0001178913-24-001125 | 20-F | XBRL Viewer | Enlight Renewable Energy LTD

$ 324,666

$ 165,627

1,702,925

1,419,057

Credit from banking corporations [Member]

2,027,591

1,584,684

Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]

^[1]

565

^[1]

Loans from banking corporations and other financial institutions for project financing [Member]

^[1]

565

Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]

324,666

165,062

1,586,692

1,376,260

Loans from banking corporations for corporate financing [Member]

1,911,358

1,541,322

Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]

116,233

42,797

Disclosure of operating segments [abstract]

$ 116,233

$ 42,797

[1]	Withdrawals from a value added tax facility during the construction period in accordance with the financing agreements of the various projects.

Other income (Details) - USD ($) $ in Thousands	12 Months Ended
Other income (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Other Income [Abstract]
Changes in contingent consideration	$ 33,684	$ 12,002	$ 0
Production delay compensation	9,542	0	0
Capital gains	9,847	0	0
Tax equity partnerships depreciations	5,440	0	0
Others	221	1,765	778
Total	$ 58,734	$ 13,767	$ 778

Material Accounting Policies (Details)	12 Months Ended
Material Accounting Policies (Details)	Dec. 31, 2023
Wind Farms [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lifetime	25-30 years
Depreciation method	Straight line
Wind Farms [Member] \| Bottom of range [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rates	3.33%
Wind Farms [Member] \| Top of range [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rates	4.00%
Photovoltaic Systems [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lifetime	30-35 years
Depreciation method	Straight line
Photovoltaic Systems [Member] \| Bottom of range [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rates	2.86%
Photovoltaic Systems [Member] \| Top of range [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rates	3.33%
Automatic Cleaning Systems [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lifetime	20 years
Depreciation rates	5.00%
Depreciation method	Straight line
Others [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lifetime	3-14 years
Depreciation method	Straight line
Others [Member] \| Bottom of range [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rates	7.00%
Others [Member] \| Top of range [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rates	33.33%

Income Taxes (Details 3) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 3) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Income Taxes [Abstract]
Profit (loss) before income taxes from continuing operations	$ 126,469	$ 51,056	$ 27,369
Primary tax rate of the Company	23.00%	23.00%	23.00%
Tax calculated according to the Company’s primary tax rate	$ 29,088	$ 11,743	$ 6,295
Increase (decrease) in income taxes Additional tax (tax saving) in respect of:
No controlling share in the profits / losses of investee partnerships	(1,653)	(896)	(531)
Different tax rate of foreign subsidiaries	(2,080)	(1,644)	(2,370)
Non-deductible expenses and exempt income	1,662	3,150	1,853
Exempt income	(1,282)	(1,170)	(354)
Utilization of tax losses and benefits from prior years	924	310	179
Temporary difference in respect of subsidiaries for which deferred taxes were not recognized	3,433	1,270	631
Change in taxes in respect of previous years	(1,847)	143	(77)
Other tax effects for reconciliation between accounting profit and tax expense (income)	183	37	68
Total income taxes from continuing operations as presented in profit or loss	$ (28,428)	$ (12,943)	$ (5,694)

Segmental Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of segmental revenues and results

			For the year ended December 31, 2023
	Israel		Central-Eastern Europe		Western Europe		USA		Management and construction		Total reportable segments		Adjustments			Total
	USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands			USD in thousands

External revenues		67,687		87,374		90,097		2,274		8,270		255,702		-			255,702
Inter-segment revenues		-		-		-		-		9,074		9,074		(9,074	)		-
Total revenues		67,687		87,374		90,097		2,274		17,344		264,776		(9,074	)		255,702

Segment Adjusted EBITDA		66,680		72,629		78,048		1,518		3,035		221,910		-			221,910

Reconciliations of unallocated amounts:
Headquarter costs (*)																	(30,434	)
Gains from projects disposals																	9,847
Intersegment profit																	1,587
Repayment of contract asset under concession arrangements																	(14,120	)
Depreciation and amortization and share based compensation																	(70,766	)
Other incomes not attributed to segments																	40,119
Operating profit																	158,143
Finance income																	36,799
Finance expenses																	(68,143	)
Share in the losses of equity accounted investees																	(330	)

Profit before income taxes																	126,469

(*)

Including general and administrative, project promotion and development expenses (excluding depreciation and amortization and share based compensation).

	For the year ended December 31, 2022
	Israel		Central-Eastern Europe		Western Europe		Management and construction		Total reportable segments		Adjustments			Total
	USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands			USD in thousands

External revenues		51,363		70,705		58,991		11,113		192,172		-			192,172
Inter-segment revenues		-		-		-		9,111		9,111		(9,111	)		-
Total revenues		51,363		70,705		58,991		20,224		201,283		(9,111	)		192,172

Segment Adjusted EBITDA		57,598		56,181		45,750		4,018		163,547		-			163,547

Reconciliations of unallocated amounts:
Headquarter costs (*)															(18,071	)
Intersegment loss															2,038
Repayment of contract asset under concession arrangements															(17,579	)
Depreciation and amortization and share based compensation															(50,940	)
Other incomes not attributed to segments															11,617
Operating profit															90,612
Finance income															23,341
Finance expenses															(62,591	)
Share in the losses of equity accounted investees															(306	)

Profit before income taxes															51,056

(*)

Including general and administrative, project promotion and development expenses (excluding depreciation and amortization and share based compensation).

	For the year ended December 31, 2021
	Israel		Central-Eastern Europe		Western Europe		Management and construction		Total reportable segments		Adjustments			Total
	USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands			USD in thousands

External revenues		18,919		61,326		14,064		8,152		102,461		-			102,461
Inter-segment revenues		-		-		-		10,894		10,894		(10,894	)		-
Total revenues		18,919		61,326		14,064		19,046		113,355		(10,894	)		102,461

Segment Adjusted EBITDA		44,549		51,610		11,183		6,623		113,965		-			113,965

Reconciliations of unallocated amounts:
Headquarter costs (*)															(12,086	)
Intersegment profit															(2,811	)
Repayment of contract asset under concession arrangements															(32,857	)
Depreciation and amortization and share based compensation															(24,480	)
U.S. acquisition expense															(7,331	)
Operating profit															34,400
Finance income															30,333
Finance expenses															(37,175	)
Share in the losses of equity accounted investees															(189	)

Profit before income taxes															27,369

(*)

Including general and administrative, project promotion and development expenses (excluding depreciation and amortization and share based compensation).

General

12 Months Ended

Dec. 31, 2023

General Description [Abstract]

General

Note 1 - General

Enlight Renewable Energy Ltd. (hereinafter: “the Company”) is a public company located in Israel, whose shares are listed on NASDAQ and Tel Aviv Stock Exchange (hereinafter: “TASE”). The Company’s address is 13 Amal St., Park Afek, Rosh Ha’ayin, Israel. As of the reporting date, the Company is engaged in the renewable energy industry. Since May 2018, the Company has no controlling shareholder and/or a control core.

The Company is engaged in the initiation, planning, development, construction and operation of projects for the production of electricity from renewable energy sources in Israel, Europe and the United states. In its activities, the Company is engaged, inter alia, in architectural and engineering planning of the aforementioned projects for the production of electricity, in purchasing the components which are required for the construction of those projects, in building the projects, in securing the regulatory permits and licenses which are required for the construction of each project, in the production and sale of electricity to the electric corporation, and in the operation of those facilities, once completed.

Definitions

The Group	-	The Company and its consolidated entities (as defined below).

Consolidated Entities	-	Companies or partnerships which are directly or indirectly under the Company’s control (as defined in IFRS 10), and whose financial reports are wholly consolidated with the Company’s reports. The material active consolidated entities are as specified in Note 7.

Related Party	-	As defined in IAS 24 (2009), “Related Party Disclosures”.

Statement of Compliance with International Financial Reporting Standards (IFRS)

The Group’s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (hereinafter: “IFRS”) as issued by the International Accounting Standards Board (IASB).

The consolidated financial statements were authorized for issue by the Company’s Board of Directors on March 25, 2024.

Classifications

The Company made a number of insignificant adjustments to the classification of comparative figures in order to adjust them to the manner of classification in the current financial statements. The said classifications have no effect on the total profit (loss).

Operating cycle period

The Group’s operating cycle period is 12 months.

Exchange rates and linkage base

(1)

Balances denominated in or linked to foreign currency are included in the financial statements according to the representative exchange rates which were published by Bank of Israel, and which applied as of the end of the reporting period.

Exchange rates and linkage base (Cont.)

(2)

Balances linked to the Israeli Consumer Price Index (hereinafter: the “CPI”) are presented according to the last known index on the balance sheet data (hereinafter: the “Known Index”).

(3)

Presented below are data regarding the EUR, HRK, HUF and NIS exchange rates, and regarding the CPI:

	Representative exchange rate												CPI(*)
	EUR			NIS			HUF			HRK			Known index
	(USD to 1)												In points
Date of the financial statements:
As of December 31, 2023		1.006			0.249			0.0029			N/A(	**)		113.7
As of December 31, 2022		1.066			0.284			0.0027			0.142			110.1

	%			%			%			%			%
Rates of change:
For the year ended:
As of December 31, 2023		(5.6	)		(12.3	)		7.4			N/A(	**)		3.3
As of December 31, 2022		(5.8	)		(11.8	)		(12.9	)		(5.3	)		5.4

(*)

Base: 2012 average = 100.

(**)

Following the change of currency in Croatia from HRK to EUR (effective from the beginning of 2023), the HRK currency is no longer active.

Segmental Reporting (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

$ 255,702

$ 192,172

$ 102,461

255,702

192,172

102,461

Reconciliations of unallocated amounts:

221,910

163,547

113,965

Headquarter costs

^[1]

(30,434)

(18,071)

(12,086)

Gains from projects disposals

9,847

Intersegment loss

1,587

2,038

2,811

Repayment of contract asset under concession arrangements

(14,120)

(17,579)

(32,857)

Depreciation and amortization and share based compensation

(70,766)

(50,940)

(24,480)

U.S. acquisition expense

(7,331)

Other incomes not attributed to segments

40,119

11,617

Operating profit

158,143

90,612

34,400

Finance income

36,799

23,341

30,333

Finance expenses

(68,143)

(62,591)

(37,175)

Share in the losses of equity accounted investees

(330)

(306)

(189)

Profit (Loss) before income taxes

126,469

51,056

27,369

Total reportable segments

255,702

192,172

102,461

9,074

9,111

10,894

264,776

201,283

113,355

Total reportable segments | Management and construction

221,910

163,547

113,965

8,270

11,113

8,152

9,074

9,111

10,894

17,344

20,224

19,046

Total reportable segments | ISRAEL

3,035

4,018

6,623

67,687

51,363

18,919

67,687

51,363

18,919

Total reportable segments | Central-Eastern Europe

66,680

57,598

44,549

87,374

70,705

61,326

87,374

70,705

61,326

Total reportable segments | Western Europe

72,629

56,181

51,610

90,097

58,991

14,064

90,097

58,991

14,064

Total reportable segments | USA

78,048

45,750

11,183

2,274

2,274

1,518

Adjustments

(9,074)

(9,111)

(10,894)

(9,074)

(9,111)

(10,894)

Changes in liabilities arising from financing activities [abstract]

$ 0

[1]	Including general and administrative, project promotion and development expenses (excluding depreciation and amortization and share based compensation).

Changes in Liabilities from Financing Activities (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about changes in liabilities from financing activities

	Balance as of January 1, 2023		Cash flows from financing activities			Translation differences in respect of foreign operations			Adjustments in respect of cash flows for operating activities (3)		Non-cash activities			Balance as of December 31, 2023
	USD in thousands		USD in thousands			USD in thousands			USD in thousands		USD in thousands			USD in thousands
Debentures (1)		256,736		68,303			(4,076	)		2,198		-			323,161
Convertible Debentures (1)		131,763		-			(3,763	)		2,952		(21	)		130,931
Loans from banks and other financial institutions		1,585,846		403,679			21,664			20,880		(2,530)	(2)		2,029,539
Loans from non-controlling interests		90,909		(1,211	)		2,466			754		(167	)		92,751
Lease liability		99,623		(4,848	)		1,611			-		31,210	(4)		127,596

		2,164,877		465,923			17,902			26,784		28,492			2,703,978

(1)

Including interest payable.

(2)

Mostly due to the offsetting of deferred borrowing costs which were prepaid by the project companies on the financial closing dates, and capitalization of finance expenses during the construction period.

(3)

Including interest accrued and interest paid.

	(4)	Initial creation and index linking vis-à-vis right-of-use asset.

	Balance as of January 1, 2022		Cash flows from financing activities			Translation differences in respect of foreign operations			Adjustments in respect of cash flows for operating activities(3)			Non-cash activities			Balance as of December 31, 2022
	USD in thousands		USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands
Debentures (1)		307,481		(16,571	)		(35,037	)		863			-			256,736
Convertible Debentures (1)		101,291		47,755			(15,576	)		3,195			(4,902	)		131,763
Loans from banks and other financial institutions (1)		1,231,208		357,868			(123,423	)		32,435			87,758	(2)		1,585,846
Loans from non-controlling interests		78,113		15,834			(5,210	)		330			1,842			90,909
Lease liability		105,645		(4,327	)		(10,302	)		(1,964	)		10,571	(4)		99,623

		1,823,738		400,559			(189,548	)		34,859			95,269			2,164,877

(1)

Including interest payable.

(2)

Mostly due to the offsetting of deferred borrowing costs which were prepaid by the project companies on the financial closing dates, and discounted finance expenses during the construction period.

(3)

Including interest accrued and interest paid.

(4)

Initial creation vis-à-vis right-of-use asset.

	Balance as of January 1, 2021		Cash flows from financing activities			Translation differences in respect of foreign operations			Adjustments in respect of cash flows for operating activities(3)			Initial consolidation		Non-cash activities			Balance as of December 31, 2021
	USD in thousands		USD in thousands			USD in thousands			USD in thousands			USD in thousands		USD in thousands			USD in thousands
Debentures (1)		206,527		89,989			10,444			521			-		-			307,481
Convertible Debentures (1)		-		96,343			3,741			1,207			-		-			101,291
Loans from banks and other financial institutions (1)		840,582		389,728			(9,154	)		13,801			-		(3,749	)(2)		1,231,208
Loans from non-controlling interests		46,241		10,530			(3,826	)		97			24,037		1,034			78,113
Lease liability		79,733		(6,344	)		(375	)		(1,243	)		22,802		11,072	(4)		105,645

		1,173,083		580,246			830			14,383			46,839		8,357			1,823,738

(1)

Including interest payable.

(2)

Mostly due to the offsetting of deferred borrowing costs which were prepaid by the project companies on the financial closing dates, and discounted finance expenses during the construction period.

(3)

Including interest accrued and interest paid.

(4)

Initial creation vis-à-vis right-of-use asset.

Share-Based Payment (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Disclosure of range of exercise prices of outstanding share options [text block]

Grant date	Number of offerees	Total number of options	Exercise price in NIS	Share price in NIS	Value of option in NIS	Value of option in USD	Number of options which were exercised as of the date of the financial report	Number of options which expired / were forfeited as of the date of the financial report	Expiration date of the options	Number of options remaining as of the date of the financial report
2/5/2018	6	310,000	18.40	18.05	7.70	2.24	228,564	36,250	2/5/2025	45,186
7/26/2018	2	80,000	19.08	18.38	8.35	2.30	40,000	-	7/26/2025	40,000
8/26/2018	5	200,000	18.75	18.85	8.63	2.37	114,069	30,000	8/26/2025	55,931
(A)(B)9/12/2018	2	1,350,000	19.61	19.05	8.55	2.38	373,228	-	9/12/2025	976,772
(B)10/28/2018	2	1,602,000	19.95	18.20	7.87	2.12	432,221	-	10/28/2025	1,169,779
11/1/2018	2	495,000	19.87	18.89	8.40	2.27	129,361	-	11/1/2025	365,639
4/4/2019	2	80,000	22.20	22.20	9.40	2.61	60,000	-	4/4/2026	20,000
5/27/2019	3	80,000	23.67	24.20	10.34	2.86	30,000	30,000	5/27/2026	20,000
11/28/2019	4	110,000	41.57	42.30	19.06	5.49	16,000	40,000	11/28/2026	54,000
(C)11/28/2019	1	100,000	41.97	42.30	18.00	5.19	-	-	11/28/2026	100,000
1/20/2020	20	271,500	44.68	49.10	19.70	5.70	49,500	59,250	1/20/2027	162,750
(D)4/12/2020	1	70,000	41.10	41.50	15.50	4.33	19,953	-	4/12/2027	50,047
5/17/2020	6	110,000	48.45	50.70	19.70	5.56	-	20,000	5/17/2027	90,000
7/23/2020	3	45,000	54.64	54.70	19.80	5.79	17,500	15,000	7/23/2027	12,500
10/13/2020	1	103,000	62.09	70.10	27.70	8.18	-	-	10/13/2027	103,000
11/10/2020	7	115,000	64.75	66.30	24.10	7.14	7,500	42,500	11/10/2027	65,000
5/25/2021	9	141,000	65.79	66.90	24.60	7.59	10,000	34,000	5/25/2028	97,000
9/30/2021	26	674,000	69.76	71.80	25.90	8.02	-	195,000	9/30/2028	479,000
9/30/2021	1	60,000	70.90	71.80	25.90	8.02	-		9/30/2028	60,000
(E)9/30/2021	4	1,182,000	71.80	71.80	25.90	8.02	-	240,000	9/30/2028	942,000
(F)9/30/2021	5	780,000	71.80	71.80	25.90	8.02	-	-	9/30/2028	780,000
10/31/2021	1	10,000	72.65	78.00	30.20	9.64	-	-	10/31/2028	10,000
2/8/2022	9	541,400	72.30	68.40	23.93	7.42	-	-	2/8/2029	541,400
2/13/2022	21	282,000	72.84	66.80	22.69	6.96	-	15,000	2/13/2029	267,000
4/17/2022	72	269,250	77.20	74.70	27.92	8.63	-	75,000	4/17/2029	194,250
(G)6/28/2022	1	100,000	68.64	69.60	28.14	8.19	-	-	6/28/2029	100,000
6/28/2022	9	146,000	63.93	69.60	29.53	8.59	-	-	6/28/2029	146,000
9/1/2022	10	97,000	79.65	81.60	33.82	10.05	-	-	9/1/2029	97,000
9/1/2022	1	10,000	81.43	81.60	33.15	9.85	-	-	9/1/2029	10,000
10/30/2022	1	25,000	78.19	74.20	29.10	8.24	-	-	10/30/2029	25,000
12/18/2022	9	126,000	74.66	74.00	30.26	8.79	-	-	12/18/2029	126,000
(J)3/14/2023	12	124,000	64.91	62.95	23.83	6.57	-	22,000	3/14/2030	102,000
(J)3/23/2023	37	114,000	60.32	62.50	24.73	6.85	-	21,000	3/23/2030	93,000
(H)(J)4/24/2023	2	220,000	61.52	59.10	23.63	6.45	-	-	4/24/2030	220,000
(J)5/25/2023	1	24,000	62.60	67.50	30.74	8.24	-	-	5/25/2030	24,000
(I)(J)12/18/2023	2	146,427	62.81	71.23	31.53	8.63	-	-	12/18/2030	146,427
Total		10,193,577					1,527,896	875,000		7,790,681

