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Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Financial Instruments [Abstract]  
Schedule of Transactions in Derivative Financial Instruments In order to manage these risks and as described hereunder, the Company executes transactions in derivative financial instruments. Presented hereunder is the composition of the derivatives:
   For the year ended December 
   2023   2022 
   € in thousands 
Derivatives presented under current assets        
Swap contracts   275    273 
    275    273 
           
Derivatives presented under non-current assets          
Swap contracts   607    1,488 
Financial power swap   10,341    
-
 
    10,948    1,488 
           
Derivatives presented under current liabilities          
Financial power swap   (4,643)   (33,183)
    (4,643)   (33,183)
           
Derivatives presented under non-current liabilities          
Financial power swap   
-
    (28,354)
    
-
    (28,354)

 
Schedule of Forward and Swap Contracts The following table sets forth the details of the Company’s financial power swap and swap contracts with banking institutions:
   December 31, 2023  
   Currency/  Currency/       
   linkage/interest
rate		  linkage/interest
rate		  Date of   Fair value
- € in		 
   receivable  Payable  expiration  thousand 
              
Euro 17.6 million interest swap transaction for a period of 18 years, semi-annually.  Euribor 6 months  Fixed 1%  December 20, 2037   882 
Financial power swap- electricity price swap fixed for float  Electricity price in Spain  Fixed price  September 30, 2030   5,698 
Schedule of Contractual Maturities of Financial Liabilities The following are the contractual maturities of financial liabilities at undiscounted amounts and based on the spot rates at the reporting date, including estimated interest payments. This disclosure excludes the impact of netting agreements:
   December 31, 2023 
   Carrying   Contractual   Less than           More than 
   amount   cash flows   1 year   2-3 years   4-5 years   5 years 
   € in thousands 
Non-derivative financial liabilities                        
                               
Long-term loans, including current maturities   281,938    375,334    21,883    41,743    59,691    252,017 
                               
Debentures   140,087    158,051    41,100    72,088    30,738    14,125 
                               
Lease liabilities   24,380    47,011    1,916    3,895    3,903    37,297 
                               
Trade payables, other accounts payable and Other long-term liabilities   14,496    14,496    13,703    793    
-
    
-
 
    460,901    594,892    78,602    118,519    94,332    303,439 
   December 31, 2022 
   Carrying   Contractual   Less than           More than 
   amount   cash flows   1 year   2-3 years   4-5 years   5 years 
   € in thousands 
Non-derivative financial liabilities                        
                         
Long term loans, including current maturities   273,863    363,553    30,392    42,547    43,381    247,233 
                               
Debentures   110,428    141,140    22,878    62,710    55,552    
-
 
                               
Lease liabilities   22,750    35,911    1,630    3,233    3,194    27,854 
                               
Trade payables, other accounts payable and Other long-term liabilities   15,144    15,144    13,518    813    813    
-
 
    422,185    555,748    68,418    109,303    102,940    275,087 
                               
Derivative finance liabilities                              
                               
Financial power swap   61,537    61,537    33,183    26,424    (2,666)   4,596 

 
Schedule of Company's Exposure to Linkage and Foreign Currency Risk The Company’s exposure to linkage and foreign currency risk was as follow:
   December 31, 2023 
   Non-monetary/
Non finance		  

 

NIS (*)

  

 

USD

  

 

EURO

  

 

Total

 
   € in thousands 
                     
Current assets:                    
Cash and cash equivalents   
-
    34,990    4,199    11,938    51,127 
Short term deposits   
-
    997    
-
    
-
    997 
Restricted cash   
-
    
-
    
-
    810    810 
Intangible asset from green certificates   553    
-
    
-
    
-
    553 
Trade and other receivables   2,584    2,660    
-
    6,748    11,992 
Assets of disposal groups classified as held for sale   28,297    
-
    
-
    
-
    28,297 
Non-current assets:                         
Investments in equity accounted investees   31,772    
-
    
-
    
-
    31,772 
Advances on account of investments   898    
-
    
-
    
-
    898 
Fixed assets   407,982    
-
    
-
    
-
    407,982 
Right-of-use asset   30,967    
-
    
-
    
-
    30,967 
Restricted cash and deposits   
-
    3,558    
-
    13,828    17,386 
Deferred tax   8,677    
-
    
-
    
-
    8,677 
Long term receivables   9,350    1,096    
-
    
-
    10,446 
Derivatives   
-
    
-
    
-
    10,948    10,948 
Current liabilities:                         
Current maturities of long-term bank loans   
-
    
