,495	545,284
Electric Transmission Lines [Member]
Assets allocated [Abstract]
Contracted concessional assets	872,757	882,980
Investments carried under the equity method	0	0
Current financial investments	28,237	61,102
Cash and cash equivalents (project companies)	53,868	14,043
Total assets	954,862	958,125
Liabilities allocated [Abstract]
Long-term and short-term project debt	640,160	647,820
Grants and other liabilities	6,517	1,025
Total liabilities	646,677	648,845
Water [Member]
Assets allocated [Abstract]
Contracted concessional assets	85,280	87,184
Investments carried under the equity method	45,222	43,162
Current financial investments	18,373	15,562
Cash and cash equivalents (project companies)	9,548	11,686
Total assets	158,423	157,594
Liabilities allocated [Abstract]
Long-term and short-term project debt	24,331	29,545
Grants and other liabilities	728	794
Total liabilities	25,059	30,339
Allocated [Member]
Assets allocated [Abstract]
Contracted concessional assets	8,161,129	8,549,181
Investments carried under the equity method	139,925	53,419
Current financial investments	209,131	239,252
Cash and cash equivalents (project companies)	496,464	524,450
Total assets	9,006,649	9,366,302
Liabilities allocated [Abstract]
Long-term and short-term project debt	4,852,348	5,091,114
Grants and other liabilities	1,641,752	1,658,126
Total liabilities	6,494,100	6,749,240
Unallocated [Member]
Assets allocated [Abstract]
Other non-current assets	239,553	188,736
Other current assets (including cash and cash equivalents at holding company level)	413,613	363,993
Total assets	653,166	552,729
Liabilities allocated [Abstract]
Long-term and short-term corporate debt	723,791	684,073
Other non-current liabilities	564,855	523,827
Other current liabilities	162,213	205,779
Total liabilities	1,450,859	1,413,679
Equity	1,714,856	1,756,112
Total liabilities and equity	$ 3,165,715	$ 3,169,791

Other information	12 Months Ended
Other information	Dec. 31, 2019
Other information [Abstract]
Other information	Note 23.- Other information 23.1 Restricted Net assets Certain of the consolidated entities are restricted from remitting certain funds to Atlantica Yield plc. as a result of a number of regulatory, contractual or statutory requirements. These restrictions are mainly related to standard requirements to maintain debt service coverage ratios and other requirements from the financing arrangements. In addition, the Company considered Mojave´s net assets as restricted since PG&E filed for reorganization under Chapter 11, resulting in a technical event of default being triggered under Mojave´s project finance agreement in July 2019. At December 31, 2019, the accumulated amount of the temporary restrictions for the entire restricted term of these affiliates was $789 million. The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S-X Rule 12-04 and concluded the restricted net assets exceeded 25% of the consolidated net assets of the Company as of December 31, 2019. Therefore, the separate financial statements of Atlantica Yield, Plc. do have to be presented (see Appendix V (Schedule I) for details). 23.2. United Kingdom’s exit from the European Union On January 31, 2020, the United Kingdom (“UK”) ceased to be part of the European Union (“EU”) and entered into a transition period to, among other things, negotiate an agreement with the EU on the future terms of the UK´s relationship with the EU. The transition period is currently expected to end on December 31, 2020. As of the date of this report, the UK and the EU have not reached an agreement. Therefore, the impact of the UK’s departure from, and future relationship with the EU are uncertain. 23.3 Subsequent events On February 26, 2020, the Board of Directors of the Company approved a dividend of $0.41 per share, which is expected to be paid on March 23, 2020.

Changes in the scope of the consolidated financial statements

12 Months Ended

Dec. 31, 2019

Changes in the scope of the consolidated financial statements [Abstract]

Changes in the scope of the consolidated financial statements

Note 5.- Changes in the scope of the consolidated financial statements

For the year ended December 31, 2019

On May 24, 2019, Atlantica and Algonquin formed Atlantica Yield Energy Solutions Canada Inc. (“AYES Canada”), a vehicle to channel co-investment opportunities in which Atlantica holds the majority of voting rights. The first investment was in Amherst Island, a 75 MW wind plant in Canada owned by the project company Windlectric, Inc. (“Windlectric”). Atlantica invested $4.9 million and Algonquin invested $92.3 million, both through AYES Canada, which in turn invested those funds in Amherst Island Partnership (“AIP”), the holding company of Windlectric. Atlantica accounts for the investment in AIP and ultimately Windlectric under the equity method as per IAS 28, Investments in Associates and Joint Ventures. Since Atlantica has control over AYES Canada under IFRS 10 “Consolidated Financial Statements”, its consolidated financial statements initially showed a total investment in the Amherst Island project of $97.2 million, accounted for as “Investments carried under the equity method” (Note 7) and Algonquin’s portion of that investment of $92.3 million as “Non-controlling interest”.