Disclosure of number and weighted average exercise prices of share options [text block]

Details on grants of the year ended December 31, 2023:

Grant date	03/14/2023			03/23/2023			04/24/2023			05/25/2023			12/18/2023

Number of options		124,000			114,000			220,000			24,000			146,427
Option value in NIS		23.83			24.73			23.63			30.74			31.53
Option value in USD		6.57			6.85			6.45			8.24			8.63
Exercise price in NIS		64.91			60.32			61.52			62.60			62.81
Share price in NIS		62.95			62.50			59.10			67.50			71.23
Risk-free interest rate		3.88	%		3.74	%		3.78	%		3.82	%		3.80	%
Standard deviation		32.81	%		32.86	%		33.09	%		33.19	%		33.83	%
Value of options in thousands NIS		2,955			2,819			5,199			738			4,617
Value of options in thousands USD		815			781			1,420			198			1,264

Lifetime of options	7 years

Details on grants of the year ended December 31, 2022:

Grant date	02/08/2022			02/13/2022			04/17/2022			06/28/2022			06/28/2022			09/01/2022			09/01/2022			10/30/2022			12/18/2022
Number of options		541,400			282,000			269,250			100,000			146,000			97,000			10,000			25,000			126,000
Option value in NIS		23.93			22.69			27.92			28.14			29.53			33.82			33.15			29.10			30.26
Exercise price in NIS		72.3			72.8			77.2			68.64			63.9			79.6			81.4			78.2			74.7
Share price in NIS		68.4			66.8			74.7			69.6			69.6			81.6			81.6			74.2			74
Risk-free interest rate		1.4	%		1.4	%		2.2	%		2.8	%		2.8	%		3.1	%		3.1	%		3.3	%		3.4	%
Standard deviation		33.5	%		33.5	%		33.9	%		34.4	%		34.4	%		34.5	%		34.5	%		34.4	%		34.6	%
Value of options in thousands NIS		12,956			6,399			7,517			2,814			4,311			3,281			332			728			3,813
Value of options in thousands USD		4,019			1,962			2,323			819			1,255			975			99			206			1,108

Lifetime of options	7 years

Balances and Transactions with Related Parties

12 Months Ended

Dec. 31, 2023

Disclosure of transactions between related parties [abstract]

Balances and Transactions with Related Parties

Note 28 - Balances and Transactions with Related Parties

Compensation, benefits and transactions with related parties:

	For the year ended December 31
	2023		2022
	USD in thousands		USD in thousands
Compensation and benefits which were given to related parties:

Payroll and related expenses to interested parties employed in the Company		749		604

Granting of options to interested parties employed in the Company		818		1717

Number of people to whom the benefit applies		1		1

Compensation for directors who are not employed in the Company		552		619

Number of people to whom the benefit applies		8		7

Granting of options to directors who are not employed in the Company		216		514

Number of people to whom the benefit applies		1		1

Engagements with interested parties and Related parties

Executive compensation subjects:

The terms of tenure and employment of the Company’s officers are determined in accordance with the Company’s compensation policy, as approved by the general meeting of the Company’s shareholders.

The terms for officers are generally consistent with the standard industry practice, and in accordance with the Company’s compensation policy, whereby the salary components of the Company’s officers include salary, variable compensation targets signifying entitlement to annual bonuses, options, social benefits, etc.

Presented below are several main subjects pertaining to the Company’s CEO and Chairman of the Board:

(1)

Gilad Yavetz (“Gilad”):

In the Company’s annual meeting in August 2021 (the “2021 Meeting”), a progressive salary program was approved for Gilad (the following also reflects the salary during the entire reporting year):

Relevant year	Updated base salary (NIS)	Number of annual bonus salaries subject to the fulfillment of targets which will be determined according to the Company’s compensation policy*
2021 (effective beginning from the date of the meeting’s approval)	86,600** (approximately USD 26,800)	6
2021 - Additional special compensation in respect of the closing of the Clēnera transaction - USA	150,000 (approximately USD 46,500)	Non-recurring
2022	95,000 (approximately USD 28,300)	8
2023	105,000 (approximately USD 29,800)	9

* The bonus amount may reach a level of 125% (i.e., above the foregoing salaries limit), subject to excellence targets which will be defined.

** Represents the average salary for 2021.

Gilad’s salary components also include, in addition to the foregoing, vehicle components, social benefits, reimbursement of expenses, advance notice / adjustment fees, etc., according to the standard practice, and in accordance with the Company’s compensation policy.

Grant of options, Gilad:

In 2018, a grant of options was approved for Gilad in the amount of 990,000 options, in accordance with the following terms. The options were allocated trough the capital gains track through a trustee, in accordance with section 102 of the Income Tax Ordinance. The exercise price of the options was determined proximate to the actual grant date of the options (which was done shortly after receiving approval from the TASE), according to the Company’s average share price during the 30 trading days preceding the grant date, plus a premium of 5%. The exercise price is not linked to the consumer price index. For additional details, see Note 18. The grant was performed on September 12, 2018.

Engagements with interested parties and Related parties (Cont.)

The granting of options which are exercisable on a cashless basis was performed through a capital gains track, subject to the provisions of section 102 of the Ordinance, and the Income Tax Rules (Tax Expedients Upon Allocation of Shares to Employees), 5763-2003. The exercise price of the options was determined according to the Company’s average share price during the 30 trading days preceding the grant date, plus a premium of 5%. The exercise price is not linked to the consumer price index.

The options will vest over a period of 4 years, as follows:

18% of the options vested one year after the grant date. Another 25% of the options will vest equally, on a quarterly basis, during the second year after the grant date. Another 30% of the options will vest equally, on a quarterly basis, during the third year after the grant date; Another 27% of the options will vest equally, on a quarterly basis, during the fourth year after the grant date. The options include an acceleration mechanism in case of a “control” event in the Company. Options may be converted to shares according to the cashless exercise mechanism.

On August 22, 2021, the Company’s special general meeting approved the allocation to Gilad Yavetz of 500,000 options, exercisable into up to 500,000 ordinary Company shares, at an exercise price of 71.89 per share. The grant was performed on September 30, 2021. See Note 18(F).

The options will vest over a period of 4 years, as follows: 25% of the options will vest one year after the grant date; Another 25% of the options will vest equally, on a quarterly basis, during the second year after the grant date; Another 40% of the options will vest equally, on a quarterly basis, during the third year after the grant date; Another 10% of the options will vest equally, on a quarterly basis, during the fourth year after the grant date.

Options may be converted to shares according to the cashless exercise mechanism, by which the number of shares which will result from the exercise of the options will be less than the number of converted options. The number of shares on a fully diluted basis is calculated according to the B&S model and/or the binomial model.

Yair Seroussi, Chairman of the Board:

(2)

In the 2021 meeting, the employment terms of Yair were re-approved and updated such that Yair’s annual compensation will amount to a total of NIS 600,000 (approximately USD 178 thousands) per year, effective beginning from the date of the meeting’s approval, to be paid in equal monthly payments against invoices (Mr. Seroussi is employed in a 40% position).

Grant of options, Yair:

In accordance with the terms of the Company’s options plan, equity compensation of 360,000 non-marketable Company options was approved for Yair (the “Options”). The options were allocated on September 12, 2018 without receiving payment. The grant was performed trough the capital gains track through a trustee, in accordance with section 102 of the Income Tax Ordinance. The exercise price of the options was determined according to the Company’s average share price during the 30 trading days preceding the grant date, plus a premium of 5%. The exercise price is not linked to the consumer price index. The options will vest on a quarterly basis over a period of 16 quarters. Options may be converted to shares according to the cashless exercise mechanism.

Engagements with interested parties and Related parties (Cont.)

Additionally, in the 2021 meeting, and in accordance with terms of the Company’s options plan, additional equity compensation of 142,000 non-marketable Company options was approved for Yair (the “Options”). The options were allocated without receiving payment. The grant was performed trough the capital gains track through a trustee, in accordance with section 102 of the Income Tax Ordinance. The options will be held by a trustee, as required in accordance with the provisions of the Income Tax Ordinance. The lock-up period pursuant to the Income Tax Ordinance is two years. The exercise shares will have the same rights, for all intents and purposes, as the rights which are available to the holders of ordinary Company shares. The exercise price of the options was determined according to the Company’s average share price during the 30 trading days preceding the grant date, plus a premium of 2%. The exercise price is not linked to the consumer price index. The options will vest over a period of 4 years, where at the end of the first year after the grant, 25% of the options will vest; 25% additional options will vest on a quarterly basis during the second year after the grant; 25% additional options will vest on a quarterly basis during the third year after the grant; 5% additional options will vest on a quarterly basis during the fourth year after the grant. Options may be converted to shares according to the cashless exercise mechanism, by which the number of shares which will result from the exercise of the options will be less than the number of converted options. The number of shares on a fully diluted basis is calculated according to the B&S model and/or the binomial model.

Revenues

12 Months Ended

Dec. 31, 2023

Revenue [abstract]

Revenues

Note 19 - Revenues

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands
Sale of electricity		242,808		173,992		83,034
Operation of facilities		4,634		7,066		11,275
Construction services		419		476		3,460
Management or development fees		7,841		10,638		4,692

Total		255,702		192,172		102,461

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Income Taxes [Line Items]
Group’s balance of carryforward losses	$ 109
Deferred taxes not created in respect of loss	$ 5
Corporate tax rate	23.00%	23.00%	23.00%
ISRAEL
Disclosure Of Income Taxes [Line Items]
Corporate tax rate	23.00%	23.00%
CROATIA
Disclosure Of Income Taxes [Line Items]
Corporate tax rate	18.00%
IRELAND
Disclosure Of Income Taxes [Line Items]
Corporate tax rate	15.00%
SERBIA
Disclosure Of Income Taxes [Line Items]
Corporate tax rate	9.00%
NETHERLANDS
Disclosure Of Income Taxes [Line Items]
Corporate tax rate	20.60%
HUNGARY
Disclosure Of Income Taxes [Line Items]
Corporate tax rate	10.00%
SPAIN
Disclosure Of Income Taxes [Line Items]
Corporate tax rate	25.00%
ITALY
Disclosure Of Income Taxes [Line Items]
Corporate tax rate	24.00%
UNITED STATES
Disclosure Of Income Taxes [Line Items]
Corporate tax rate	21.00%

Leases (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Presentation of leases for lessee [abstract]
Right-of-use assets	$ 121,348	$ 96,515
Lease liabilities	$ 127,595

Other Receivables (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Other Receivables [Abstract]

Disclosure of detailed information of other receivables

	December 31		December 31
	2023		2022
	USD in thousands		USD in thousands

Government institutions		8,665		6,409
Other receivables		19,594		20,288
Prepaid expenses		32,432		10,256

		60,691		36,953

General and Administrative Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
General And Administrative Expense [Abstract]
Payroll, salaries and associated expenses	$ 16,310	$ 16,526	$ 8,238
Professional services	5,282	4,120	2,942
Office and maintenance	2,120	1,963	965
Depreciation	1,954	1,705	1,054
Management and director fees	955	819	739
Insurance	2,655	98	118
Computer services	1,548	1,166	707
Others	2,479	2,342	806
Total	$ 33,303	$ 28,739	$ 15,569

Contract Assets in respect of Concession Arrangements for the Construction and Operation of Photovoltaic Systems (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Contract Assets In Respect Of Concession Arrangements For Construction And Operation Of Photovoltaic Systems [Abstract]
Balance as of January 1	$ 106,774	$ 287,042
Repayment of contract asset under concession arrangements	(14,120)	(17,579)	$ (32,857)
Finance incomes	9,643	17,188
Reclassification from IFRIC 12 into a fixed asset	0	(162,359)
Translation differences	(2,881)	(17,518)
Balance as of December 31	$ 99,416	$ 106,774	$ 287,042

Balances and Transactions with Related Parties (Narrative) (Details) $ / shares in Units, $ in Thousands			12 Months Ended
	Aug. 22, 2021 Share Year $ / shares shares	Sep. 12, 2018 Share	Dec. 31, 2023 ILS (₪)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 Share	Dec. 31, 2018 USD ($) Year
Disclosure of transactions between related parties [line items]
Number of options granted \| $				10,193,577
Gilad Yavetz [Member]
Disclosure of transactions between related parties [line items]
Number of options granted	500,000					990,000
Options vested \| Year	4					4
Options exercisable in to ordinary company shares \| shares	500,000
Exercise price of options \| $ / shares	$ 71.89
Gilad Yavetz [Member] \| Options vested one year after grant date
Disclosure of transactions between related parties [line items]
Percentage of options vested	25.00%					18.00%
Gilad Yavetz [Member] \| Options vest equally on quarterly basis during second year after grant date
Disclosure of transactions between related parties [line items]
Percentage of options vested	25.00%					25.00%
Gilad Yavetz [Member] \| Options vest equally on quarterly basis during third year after grant date
Disclosure of transactions between related parties [line items]
Percentage of options vested	40.00%					30.00%
Gilad Yavetz [Member] \| Options vest equally on quarterly basis during fourth year after grant date
Disclosure of transactions between related parties [line items]
Percentage of options vested	10.00%					27.00%
Yair Seroussi
Disclosure of transactions between related parties [line items]
Number of options granted \| Share		360,000			142,000
Key management personnel compensation			₪ 600,000	$ 178
Yair Seroussi \| Options vested one year after grant date
Disclosure of transactions between related parties [line items]
Percentage of options vested			25.00%	25.00%
Yair Seroussi \| Options vest equally on quarterly basis during second year after grant date
Disclosure of transactions between related parties [line items]
Percentage of options vested			25.00%	25.00%
Yair Seroussi \| Options vest equally on quarterly basis during third year after grant date
Disclosure of transactions between related parties [line items]
Percentage of options vested			25.00%	25.00%
Yair Seroussi \| Options vest equally on quarterly basis during fourth year after grant date
Disclosure of transactions between related parties [line items]
Percentage of options vested			5.00%	5.00%

Events After the End of the Reporting Period (Narrative) (Details) € in Millions, $ in Millions	Mar. 31, 2024 EUR (€)	Feb. 29, 2024	Jan. 31, 2024 USD ($)
Aria Energy Ltd [Member]
Disclosure of non-adjusting events after reporting period [line items]
Ownership percentage acquired		80.00%
PV projects in Hungary [Member]
Disclosure of non-adjusting events after reporting period [line items]
Loan facility \| €	€ 37.6
Energy Transition Technology Fund [Member]
Disclosure of non-adjusting events after reporting period [line items]
Investments \| $			$ 6

Share Capital (Details 1) $ / shares in Units, $ in Thousands	Dec. 31, 2023 ₪ / shares	Dec. 31, 2023 USD ($) $ / shares shares	Feb. 28, 2023 ₪ / shares	Feb. 21, 2023 shares	Dec. 31, 2022 ₪ / shares	Dec. 31, 2022 USD ($) shares	Aug. 16, 2022 ₪ / shares shares	Mar. 06, 2022 ₪ / shares shares	Dec. 31, 2021 shares
Disclosure of classes of share capital [line items]
Number of shares issued and fully paid \| shares				2,042,935			57,692,308	30,443,900
Issued capital		$ 3,293				$ 2,827
Par value per share \| (per share)		$ 0.1	₪ 18				₪ 0.1	₪ 0.1
Ordinary shares [member]
Disclosure of classes of share capital [line items]
Number of shares issued and fully paid \| shares		117,963,310				101,582,902			92,510,658
Share capital \| Ordinary shares [member]
Disclosure of classes of share capital [line items]
Issued capital		$ 3,293				$ 2,827
Par value per share \| ₪ / shares	₪ 0.1				₪ 0.1
Share premium \| Ordinary shares [member]
Disclosure of classes of share capital [line items]
Issued capital		$ 1,028,532				$ 762,516
Par value per share \| ₪ / shares	₪ 0.1				₪ 0.1

Debentures (Details) $ in Thousands	Dec. 31, 2023 ILS (₪)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Mar. 06, 2022 ILS (₪)	Jul. 30, 2021 ILS (₪)	Jun. 30, 2019 ILS (₪)	Jun. 30, 2018 ILS (₪)
Debentures [Line Items]
Debenture Current Liabilities		$ 26,233	$ 15,832
Debenture Non Current Liabilities		424,317	369,905
Debentures		450,550	385,737
Series E Debentures [Member]
Debentures [Line Items]
Debenture Current Liabilities		2,605	2,685
Debenture Non Current Liabilities		21,547	24,854
Debentures		24,152	27,539				₪ 135,000,000
Series F Debentures [Member]
Debentures [Line Items]
Debenture Current Liabilities		23,628	13,147
Debenture Non Current Liabilities		173,250	113,187
Debentures		196,878	126,334			₪ 222,000,000
Series C Debentures [Member]
Debentures [Line Items]
Debenture Current Liabilities		0	0
Debenture Non Current Liabilities		130,566	131,385
Debentures	₪ 80,570	130,566	131,385	₪ 164,363,000	₪ 367,220,000
Series D Debentures [Member]
Debentures [Line Items]
Debenture Current Liabilities		0	0
Debenture Non Current Liabilities		98,954	100,479
Debentures	₪ 385,970,000	$ 98,954	$ 100,479

Financial Instruments (Details 8) - USD ($) $ in Thousands	12 Months Ended
Financial Instruments (Details 8) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of changes in fair value measurement, assets [abstract]
Beginning Balance	$ 42,918
Ending Balance	53,466	$ 42,918
Reconciliation of changes in fair value measurement, liabilities [abstract]
Beginning Balance	(52,972)
Ending Balance	(22,941)	(52,972)
Financial assets
Reconciliation of changes in fair value measurement, assets [abstract]
Beginning Balance	42,918	28,682
Current Non Marketable Shares At Fair Value Through Profit Or Loss Additions	5,682	10,824
Current Non Marketable Shares At Fair Value Through Profit Or Loss Revaluation	2,940	4,868
Current Non Marketable Shares At Fair Value Through Profit Or Loss Translation Differences	(1,926)	(1,456)
Ending Balance	53,466	42,918
Financial liabilities
Reconciliation of changes in fair value measurement, liabilities [abstract]
Beginning Balance	(52,972)	(61,362)
Performance Based Contingent Consideration Under Earn Out Revaluation	25,377	6,678
Performance Based Contingent Consideration Under Earn Out Repayment	4,654	1,712
Ending Balance	$ (22,941)	$ (52,972)

Share Capital

12 Months Ended

Dec. 31, 2023

Disclosure of classes of share capital [abstract]

Share capital

Note 16 – Share Capital

In January 2023, the Company underwent a Reverse Share Split, which entailed the consolidation of its registered share capital in a 1:10 ratio. As a result, every ten pre-existing ordinary shares, which had a par value of 0.01 NIS, was merged into one ordinary share with a par value of 0.1 NIS.