-
    
-
    (9,784)   (9,784)
Current maturities of long-term loans   
-
    
-
    
-
    (5,000)   (5,000)
Current maturities of debentures   
-
    (35,200)   
-
    
-
    (35,200)
Trade payables   
-
    (832)   (154)   (4,263)   (5,249)
Other payables   (553)   (9,445)   
-
    (861)   (10,859)
Current maturities of derivatives   
-
    
-
    
-
    (4,643)   (4,643)
Current maturities of lease liabilities   
-
    (105)   (10)   (585)   (700)
Liabilities of disposal groups classified as held for sale   (17,142)   
-
    
-
    
-
    (17,142)
Non-current liabilities:                         
Long-term lease liabilities   
-
    (3,176)   (2,150)   (18,354)   (23,680)
Long-term loans   
-
    (69,685)   
-
    (168,096)   (237,781)
Other long-term bank loans   
-
    (8,452)   
-
    (20,921)   (29,373)
Debentures   
-
    (104,887)   
-
    
-
    (104,887)
Deferred tax   (2,516)   
-
    
-
    
-
    (2,516)
Other long-term liabilities   
-
    (939)   
-
    
-
    (939)
Total exposure in statement of financial position in respect of financial assets and financial liabilities   500,869    (189,420)   1,885    (188,235)   125,099 

 

   December 31, 2022 
   Non-monetary/
Non finance		  

 

NIS (*)

  

 

USD

  

 

EURO

  

 

Total

 
   € in thousands 
                     
Current assets:                    
Cash and cash equivalents   
-
    30,359    55    16,044    46,458 
Marketable securities   
-
    
-
    2,836    
-
    2,836 
Restricted cash   
-
    
-
    
-
    900    900 
Receivable from concession project   
-
    1,799    
-
    
-
    1,799 
Trade and other receivables   2,174    4,694    16    5,798    12,682 
Non-current assets:                         
Investments in equity accounted investees   23,976    6,053    
-
    
-
    30,029 
Advances on account of investments   2,328    
-
    
-
    
-
    2,328 
Receivable from concession project   
-
    24,795    
-
    
-
    24,795 
Fixed assets   365,756    
-
    
-
    
-
    365,756 
Right-of-use asset   30,020    
-
    
-
    
-
    30,020 
Intangible asset   4,094    
-
    
-
    
-
    4,094 
Restricted cash and deposits   
-
    5,607    
-
    14,585    20,192 
Deferred tax   23,510    
-
    
-
    
-
    23,510 
Long term receivables   7,840    1,171    
-
    259    9,270 
Derivatives   
-
    
-
    
-
    1,488    1,488 
Current liabilities:                         
Current maturities of long-term bank loans   
-
    (2,091)   
-
    (10,724)   (12,815)
Current maturities of long-term loans   
-
    
-
    
-
    (10,000)   (10,000)
Current maturities of debentures   
-
    (18,714)   
-
    
-
    (18,714)
Trade payables   
-
    (123)   
-
    (4,381)   (4,504)
Other payables   
-
    (6,107)   
-
    (5,100)   (11,207)
Current maturities of derivatives   
-
    
-
    
-
    (33,183)   (33,183)
Current maturities of lease liabilities   
-
    (193)   
-
    (552)   (745)
Non-current liabilities:                         
Long-term lease liabilities   
-
    (4,740)   
-
    (17,265)   (22,005)
Long-term loans   
-
    (13,495)   
-
    (215,971)   (229,466)
Other long-term bank loans   
-
    (7,538)   
-
    (14,044)   (21,582)
Debentures   
-
    (91,714)   
-
    
-
    (91,714)
Deferred tax   (6,770)   
-
    
-
    
-
    (6,770)
Derivatives   
-
    
-
    
-
    (28,354)   (28,354)
Other long-term liabilities   
-
    (2,021)   
-
    
-
    (2,021)
Total exposure in statement of financial position in respect of financial assets and financial liabilities   452,928    (72,258)   2,907    (300,500)   83,077 
(*)Including items linked to the Israeli CPI