On August 2, 2019, the Company closed the acquisition of a 30% stake in Monterrey, a 142 MW gas-fired engine facility with batteries. The total investment amounted to $42 million, out of which $17 million is an equity investment, and the rest is a shareholder loan classified as financial investments in these consolidated financial statements. The acquisition has been accounted for in the consolidated accounts of Atlantica, in accordance with IAS 28, Investments in Associates.

On August 2, 2019, the Company closed the acquisition of a 100% stake in ASI Operations LLC (“ASI Ops”), the company that performs the operation and maintenance services for the Solana and Mojave plants. The total equity investment amounted to $6 million. The acquisition has been accounted for in the consolidated financial statements of Atlantica, in accordance with IFRS 3, Business Combinations.

On October 22, 2019, the Company closed the acquisition of ATN Expansion 2 from Enel Green Power Peru, for a total equity investment of $20 million, controlling the asset from this date. Transfer of the concession agreement is pending authorization from the Ministry of Energy in Peru. If this authorization were not to be obtained within an eight-month period from the acquisition date, the transaction would be reversed with no penalties to Atlantica. Enel Green Power Peru issued a bank guarantee to face this potential repayment obligation to Atlantica. The purchase has been accounted for in the consolidated accounts of Atlantica, in accordance with IFRS 3, Business Combinations.

Impact of changes in the scope in the consolidated financial statements

The amount of assets and liabilities integrated at the effective acquisition date for the aggregated change in scope is shown in the following table:

	Asset Acquisition for the year ended December 31, 2019
Concessional assets (Note 6)		28,738
Investments carried under the equity method (Note 7)		113,897
Other non-current assets		25,342
Current assets		1,503
Deferred tax liabilities (Note 18)		(2,539	)
Other current and non-current liabilities		(1,512	)
Non-controlling interests		(92,303	)
Asset acquisition - purchase price		(73,126	)
Net result of the asset acquisition		-

The allocation of the purchase prices is provisional as of December 31, 2019 for some of the acquisitions. As such, the amounts indicated 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 December 31, 2019. The measurement period will not exceed one year from the acquisition dates.

The amount of revenue contributed by the acquisitions performed during 2019 to the consolidated financial statements of the Company for the year 2019 is $0.3 million, and the amount of profit after tax is $0.5 million. Had the acquisitions been consolidated from January 1, 2019, the consolidated statement of comprehensive income would have included additional revenue of $2.3 million and additional loss after tax of $2.4 million.

For the year ended December 31, 2018

On February 28, 2018, the Company completed the acquisition of a 100% stake in Hidrocañete, S.A. (Mini-Hydro). Total purchase price for this asset amounted to $9.3 million. The purchase was accounted for in the consolidated accounts of Atlantica, in accordance with IFRS 3, Business Combinations.

On October 10, 2018, the Company completed the acquisition of a 5% stake in Gas CA-KU-A1, S.A.P.I de C.V. (Pemex Transportation System or “PTS”). The purchase was accounted for in the consolidated accounts of Atlantica, in accordance with IAS 28, Investments in Associates. Consideration for the initial 5% will amount to approximately $7 million and will be disbursed progressively. The project is expected to enter operation in the first half of 2020.

On December 11, 2018, the Company completed the acquisition of a transmission line in Chile (Chile TL3). The total purchase price for this asset amounted to $6.0 million. The purchase was accounted for in the consolidated accounts of Atlantica, in accordance with IFRS 3, Business Combinations.

On December 13, 2018, the Company completed the acquisition of a 100% stake in Estrellada, S.A. (Melowind). Total purchase price for this asset amounted to $45.3 million. The purchase was accounted for in the consolidated accounts of Atlantica, in accordance with IFRS 3, Business Combinations.