The share capital presented in the Financial Statements has been duly adjusted to reflect the Reverse Share Split.

Registered capital

	December 31		December 31
	2023		2022
	Number of shares
Ordinary shares with par value of NIS 0.1		180,000,000		180,000,000

Issued capital:

	Share capital								Share premium
	As of December 31				As of December 31				As of December 31
	2023		2022		2023		2022		2023		2022
	Number of shares				USD in thousands		USD in thousands		USD in thousands		USD in thousands
Fully paid-up ordinary shares
with par value of NIS 0.1		117,963,310		101,582,902		3,293		2,827		1,028,532		762,516

Changes in fully paid-up share capital

	Number of shares
Balance as of January 1, 2022		92,510,658

Issuance of shares (1)		8,813,621

Exercise of options by employees		258,623

Balance as of December 31, 2022		101,582,902

Issuance of shares (2)		16,042,935

Exercise of options by employees		337,473

Balance as of December 31, 2023		117,963,310

(1)

On March 6, 2022, the Company completed an issuance of 30,443,900 ordinary Company shares, with a par value of NIS 0.1 each. The total (gross) consideration amounted to approximately NIS 228.9 million (USD 70.6 million).

On August 16, 2022, the Company completed an issuance of 57,692,308 ordinary Company shares with a par value of NIS 0.1 each, at a price of NIS 7.8 per share. The total consideration for the shares amounted to approximately NIS 450 million (USD 137.5 million).

(2)

On February 14, 2023, the Company completed an Initial Public Offering of 14,000,000 ordinary shares at USD 18 per share, on the Nasdaq Global Select Market (the: “Nasdaq IPO”).

On February 21, 2023, the company completed an additional allocation of 2,042,935 ordinary shares at a price of USD 18 per share, in accordance with an option granted to the Nasdaq IPO’s underwriters.

Accordingly, the total amount raised through the Nasdaq IPO amounts to approximately USD 290 million dollars in total.

Fixed Assets (Details 1)
$ in Thousands

12 Months Ended

Dec. 31, 2023

USD ($)

MWp

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Disclosure of detailed information about property, plant and equipment [line items]

PV + Storage [Member] | Pv Projects In Israel [Member]

$ 1,954

$ 1,705

$ 1,054

Disclosure of detailed information about property, plant and equipment [line items]

Israel

2012-2023

281.1

PV + Storage [Member] | Pv Projects In Israel [Member] | Bottom of range [Member]

$ 436,000

Disclosure of detailed information about property, plant and equipment [line items]

PV + Storage [Member] | Pv Projects In Israel [Member] | Top of range [Member]

50.10%

Disclosure of detailed information about property, plant and equipment [line items]

PV + Storage [Member] | Pv Projects In Hungary [Member]

100.00%

Disclosure of detailed information about property, plant and equipment [line items]

^[1]

Hungary

^[1]

2019-2023

^[1]

143

PV + Storage [Member] | Pv Projects In Hungary [Member] | Bottom of range [Member]

^[1]

$ 85,000

Disclosure of detailed information about property, plant and equipment [line items]

PV + Storage [Member] | Pv Projects In Hungary [Member] | Top of range [Member]

^[1]

50.10%

Disclosure of detailed information about property, plant and equipment [line items]

PV + Storage [Member] | Apex [Member]

^[1]

100.00%

Disclosure of detailed information about property, plant and equipment [line items]

United States

2023

105

90.10%

PV + Storage [Member] | Atrisco [Member]

$ 140,000

Disclosure of detailed information about property, plant and equipment [line items]

^[1]

United States

^[1]

^[1]

364

^[1]

90.10%

Disclosure Of Significant Accounting Policies [Abstract]

^[1]

$ 497,000

[1]	Projects under construction or include projects under construction

Leases (Details 1) $ in Thousands	12 Months Ended
Leases (Details 1) $ in Thousands	Dec. 31, 2022 USD ($)
Presentation of leases for lessee [abstract]
Interest expenses in respect of lease liability	$ (2,503)
Expenses attributed to variable lease payments which were not included in measurement of lease liability	(1,083)
Depreciation, right-of-use assets	(3,819)
Total	$ (7,405)

Material Accounting Policies

12 Months Ended

Dec. 31, 2023

Material Accounting Policies

Note 2 - Material Accounting Policies

Foreign currency

(1)

Functional currency and presentation currency

The financial statements of each of the Group’s subsidiaries were prepared in the currency of the main economic environment in which it operates (hereinafter: the “Functional Currency”). For the purpose of consolidating the financial statements, results and financial position of each of the Group’s member companies are translated into the NIS, which is the Company’s functional currency. The Group’s consolidated financial statements are presented in USD. For details regarding the exchange rates, and changes thereto, during the presented periods, see Note 1G.

(2)

Translation of transactions in currencies other than the functional currency:

In preparing the financial statements of each of the Group’s member companies, transactions in foreign currencies are translated to the respective functional currencies of Group entities at exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate at that date. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency at the beginning of the year, adjusted for effective interest and payments during the year, and the amortized cost in foreign currency translated at the exchange rate at the end of the year.

Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date that the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.

(3)

Method for recording exchange differences

Exchange differences are recognized under profit or loss during the period in when they arose, except for exchange differences in respect of monetary items receivable or payable from foreign operations, the settlement of which is not planned or expected, and which therefore constitute a part of a net investment in a foreign operation. These exchange differences are recognized under other comprehensive income, under the item for “exchange differences due to translation of foreign operations”, and are carried to the statement of income upon the realization of the net investment in the foreign operation, and upon loss of control, joint control, or significant influence of the foreign operation.

Exchange differences are classified under profit and loss in the items for finance income and expenses.

When the settlement of loans which were provided to a foreign operation by the Group is not planned or expected in the foreseeable future, profit and loss from exchange differences due to these monetary items are included as part of the investment in foreign operations, net, recognized under other comprehensive income, and presented under equity as part of “exchange differences due to translation of foreign operations”.

(4)

Translation of financial statements of investees whose functional currency is different from the Company’s functional currency

The financial statements of a foreign operation which is not directly held are translated to the NIS using the consolidation in stages method, in which the financial statements of the foreign operation are first translated to the functional currency of the direct parent company, and are then translated to the functional currency of the ultimate parent company. Therefore, upon the realization of a foreign operation which is not directly held, the Group re-classifies to the statement of income the cumulative amount in respect of which translation differences arose, according to the amount which would have been created had the foreign operation been translated directly into NIS.

(5)

Hedge of net investment in foreign operation

The Group applies hedge accounting to foreign currency differences arising between the functional currency of the foreign operation and the Company’s functional currency (NIS), regardless of whether the net investment is held directly or through an investee company.

Foreign currency differences arising on the translation of a financial liability designated as a hedge of a net investment in a foreign operation are recognized in other comprehensive income to the extent that the hedge is effective, and are presented within equity as part of the translation reserve. To the extent that the hedge is ineffective, such differences are recognized in profit or loss. When the hedged part of a net investment is disposed of, the relevant amount in the translation reserve is transferred to profit or loss as part of the profit or loss on disposal.

Basis of consolidation

(1)

Business combinations

The Group implements the acquisition method to all business combinations. The acquisition date is the date when the acquirer obtains control of the acquired entity. Control exists when the Group is exposed, or holds rights, to variable returns from its involvement in the acquired entity, and when it is able to affect those returns through its power over the acquired. Substantive rights held by the Group and others are taken into account when assessing control.

The Group recognizes, on the acquisition date, the contingent liability which was accepted in a business combination, if there is a commitment in the present which is due to past events, and whose fair value is reliably measurable. The consideration transferred includes the fair value of the assets which were transferred to the previous owner of the acquired entity, liabilities which materialized for the acquiree towards the previous owner of the acquired entity, and equity interests which were issued by the Group. Additionally, goodwill is not updated due to the use of carryforward tax losses which existed on the date of the business combination.

The consideration transferred also includes the fair value of contingent consideration. After the acquisition date, the Group recognizes changes in the fair value of the contingent consideration which is financial liability a financial liability in the statement of income.

Acquisition-related costs which materialized for the buyer in respect of a business combination, such as agency fees, consulting fees, legal fees, valuations and other fees in respect of professional services or consulting services, except for those which are associated with the issuance of debt or equity instruments in connection with the business combination, are recognized as an expense in the period when the services are received.

(2)

Goodwill

The Group recognizes goodwill as of the acquisition date according to the fair value of the consideration which was transferred, after deducting the net amount which was attributed in the acquisition to the identifiable assets which were acquired, and to the liabilities which were accepted. Goodwill is initially recognized as an asset at cost, and is measured in subsequent periods at cost after deducting accumulated impairment losses.

For the purpose of testing for impairment, goodwill is allocated to each of the Group’s cash generating units which are expected to benefit from the business combination’s synergy. Cash-generating units to which goodwill was allocated are tested for impairment each year, or more frequently when indicators exist of possible impairment of that unit. When the recoverable amount of a cash-generating unit is lower than that unit’s carrying value, the impairment loss is first allocated to the amortization of the carrying value of any goodwill which is attributed to the cash generating unit. Subsequently, the balance of impairment loss, if any, is allocated to other assets of the cash generating unit, in proportion to their carrying value. Impairment loss of goodwill is not reversed in subsequent periods.

(3)

Issuance of put option to non-controlling interests

Put options issued by the Group to non-controlling interests, which are settled in cash, is recognized as a liability at the present value of the exercise addition, against carrying to the goodwill which was created on the date of the business combination. Changes in the liability in respect of the put option to non-controlling interests are recognized in the statements of income according to the effective interest method; however, for changes in the subsequent measurement of the put option, the possibility is evaluated of capitalizing them as non-specific credit to balances of qualifying assets, in accordance with the International Accounting Standard (IAS) 23, “Borrowing Costs”.

The profit attributable to the Company’s owners in the statements of income include the share of non-controlling interests to whom the Company has issued a put option, in the results of the investee company, including in cases where the non-controlling interests have access to the returns arising from the interests in the investee company.

Dividends which are distributed to non-controlling interests in a subsidiary, hold a put option, is recorded as an expense in the statements of income, while investments made by non-controlling interests are recorded as income.

(4)

Acquisition of property company

Upon the acquisition of a property company, the Group exercises judgment in its evaluation of whether it constitutes the acquisition of a business or a property, for the purpose of determining the accounting treatment for the transaction. In its evaluation of whether a property company constitutes a business, the Group evaluates, inter alia, whether the existing process or processes in the property company, including the scope and nature of the management, security, cleaning and maintenance services. Transactions in which the acquired company is a business are treated as a business combination, as specified above. However, transactions in which the acquired company is not a business are treated as a group of assets and liabilities. In transactions of this kind, the acquisition cost, including transaction costs, is proportionately allocated to the identifiable assets and liabilities which were acquired, based on their proportional fair value as of the acquisition date. In the latter case, goodwill is not recognized, and deferred taxes are not recognized, in respect of temporary differences which exist as of the acquisition date. When the Company engages in a transaction to purchase an asset (a transaction which does not constitute a business combination), and the purchase consideration includes contingent consideration which depends on the occurrence of future events which are not under the Company’s control, a contingent consideration liability is initially recognized on the date when the asset is recognized.

Classification of interest paid, dividends paid and interest and dividends received in the statement of cash flows

The Group classifies cash flows in respect of interest and dividends which it received, and cash flows in respect of interest paid, as cash flows which arose from, or were used in, operating activities. Cash flows in respect of income taxes are generally classified as cash flows used in operating activities, unless these are readily identifiable as cash flows used in investing or financing activities. Dividends that are paid by the Group are classified as cash flows from financing activities.

Fixed assets

(1)

General

Fixed assets are tangible items which are held for the purpose of use in the production or provision of goods or services, which are expected to be used in more than one period.

Fixed asset items are presented in the statement of financial position at cost less accumulated depreciation, and less accumulated impairment loss. The cost includes the asset’s purchase cost, and costs which are directly attributable to bringing the asset to the location and condition which are required for its operation in the manner intended by management. The cost of qualifying assets also includes borrowing costs to be capitalized, as stated in section D(4) below. For details regarding the impairment testing of fixed assets, see section H.

Fixed asset items include photovoltaic, storage and wind energy facilities for production of electricity, when those systems are not covered under IFRIC 12 and other equipment.

(2)

Subsequent costs

The cost of replacing part of a fixed asset item and other subsequent costs are capitalized if it is probable that the future economic benefits associated with them will flow to the Group and their cost can be measured reliably. The carrying value of a replaced part of the fixed asset item is derecognized. Current maintenance costs are carried to profit or loss as incurred.

(3)

Depreciation of fixed assets

Components of a depreciable fixed asset item with a significant cost compared to the total cost of the item are depreciated separately. Depreciation is performed systematically, on a straight-line basis, over the expected useful lifetime of the item’s components, from the date when the asset was ready for its intended use, while taking into account its expected residual value at the end of its useful lifetime.

The useful lifetimes, depreciation rates and depreciation methods used in calculating depreciation are as follows:

	Useful lifetime	Depreciation rates	Depreciation method
Wind farms	25-30 years	3.33%-4%	Straight line
Photovoltaic systems	30-35 years	2.86%-3.33%	Straight line
Automatic cleaning systems	20 years	5%	Straight line
Others	3-14 years	7%-33.33%	Straight line

The asset’s depreciation method, useful lifetime and residual value are reviewed by Company management at the end of each fiscal year. Changes are treated as prospective changes in estimate.

Profit or loss which has arisen due to the sale or expense from the use of a fixed asset item is determined according to the difference between the proceeds from its sale and its carrying value on the date of sale or removal from use, and carried to the statement of income as an “Other income”.

(4)

Borrowing costs

A qualifying asset is an asset regarding which a significant period of time is necessary in order to prepare it for its intended use, or for its sale.

(A)

Borrowing costs which are directly attributable to the purchase or construction of facilities for the production of electricity, where preparing them for their intended use requires a significant period of time, are capitalized to the cost of those assets until the date when those assets are ready for their intended use.

(B)

The Company determines the amount of borrowing costs which are not directly attributable, and which are capitalizable, by attributing a capitalization rate for expenses in respect of qualifying assets. This capitalization rate is the weighted average of borrowing costs which are appropriate for the Company’s credit during that period, which is not directly attributable to the project. The Company capitalizes borrowing costs which are not directly attributable, in an amount which does not exceed the total sum of borrowing costs which arose for it during that period. Exchange differences in respect of loans denominated in a currency other than the functional currency are capitalized to the cost of those assets, to the extent where they are considered an adjustment of interest costs. All other borrowing costs are recognized in the statement of income on the date of their creation.

(5)

Liability in respect of the costs of dismantling and removal of the facility and restoring the site where the facility is located

The cost of a fixed asset item includes, inter alia, the costs of dismantling and removal of the item and the restoration of the site on which it is located, which give rise to a liability for the entity upon acquisition of the item or as a result of the use of the item over a specific duration, other than for the creation of inventory in such period. After the initial recognition date, Changes in the foregoing liability until the end of the item’s depreciation period are added to or subtracted from the asset in the current period. Changes in the aforesaid liability due to the passage of time are recognized in profit or loss as finance expenses as incurred.

Deferred costs in respect of projects

Deferred costs in respect of projects are costs which were accrued for the development of projects, and for which it is probable that economic benefits will derive to the Company in the future and the costs can be measured reliably. In assessing whether such expenditures can be capitalized, the Company evaluates, among other factors, the likelihood in succeeding to develop a project (i.e. taking into account both physical and regulatory aspects), the progress phase in the development, the Company's experience in the geographic area and with the related regulator, whether there are other obstacles or competitors that might affect the probability to successfully develop etc. The Company assess such likelihood of success in each individual case, If it is probable that the relevant project will be materialized. these costs are capitalized and presented under the item for “deferred costs in respect of projects” in the statement of financial position. If during the process it is no longer probable that the project can be materialized, any related amounts that were previously capitalized are written off (i.e. expensed). Once all the approvals obtained and the project is ready to be constructed on, the related development costs that have been deferred are classified to Fixed assets.

