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Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2022
Disclosure of detailed information about financial instruments [abstract]  
Schedule of Composition of Derivatives
   
June 30,
   
December 31,
 
   
2022
   
2021
 
   
€ in thousands
 
   
Unaudited
   
Audited
 
Derivatives presented under current assets
           
Currency swap
   
55
     
639
 
     
55
     
639
 
                 
Derivatives presented under non-current assets
               

Swap contracts

   
997
     
-
 
Currency swap
   
1,721
     
2,635
 
     
2,718
     
2,635
 
                 
Derivatives presented under current liabilities
               
Swap contracts
   
(25
)
   
(3,431
)
Financial power swap
   
(38,971
)
   
(11,352

)

     
(38,996
)
   
(14,783
)
                 
Derivatives presented under non-current liabilities
               

Financial power swap

   
(24,198

)

   
(9,542
)
Swap contracts
   
-
 
   
(565
)
     
(24,198
)
   
(10,107
)
Schedule of Statement of Fair value of Other Financial Assets and Liabilities
   
June 30, 2022
         
Fair value
       
   
Carrying
                   
Valuation techniques for
 
Inputs used to
   
amount
   
Level 1
   
Level 2
   
Level 3
 
determining fair value
 
determine fair value
   
€ in thousands
       
Non-current liabilities:
                             
Debentures
   
113,758
     
109,412
     
-
     
-
       
Loans from banks and others (including current maturities)
   
265,905
     
-
     
247,350
     
-
 
Discounting future cash flows by the market interest rate on the date of measurement.
 
Discount rate of Euribor+ 1.76%-2.75% with a zero floor, Euribor+ 5.27% fixed rate for 5 years of 2.9%-3.55% and 3%-4.65% and linkage to consumer price index in Israel.
     
379,663
     
109,412
     
247,350
     
-
       
 
   
December 31, 2021
         
Fair value
       
   
Carrying
                   
Valuation techniques for
 
Inputs used to
   
amount
   
Level 1
   
Level 2
   
Level 3
 
determining fair value
 
determine fair value
   
€ in thousands
       
Non-current liabilities:
                             
Debentures
   
137,299
     
140,293
     
-
     
-
       
Loans from banks and others (including current maturities)
   
218,895
     
-
     
223,287
     
-
 
Discounting future cash flows by the market interest rate on the date of measurement.
 
Discount rate of Euribor+ 1.76%-2.75% with a zero floor, Euribor+ 5.27%, fixed rate for 5 years 2.9%-3.55% and 4.65% and linkage to consumer price index in Israel
     
356,194
     
140,293
     
223,287
     
-
       

 

Schedule of Fair Values Hierarchy
 
   
June 30, 2022
   
Level 1
   
Level 2
   
Level 3
   
Total
 
Valuation techniques for
   
€ in thousands
 
determining fair value

Marketable securities

   

1,761

      -       -      

1,761

 

Market price

Swap contracts
   
-
     
972
 
   
-
     
972
 
Fair value is measured by discounting the future cash flows, over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties’ credit risks.
Currency swap
   
-
     
1,776
     
-
     
1,776
 
Fair value is measured by discounting the future cash flows, over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties’ credit risks.
Dori Energy loan
   
-
     
-
     
8,863
     
8,863
 
Fair value is measured by discounting the expected future loan repayments and using market interest rates appropriate for similar instruments, including the required adjustments for the specific loan. The discounting rate was estimated at approximately 11% and the expected annual change of Israeli Consumer Price Index, during the expected lifetime of the loan, was estimated at approximately 2.5%.
Financial power swap
   
-
     
-
     
(63,169
)    
(63,169
)
Fair value is measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties’ credit risks.
 
   
December 31, 2021
   
Level 1
   
Level 2
   
Level 3
   
Total
 
Valuation techniques for
   
€ in thousands
 
determining fair value
Marketable securities
   
1,946
     
-
     
-
     
1,946
 
Market price
Swap contracts
   
-
     
(3,996
)
   
-
     
(3,996
)
Fair value is measured by discounting the future cash flows, over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties’ credit risks.
Currency swap
   
-
     
3,274
 
   
-
     
3,274
 
Fair value is measured by discounting the future cash flows, over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties’ credit risks.
Dori Energy loan
   
-
     
-
     
8,495
     
8,495
 
Fair value is measured by discounting the expected future loan repayments and using market interest rates appropriate for similar instruments, including the adjustment required for the parties’ credit risks. The discounting rate was estimated at approximately 11% and the expected annual change of Israeli Consumer Price Index, during the expected lifetime of the loan, was estimated at approximately 1%.
Financial power swap
   
-
     
-
     
(20,894
)    
(20,894
)
Fair value is measured by discounting the future fixed and assessed cash flows, over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties’ credit risks.
Schedule of Reconciliation Financial Instruments Carried at Fair Value
 
   
Financial assets
 
   
Dori Energy loan
 
   
€ in thousands
 
       
Balance as at December 31, 2021
   
8,495
 
         
Repayment of loan to an equity accounted investee
   
(149
)
Loan to an equity accounted investee
   
-
 
Total income recognized in profit or loss
   
208
 
Interest
   
592
 
Foreign Currency translation adjustments
   
(283
)
         
Balance as at June 30, 2022
   
8,863
 
   
Financial assets
 
   
Financial
power swap
 
   
€ in thousands
 
       
Balance as at December 31, 2021
   
(20,894
)
         
Total loss recognized in other comprehensive income (loss)
   
(42,275
)
         
Balance as at June 30, 2022
   
(63,169
)