On December 28, 2018, the Company completed the acquisition of a power substation and two small transmission lines in Peru, being an expansion of the ATN transmission line (“ATN Expansion 1”). Total purchase price for this asset amounted to $16.0 million. The purchase was accounted for in the consolidated accounts of Atlantica, in accordance with IFRS 3, Business Combinations.

Impact of changes in the scope in the consolidated financial statements

The amount of assets and liabilities integrated at the effective acquisition date for the aggregated change in scope is shown in the following table:

	Asset Acquisition for the year ended December 31, 2018
Concessional assets (Note 6)		155,909
Investments carried under the equity method (Note 7)		1
Current assets		5,646
Project debt long term (Note 15)		(79,016	)
Deferred tax liabilities (Note 18)		(590	)
Project debt short term (Note 15)		(2,346	)
Other current and non-current liabilities		(3,000	)
Asset acquisition - purchase price		(76,604	)
Net result of the asset acquisition		-

The allocation of the purchase prices was provisional as of December 31, 2018 for some of the acquisitions that were made effective near to year end. No significant adjustments were made in 2019 to the amounts indicated in the table above during the measurement period (one year from the acquisition dates).

The amount of revenue contributed by the acquisitions performed during 2018 to the consolidated financial statements of the Company for the year 2018 was $1.8 million, and the amount of loss after tax was $0.3 million. Had the acquisitions been consolidated from January 1, 2018, the consolidated statement of comprehensive income would have included additional revenue of $13.3 million and additional loss after tax of $0.7 million.

Cash and cash equivalents (Tables)

12 Months Ended

Dec. 31, 2019

Cash and cash equivalents [Abstract]

Cash and cash equivalents

The following table shows the detail of Cash and cash equivalents as of December 31, 2019 and 2018:

	Balance as of December 31,
	2019		2018
Cash at bank and on hand - non restricted		223,867		335,114
Cash at bank and on hand - restricted		338,928		296,428
Total		562,795		631,542

The following breakdown shows the main currencies in which cash and cash equivalent balances are denominated:

	Balance as of December 31,
Currency	2019		2018
U.S. dollar		313,678		328,716
Euro		181,961		228,036
Algerian Dinar		9,301		11,602
South African Rand		47,679		55,257
Others		10,176		7,931
Total		562,795		631,542

Commitments, third-party guarantees, contingent assets and liabilities (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Jan. 31, 2019

$ 723,791

$ 684,073

4,105,915

4,314,307

746,433

776,807

Accrued interest estimate during the useful life of loans

^[1]

2,991,432

3,082,495

2,472,070

2,743,132

Lease commitments

93,000

97,400

Current lease commitments

5,100

5,400

Non-current lease commitments

87,900

92,000

Third-party Guarantees [Abstract]

Bank Bond and Surety Insurance deposited as guarantee

38,200

32,400

Issuance of guarantees previously issued by Abengoa

$ 130,100

60,500

Abengoa [Member]

Amount withdrawn from escrow

$ 2,500

Other matters [Abstract]

Term of financial support agreement

5 years

Abengoa [Member] | Mexico [Member]

Estimated maximum potential exposure

$ 35,000

Amount held in escrow

2,500

2019 and 2020 [Member]

28,706

268,905

241,116

233,214

28,304

31,241

Accrued interest estimate during the useful life of loans

^[1]

129,595

131,417

294,676

314,984

2020/2021 and 2020/2022 [Member]

200,504

107,560

504,921

476,191

51,508

49,445

Accrued interest estimate during the useful life of loans

^[1]

278,418

264,461

549,320

565,040

2022/2023 and 2023/2024 [Member]

200,926

205,258

598,837

571,374

56,192

54,879

Accrued interest estimate during the useful life of loans

^[1]

269,632

259,775

471,535

492,932

Subsequent [Member]

293,655

102,350

2,761,041

3,033,528

610,429

641,242

Accrued interest estimate during the useful life of loans

^[1]

2,313,787

2,426,842

1,156,539

$ 1,370,176

Pemex [Member]

Estimated claims

20,000

Arb Inc. [Member]

Amount of settlement payments

4,300

Group of Insurance Companies [Member] | Top of Range [Member]

Estimated claims

200,000

Solana [Member]