Service concession arrangements

The Company received from the state of Israel, through the Public Utilities Authority - Electricity (hereinafter: the “Electricity Authority”), licenses (concessions) for the construction of facilities for the production of electricity using photovoltaic technology, or through wind energy, for the purpose of providing services involving the production of electricity from renewable energy sources, and also engaged in agreements with Israel Electric Corporation (hereinafter: the “IEC”) to purchase the electricity which is produced in those facilities (hereinafter: the “Purchase Agreement”), in BOO (Build, Operate, Own) agreements.

The Electricity Authority determines the tariff that will be paid for the electricity produced in the photovoltaic facilities on the date of tariff approval, and thereby controls it, and requires the operator to sign the purchase agreement as a condition for the receipt of the permanent production license.

With respect of photovoltaic facilities in Israel which commenced operation until December 31, 2016, the Company made specific economic calculations for each of the facilities which it owns, and reached the conclusion that the residual value from additional continued operation, beyond 20 years, is negligible relative to the facility’s total value.

In accordance with the above, the appropriate treatment of these photovoltaic facilities is in accordance with IFRIC 12, and the Company is adopted the financial asset model, as defined in that interpretation.

The treatment in the Company’s books in respect of the foregoing facilities is as follows -

The total consideration which is expected to be received throughout the license period is allocated to the construction services and to the operating services based on the proportional fair value figures of those services.

•

The value of the construction services is determined according to the construction costs, plus the standard construction margin, according to the Company’s estimate.

•

The value of the operating services is determined according to the operating costs, plus the standard margin, according to the Company’s estimate.

Interest income is recognized throughout the license period according to the effective interest method, based on the rate of return which reflects the relevant risks during the construction and operation period of the project. This income is recognized in the statement of cash flows under operating activities, as activities not associated with cash flows.

Proceeds attributable to the repayment of the asset are classified in the statement of cash flows Activity under operating activities, as activity in respect of concession arrangements - repayment of contract asset.

The consideration which is recognized on the date of revenue recognition, as stated above, is treated as a contract asset covered under IFRS 15 (see section M(2) below) throughout the entire period of the concession arrangement, and is not reclassified in the commercial operation stage to a financial asset (receivables) covered under IFRS 9, since the contractual right to receive payment for the services in accordance with the arrangement arises as the facilities commence operation and producing electricity in practice, and does not only depend on the passage of time.

For details regarding the timing of recognition of revenue from the provision of services, see section M(2) below.

For details regarding the impairment of financial assets, see section I(4) below.

With respect of the change in the treatment of “Haluziot” facility see Note 8.

Intangible assets

Concession rights

The Company has agreements for the provision of electricity and concession agreements which are presented at cost, after deducting amortization (except as stated in section F), and are amortized according to the useful lifetime which was determined for the facility to which they are attributed.

The concession rights have definite useful lifetimes and are amortized in a straight line throughout their estimated useful lifetime, subject to an impairment test. Changes in the estimated useful lifetime of an intangible asset with a definite lifetime are treated prospectively.

Goodwill

Goodwill which was created due to the acquisition of subsidiaries is presented under intangible assets. For details regarding the measurement of goodwill upon initial recognition, see section B(2) above.

In subsequent periods, goodwill is measured at cost after deducting accumulated impairment losses.

Impairment of non-financial assets

At the end of each reporting period, the Group evaluates the carrying value of its tangible and intangible assets, in order to determine whether any indicators of impairment exist in respect of those assets. In case indicators of this kind exist, the recoverable amount of the asset is estimated in order to determine the amount of impairment loss which was created, if any. When it is not possible to measure the recoverable amount of an individual asset, the Group estimates the recoverable amount of the revenue-generating unit to which the asset belongs.

Intangible assets with indefinite useful lifetimes, and intangible assets which are not yet available for use, are tested for impairment once per year, or more frequently, in case of indicators of the asset’s impairment.

Financial assets

(1)

General

Financial assets are recognized in the statement of financial position when the Group becomes a party to the instrument’s contractual terms.

(2)

Financial assets measured at fair value

Investments in financial assets are initially recognized at fair value plus transaction costs, except for financial assets which are classified at fair value through profit and loss, which are initially recognized at fair value. Transaction costs in respect of financial assets at fair value through profit or loss are charged immediately as an expense to profit or loss. After initial recognition, financial assets are measured at amortized cost or at fair value, depending on their classification.

(3)

Financial assets measured at amortized cost

Debt instruments are measured at amortized cost upon the fulfillment of the following two conditions:

•

The Group’s business model is to hold the assets with the aim of collecting contractual cash flows, and

•

The contractual terms of the asset establish precise dates when the contractual cash flows will be received which constitute principal and interest payments only.

The amortized cost of a financial asset is the amount at which the financial asset is measured upon initial recognition, after deducting principal payments, plus or less accumulated amortization, using the effective interest method, of any difference between the initial amount and the repayment amount, adjusted for any provision for credit loss.

Trade receivables, restricted cash, contract assets in respect of concession arrangements and other receivables with fixed payments, are measured at amortized cost using the effective interest method, after deducting impairment, if any. Interest income is recognized using the effective interest method, except in respect of short term receivables, when the interest amounts to be recognized are immaterial.

(4)

Impairment of financial assets

In respect of trade receivables, the Group adopts the lenient approach to the measurement of a provision for impairment, according to the probability of insolvency throughout the instrument’s entire lifetime. The expected credit loss in respect of these financial assets is estimated using a matrix of provisions which is based on the Company’s past experience regarding credit losses, and adjusted for factors which are specific to the borrower, general economic conditions, and an assessment both of the current trend of conditions, and of the projected trend of conditions, as of the reporting date, including the time value of money, as required.

For contract assets in respect of concession arrangements, the Group recognizes a provision for impairment according to the expected credit losses throughout the instrument’s entire lifetime, when there has been a significant increase in the credit risk since their date of initial recognition. If, however, the asset’s credit risk has not significantly increased since the date of its initial recognition, the Group measures the provision for impairment according to the probability of insolvency in the coming 12 months.

Financial liabilities and equity instruments which were issued by the Group

(1)

Classification as a financial liability or as an equity instrument

Liabilities and equity instruments which were issued by the Group are classified as financial liabilities or as equity instruments in accordance with the nature of the contractual arrangements, and the definition of a financial liability and equity instrument.

(2)

Financial liabilities

Financial liabilities are presented and measured according to the following classification:

•

Financial liabilities at fair value through profit or loss (derivatives not designated in hedge accounting relationship).

•

Financial liabilities at amortized cost.

Financial liabilities at amortized cost:

The Group has loans from banks and others which were initially recognized at fair value less transaction costs. After the initial recognition date, these loans are measured at amortized cost using the effective interest method.

(3)

Debentures convertible into Company shares

Debentures which are convertible to a fixed number of Company shares, where the principal and/or interest payments for them are not linked to a currency other than the Company’s functional currency, or to the consumer price index, constitute compound financial instruments. On the issuance date of the debentures, the components of the convertible debentures are separated, whereby the liability component is presented under long term liabilities (after deducting current maturities), and the equity component is presented under equity. The fair value of the liability component is determined according to the standard market interest rate for financial instruments with similar characteristics, which do not include a conversion option. The balance of consideration in respect of the convertible debentures is attributed to the conversion option implicit therein, and is presented in equity, under the item for “proceeds on account of convertible options”. This component is recognized and included under equity after deducting the income tax impact, and is not remeasured in subsequent periods. The issuance costs are allocated on a proportionate basis to the components of the hybrid financial instrument, in accordance with the allocation of the consideration.

(4)

Capital notes

Consolidated companies have interest bearing capital notes which are repayable upon the liquidation of the companies, after the settlement of all of their liabilities. Notwithstanding the foregoing, the companies are entitled, in their exclusive discretion, and subject to the terms of the financing agreements, to perform full or partial repayment of the capital notes and of the interest which has accrued in respect thereof.

Due to the fact that, according to the terms of the capital notes, the companies do not have a contractual obligation to deliver cash / other financial assets to the other party, the entire contract does not meet the definition of a financial liability, and is therefore classified as an equity instrument. In light of the foregoing, the Group does not recognize interest expenses in respect of the share of non-controlling interests in the capital notes, in the statement of income. On the date when the consolidated company performs a full or partial repayment of the capital notes, the Group recognizes the payment which is attributed to the interest that has accrued in respect of the capital notes, by amortizing the balance of non-controlling interests.

(5)

Deferred borrowing costs

Costs which the Company pays in respect of the receipt of credit from banks and other financial institutions, whereby, as of the balance sheet date, borrowing costs which have not been used in practice (all or part) are carried to the asset “deferred borrowing costs”. Upon the receipt of credit in practice, the proportional part of the costs is carried to the loan, and is taken into account in the effective interest rate.

Derivative financial instruments and hedge accounting

The Group holds derivative financial instruments for the purpose of hedging against foreign currency risks, interest rate risks, and electricity price change risk, as well as derivatives which are not used for hedging purposes. For additional details on the derivatives which the Group uses, see Note 26.

Derivative financial instruments are initially recognized on the date of the engagement and at the end of each subsequent reporting period, according to their fair value. Derivative which was designated for hedging purposes and fulfills all of the conditions for the determination of a hedge relationship, the effective portion of the changes in fair value of the derivative is recognized in other comprehensive income, directly to a hedging reserve. The effective portion of changes in fair value of a derivative, recognized in other comprehensive income, is limited to the cumulative change in the fair value of the hedged item (based on present value), from inception of the hedge. The change in fair value in respect of the ineffective portion is recognized immediately in the statement of income in finance income or finance expenses.

When the result of the expected transaction is the recognition of a non-financial item, the amounts which accrued in the hedging reserve are included in the initial cost of the non-financial item, on the realization date of the hedge transaction.

Hedge accounting is not applied to derivative instruments which are used for economic hedging of financial assets and liabilities denominated in foreign currency. Changes in the fair value of such derivatives are included in finance income or expenses in the statement of income.

Tax equity partnership

The company owns and operates certain projects in the U.S. under tax equity structures to finance the construction of solar projects. Tax equity partnerships are characterised by a tax equity partner, who contributes an upfront payment as part of the initial project investment and generally does not have an operational role in the project. The partner receives a contractually agreed return on the contribution. In order to ‘repay’ the initial contribution and the return, a disproportionate share of the production tax credits (PTCs) or the investment tax credits (ITCs) and other tax attributes (accelerated tax depreciation and other taxable results) are allocated to the partner during the first part of the project's lifetime.

The tax equity structure used in the financial statements is the sale and leaseback transaction (according to IFRS 16). The Company sells eligible solar projects to tax partner and enters into master lease agreements to lease the solar project back for an agreed-upon term. The Company has assessed these arrangements and determined that the transfer of assets should not be accounted for as a sale in accordance with IFRS 15. Therefore, the Company accounts for these transactions using the financing method by recognizing the consideration received as a financing obligation, with the assets subject to the transaction remaining on the balance sheet of the Company and depreciated based on the Company's normal depreciation policy. The aggregate proceeds have been recorded as debt within the consolidated balance sheets. Eligible income tax credits are transferred to the tax partner upon completion of a sale of a solar project. Transfer of tax credits recognized as deferred gain on Company balance sheet. This deferred gain is amortized over time using a straight-line method. Income from amortization is included in other income on our statements of income.

Another structure of Tax Equity is the Flip Point. As of December 31, 2023, the company has no projects that have used this structure.

Revenue recognition

Revenue from contracts with customers is recognized in the statement of income when (or insofar as) the control of the asset is transferred to the customer.

Presented below are the specific criteria regarding revenue recognition, which must be fulfilled in order to recognize revenue:

(1)

Revenues from the sale of electricity

Revenues from the sale of electricity are carried to the income statement when the performance obligation to transfer the electricity is satisfied upon the actual delivery of electricity to the customer. The Group’s revenue from its business activities mostly arises from its Power Purchase Agreements (PPA) to provide electricity to local electricity authorities in its operating countries. The agreements are for a predetermined period and at a fixed tariff. The remaining produced electricity which is sold out of these agreements is sold at market conditions.

(2)

Revenues from operation of facilities (service concession arrangements)

Revenues from operation of facilities in concession arrangements are recognized in the period when the Group provides the services throughout the service period. The agreements are for a predetermined period and at a fixed tariff. When the Group provides more than one type of services as part of a concession arrangement, the received consideration is allocated proportionally, according to the fair value of the provided services, if these amounts can be identified separately.

Distinction between “contract assets” and “receivables”

When the Group provides construction services to a customer before the date of payment from a customer in accordance with the agreement, the Company presents the receivable consideration as a “contract asset”, except for any amounts which are presented under “receivables”. “Contract assets” represent the Group’s right to consideration in respect of services which it has performed for the customer. “Receivables” represent the Group’s right to non-contingent consideration. The right to consideration is not conditional if only the passage of time is required before the repayment date of that consideration. The Group presents, in the consolidated statement of financial position, “contract assets” in respect of contracts with customers separately from receivables. Contract assets are presented under the item for “contract assets in respect of service concession arrangements” (for additional details, see section F above), while receivables are presented under the item for “trade receivables”.

(3)

Revenues from construction services

In the field of EPC contracting, the Company is engaged in a long-term agreement of providing construction services for a fixed price. Revenues attributed to the construction services are recognized when the performance obligation is satisfied which is based on the completion rate of the work which was performed. The completion rate is determined based on the estimate of total costs required to fulfill the performance obligation. Revenues from the provision of construction services, are recognized in the period when the Group provides the services. The Group recognizes, in the consolidated statement of income, revenues and costs from construction services to an entity held as an associate, and therefore, the total income and costs in these consolidated reports represents the partners’ share in the aforementioned associate entity.

(4)

Revenues from management or development fees

The Company, through a subsidiary, has entered into a long-term agreements of providing development and operational management services to projects under development and operational projects owned by third parties for a fixed price. Revenues are recognized on a straight line basis when the performance obligation to provide the service is satisfied throughout the service period.

Share-based payment transactions

Share-based payments to employees and others who provide similar services are settled with the Group’s equity instruments which are measured at fair value on the grant date. The Group measures, on the grant date, the fair value of the granted equity instruments, using the binomial model (for details regarding the method used to measure the fair value of share-based payments, see Note 18).

In transactions when a subsidiary grants to its employees' rights in the parent Company’s equity instruments, the Group treats the grant as an equity-settled share‑based payment transaction.

Income taxes

(1)

General

Expenses (income) from income taxes include the total current taxes, prior year taxes, and the total change in deferred tax balances, except for deferred taxes due to transactions carried directly to equity. In the calculation of tax expenses, the Company is required to use discretion when determining the tax liability, and its timing. Differences, if any, between the Company’s estimate regarding the tax provision and the actual tax results are carried as prior year tax expenses (income) in the period when the final tax liability is determined.

(2)

Current taxes

Current tax expenses are calculated based on the taxable income of the Company and of consolidated companies during the reporting period. Taxable income is different from profit before income taxes due to the inclusion or non-inclusion of income and expense items which are taxable or deductible in different reporting periods, or which are non-taxable or non-deductible. Assets and liabilities in respect of current taxes were calculated based on the tax rates and tax laws which were enacted, or substantially enacted, until the date of the statement of financial position.

Current tax assets and liabilities are presented after offsetting when the entity has a legally enforceable right to offset the amounts which were recognized, and the intention to settle the asset on a net basis, and to settle the liability simultaneously.

(3)

Deferred taxes

The Group’s consolidated entities create deferred taxes in respect of temporary differences between the values for tax purposes of assets and liabilities, and their values in the financial statements. Deferred tax balances (asset or liability) are calculated according to the tax rates which are expected to apply at the time of their realization, based on the tax rates and tax laws which were enacted, or substantially enacted, until the date of the statement of financial position. Deferred tax liabilities are generally recognized in respect of all of the temporary differences between the values for tax purposes of assets and liabilities, and their values in the financial statements. Deferred tax assets are recognized in respect of all of the deductible temporary differences, up to the amount in which taxable income is expected to arise against which it will be possible to use the deductible temporary difference.

The Group does not create deferred taxes in respect of temporary differences due to the initial recognition of an asset or liability in a transaction which is not a business combination, when, on the transaction date, the initial recognition of the asset or liability does not affect the accounting gains or taxable income (loss for tax purposes).

The calculation of deferred taxes does not include taking into account the taxes which would have applied in case of the realization of the investments in investee companies, since the Group intends to hold and develop the investments. Additionally, deferred taxes are not taken into account in respect of profit distributions from Israeli companies, due to the fact that dividends from Israeli companies are not taxable, while on the other hand, in respect of profit from foreign companies, the Company created deferred taxes in respect of distributable accumulated profits, if any, in accordance with the Company’s expectation that these profits will be distributed in the foreseeable future.

Deferred tax assets and liabilities are presented after offsetting if the entity has a legally enforceable right to offset current tax assets against current tax liabilities, and if they pertain to income taxes which are levied by the same tax authority, and the Group intends to settle the deferred tax assets and liabilities on a net basis.

(4)

Uncertain tax positions

A provision in respect of uncertain tax positions, including additional tax expenses and interest, is recognized when it is more likely than not that the Group will require economic resources to settle the liability.

Employee benefits

Post-employment benefits

Post-employment benefits include severance pay. The Company’s employees have signed section 14 of the Severance Pay Law, 5723-1963, which prescribes that its routine contributions to pension funds and/or policies in insurance companies release it from any additional liability towards the employees, for which the foregoing amounts have been contributed, and therefore, those benefits classified as a defined contribution plan. Expenses in respect of the Group’s undertaking to contribute funds as part of a defined contribution plan are carried to the statement of income on the date of provision of the work services, for which the Company is obligated to make the contribution. The difference between amount of the payable contribution and the total sum of paid contributions is presented as a liability.

Contingent consideration as part of a business combination for services to be provided by employees to the company are measured in accordance with IAS19 employee benefits.

