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Leases | 12 Months Ended
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Dec. 31, 2021
Presentation of leases for lessee [abstract] |
Leases | Note 14 - Leases Leases in which the Company is the lessee The Company has lease agreements with respect to the following items:
| 1. | Lands;
| 2. | Machinery equipment
| 1. | Information regarding material lease agreements entered into during the period
Ellomay PS leases land in Israel from private lessors for a period of 24 years and 11 month, on which it sets up Manara PSP site. The contractual period of the aforesaid lease agreements ends on July 2046. Ellomay PS will pay capitalized rents in the total amount of NIS 28,800 thousand to the private lessors, not including VAT. The discounted rent is linked to the consumer price index and constitutes an advance payment for the entire rental period. In addition, Ellomay PS will pay a regular quarterly rent of approximately NIS 165 thousand per quarter, not including VAT. The quarterly rent will increase by 2% every 3 years and is linked to the consumer price index. A lease liability in the amount of €10,629 thousand and right-of-use asset in the amount of €10,629 thousand have been recognized in the statement of financial position in April, 2021 in respect of leases of land. A total amount of €4,165 thousand paid to the lessors during 2021.
| 2. | Right-of-use assets
|  | Gelderland |  |  | Spain |  |  | Talasol |  |  | Talmei Yosef |  |  | Pumped storage |  |  | Total |
|  |  |  |  | € in thousands |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as at January 1, 2021 |  |  | 355 |  |  |  | 3,024 |  |  |  | 12,686 |  |  |  | 1,672 |  |  |  | - |  |  |  | 17,737 |
lease agreements entered into during the period |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 10,629 |  |  |  | 10,629 |
Other |  |  | - |  |  |  | - |  |  |  | (4,526 | ) |  |  | (18 | ) |  |  | 48 |  |  |  | (4,496 | )
Effect of changes in exchange rates |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 168 |  |  |  | 888 |  |  |  | 1,056 |
Balance as at December 31, 2021 |  |  | 355 |  |  |  | 3,024 |  |  |  | 8,160 |  |  |  | 1,822 |  |  |  | 11,565 |  |  |  | 24,926 |
Depreciation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as at January 1, 2021 |  |  | - |  |  |  | 150 |  |  |  | 169 |  |  |  | 209 |  |  |  | - |  |  |  | 528 |
Depreciation for the year |  |  | 185 |  |  |  | 119 |  |  |  | 404 |  |  |  | 110 |  |  |  | 213 |  |  |  | 1,031 |
Balance as at December 31, 2021 |  |  | 185 |  |  |  | 269 |  |  |  | 573 |  |  |  | 319 |  |  |  | 213 |  |  |  | 1,559 |
Carrying amounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As at January 1, 2020 |  |  | - |  |  |  | 1,160 |  |  |  | 12,656 |  |  |  | 1,585 |  |  |  | - |  |  |  | 15,401 |
As at December 31, 2020 |  |  | 355 |  |  |  | 2,874 |  |  |  | 12,517 |  |  |  | 1,463 |  |  |  | - |  |  |  | 17,209 |
As at December 31, 2021 |  |  | 170 |  |  |  | 2,755 |  |  |  | 7,587 |  |  |  | 1,503 |  |  |  | 11,352 |  |  |  | 23,367 |
3. Lease liability Maturity analysis of the Company’s lease liabilities
|  | December 31, 2021 |
|  | € in thousands |
Less than one year |  |  | 4,329 |
One to five years |  |  | 2,668 |
More than five years |  |  | 13,132 |
Total |  |  | 20,129 |
Current maturities of lease liability |  |  | 4,329 |
Long-term lease liability |  |  | 15,800 |
4. Additional information on leases
| (a) | Amounts recognized in profit or loss
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | € in thousands |
Interest expenses on lease liability |  |  | 367 |  |  |  | 494 |  |  |  | 341 |
| (b) | Short-term leases
As mentioned in Note 3J regarding significant accounting policies, the Company accounts for short-term leases and leases of low-value assets as expense on a straight-line basis over the lease term, instead of a right-of-use asset and lease liability. These leases include office space.

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