Note 7 - Fixed assets

					Office
	Photovoltaic		Biogas		furniture and		Leasehold
	Plants		installations		equipment		Improvements		Total
	€ in thousands
Cost
Balance as at January 1, 2017		87,921		5,081		117		52		93,171
Additions		1		10,076		4		-		10,081
Balance as at December 31, 2017		87,922		15,157		121		52		103,252

Balance as at January 1, 2018		87,922		15,157		121		52		103,252
Additions		*10,367		3,499		17		-		13,883
Balance as at December 31, 2018		98,289		18,656		138		52		117,135

Depreciation
Balance as at January 1, 2017		19,758		-		87		52		19,897
Depreciation for the year		4,396		111		11		-		4,518
Balance as at December 31, 2017		24,154		111		98		52		24,415

Balance as at January 1, 2018		24,154		111		98		52		24,415
Depreciation for the year		4,396		1,081		23		-		5,500
Balance as at December 31, 2018		28,550		1,192		121		52		29,915

Carrying amounts
As at January 1, 2017		68,163		5,081		30		-		73,274
As at December 31, 2017		63,768		15,046		23		-		78,837
As at December 31, 2018		69,739		17,464		17		-		87,220

*See note 6C

Investment in Photovoltaic Plants

Since March 4, 2010, the Company acquired seventeen photovoltaic plants located in Italy, Spain and Israel (see Note 6D). In addition, the Company’s subsidiary, Talasol, is promoting the Talasol Project (see Note 6C 2).

In connection with the Company's PV Plants and the Talasol Project, the Company recorded as of December 31, 2018, fixed assets at an aggregate value of approximately €98,289 thousand, in accordance with actual costs incurred. Depreciation with respect to the PV Plants in Italy is 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, 2018, the Company had recorded depreciation expenses with respect to its PV Plants in Italy and Spain of approximately €4,396 thousand.

Presented hereunder are data regarding the Company’s investments in photovoltaic plants as at December 31, 2018:

PV Plant Title	Nominal Capacity	Connection to Grid	Cost included in the Book value as at
			December 31, 2018
			€ in thousands
“Troia 8”	995.67 kWp	January 2011		3,502
“Troia 9”	995.67 kWp	January 2011		3,478
“Del Bianco”	734.40 kWp	April 2011		2,096
“Costantini”	734.40 kWp	April 2011		2,115
“Giaché”	730.01 kWp	April 2011		2,767
“Massaccesi”	749.7 kWp	April 2011		2,750
“Galatina”	994.43 kWp	May 2011		4,131
“Pedale	2,993 kWp	May 2011		11,254
“Acquafresca”	947.6 kWp	June 2011		3,165
“D‘Angella”	930.5 kWp	June 2011		3,119
“Soleco”	5,924 kWp	August 2011		15,335
“Technoenergy”	5,900 kWp	August 2011		15,196
“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	-		10,367

Investment in Biogas Installations

In connection with the Company's Biogas Installations (see Note 6C 1), the Company recorded as of December 31, 2018, fixed assets at an aggregate value of approximately €18,656 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, 2018, the Company had recorded depreciation expenses with respect to its Biogas Installations in the Netherlands of approximately €1,081 thousand.

Capitalized borrowing costs

In the reporting period borrowing costs in the amount of €81 thousand were capitalized to qualifying assets.