Fixed Assets (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Disclosure of detailed information about property, plant and equipment [line items]

$ 2,220,734

$ (162,359)

Gross carrying amount [member]

2,947,369

2,220,734

Disclosure of detailed information about property, plant and equipment [line items]

2,295,924

1,530,457

4,422

4,053

^[1]

774,795

743,430

^[2]

(21,828)

^[1]

162,359

1,432

28,703

(145,807)

Accumulated impairment [member]

3,082,016

2,295,924

Disclosure of detailed information about property, plant and equipment [line items]

75,190

41,628

^[2]

(3,098)

58,835

36,884

(3,720)

(3,322)

Disclosure of detailed information about property, plant and equipment [line items]

134,647

75,190

PV + Storage [Member]

512,347

PV + Storage [Member] | Gross carrying amount [member]

1,153,804

512,347

Disclosure of detailed information about property, plant and equipment [line items]

529,426

122,565

1,632

^[1]

692,754

280,518

^[2]

(21,828)

^[1]

162,359

1,432

(22,590)

(37,448)

PV + Storage [Member] | Accumulated impairment [member]

1,179,394

529,426

Disclosure of detailed information about property, plant and equipment [line items]

17,079

10,726

^[2]

(3,098)

11,839

7,678

(230)

Disclosure of detailed information about property, plant and equipment [line items]

25,590

17,079

Wind farms [Member]

1,704,770

Wind farms [Member] | Gross carrying amount [member]

1,788,329

1,704,770

Disclosure of detailed information about property, plant and equipment [line items]

1,760,859

1,403,984

2,790

4,053

^[1]

79,466

460,722

^[2]

^[1]

51,393

(107,900)

Wind farms [Member] | Accumulated impairment [member]

1,894,508

1,760,859

Disclosure of detailed information about property, plant and equipment [line items]

56,089

29,498

^[2]

46,058

28,445

(4,032)

(1,854)

Disclosure of detailed information about property, plant and equipment [line items]

106,179

56,089

Others [Member]

3,617

Others [Member] | Gross carrying amount [member]

5,236

3,617

Disclosure of detailed information about property, plant and equipment [line items]

5,639

3,908

^[1]

2,575

2,190

^[2]

^[1]

(100)

459

Others [Member] | Accumulated impairment [member]

8,114

5,639

Disclosure of detailed information about property, plant and equipment [line items]

2,022

1,404

^[2]

938

761

(82)

143

Disclosure of data regarding the EUR, HRK, HUF and NIS exchange rates, and regarding the CPI

$ 2,878

$ 2,022

[1]	A total of approximately USD 28 million out of the additions applies to the capitalization of borrowing costs which arose from the construction of the qualifying assets period (2022: approximately USD 39 million).
[2]	During 2023 the Company sold two consolidated entities “Dorot” and “Talmei Yafe”. For additional information see Note 29A (22).

General (Tables)

12 Months Ended

Dec. 31, 2023

General Description [Abstract]

	Representative exchange rate												CPI(*)
	EUR			NIS			HUF			HRK			Known index
	(USD to 1)												In points
Date of the financial statements:
As of December 31, 2023		1.006			0.249			0.0029			N/A(	**)		113.7
As of December 31, 2022		1.066			0.284			0.0027			0.142			110.1

	%			%			%			%			%
Rates of change:
For the year ended:
As of December 31, 2023		(5.6	)		(12.3	)		7.4			N/A(	**)		3.3
As of December 31, 2022		(5.8	)		(11.8	)		(12.9	)		(5.3	)		5.4

(*)

Base: 2012 average = 100.

(**)

Following the change of currency in Croatia from HRK to EUR (effective from the beginning of 2023), the HRK currency is no longer active.

Income Taxes (Details 1) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Line Items
Beginning balance	$ (9,450)	$ 9,453
Recognized in the statement of income		(4,882)
Other comprehensive income	(9,450)
Recognized in equity	12,308	(14,021)
Initial consolidation	14,049
Ending balance	(35,807)	(9,450)
Temporary differences
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Line Items
Beginning balance	(41,849)	(18,385)
Recognized in the statement of income		(13,052)
Other comprehensive income	(41,849)
Recognized in equity	(11,241)	(10,412)
Initial consolidation	(13,074)
Ending balance	(66,164)	(41,849)
Fixed assets
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Line Items
Beginning balance	(14,620)	(7,227)
Recognized in the statement of income		(8,627)
Other comprehensive income	14,620
Recognized in equity	(1,465)	1,234
Initial consolidation	421
Ending balance	(15,664)	(14,620)
IFRS 16 – Leases
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Line Items
Beginning balance	845	1,389
Recognized in the statement of income		(400)
Other comprehensive income	845
Recognized in equity	649	(144)
Initial consolidation	(19)
Ending balance	1,475	845
Financial instruments measured at fair value through profit or loss
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Line Items
Beginning balance	(5,556)	6,447
Recognized in the statement of income		846
Other comprehensive income	(5,556)
Recognized in equity	468	(12,849)
Initial consolidation	(7,231)
Ending balance	(12,319)	(5,556)
Contractual asset in respect of concession arrangements
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Line Items
Beginning balance	(16,723)	(19,725)
Recognized in the statement of income		744
Other comprehensive income	(16,723)
Recognized in equity	1,042	2,258
Initial consolidation	508
Ending balance	(15,173)	(16,723)
Contingent consideration
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Line Items
Beginning balance	(1,584)	574
Recognized in the statement of income		(2,193)
Other comprehensive income	(1,584)
Recognized in equity	(8,477)	35
Initial consolidation	(35)
Ending balance	(10,096)	(1,584)
Others
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Line Items
Beginning balance	(4,211)	157
Recognized in the statement of income		(3,422)
Other comprehensive income	(4,211)
Recognized in equity	(3,458)	(946)
Initial consolidation	(6,718)
Ending balance	(14,387)	(4,211)
Tax losses
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Line Items
Beginning balance	32,399	27,838
Recognized in the statement of income		8,170
Other comprehensive income	32,399
Recognized in equity	(1,067)	(3,609)
Initial consolidation	(975)
Ending balance	$ 30,357	$ 32,399

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about earnings per share

Basic earnings per share

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands
Profit attributable to the Company’s owners for the purpose of calculating basic earnings per share		70,924		24,749		11,217

	For the year ended December 31
	2023		2022		2021

Weighted average of the number of ordinary shares used for the purpose of calculating basic earnings per share (*)		115,721,346		97,335,870		93,749,219

Diluted earnings per share:

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands
Profit which was used to calculate diluted earnings per share		70,924		24,749		11,217

	For the year ended December 31
	2023		2022		2021

Weighted average of the number of ordinary shares used to calculate diluted earnings per share (*)		123,861,293		99,978,133		98,108,669

(*) The number of ordinary shares is after giving effect to the Reverse Share Split. See also Note 16.

Fixed Assets (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about property, plant and equipment [line items]

Disclosure of detailed information about fixed assets

	2023
	PV + Storage (A)			Wind farms (B)		Others			Total
	USD in thousands
Cost:
As of January 1, 2023		529,426			1,760,859		5,639			2,295,924
Capitalization – IFRS 16		1,632			2,790		-			4,422
Additions (1)		692,754			79,466		2,575			774,795
Sale of consolidated companies (2)		(21,828	)		-		-			(21,828	)
Translation differences		(22,590	)		51,393		(100	)		28,703
Cost as of December 31, 2023		1,179,394			1,894,508		8,114			3,082,016

Accumulated depreciation:
As of January 1, 2023		17,079			56,089		2,022			75,190
Depreciation expenses		11,839			46,058		938			58,835
Sale of consolidated companies (2)		(3,098	)		-		-			(3,098	)
Translation differences		(230	)		4,032		(82	)		3,720
Accumulated depreciation as of December 31, 2023		25,590			106,179		2,878			134,647

Carrying value as of December 31, 2023		1,153,804			1,788,329		5,236			2,947,369

	2022
	PV + Storage (A)			Wind farms (B)			Others			Total
	USD in thousands
Cost:
As of January 1, 2022		122,565			1,403,984			3,908			1,530,457
Capitalization – IFRS 16		-			4,053			-			4,053
Additions (1)		280,518			460,722			2,190			743,430
Reclassification from IFRIC 12		162,359			-			-			162,359
Initial consolidation		1,432			-			-			1,432
Translation differences		(37,448	)		(107,900	)		(459	)		(145,807	)
Cost as of December 31, 2022		529,426			1,760,859			5,639			2,295,924

Accumulated depreciation:
As of January 1, 2022		10,726			29,498			1,404			41,628
Depreciation expenses		7,678			28,445			761			36,884
Translation differences		(1,325	)		(1,854	)		(143	)		(3,322	)
Accumulated depreciation as of December 31, 2022		17,079			56,089			2,022			75,190

Carrying value as of December 31, 2022		512,347			1,704,770			3,617			2,220,734

(1)

A total of approximately USD 28 million out of the additions applies to the capitalization of borrowing costs which arose from the construction of the qualifying assets period (2022: approximately USD 39 million).

(2)

During 2023 the Company sold two consolidated entities “Dorot” and “Talmei Yafe”. For additional information see Note 29A (22).

PV + Storage [Member]

Disclosure of detailed information about property, plant and equipment [line items]

Disclosure of detailed information about review of project for fixed assets

Electricity production projects	PV Projects in Israel	PV Projects in Hungary(*)	APEX	Atrisco(*)
Country	Israel	Hungary	United States	United States
Year of commercial operation (if applicable)	2012-2023	2019-2023	2023	-
Installed capacity	281.1 MWp+519.2 MWh storage	143 MWp	105 MWp	364 MWp+1200Mwh
Effective holding rate	50.1%-100%	50.1%-100%	90.1%	90.1%
Depreciated cost as of December 31, 2023	USD 436 million	USD 85 million	USD 140 million	USD 497 million

(*) Projects under construction or include projects under construction

Wind farms [Member]

Disclosure of detailed information about property, plant and equipment [line items]

Disclosure of detailed information about review of project for fixed assets

Electricity production projects	EWK	Lukovac	SOWI	Picasso	Björnberget
Country	Serbia	Croatia	Kosovo	Sweden	Sweden
Year of commercial operation	2019	2018	2021	2021	2023
Installed capacity	105 MWp	49 MWp	105 MWp	113 MWp	372 MWp
Effective holding rate	50.1%	50.1%	60%	68.8%	55.18%
Depreciated cost as of December 31, 2023	USD 143 million	USD 50 million	USD 136 million	USD 141 million	USD 390 million

Electricity production projects	Emek HaBacha	Ruach Beresheet	Gecama
Country	Israel	Israel	Spain
Year of commercial operation	2022	2023	2022
Installed capacity	109 MWp	189 MWp	329 MWp
Effective holding rate	40.85%	54%	72%
Depreciated cost as of December 31, 2023	USD 192 million	USD 377 million	USD 340 million

Share Capital (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of classes of share capital [abstract]

Disclosure of registered capital

	December 31		December 31
	2023		2022
	Number of shares
Ordinary shares with par value of NIS 0.1		180,000,000		180,000,000

Disclosure of issued capital

	Share capital								Share premium
	As of December 31				As of December 31				As of December 31
	2023		2022		2023		2022		2023		2022
	Number of shares				USD in thousands		USD in thousands		USD in thousands		USD in thousands
Fully paid-up ordinary shares
with par value of NIS 0.1		117,963,310		101,582,902		3,293		2,827		1,028,532		762,516

Disclosure of changes in fully paid-up share capital

	Number of shares
Balance as of January 1, 2022		92,510,658

Issuance of shares (1)		8,813,621

Exercise of options by employees		258,623

Balance as of December 31, 2022		101,582,902

Issuance of shares (2)		16,042,935

Exercise of options by employees		337,473

Balance as of December 31, 2023		117,963,310

(1)

(2)

On February 14, 2023, the Company completed an Initial Public Offering of 14,000,000 ordinary shares at USD 18 per share, on the Nasdaq Global Select Market (the: “Nasdaq IPO”).

Income Taxes

12 Months Ended

Dec. 31, 2023

Disclosure Of Income Taxes [Abstract]

Income Taxes

Note 15 - Income Taxes

Deferred tax balances:

Tax balances presented in the statement of financial position:

	As of December 31
	2023			2022
	USD in thousands			USD in thousands
Current tax assets (liabilities):
Current tax assets		3,316			286
Current tax liabilities		(10,565	)		(6,225	)
Total current tax assets (liabilities)		(7,249	)		(5,939	)

Non-current tax assets (liabilities):
Deferred tax assets		9,134			4,683
Deferred tax liabilities		(44,941	)		(14,133	)
Total non-current tax assets (liabilities)		(35,807	)		(9,450	)

The composition of deferred tax assets (liabilities) is specified below:

	Balance as of January 1 2023			Recognized in the statement of income			Other comprehensive income			Balance as of December 31 2023
	USD in thousands			USD in thousands			USD in thousands			USD in thousands
Temporary differences:
Fixed assets		(14,620	)		(1,465	)		421			(15,664	)
IFRS 16 – Leases		845			649			(19	)		1,475
Financial instruments		(5,556	)		468			(7,231	)		(12,319	)
Contractual asset in respect of concession arrangements		(16,723	)		1,042			508			(15,173	)
Contingent consideration		(1,584	)		(8,477	)		(35	)		(10,096	)
Others		(4,211	)		(3,458	)		(6,718	)		(14,387	)
Total		(41,849	)		(11,241	)		(13,074	)		(66,164	)

Unused losses and tax benefits:
Tax losses		32,399			(1,067	)		(975	)		30,357
		32,399			(1,067	)		(975	)		30,357

Total		(9,450	)		(12,308	)		(14,049	)		(35,807	)

The composition of deferred tax assets (liabilities) is specified below: (Cont.)

	Balance as of January 1 2022			Recognized in the statement of income			Other comprehensive income			Balance as of December 31 2022
	USD in thousands			USD in thousands			USD in thousands			USD in thousands
Temporary differences:
Fixed assets		(7,227	)		(8,627	)		1,234			(14,620	)
IFRS 16 – Leases		1,389			(400	)		(144	)		845
Financial instruments		6,447			846			(12,849	)		(5,556	)
Contractual asset in respect of concession arrangements		(19,725	)		744			2,258			(16,723	)
Contingent consideration		574			(2,193	)		35			(1,584	)
Others		157			(3,422	)		(946	)		(4,211	)
Total		(18,385	)		(13,052	)		(10,412	)		(41,849	)

Unused losses and tax benefits:
Tax losses		27,838			8,170			(3,609	)		32,399
		27,838			8,170			(3,609	)		32,399

Total		9,453			(4,882	)		(14,021	)		(9,450	)

Deferred tax assets and liabilities are presented offset when the Company has a legally enforceable right to offset current tax assets against current tax liabilities, and when they pertain to income taxes levied by the same tax authority, and the Company intends to settle the current tax assets and liabilities on a net basis.

Total expenses (income) from income taxes which were recognized in the statement of income:

	For the year ended December 31
	2023			2022			2021
	USD in thousands			USD in thousands			USD in thousands
Current taxes:
Current tax expenses		17,715			8,061			2,422
Prior year taxes		(1,595	)		-			-
Total current taxes		16,120			8,061			2,422

Deferred taxes:
Deferred tax expenses in respect of the creation and reversal of temporary differences		11,241			13,052			34
Income (expenses) from the creation of deferred taxes in respect of losses and unused tax benefits		1,067			(8,170	)		3,238
Total deferred taxes		12,308			4,882			3,272

Total expenses from income taxes		28,428			12,943			5,694

Reconciliation between the theoretical tax on the pre-tax profit and the tax expense

Presented below is an adjustment between the tax amount which would have applied had all of the income and expenses, profit and loss in the statement of income been taxable according to the statutory tax rate, and the amount of income tax which was carried to the statement of income:

	For the year ended December 31
	2023			2022			2021
	USD in thousands			USD in thousands			USD in thousands
Profit before income taxes from continuing operations		126,469			51,056			27,369
Primary tax rate of the Company		23	%		23	%		23	%
Tax calculated according to the Company’s primary tax rate		29,088			11,743			6,295

Additional tax (tax saving) in respect of:
No controlling share in the profits / losses of investee partnerships		(1,653	)		(896	)		(531	)
Different tax rate of foreign subsidiaries		(2,080	)		(1,644	)		(2,370	)
Non-deductible expenses		1,662			3,150			1,853
Exempt income		(1,282	)		(1,170	)		(354	)
Utilization of tax losses and benefits from prior years		924			310			179
Temporary difference in respect of subsidiaries for which deferred taxes were not recognized		3,433			1,270			631
Change in taxes in respect of previous years		(1,847	)		143			(77	)
Others		183			37			68
Total income taxes from continuing operations as presented in profit or loss		28,428			12,943			5,694

Carryforward losses

The Company’s balance of carryforward losses as of December 31, 2023 was approximately USD 109 million; Deferred taxes were not created in respect of a loss in the amount of USD 5 million.

Details regarding the Group’s tax environment

(1)

Presented below are the tax rates which were relevant to the Group’s activity in Israel during the years 2022-2023:

2022 - 23%

2023 - 23%

(2)

Taxation of subsidiaries outside of Israel:

Subsidiaries which are incorporated outside of Israel are assessed according to the tax laws in the countries where they are domiciled. The main tax rates which applied to the main subsidiaries incorporated outside of Israel are:

•

Entities incorporated in Croatia: The corporate tax rate which applies to the Company’s activity in Croatia is 18%.

•

Entities incorporated in Serbia: The corporate tax rate which applies to the Company’s activity in Serbia is 15%.

•

Entities incorporated in Hungary: The corporate tax rate which applies to the Company’s activity in Hungary is 9%.

•

Entities incorporated in Sweden: The corporate tax rate which applies to the Company’s activity in Sweden is 20.6%.

•

Entities incorporated in Kosovo: The corporate tax rate which applies to the Company’s activity in Kosovo is 10%.

•

Entities incorporated in Spain: The corporate tax rate which applies to the Company’s activity in Spain is 25%.