 
Schedule of Significant Exchange Rates Information regarding significant exchange rates:
   For the year ended December 31 
   Rate of       Rate of     
   Change       Change     
   %   Dollar   %   NIS 
1 Euro in 2023   3.7    1.106    6.9    4.012 
1 Euro in 2022   (5.8)   1.066    6.6    3.753 
Schedule of Sensitivity Analysis of Equity The analysis assumes that all other variables, in particular interest rates, remain constant.
   December 31, 2023 
   Increase   Decrease 
   Equity   Equity 
   € thousands 
Change in the exchange rate of:        
5% in the USD   (90)   99
5% in NIS   (9,471)   9,471 
   December 31, 2022 
   Increase   Increase 
   Equity   Equity 
   € thousands 
Change in the exchange rate of:        
5% in the USD   155    (155)
5% in NIS   (963)   963 

 
Schedule of Change in Interest Rate Profit (Loss) A change in interest rate would have increased (decreased) the profit in the financial statements by the amounts shown below:
   December 31, 
   2023   2022 
   Profit or loss   Profit or loss 
   € in thousands 
Increase of 1%   736    161 
Increase of 3%   2,204    520 
Decrease of 1%   (734)   (196)
Decrease of 3%   (2,201)   (556)
Schedule of Fair Values of the Other Financial Liabilities The fair values of the other financial liabilities, together with the carrying amounts shown in the statement of financial position, are as follows:
   December 31, 2023
       Fair value   Valuation techniques  Inputs used to
   Carrying               for determining  determine
   amount   Level 1   Level 2   Level 3   fair value  fair value
   € in thousands       
Non-current liabilities:                      
Debentures   140,087    134,464    
-
    
-
       
Loans from banks and others (including current maturities)   281,938    
-
    231,057    
-
   Discounting future cash flows by the market interest rate on the date of measurement.  See Note 21F(2)
    422,025    134,464    231,057    
-
       
   December 31, 2022
       Fair value   Valuation techniques  Inputs used to
   Carrying               for determining   determine
   amount   Level 1   Level 2   Level 3   fair value  fair value
   € in thousands       
Non-current liabilities:                      
Debentures   110,428    102,957    
-
    
-
       
Loans from banks and others (including current maturities)   273,863    
-
    217,073    
-
   Discounting future cash flows by the market interest rate on the date of measurement.  See Note 21F(2)
    384,291    102,957    217,073    
-
       

 
Schedule of Interest Rates Used to Discount Estimated Cash Flows The interest rates used to discount estimated cash flows, when applicable, are based on the government yield curve at the reporting date plus an adequate credit spread, and were as follows:
   December 31,
   2023  2022
   %
Non-current liabilities:      
Loans from banks  Discount rate of Euribor+ 2% with a zero floor  Discount rate of Euribor+ 2% with a zero floor
Loans from banks  fixed rate for several years 3.1%-6% Linkage to Euribor  fixed rate for 5 years 2.65%-4.5% Linkage to Euribor
Loans from banks  2.58%-4.78% Linkage to Consumer price index in Israel  2.58% Linkage to Israeli CPI
Loans from banks  Floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%.  Floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%.
Loans from banks  fixed rate of 2.58%-3.03%  fixed rate 2.58%-3.03%
Loans from others  Euribor+ 5.27%  Euribor+ 5.27%
Loans from others  7% Linkage to Consumer price index in Israel and fixed rate of 5.5%  7% Linkage to Israeli CPI and fixed rate of 5.5%
Schedule of Fair Values Hierarchy Level 3 - Inputs that are not based on observable market data (unobservable inputs).
   December 31, 2023
   Level 1   Level 2   Level 3   Total   Valuation techniques for
   € in thousands   determining fair value
Swap contracts   
-
    882    
-
    882   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.
Financial power swap   
-
    
-
    5,698    5,698   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, 2022
   Level 1   Level 2   Level 3   Total   Valuation techniques for
   € in thousands   determining fair value
Marketable securities   2,836    
-
    
-
    2,836   Market price.
Swap contracts   
-
    1,761    
-
    1,761   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.
Financial power swap   
-
    
-
    (61,537)   (61,537)  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 The table hereunder presents reconciliation from the beginning balance to the ending balance of financial instruments carried at fair value in level 3 of the fair value hierarchy:
   Financial assets 
   Dori Energy loan 
   € in thousands 
     
Balance as at January 1, 2022   (20,894)
      
Total income recognized in profit or loss   49,679*
      
Total income recognized in other comprehensive income   (90,322)*
     
Balance as at December 31, 2022   (61,537)
      
Total income recognized in profit or loss   13,777 
      
Total income recognized in other comprehensive income   53,548 
      
Balance as at December 31, 2023   5,698 
*Reclassified