Note 10 - Leases

Material lease agreements entered into during the period

Ellomay Solar Italy Seven and Ellomay Solar Italy Nine each lease land in in the municipality of Masserano, Biella, Piemonte Region, Italy and Jesi, Ancona, Marche Region, Italy, respectively, from private lessors for a period of 31 years, on which they are constructing photovoltaic facilities. A right-of-use asset in the amount of €2,527 thousand has been recognized in the statement of financial position in respect of leases of land. A lease liability in the amount of €2,527 thousand has been recognized in the statement of financial position in respect of such leases of land, out of which an amount of €14 thousand has been recognized in short term liabilities.

Right-of-use assets

	Gelderland			Italy			Spain			Talasol			Talmei Yosef			Pumped storage			Total
	€ in thousands
Cost

Balance as at January 1, 2023		46			8,733			2,314			7,183			1,331			10,413			30,020
Additions		-			2,527			155			867			72			83			3,704
Depreciation for the period		(13	)		(139	)		(64	)		(227	)		(28	)		(220	)		(691	)
Other		-			(1,629	)		-			-			-			-			(1,629	)
Effect of changes in exchange rates		-			-			-			-			(118	)		(683	)		(801	)
Balance as at June 30, 2023		33			9,492			2,405			7,823			1,257			9,593			30,603

Lease liability

Maturity analysis of the company's lease liabilities

	June 30, 2023
	€ in thousands
Less than one year		775
One to five years		3,280
More than five years		19,663

Total		23,718

Current maturities of lease liability		775

Long-term lease liability		22,943