•

Entities incorporated in the United States: The federal tax rate is 21%, and the state tax rate depends on the project’s location.

•

Entities incorporated in Italy: The corporate tax rate is 24%, and the state tax rate depends on the project’s location.

Balances and Transactions with Related Parties (Details) ₪ in Thousands	12 Months Ended
	Dec. 31, 2023 ILS (₪) People	Dec. 31, 2022 ILS (₪) People
Disclosure of transactions between related parties [abstract]
Payroll And Related Expenses To Interested Parties Employed	₪ 749	₪ 604
Granting Of Options To Interested Parties Employed	₪ 818	₪ 1,717
Options Granted To Number Of People \| People	1	1
Key management personnel compensation, share-based payment	₪ 552	₪ 619
Directors Compensation For Number Of People \| People	8	7
Granting Of Options To Directors Who Not Employed	₪ 216	₪ 514
Options Granted To Directors Who Are Not Employed Number Of People \| People	1	1

Other Payables (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Disclosure Of Other Payables [Abstract]

Accrued expenses

$ 10,489

$ 9,992

Provision for construction completion cost

42,475

31,508

Liabilities to employees and other liabilities for salaries

20,850

18,707

Government institutions

13,642

8,784

Payables in respect of purchase transaction

^[1]

10,428

4,304

Interest payable in respect of debentures

3,541

2,761

Interest payable in respect of loans

1,949

1,161

248

647

Disclosure of detailed information about financial instruments [line items]

$ 103,622

$ 77,864

[1]

The balance as of December 31, 2021 and December 31, 2022 was due to a future liability to the sellers in wind projects in Sweden (Picasso), Kosovo (SOWI) and Spain (GECAMA) and to the sellers in wind projects in Kosovo (SOWI) and Spain (GECAMA), respectively. In 2021 in respect of the project in Spain (GECAMA), there is an additional balance of payables in the amount of NIS 3.5 million (EUR 1 million), repayable in periods exceeding one year after the balance sheet date, and which therefore appear separately as other long term payables.

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about the evaluation of derivative financial instruments, mostly forward transactions and currency options

Amount
receivable in
transaction
currency

Amount
payable in
transaction
currency

Fair value

Project

Millions

Expiration date

USD millions

Foreign currency forward contracts (1)

Ruach Beresheet

EUR 11.8

NIS 47.3

January 2024

0.04

Foreign currency forward contracts (1)

Storage 2

USD 34.2

NIS 123.6

January 2024

0.13

(1)

Hedging transaction to hedge against the EUR/NIS exchange rate and the USD/NIS exchange rate, based on the schedule of payments to the main contractors of the projects.

Disclosure of sensitivity analysis of changes in foreign currency exchange rates

	As of December 31, 2023
	Increase 5%								Decrease 5%
	OCI			Pre-tax profit			Value		Pre-tax profit		OCI
5% Change in the currency exchange rate	USD in thousands

ILS vs EURO
Loans to foreign operations		-			(803	)		16,052		803		-

Equity of foreign operations
ILS vs EURO		(43,583	)		-			871,663		-		43,583
ILS vs HUF		(367	)		-			7,345		-		367
Total effect OCI		(43,950	)		-			879,008		-		43,950

	As of December 31, 2022
	Increase 5%									Decrease 5%
	OCI			Pre-tax profit			Value			Pre-tax profit			OCI
5% Change in the currency exchange rate	USD in thousands

ILS vs EURO
Loans to foreign operations		-			(844	)		16,874			844			-

EURO vs HRK
Restricted cash		-			84			1,673			(84	)		-
Loans to foreign operations		-			174			3,489			(174	)		-
Loans from banks		-			(1,399	)		(27,974	)		1,399			-
Total effect on pre-tax profit		-			(1,985	)		(5,938	)		1,985			-

Equity of foreign operations
ILS vs EURO		(34,695	)		-			693,904			-			34,695
ILS vs HUF		(551	)		-			11,015			-			551
ILS vs HRK		(613	)		-			12,258			-			613
Total effect on OCI		(35,859	)		-			717,177			-			35,859

Disclosure of sensitivity analysis of change in index

	As of December 31, 2023
	Increase 3%						Decrease 3%
	Pre-tax profit			Carrying value			Pre-tax profit
3% Change in the index rate	USD in thousands

Contract assets		2,982			99,416			(2,982	)
Loans to investee entities		188			6,264			(188	)
Loans to non-controlling interests		158			5,267			(158	)
Loans from banks and other financial institutions		(24,965	)		(816,087	)		23,972
Other financial liabilities		(78	)		(2,591	)		78

		(10,814	)		(707,731	)		10,814

	As of December 31, 2022
	Increase 3%						Decrease 3%
	Pre-tax profit			Carrying value			Pre-tax profit
3% Change in the index rate	USD in thousands

Financial assets measured at fair value through profit or loss		389			12,974			(389	)
Contract assets		3,203			106,773			(3,203	)
Loans to investee entities		199			6,622			(199	)
Loans to non-controlling interests		170			5,680			(170	)
Loans from banks and other financial institutions		(15,602	)		(791,379	)		15,523
Other financial liabilities		(80	)		(2,751	)		80

		(11,721	)		(662,081	)		11,642

Disclosure of analysis of financial instruments by linkage bases and currency types

	As of December 31, 2023
	Linked to the EUR			Linked to the USD			Linked to the HUF			Linked to the CPI			Unlinked			Total
	USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands

Current assets:
Cash and cash equivalents		82,577			136,633			1,858			-			182,737			403,805
Deposits in banks		5,308			-			-			-			-			5,308
Restricted cash		78,543			16,270			-			-			47,882			142,695
Trade receivables		29,556			340			520			-			12,684			43,100
Other receivables		11,676			-			-			432			4,263			16,371
Other financial assets		-			805			-			-			171			976

		207,660			154,048			2,378			432			247,737			612,255
Non-current assets:
Restricted cash		22,913			-			4,007			-			11,971			38,891
Long term receivables		30,534			-			-			-			6			30,540
Financial assets measured at fair value through profit or loss		53,466			-			-			-			-			53,466
Loans to equity-accounted entities		3,036			-			-			6,264			26,578			35,878
Other financial assets		70,398			-			4,193			4,835			-			79,426

		180,347			-			8,200			11,099			38,555			238,201
Current liabilities:
Credit and current maturities in respect of loans from banks and other financial institutions		(63,819	)		(212,202	)		(1,759	)		(46,886	)		-			(324,666	)
Trade payables		(9,663	)		(94,445	)		(20	)		-			(1,446	)		(105,574	)
Other payables		(20,796	)		(15,503	)		(1,894	)		(1,571	)		(49,264	)		(89,028	)
Current maturities in respect of Debentures		-			-			-			-			(26,233	)		(26,233	)
Current maturities of lease liability		(1,751	)		-			(102	)		(6,221	)		(39	)		(8,113	)
Financial liabilities measured at fair value through profit or loss		-			(13,860	)		-			-			-			(13,860	)
Other financial liabilities		-			(1,224	)		-			-			-			(1,224	)

		(96,029	)		(337,234	)		(3,775	)		(54,678	)		(76,982	)		(568,698	)

Non-current liabilities:
Debentures		-			-			-			-			(293,751	)		(293,751	)
Convertible Debentures		-			-			-			-			(130,566	)		(130,566	)
Loans from banks and other financial institutions		(645,265	)		(116,151	)		(32,229	)		(767,810	)		(141,470	)		(1,702,925	)
Loans from non-controlling interests		(80,006	)		-			-			-			(12,744	)		(92,750	)
Lease liability		(35,464	)		-			(1,395	)		(82,306	)		(319	)		(119,484	)
Employee benefits		-			(4,784	)		-			-			-			(4,784	)
Financial liabilities through profit or loss		-			(32,113	)		-			(2,411	)		-			(34,524	)
Other financial liabilities		-			(62,020	)		-			-			-			(62,020	)

		(760,735	)		(215,068	)		(33,624	)		(852,527	)		(578,850	)		(2,440,804	)

Total assets (liabilities), net		(468,947	)		(398,254	)		(26,821	)		(895,674	)		(369,540	)		(2,159,236	)

	As of December 31, 2022
	Linked to the EUR			Linked to the USD			Linked to the HRK*			Linked to the HUF			Linked to the CPI			Unlinked			Total
	USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands

Current assets:
Cash and cash equivalents		56,327			1,582			49,535			2,752			-			83,673			193,869
Deposits in banks		4,054			-			-			-			-			-			4,054
Restricted cash		16,551			-			3,732			558			-			71,262			92,103
Financial assets measured at fair value through profit or loss		-			366			-			-			12,974			20,555			33,895
Trade receivables		29,074			785			601			325			-			9,037			39,822
Other receivables		880			-			-			-			427			4,872			6,179
Current maturities of loans to investee entities		-			-			-			-			432			-			13,893
Other financial assets		-			-			-			-			-			1,493			1,493

		106,886			2,733			53,868			3,635			13,401			204,785			385,308

Non-current assets:
Restricted cash		20,140			-			1,281			3,782			-			13,525			38,728
Long term receivables		4,765			-			-			-			-			2			4,767
Financial assets measured at fair value through profit or loss		42,918			-			-			-			-			-			42,918
Loans to equity-accounted entities		3,429			-			-			-			6,622			4,133			14,184
Other financial assets		78,811			-			-			10,332			5,253			-			94,396

		150,063			-			1,281			14,114			11,875			17,660			194,993
Current liabilities:
Credit and current maturities in respect of loans from banks and other financial institutions		(54,071	)		(75,576	)		(1,585	)		(1,535	)		(32,860	)		-			(165,627	)
Trade payables		(13,532	)		(15,495	)		-			(68	)		-			(5,543	)		(34,638	)
Other payables		(20,920	)		(15,567	)		(1,242	)		(240	)		(1,143	)		(28,925	)		(68,037	)
Current maturities in respect of Debentures		-			-			-			-			-			(15,832	)		(15,832	)
Current maturities of lease liability		(1,528	)		-			-			(80	)		(4,202	)		(40	)		(5,850	)
Financial liabilities measured at fair value through profit or loss		-			(35,283	)		-			-			-			-			(35,283	)
other financial liabilities		(50,255	)		-			-			-			-			-			(50,255	)

		(140,306	)		(141,921	)		(2,827	)		(1,923	)		(38,205	)		(50,340	)		(375,522	)

Non-current liabilities:
Debentures		-			-			-			-			-			(238,520	)		(238,520	)
Convertible Debentures		-			-			-			-			-			(131,385	)		(131,385	)
Loans from banks and other financial institutions		(572,166	)		(42,797	)		(14,358	)		(32,193	)		(757,543	)		-			(1,419,057	)
Loans from non-controlling interests		(76,787	)		-			-			-			-			(14,121	)		(90,908	)
Lease liability		(33,769	)		-			-			(1,134	)		(58,535	)		(335	)		(93,773	)
Employee benefits		-			(12,238	)		-			-			-			-			(12,238	)
Financial liabilities through profit or loss		-			(45,484	)		-			-			(2,584	)		-			(48,068	)

		(682,722	)		(100,519	)		(14,358	)		(33,327	)		(818,662	)		(384,361	)		(2,033,949	)

Total assets (liabilities), net		(566,079	)		(239,707	)		37,964			(17,501	)		(831,591	)		(212,256	)		(1,829,170	)

*On December 31, 2022 the EURO currency replaces the HRK

Disclosure of detailed information about carrying values of financial instruments which are exposed to cash flow risks in respect of interest rate changes

	As of December 31, 2023
	Increase 2%			Carrying			Decrease 2%
	Pre-tax profit			value			Pre-tax profit
2% Change in the interest rate	USD in thousands

Euribor-linked loan from banks		(1,805	)		(90,259	)		1,805
SOFR-linked credit from banks (1)		-			(116,151	)		-

		(1,805	)		(206,410	)		1,805

	As of December 31, 2022
	Increase 2%			Carrying			Decrease 2%
	Pre-tax profit			value			Pre-tax profit
2% Change in the interest rate	USD in thousands

Euribor-linked loan from banks		(895	)		(44,764	)		895
SOFR-linked credit from banks (1)		-			(118,373	)		-

		(895	)		(163,137	)		895

(1)

The company has loans which are linked to the SOFR interest rate. The loans are used to finance projects under construction. Interest expenses during the construction period are capitalized to the cost of the facility, and have no impact on the Company’s results.

Disclosure of maturity analysis for financial assets held for managing liquidity risk

	As of December 31, 2023(**)
																After
	2024			2025			2026			2027			2028			2028			Total
	USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands
Liability in respect of deferred consideration arrangement		(417	)		(398	)		(342	)		(342	)		(342	)		(2,430	)		(4,271	)
Performance-based contingent consideration (“Earn Out”), see Note 7A(1)		(27,564	)		(4,143	)		(12,237	)		-			-			-			(43,944	)
Liability in respect of put option		-			-			-			-			-			(25,372	)		(25,372	)
Loans from non-controlling interests		(4,492	)		(12,482	)		(13,074	)		(11,709	)		(12,460	)		(57,862	)		(112,079	)
Debentures^(*)		(36,510	)		(54,135	)		(161,232	)		(55,563	)		(102,804	)		(54,006	)		(464,250	)
Credit and loans from banks and other financial institutions ^(*)		(366,969	)		(173,269	)		(166,445	)		(209,582	)		(214,636	)		(1,379,280	)		(2,510,181	)
lease back liability		(3,520	)		(3,547	)		(3,555	)		(3,610	)		(3,570	)		(60,152	)		(77,954	)
Lease liability		(7,584	)		(7,147	)		(7,018	)		(6,969	)		(6,868	)		(66,512	)		(102,098	)

		(447,056	)		(255,121	)		(363,903	)		(287,775	)		(340,680	)		(1,645,614	)		(3,340,149	)

(*)

The above figures are presented according to their par values on the repayment date, including unaccrued interest, linked to the CPI / exchange rate as of the balance sheet date.

(**)

The Company has commitments in power purchase agreements which are not reflected in the Company’s statement of financial position.

Disclosure of detailed information about the fair value of financial assets and financial liabilities

As of December 31, 2023:

	Level 1		Level 2			Level 3			Total
	USD in thousands		USD in thousands			USD in thousands			USD in thousands
Financial Assets at fair value:
Contracts in respect of forward transactions		-		171		-				171

Interest rate swaps		-		63,208		-				63,208

Non-marketable shares measured at fair value through profit or loss		-		-			53,466			53,466

Transactions to peg electricity prices swap (CFD differences contract)		-		11,384			-			11,384

Financial liabilities at fair value:

Interest rate swaps		-		(7,217	)		-			(7,217	)

Performance-based contingent consideration (“Earn Out”), see Note 7A(1)		-		-			(22,941	)		(22,941	)

Deal contingent hedge		-		(5,539	)		-			(5,539	)

As of December 31, 2022:

	Level 1		Level 2			Level 3			Total
	USD in thousands		USD in thousands			USD in thousands			USD in thousands
Financial Assets at fair value:
Financial assets measured at fair value through profit or loss		33,895	-			-				33,895

Contracts in respect of forward transactions		-		1,493		-				1,493

Interest rate swaps		-		89,143		-				89,143

Non-marketable shares measured at fair value through profit or loss		-		-			42,918			42,918

Financial liabilities at fair value:

Transactions to peg electricity prices swap (CFD differences contract)		-		(50,255	)		-			(50,255	)

Performance-based contingent consideration (“Earn Out”), see Note 7A(1)		-		-			(52,972	)		(52,972	)

Disclosure of reconciliation from the opening balance to the closing balance of financial instruments carried at fair value level 3 of the fair value hierarchy

	2023		2022
	Financial assets
Non-marketable shares measured at fair value through profit or loss	USD thousands
Balance as of January 1		42,918		28,682
Investment		5,682		10,824
Revaluation (*)		2,940		4,868
Translation differences		1,926		(1,456	)
Balance as of December 31		53,466		42,918

	2023			2022
	Financial liabilities
Performance-based (“earn out”) contingent consideration	USD thousands
Balance as of January 1		(52,972	)		(61,362	)
Revaluation		25,377			6,678	)
Repayment		4,654			1,712
Balance as of December 31		(22,941	)		(52,972	)

(*)

Under financing income and expenses.

Disclosure of detailed information about the financial assets and financial liabilities not measured at fair value in statement of financial position

		Carrying value				Fair value
		As of December 31				As of December 31
	Fair value level	2023		2022		2023		2022
		USD in thousands		USD in thousands		USD in thousands		USD in thousands
Debentures	Level 1		454,091		388,498		430,889		364,203

Loans from banks and other financial institutions (1)	Level 3		1,305,642		1,200,199		876,561		908,964

Liability in respect of deferred consideration arrangement (1)	Level 3		2,591		2,750		3,019		3,602

Disclosure of detailed information about the other financial liabilities

	December 31			December 31
	2023			2022
	USD in thousands			USD in thousands
Current assets
Other financial assets
Contracts in respect of forward transactions		171			1,493
Interest rate swaps		805
Non-current assets
Other financial assets
Loans to non-controlling interests		4,834			5,253
Transactions to peg electricity prices swap (CFD differences contract)		11,384			-
Interest rate swaps		63,208			89,143

		80,403			95,889
Current liabilities
Other financial liabilities
Transactions to peg electricity prices swap (CFD differences contract)		-			(50,255	)
Interest rate swaps		(154	)		-
lease back liability		(1,070	)		-
Financial liabilities through profit or loss
Performance-based contingent consideration (“Earn Out”) (1)		(13,860	)		(35,282	)
Liability in respect of deferred consideration arrangement (2)		(180	)		(167	)
Non-current liabilities
Other financial liabilities
Interest rate swaps		(7,868	)		-
Deal contingent hedge		(5,539	)		-
lease back liability		(48,613	)		-
Financial liabilities through profit or loss
Liability in respect of deferred consideration arrangement (2)		(2,411	)		(2,584	)
Performance-based contingent consideration (“Earn Out”) as well as the founder’s put option (1)		(32,113	)		(45,484	)

		(111,808	)		(133,772	)

(1)

For additional details, see Note 7A(1).

