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Fixed assets | 12 Months Ended
--- | ---
Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [abstract] |
Fixed assets | Note 8 - Fixed assets
|  |  |  |  |  |  |  |  |  |  | Office |  |  |  |  |  |  |
|  | Photovoltaic |  |  | Pumped |  |  | Biogas |  |  | furniture and |  |  | Leasehold |  |  |  |
|  | Plants |  |  | storage |  |  | installations |  |  | equipment |  |  | Improvements |  |  | Total |
|  | € in thousands |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as at January 1, 2019 |  |  | 98,289 |  |  |  | - |  |  |  | 18,656 |  |  |  | 138 |  |  |  | 52 |  |  |  | 117,135 |
Additions |  |  | *73,402 |  |  |  | - |  |  |  | 932 |  |  |  | 9 |  |  |  | - |  |  |  | 74,343 |
Disposals |  |  | *(68,908 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (68,908 | )
Effect of changes in exchange rates |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1 |
Balance as at December 31, 2019 |  |  | 102,784 |  |  |  | - |  |  |  | 19,588 |  |  |  | 147 |  |  |  | 52 |  |  |  | 122,571 |
Balance as at January 1, 2020 |  |  | 102,784 |  |  |  | - |  |  |  | 19,588 |  |  |  | 147 |  |  |  | 52 |  |  |  | 122,571 |
Additions |  |  | 120,842 |  |  |  | 16,607 |  |  |  | 558 |  |  |  | 38 |  |  |  | - |  |  |  | 138,045 |
New companies |  |  | - |  |  |  | - |  |  |  | 17,233 |  |  |  | - |  |  |  | - |  |  |  | 17,233 |
Disposals |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (52 | ) |  |  | (52 | )
Effect of changes in exchange rates |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (5 | ) |  |  | - |  |  |  | (5 | )
Balance as at December 31, 2020 |  |  | 223,626 |  |  |  | 16,607 |  |  |  | 37,379 |  |  |  | 180 |  |  |  | - |  |  |  | 277,792 |
Depreciation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as at January 1, 2019 |  |  | 28,550 |  |  |  | - |  |  |  | 1,192 |  |  |  | 121 |  |  |  | 52 |  |  |  | 29,915 |
Depreciation for the year |  |  | 4,383 |  |  |  | - |  |  |  | 1,353 |  |  |  | 8 |  |  |  | - |  |  |  | 5,744 |
Disposals |  |  | *(27,477 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (27,477 | )
Balance as at December 31, 2019 |  |  | 5,456 |  |  |  | - |  |  |  | 2,545 |  |  |  | 129 |  |  |  | 52 |  |  |  | 8,182 |
Balance as at January 1, 2020 |  |  | 5,456 |  |  |  | - |  |  |  | 2,545 |  |  |  | 129 |  |  |  | 52 |  |  |  | 8,182 |
Depreciation for the year |  |  | 830 |  |  |  | - |  |  |  | 1,457 |  |  |  | 12 |  |  |  | - |  |  |  | 2,299 |
New companies |  |  | - |  |  |  | - |  |  |  | 3,272 |  |  |  | - |  |  |  | - |  |  |  | 3,272 |
Disposals |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (52 | ) |  |  | (52 | )
Effect of changes in exchange rates |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (4 | ) |  |  | - |  |  |  | (4 | )
Balance as at December 31, 2020 |  |  | 6,286 |  |  |  | - |  |  |  | 7,274 |  |  |  | 137 |  |  |  | - |  |  |  | 13,697 |
Carrying amounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As at January 1, 2019 |  |  | 69,739 |  |  |  | - |  |  |  | 17,464 |  |  |  | 17 |  |  |  | - |  |  |  | 87,220 |
As at December 31, 2019 |  |  | 97,328 |  |  |  | - |  |  |  | 17,043 |  |  |  | 18 |  |  |  | - |  |  |  | 114,389 |
As at December 31, 2020 |  |  | 217,340 |  |  |  | 16,607 |  |  |  | 30,105 |  |  |  | 43 |  |  |  | - |  |  |  | 264,095 |
*See Note 6C Investment in Photovoltaic Plants Since March 4, 2010, the Company acquired seventeen photovoltaic plants located in Italy, Spain and Israel (for information in connection with the Israeli photovoltaic plant see Note 6D). In addition, the Company’s subsidiary, Talasol, constructed the Talasol PV Plant (see Note 6C 2). On December 20, 2019, the Company sold ten Italian indirectly wholly-owned subsidiaries, which own twelve of the aforementioned seventeen photovoltaic plants with an aggregate nominal capacity of approximately 22.6 MW (see Note 6C 3). In connection with PV Plants owned by the Company as of December 31, 2020 (including the Talasol PV Plant), the Company recorded as of December 31, 2020, fixed assets at an aggregate value of approximately €223,626 thousand, in accordance with actual costs incurred. Depreciation with respect to the PV Plants in Italy (sold by the Company on December 20, 2019) was calculated using the straight-line method over 20 years commencing from the connection to the national grid that represent the estimated useful lives of the assets. Depreciation with respect to the PV Plants in Spain is calculated using the straight-line method over 25 years starting connection to the national grid that represent the estimated useful lives of the assets. During the year ended December 31, 2020, the Company recorded depreciation expenses with respect to its PV Plants in Spain of approximately €4,383 thousand. Presented hereunder are data regarding the Company’s investments in photovoltaic plants as at December 31, 2020:
PV Plant Title |  | Nominal Capacity |  | Connection to Grid |  | Cost included in the Book value as at |
|  |  |  |  |  | December 31, 2020 |
|  |  |  |  |  | € in thousands |
“Ellomay Spain – Rinconada II” |  | 2,275 kWp |  | June 2010 |  |  | 5,509 |
“Rodríguez I” |  | 1,675 kWp |  | November 2011 |  |  | 3,662 |
“Rodríguez II” |  | 2,691 kWp |  | November 2011 |  |  | 6,631 |
“Fuente Librilla” |  | 1,248 kWp |  | June 2011 |  |  | 3,212 |
"Talasol" |  | 300 MWP |  | January 2021 |  |  | 204,196 |
“Ellomay Solar” |  | 28 MWP |  | under construction |  |  | 415 |
Investment in Biogas Installations On December 1, 2020 the Company acquired GG Gelderland that owns an operating anaerobic digestion plant in Gelderland, the Netherlands, with a permit that enables it to produce approximately 7.5 million Nm3 per year. The actual production capacity of the plant is approximately 9.5 million Nm3 per year. In connection with the Company's three Biogas Installations (see Note 6D 1), the Company recorded as of December 31, 2020, fixed assets at an aggregate value of approximately €37,379 thousand, in accordance with actual costs incurred. Depreciation with respect to the Biogas Installations is calculated using the straight-line method over 12 years commencing from the connection to the national grid that represent the estimated useful lives of the assets. During the year ended December 31, 2020, the Company recorded depreciation expenses with respect to its Biogas Installations in the Netherlands of approximately €1,457 thousand. Investment in Pumped storage Commencing the fourth quarter of 2020, as it is probable that the Company will enjoy future economic benefits in connection with the Manara PSP, expenses in connection with the Manara PSP are capitalized as assets. In connection with the Company's Pumped storage (see Note 6B), the Company recorded as of December 31, 2020, fixed assets at an aggregate value of approximately €16,607 thousand, in accordance with actual costs incurred. Capitalized borrowing costs In the reporting period borrowing costs in the amount of €2,369 thousand were capitalized to qualifying assets for the year 2020. Those expenses are related to the construction of the Talasol PV Plant.

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