XML 25 R32.htm IDEA: XBRL DOCUMENT v3.20.2
Financial Instruments (Schedule of Fair Values Hierarchy) (Details) - EUR (€)
€ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2020
Dec. 31, 2019
Disclosure of fair value measurement of assets [line items]    
Income receivable in connection with the A.R.Z. electricity pumped storage project   € 1,418
Marketable securities € 2,226 2,242
Derivatives 209 5,162
Swap contracts (9,745) (7,685)
Currency swap 252 197
Dori Energy loan 8,678 10,595
Financial power swap € (5,432) € 4,967
Swap contracts [Member]    
Disclosure of fair value measurement of assets [line items]    
Valuation techniques for determining fair value 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. 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 [Member]    
Disclosure of fair value measurement of assets [line items]    
Valuation techniques for determining fair value 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. 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 [Member]    
Disclosure of fair value measurement of assets [line items]    
Valuation techniques for determining fair value The 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 6.4% and the expected yearly change of Israeli Consumer Price Index, during the expected lifetime of the loan, was estimated at approximately 1%. The 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 10% and the expected yearly change of Israeli Consumer Price Index, during the expected lifetime of the loan, was estimated at approximately 1%.
Financial power swap [Member]    
Disclosure of fair value measurement of assets [line items]    
Derivatives € 4,967
Valuation techniques for determining fair value 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. 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.
Forward contracts [Member]    
Disclosure of fair value measurement of assets [line items]    
Derivatives € 92
Valuation techniques for determining fair value   Fair value measured on the basis of discounting the difference between the forward price in the contract and the current forward price for the residual period until redemption using market interest rates appropriate for similar instruments, including the adjustment required for the parties’ credit risks.
Marketable securities [Member]    
Disclosure of fair value measurement of assets [line items]    
Valuation techniques for determining fair value Market price Market price
Income receivable in connection with the A.R.Z Electricity PSP [Member]    
Disclosure of fair value measurement of assets [line items]    
Valuation techniques for determining fair value   The fair value of the income receivable in connection with the A.R.Z. electricity pumped storage project was calculated according to the cash flows expected to be received in 4.5 years following the financial closing of the project, discounted at a weighted interest rate of 2.36% reflecting the credit risk of the debtor.
Level 1 [Member]    
Disclosure of fair value measurement of assets [line items]    
Income receivable in connection with the A.R.Z. electricity pumped storage project  
Marketable securities
Derivatives  
Swap contracts
Currency swap
Dori Energy loan
Financial power swap
Level 2 [Member]    
Disclosure of fair value measurement of assets [line items]    
Income receivable in connection with the A.R.Z. electricity pumped storage project  
Marketable securities 2,226 2,242
Derivatives   (252)
Swap contracts (9,745) (7,685)
Currency swap 252 197
Dori Energy loan
Financial power swap
Level 3 [Member]    
Disclosure of fair value measurement of assets [line items]    
Income receivable in connection with the A.R.Z. electricity pumped storage project   1,418
Marketable securities
Derivatives  
Swap contracts
Currency swap
Dori Energy loan 8,678 10,595
Financial power swap € (5,432) € 4,967