(2)

The Company has liabilities in respect of deferred consideration arrangements for initiation services which were provided by some of the towns in Halutziot project. In exchange for the initiation services, those towns are entitled to a percentage of the distributable free cash flows, as defined in the agreement. The balance of the liability in respect of the deferred consideration arrangement including current maturities (see also Note 11), as of December 31, 2023 and 2022, amounted to USD 2,591 thousand and USD 2,750 thousand, respectively.

Interest rate swap contract [member]

Disclosure of detailed information about financial instruments [line items]

Disclosure of interest rate swap contracts which were designated as hedging instruments

	Interest rates		Par value	Repayment date	Carrying value
Hedged contract	Original	After hedging	Thousands	Final	USD in thousands
Loan to finance the Lukovac project	3 month Euribor	0.75%	18,153 EURO 20,078 USD	31/03/2031	1,218
Loan to finance the Picasso project	3 month Euribor	1.08%	71,205 EURO 78,755 USD	31/03/2039	5,425
Loan to finance the Gecama project	6 month Euribor	0.147%	144,850 EURO 160,210 USD	30/06/2035	24,174
Loan to finance the Attila projects	3 month Bubor	1.445%-3.7%	12,346,053 HUF 35,674 USD	31/12/2030	4,193
Loan to finance the Bjorn project	6 month Euribor	0.526%	162,111 EURO 179,301 USD	30/06/2041	28,198
Loan to finance the Atrisco project - PV	6 month Sofer	4.0858%	112,383 USD	30/09/2048	(7,217)

Deal Contingent Hedge [Member]

Disclosure of detailed information about financial instruments [line items]

Disclosure of interest rate swap contracts which were designated as hedging instruments

Hedged contract	Interest rates After hedging	Par value Thousands	Repayment date	Carrying value USD in thousands
Loan to finance the Atrisco project - BESS	3.8249%	140,332 USD	30/06/2044	(5,539)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Profit for the year	$ 98,041	$ 38,113	$ 21,675
Income and expenses not associated with cash flows:
Depreciation and amortization	65,796	42,267	20,500
Finance expenses (income), net	28,805	24,590	5,809
Share-based compensation	4,970	8,673	3,980
Taxes on income	28,428	12,943	5,694
Other (income) expenses, net	(52,429)	31	449
Company’s share in losses of investee partnerships	330	306	189
Total income and expenses not associated with cash flows	75,900	88,810	36,621
Changes in assets and liabilities items:
Change in other receivables	(3,241)	(4,930)	340
Change in trade receivables	(2,841)	(23,355)	(6,944)
Change in other payables	6,382	5,738	(7,046)
Change in trade payables	15,474	784	1,175
Total changes in assets and liabilities items	15,774	(21,763)	(12,475)
Interest receipts	12,490	4,461	1,223
Interest paid	(54,469)	(33,123)	(24,381)
Income Tax paid	(12,236)	(3,700)	(3,497)
Repayment of contract assets	14,120	17,578	32,857
Net cash flows from operating activities	149,620	90,376	52,023
Cash flows from investing activities
Acquisition (sale) of consolidated companies, net (Annex A)	(6,975)	(56,962)	(156,496)
Changes in restricted cash and bank deposits, net	(53,131)	(86,055)	47,999
Purchase, development and construction in respect of projects	(730,976)	(656,143)	(492,756)
Proceeds from sale (purchase) of short term financial assets measured at fair value through profit or loss, net	32,601	(1,881)	(4,218)
Payments on account of acquisition of consolidated Company	(5,728)	(3,988)	(1,183)
Loans provided and investment in investees	(28,174)	(4,147)	(11,982)
Loans to non-controlling interests	0	0	(6,496)
Purchase of long term financial assets measured at fair value through profit or loss	(5,682)	(10,824)	(19,506)
Net cash used in investing activities	(798,065)	(820,000)	(644,638)
Cash flows from financing activities
Receipt of loans from banks and other financial institutions	623,927	541,024	632,943
Repayment of loans from banks and other financial institutions	(203,499)	(109,130)	(301,837)
Issuance of debentures	83,038	0	107,317
Issuance of convertible debentures	0	47,755	106,817
Repayment of debentures	(14,735)	(16,571)	(17,348)
Dividends and distributions by subsidiaries to non-controlling interest	(13,328)	(2,927)	(1,918)
Proceeds from settlement of derivatives	0	7,820	0
Proceeds from investments by tax-equity investors	198,758	0	0
Repayment of tax equity investment	(82,721)	0	0
Deferred borrowing costs	(1,984)	(4,957)	(9,951)
Receipt of loans from non-controlling interests	274	18,136	20,236
Repayment of loans from non-controlling interests	(1,485)	(2,302)	(9,706)
Consideration from sale of holding in consolidated entity, without loss of control	0	4,160	0
Prepayments on account of issuance of shares	0	(1,750)	0
Issuance of shares	266,451	206,625	175,079
Exercise of share options	9	8	25
Repayment of lease liability	(4,848)	(4,327)	(6,344)
Proceeds from investment in entities by non-controlling interest	5,448	1,177	57,001
Net cash from financing activities	855,305	684,741	752,314
Increase (decrease) in cash and cash equivalents	206,860	(44,883)	159,699
Balance of cash and cash equivalents at beginning of year	193,869	265,933	99,330
Effect of exchange rate fluctuations on cash and cash equivalents	3,076	(27,181)	6,904
Cash and cash equivalents at end of year	$ 403,805	$ 193,869	$ 265,933

Guarantees, Engagements and Charges (Narrative) (Details 1) ₪ in Millions, $ in Millions		1 Months Ended		12 Months Ended
	Jan. 02, 2022	Aug. 30, 2023	Sep. 22, 2021	Dec. 31, 2023 ILS (₪)	Dec. 31, 2023 USD ($)
Guarantees contingent liabilities engagements and charges [Line Items]
Capacity Of Battery Based Electricity Storage Systems	23MW
Co Bar Solar Pv Project In United States [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Agreement Period			20 years
Capacity Of Battery Based Electricity Storage Systems		824 MWh	1 gigawatt (GW)
Solar Project Capacity Under Evaluation		258 MW
Cumulative Capacity In Ac Terms			800 MW
Cumulative Capacity In Dc Terms			1,000 MW
Photovoltaic Projects Sold [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Proceeds From Disposal Of Photovoltaic Projects					$ 17.9
Number Of Photovoltaic Projects Sold				three	three
Two Photovoltaic Projects In Israel [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Proceeds From Disposal Of Photovoltaic Projects				₪ 20.9	$ 5.6
Photovoltaic Projects In Dorot Israel [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Expected Production Of Electricity Using Photovoltaic Technology				14MW	14MW
Photovoltaic Projects In Talmei Yafe Israel [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Expected Production Of Electricity Using Photovoltaic Technology				11MW	11MW
Photovoltaic Projects In United Stated [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Proceeds From Disposal Of Photovoltaic Projects					$ 12.3
Expected Production Of Electricity Using Photovoltaic Technology				60MW	60MW
Roadrunner Project In USA [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Bank Guarantee					$ 17.6
Quail Ranch Project [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Bank Guarantee					$ 8.0

Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
Revenues (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue [abstract]
Sale of electricity	$ 242,808	$ 173,992	$ 83,034
Operation of facilities	4,634	7,066	11,275
Construction services	419	476	3,460
Management or development fees	7,841	10,638	4,692
Revenue	$ 255,702	$ 192,172	$ 102,461

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 28
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2023-03-23

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 23
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2023-03-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 32
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_32&doctype=Standard
-URIDate 2023-03-23

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2023-01-01
-Paragraph 33
-Subparagraph b
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2023-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2023-03-23

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 33
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2023-03-23

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 34
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_34&doctype=Standard
-URIDate 2023-03-23

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 82
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2023-03-23

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 103
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_103&doctype=Standard
-URIDate 2023-03-23

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 102
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_102&doctype=Standard
-URIDate 2023-03-23

+ Details

Contract Assets in respect of Concession Arrangements for the Construction and Operation of Photovoltaic Systems (Tables)

12 Months Ended

Dec. 31, 2023

Contract Assets In Respect Of Concession Arrangements For Construction And Operation Of Photovoltaic Systems [Abstract]

Disclosure of information about contract assets

Project	Total capacity in MW		Stake in the project			Tariff approval for the facility (NIS 0.01 per kWh)		Rate of return on the contract asset	Contract asset as of December 31, 2023 (USD in thousands)		Expiry date of the contract
Peirot HaGolan		1.5		51	%		53.99	5.75% linked		2,704	30/06/2035
Sde Nehemia		0.63		100	%		53.99	5.75% linked		870	31/03/2035
Barbur		0.5		51	%		53.99	5.75% linked		680	31/03/2035
Talmei Bilu		10		100	%		102.46	6.5% linked		34,062	30/09/2033
Mivtachim		10		100	%		130.39	8% linked		40,411	30/09/2033
Kramim		5		100	%		96.31	6% linked		13,170	31/12/2033
Idan		3		100	%		96.31	6% linked		7,519	30/09/2033
Balance as of December 31, 2023										99,416

Disclosure of information about reclassification of contract assets in respect of concession arrangements

	2023			2022
	USD in thousands
Balance as of January 1		106,774			287,042
Repayment of contract asset under concession arrangements		(14,120	)		(17,579	)
Finance incomes		9,643			17,188
Reclassification from IFRIC 12 to a fixed asset (*)		-			(162,359	)
Translation differences		(2,881	)		(17,518	)
Balance as of December 31		99,416			106,774

Intangible Assets (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill [member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Goodwill	$ 148,128	$ 148,128

Financial Instruments (Details 7) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Current financial assets at fair value through profit or loss	$ 0	$ 33,895
Current Assets Contracts In Respect Of Forward Transactions	171	1,493
Non Current Assets Interest Rate Swaps	63,208	89,143
Current Non Marketable Shares At Fair Value Through Profit Or Loss	53,466	42,918
Current Transactions To Peg Electricity Prices Swap Contract For Difference	(11,384)	(50,255)
Performance-based contingent consideration (“Earn Out”), see Note 7A(1)	(22,941)	(52,972)
Non Current Liabilities Interest Rate Swaps	(7,217)
Deal Contingent Hedge	(5,539)
Level 1 of fair value hierarchy [member]
Disclosure of detailed information about financial instruments [line items]
Current financial assets at fair value through profit or loss		33,895
Current Assets Contracts In Respect Of Forward Transactions	0	0
Non Current Assets Interest Rate Swaps	0	0
Current Non Marketable Shares At Fair Value Through Profit Or Loss	0	0
Current Transactions To Peg Electricity Prices Swap Contract For Difference	0	0
Performance-based contingent consideration (“Earn Out”), see Note 7A(1)	0	0
Non Current Liabilities Interest Rate Swaps	0
Deal Contingent Hedge	0
Level 2 of fair value hierarchy [member]
Disclosure of detailed information about financial instruments [line items]
Current financial assets at fair value through profit or loss		0
Current Assets Contracts In Respect Of Forward Transactions	171	1,493
Non Current Assets Interest Rate Swaps	63,208	89,143
Current Non Marketable Shares At Fair Value Through Profit Or Loss	0	0
Current Transactions To Peg Electricity Prices Swap Contract For Difference	(11,384)	(50,255)
Performance-based contingent consideration (“Earn Out”), see Note 7A(1)	0	0
Non Current Liabilities Interest Rate Swaps	(7,217)
Deal Contingent Hedge	(5,539)
Level 3 of fair value hierarchy [member]
Disclosure of detailed information about financial instruments [line items]
Current financial assets at fair value through profit or loss		0
Current Assets Contracts In Respect Of Forward Transactions	0	0
Non Current Assets Interest Rate Swaps	0	0
Current Non Marketable Shares At Fair Value Through Profit Or Loss	53,466	42,918
Current Transactions To Peg Electricity Prices Swap Contract For Difference	0	0
Performance-based contingent consideration (“Earn Out”), see Note 7A(1)	(22,941)	$ (52,972)
Non Current Liabilities Interest Rate Swaps	0
Deal Contingent Hedge	$ 0

Development Expenses (Tables)

12 Months Ended

Dec. 31, 2023

Development Expenses [Abstract]

Disclosure of detailed information about development Expenses

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands
Payroll, salaries and associated expenses		3,565		2,558		2,570
Other development expenses		2,782		3,029		2,146

Total		6,347		5,587		4,716

Fixed Assets (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Fixed Assets (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property, plant and equipment [abstract]
Capitalization of borrowing costs	$ 28	$ 39

Revenues (Tables)

12 Months Ended

Dec. 31, 2023

Revenue [abstract]

Disclosure of detailed information about revenue

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands
Sale of electricity		242,808		173,992		83,034
Operation of facilities		4,634		7,066		11,275
Construction services		419		476		3,460
Management or development fees		7,841		10,638		4,692

Total		255,702		192,172		102,461

Financial Instruments (Details 6) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Current financial assets at fair value through profit or loss	$ 0	$ 33,895
Current assets	664,645	423,704
Performance-based contingent consideration (“Earn Out”), see Note 8A	22,941	52,972
Debentures	(26,233)	(15,832)
Lease liability	(8,113)	(5,850)
Current liabilities	(583,292)	$ (385,349)
Liquidity risk [member]
Disclosure of detailed information about financial instruments [line items]
Liability in respect of deferred consideration arrangement	(4,271)
Performance-based contingent consideration (“Earn Out”), see Note 8A	(43,944)
Liability in respect of put option	(25,372)
Loans from non-controlling interests	(112,079)
Debentures	(464,250)
Credit and loans from banking corporations and other financial institutions	(2,510,181)
Lease Back Liability	(77,954)
Lease liability	(102,098)
Current liabilities	(3,340,149)
Liquidity risk [member] \| 2024
Disclosure of detailed information about financial instruments [line items]
Liability in respect of deferred consideration arrangement	(417)
Performance-based contingent consideration (“Earn Out”), see Note 8A	(27,564)
Liability in respect of put option	0
Loans from non-controlling interests	(4,492)
Debentures	(36,510)
Credit and loans from banking corporations and other financial institutions	(366,969)
Lease Back Liability	(3,520)
Lease liability	(7,584)
Current liabilities	(447,056)
Liquidity risk [member] \| 2025
Disclosure of detailed information about financial instruments [line items]
Liability in respect of deferred consideration arrangement	(398)
Performance-based contingent consideration (“Earn Out”), see Note 8A	(4,143)
Liability in respect of put option	0
Loans from non-controlling interests	(12,482)
Debentures	(54,135)
Credit and loans from banking corporations and other financial institutions	(173,269)
Lease Back Liability	(3,547)
Lease liability	(7,147)
Current liabilities	(255,121)
Liquidity risk [member] \| 2026
Disclosure of detailed information about financial instruments [line items]
Liability in respect of deferred consideration arrangement	(342)
Performance-based contingent consideration (“Earn Out”), see Note 8A	(12,237)
Liability in respect of put option	0
Loans from non-controlling interests	(13,074)
Debentures	(161,232)
Credit and loans from banking corporations and other financial institutions	(166,445)
Lease Back Liability	(3,555)
Lease liability	(7,018)
Current liabilities	(363,903)
Liquidity risk [member] \| 2027
Disclosure of detailed information about financial instruments [line items]
Liability in respect of deferred consideration arrangement	(342)
Performance-based contingent consideration (“Earn Out”), see Note 8A	0
Liability in respect of put option	0
Loans from non-controlling interests	(11,709)
Debentures	(55,563)
Credit and loans from banking corporations and other financial institutions	(209,582)
Lease Back Liability	(3,610)
Lease liability	(6,969)
Current liabilities	(287,775)
Liquidity risk [member] \| 2028
Disclosure of detailed information about financial instruments [line items]
Liability in respect of deferred consideration arrangement	(342)
Performance-based contingent consideration (“Earn Out”), see Note 8A	0
Liability in respect of put option	0
Loans from non-controlling interests	(12,460)
Debentures	(102,804)
Credit and loans from banking corporations and other financial institutions	(214,636)
Lease Back Liability	(3,570)
Lease liability	(6,868)
Current liabilities	(340,680)
Liquidity risk [member] \| After 2028
Disclosure of detailed information about financial instruments [line items]
Liability in respect of deferred consideration arrangement	(2,430)
Performance-based contingent consideration (“Earn Out”), see Note 8A	0
Liability in respect of put option	(25,372)
Loans from non-controlling interests	(57,862)
Debentures	(54,006)
Credit and loans from banking corporations and other financial institutions	(1,379,280)
Lease Back Liability	(60,152)
Lease liability	(66,512)
Current liabilities	$ (1,645,614)

New Financial Reporting Standards, Published Interpretations, and Amendments to Standards

12 Months Ended

Dec. 31, 2023

Disclosure of expected impact of initial application of new standards or interpretations [abstract]

New Financial Reporting Standards, Published Interpretations, and Amendments to Standards

Note 3 - New Financial Reporting Standards, Published Interpretations, and Amendments to Standards

a) Initial application of new standards, amendments to standards and interpretations

Standard / interpretation / amendment		Publication requirements	Application and transitional provisions	Expected impact
(1)	Amendment to IAS 1, Presentation of Financial Statements: “Disclosure of Accounting Policies.”	According to the amendment companies must provide disclosure of their material accounting policies rather than their significant accounting policies. Pursuant to the amendment, accounting policy information is material if, when considered with other information disclosed in the financial statements, it can be reasonably be expected to influence decisions that the users of the financial statements make on the basis of those financial statements. The amendment to IAS 1 also clarifies that accounting policy information is expected to be material if, without it, the users of the financial statements would be unable to understand other material information in the financial statements. The amendment also clarifies that immaterial accounting policy information need not be disclosed.	The amendment is initially applied in the annual financial statements for 2023.	As a result of applying the Amendment, the extent of the accounting policy disclosure provided in the financial statements for 2023 was reduced and adjusted according to the Company’s specific circumstances.

(2)	Amendment to IAS 12 Income taxes: Deferred tax associated with assets and liabilities arising from a single transaction	The Amendment narrows the scope of the exemption from recognizing deferred taxes as a result of temporary differences created at the initial recognition of assets and/or liabilities, so that it does not apply to transactions that give rise to equal and offsetting temporary differences. As a result, companies will need to recognize a deferred tax asset or a deferred tax liability for these temporary differences at the initial recognition of transactions that give rise to equal and offsetting temporary differences, such as lease transactions and provisions for decommissioning and restoration.	The Amendment is effective for annual periods beginning on or after January 1, 2023. For deferred taxes arising from leases and decommissioning and restoration liabilities, the Amendment is applied by amending the opening balance of retained earnings for the earliest comparative data presented.	Application of the Amendment did not have a material effect on the financial statements.

Standard / interpretation / amendment		Publication requirements	Application and transitional provisions	Expected impact

(3)	Amendment to IAS 1, Presentation of Financial Statements: Classification of Liabilities as Current or Non-Current and subsequent amendment: Non-Current Liabilities with Covenants	The Amendment, together with the subsequent amendment to IAS 1 replaces certain requirements for classifying liabilities as current or non-current. According to the Amendment, a liability will be classified as non-current when the entity has the right to defer settlement for at least 12 months after the reporting period, and it “has substance” and is in existence at the end of the reporting period. According to the subsequent amendment, as published in October 2022, covenants with which the entity must comply after the reporting date, do not affect classification of the liability as current or non-current. Additionally, the subsequent amendment adds disclosure requirements for liabilities subject to covenants within 12 months after the reporting date, such as disclosure regarding the nature of the covenants, the date they need to be complied with and facts and circumstances that indicate the entity may have difficulty complying with the covenants. Furthermore, the Amendment clarifies that the conversion option of a liability will affect its classification as current or non-current, other than when the conversion option is recognized as equity.	The Amendment and subsequent amendment are effective for reporting periods beginning on or after January 1, 2024 with earlier application being permitted. The Amendment and subsequent amendment are applicable retrospectively, including an amendment to comparative data.	The Group is examining the effects of the Amendment on the financial statements.

Guarantees, Engagements and Charges (Narrative) (Details 2)					1 Months Ended
	Jan. 06, 2024	Jun. 12, 2023	Jan. 02, 2022	Jul. 14, 2020	Dec. 29, 2020	Dec. 31, 2023 $ / shares	Sep. 30, 2023	Feb. 28, 2023 ₪ / shares shares	Feb. 28, 2023 $ / shares shares	Aug. 16, 2022 ₪ / shares	Mar. 06, 2022 ₪ / shares
Guarantees contingent liabilities engagements and charges [Line Items]
Number of shares issued								2,042,935	2,042,935
Par value per share \| (per share)						$ 0.1		₪ 18		₪ 0.1	₪ 0.1
Storage One [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Amortization Period			20 years
Mini-perm Term			6 years
Cumulative Capacity In Ac Terms				248MW
Storage Tender Two [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Cumulative Capacity In Ac Terms					474MWh
Bottom of range [member] \| Storage One [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Borrowings, interest rate							2.40%
Top of range [member] \| Storage One [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Borrowings, interest rate							2.90%
Initial Public Offering [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Number of shares issued								14,000,000	14,000,000
Par value per share \| $ / shares									$ 18
Ruach Beresheet L P [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Number of wind turbines commercially operational		34
Number of wind turbines		39
Aggregate capacity		180MW
Ruach Beresheet L P [Member] \| Ruach Beresheet Wind Turbine Remaining To Start Commercial Operations [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Number of wind turbines commercially operational	3
Number of wind turbines	5
Aggregate capacity	207 MW
Number of wind turbines expected to be commercially operational	2

Financial Instruments

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about financial instruments [abstract]

Financial instruments

Note 26 - Financial Instruments

Financial risk management policy

The Group’s overall risk management policy focuses on activities to minimize possible negative effects on the Group’s financial performance. The Group uses derivative financial instruments to hedge against certain risk exposures.

The individual responsible for the management of market risks in the Company is the Company’s CFO, who reports to the board of directors and to the financial statements review committee from time to time regarding his activities, in order to reduce the Company’s market risks, and the impact thereof on its operating results.-

The Company’s policy is to reduce the various risks to the extent feasible. The Company directs risk management towards economic exposure only if there is a discrepancy between that exposure and the accounting exposure.

The CFO also reports to the required organs in the Company on an ongoing basis regarding the status of the Company’s liquid balances and the balances of its liabilities, and regarding the composition thereof.

The Company’s activities expose it to various financial risks, as follows:

(1)

Changes in foreign currency exchange rates

Some of the Company’s costs involved in project construction, finance costs, transactions and revenues are denominated in foreign currency, and the Company is therefore exposed to changes in those exchange rates, which affect the feasibility and profitability of the projects. The Company evaluates and makes use, from time to time, of derivative financial instruments, mostly forward transactions and currency options (hedging transactions”), to hedge its economic exposure to changes in foreign currency exchange rates. All of derivative financial instrument below is treated under accounting hedging.

Amount
receivable in
transaction
currency

Amount
payable in
transaction
currency

Fair value

Project

Millions

Expiration date

USD millions

Foreign currency forward contracts (1)

Ruach Beresheet

EUR 11.8

NIS 47.3

January 2024

0.04

Foreign currency forward contracts (1)

Storage 2

USD 34.2

NIS 123.6

January 2024

0.13

(1)

Hedging transaction to hedge against the EUR/NIS exchange rate and the USD/NIS exchange rate, based on the schedule of payments to the main contractors of the projects.

Presented below is a sensitivity analysis which includes current balances of monetary items denominated in foreign currency, and which adjusts the translation thereof at the end of the period, to changes in the foreign currency exchange rate. The sensitivity analysis also includes loans to foreign operations in the Group which are denominated in a currency other than the currency of the lender or the borrower, which do not constitute a part of the net investment in the foreign operation (hereinafter: “loans to foreign operation”). The Company is also exposed to the equity in respect of its share in consolidated companies with a different functional currency from the Company’s functional currency (hereinafter: the “equity of foreign operation”). This exposure is carried to other comprehensive income (hereinafter: “OCI”).

	As of December 31, 2023
	Increase 5%								Decrease 5%
	OCI			Pre-tax profit			Value		Pre-tax profit		OCI
5% Change in the currency exchange rate	USD in thousands

ILS vs EURO
Loans to foreign operations		-			(803	)		16,052		803		-

Equity of foreign operations
ILS vs EURO		(43,583	)		-			871,663		-		43,583
ILS vs HUF		(367	)		-			7,345		-		367
Total effect OCI		(43,950	)		-			879,008		-		43,950

	As of December 31, 2022
	Increase 5%									Decrease 5%
	OCI			Pre-tax profit			Value			Pre-tax profit			OCI
5% Change in the currency exchange rate	USD in thousands

ILS vs EURO
Loans to foreign operations		-			(844	)		16,874			844			-

EURO vs HRK
Restricted cash		-			84			1,673			(84	)		-
Loans to foreign operations		-			174			3,489			(174	)		-
Loans from banks		-			(1,399	)		(27,974	)		1,399			-
Total effect on pre-tax profit		-			(1,985	)		(5,938	)		1,985			-

Equity of foreign operations
ILS vs EURO		(34,695	)		-			693,904			-			34,695
ILS vs HUF		(551	)		-			11,015			-			551
ILS vs HRK		(613	)		-			12,258			-			613
Total effect on OCI		(35,859	)		-			717,177			-			35,859

(2)

Change in index

Consolidated entities in Israel have revenues from electricity which are determined according to a tariff which is updated once per year in accordance with the consumer price index. On the other hand, loans taken out by consolidated entities were made, as much as possible, with the same linkage as the linkage to the electricity tariff. The Company also extended loans to investee entities and liability in respect of deferred consideration arrangement, which are linked to the consumer price index.

The following table presents the group's sensitivity to the index – the effect of a 3% change in the index:

	As of December 31, 2023
	Increase 3%						Decrease 3%
	Pre-tax profit			Carrying value			Pre-tax profit
3% Change in the index rate	USD in thousands

Contract assets		2,982			99,416			(2,982	)
Loans to investee entities		188			6,264			(188	)
Loans to non-controlling interests		158			5,267			(158	)
Loans from banks and other financial institutions		(24,965	)		(816,087	)		23,972
Other financial liabilities		(78	)		(2,591	)		78

		(10,814	)		(707,731	)		10,814

	As of December 31, 2022
	Increase 3%						Decrease 3%
	Pre-tax profit			Carrying value			Pre-tax profit
3% Change in the index rate	USD in thousands

Financial assets measured at fair value through profit or loss		389			12,974			(389	)
Contract assets		3,203			106,773			(3,203	)
Loans to investee entities		199			6,622			(199	)
Loans to non-controlling interests		170			5,680			(170	)
Loans from banks and other financial institutions		(15,602	)		(791,379	)		15,523
Other financial liabilities		(80	)		(2,751	)		80

		(11,721	)		(662,081	)		11,642

Financial risk factors

(1)

Presented below is an analysis of financial instruments by linkage bases and currency types

	As of December 31, 2023
	Linked to the EUR			Linked to the USD			Linked to the HUF			Linked to the CPI			Unlinked			Total
	USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands

Current assets:
Cash and cash equivalents		82,577			136,633			1,858			-			182,737			403,805
Deposits in banks		5,308			-			-			-			-			5,308
Restricted cash		78,543			16,270			-			-			47,882			142,695
Trade receivables		29,556			340			520			-			12,684			43,100
Other receivables		11,676			-			-			432			4,263			16,371
Other financial assets		-			805			-			-			171			976

		207,660			154,048			2,378			432			247,737			612,255
Non-current assets:
Restricted cash		22,913			-			4,007			-			11,971			38,891
Long term receivables		30,534			-			-			-			6			30,540
Financial assets measured at fair value through profit or loss		53,466			-			-			-			-			53,466
Loans to equity-accounted entities		3,036			-			-			6,264			26,578			35,878
Other financial assets		70,398			-			4,193			4,835			-			79,426

		180,347			-			8,200			11,099			38,555			238,201
Current liabilities:
Credit and current maturities in respect of loans from banks and other financial institutions		(63,819	)		(212,202	)		(1,759	)		(46,886	)		-			(324,666	)
Trade payables		(9,663	)		(94,445	)		(20	)		-			(1,446	)		(105,574	)
Other payables		(20,796	)		(15,503	)		(1,894	)		(1,571	)		(49,264	)		(89,028	)
Current maturities in respect of Debentures		-			-			-			-			(26,233	)		(26,233	)
Current maturities of lease liability		(1,751	)		-			(102	)		(6,221	)		(39	)		(8,113	)
Financial liabilities measured at fair value through profit or loss		-			(13,860	)		-			-			-			(13,860	)
Other financial liabilities		-			(1,224	)		-			-			-			(1,224	)

		(96,029	)		(337,234	)		(3,775	)		(54,678	)		(76,982	)		(568,698	)

Non-current liabilities:
Debentures		-			-			-			-			(293,751	)		(293,751	)
Convertible Debentures		-			-			-			-			(130,566	)		(130,566	)
Loans from banks and other financial institutions		(645,265	)		(116,151	)		(32,229	)		(767,810	)		(141,470	)		(1,702,925	)
Loans from non-controlling interests		(80,006	)		-			-			-			(12,744	)		(92,750	)
Lease liability		(35,464	)		-			(1,395	)		(82,306	)		(319	)		(119,484	)
Employee benefits		-			(4,784	)		-			-			-			(4,784	)
Financial liabilities through profit or loss		-			(32,113	)		-			(2,411	)		-			(34,524	)
Other financial liabilities		-			(62,020	)		-			-			-			(62,020	)

		(760,735	)		(215,068	)		(33,624	)		(852,527	)		(578,850	)		(2,440,804	)

Total assets (liabilities), net		(468,947	)		(398,254	)		(26,821	)		(895,674	)		(369,540	)		(2,159,236	)

	As of December 31, 2022
	Linked to the EUR			Linked to the USD			Linked to the HRK*			Linked to the HUF			Linked to the CPI			Unlinked			Total
	USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands

Current assets:
Cash and cash equivalents		56,327			1,582			49,535			2,752			-			83,673			193,869
Deposits in banks		4,054			-			-			-			-			-			4,054
Restricted cash		16,551			-			3,732			558			-			71,262			92,103
Financial assets measured at fair value through profit or loss		-			366			-			-			12,974			20,555			33,895
Trade receivables		29,074			785			601			325			-			9,037			39,822
Other receivables		880			-			-			-			427			4,872			6,179
Current maturities of loans to investee entities		-			-			-			-			432			-			13,893
Other financial assets		-			-			-			-			-			1,493			1,493

		106,886			2,733			53,868			3,635			13,401			204,785			385,308

Non-current assets:
Restricted cash		20,140			-			1,281			3,782			-			13,525			38,728
Long term receivables		4,765			-			-			-			-			2			4,767
Financial assets measured at fair value through profit or loss		42,918			-			-			-			-			-			42,918
Loans to equity-accounted entities		3,429			-			-			-			6,622			4,133			14,184
Other financial assets		78,811			-			-			10,332			5,253			-			94,396

		150,063			-			1,281			14,114			11,875			17,660			194,993
Current liabilities:
Credit and current maturities in respect of loans from banks and other financial institutions		(54,071	)		(75,576	)		(1,585	)		(1,535	)		(32,860	)		-			(165,627	)
Trade payables		(13,532	)		(15,495	)		-			(68	)		-			(5,543	)		(34,638	)
Other payables		(20,920	)		(15,567	)		(1,242	)		(240	)		(1,143	)		(28,925	)		(68,037	)
Current maturities in respect of Debentures		-			-			-			-			-			(15,832	)		(15,832	)
Current maturities of lease liability		(1,528	)		-			-			(80	)		(4,202	)		(40	)		(5,850	)
Financial liabilities measured at fair value through profit or loss		-			(35,283	)		-			-			-			-			(35,283	)
other financial liabilities		(50,255	)		-			-			-			-			-			(50,255	)

		(140,306	)		(141,921	)		(2,827	)		(1,923	)		(38,205	)		(50,340	)		(375,522	)

Non-current liabilities:
Debentures		-			-			-			-			-			(238,520	)		(238,520	)
Convertible Debentures		-			-			-			-			-			(131,385	)		(131,385	)
Loans from banks and other financial institutions		(572,166	)		(42,797	)		(14,358	)		(32,193	)		(757,543	)		-			(1,419,057	)
Loans from non-controlling interests		(76,787	)		-			-			-			-			(14,121	)		(90,908	)
Lease liability		(33,769	)		-			-			(1,134	)		(58,535	)		(335	)		(93,773	)
Employee benefits		-			(12,238	)		-			-			-			-			(12,238	)
Financial liabilities through profit or loss		-			(45,484	)		-			-			(2,584	)		-			(48,068	)

		(682,722	)		(100,519	)		(14,358	)		(33,327	)		(818,662	)		(384,361	)		(2,033,949	)

Total assets (liabilities), net		(566,079	)		(239,707	)		37,964			(17,501	)		(831,591	)		(212,256	)		(1,829,170	)

*On December 31, 2022 the EURO currency replaces the HRK

(2)

Interest rate risk

Change in interest rates

Interest rate risk is due to loans bearing variable interest rates, which expose the Company to cash flow risk.

The following table presents the group's values of financial instruments which are exposed to cash flow risks in respect of interest rate changes which are not hedged in interest rate swap transactions and their sensitivity to the change of interest rate – the effect of a 2% change in the interest rate:

	As of December 31, 2023
	Increase 2%			Carrying			Decrease 2%
	Pre-tax profit			value			Pre-tax profit
2% Change in the interest rate	USD in thousands

Euribor-linked loan from banks		(1,805	)		(90,259	)		1,805
SOFR-linked credit from banks (1)		-			(116,151	)		-

		(1,805	)		(206,410	)		1,805

	As of December 31, 2022
	Increase 2%			Carrying			Decrease 2%
	Pre-tax profit			value			Pre-tax profit
2% Change in the interest rate	USD in thousands

Euribor-linked loan from banks		(895	)		(44,764	)		895
SOFR-linked credit from banks (1)		-			(118,373	)		-

		(895	)		(163,137	)		895

(1)

Interest rate swaps:

Through interest rate swaps, the Group engages in contracts to swap the differences between the amounts of fixed and variable interest rates, which are calculated in respect of agreed-upon stated principal amounts. These contracts allow the Group to reduce the cash flow exposure of debt issued at variable interest. The fair value of the interest rate swaps at the end of the reporting period is determined by discounting the future cash flows using the yield curves at the end of the reporting period, and the credit risk in the contract.

All interest rate swaps which replace variable interest rates with fixed interest rates are intended to hedge cash flows in order to reduce the Group’s exposure to cash flows from variable interest rates on loans.

The following table specifies the interest rate swap contracts which were designated as hedging instruments, which exist as of the end of the reporting period:

	Interest rates		Par value	Repayment date	Carrying value
Hedged contract	Original	After hedging	Thousands	Final	USD in thousands
Loan to finance the Lukovac project	3 month Euribor	0.75%	18,153 EURO 20,078 USD	31/03/2031	1,218
Loan to finance the Picasso project	3 month Euribor	1.08%	71,205 EURO 78,755 USD	31/03/2039	5,425
Loan to finance the Gecama project	6 month Euribor	0.147%	144,850 EURO 160,210 USD	30/06/2035	24,174
Loan to finance the Attila projects	3 month Bubor	1.445%-3.7%	12,346,053 HUF 35,674 USD	31/12/2030	4,193
Loan to finance the Bjorn project	6 month Euribor	0.526%	162,111 EURO 179,301 USD	30/06/2041	28,198
Loan to finance the Atrisco project - PV	6 month Sofer	4.0858%	112,383 USD	30/09/2048	(7,217)

During the years 2023 and 2022, profit (loss) net of tax in the amount of USD (23,380) thousand and USD 61,853 thousand, respectively, were recognized under other comprehensive income, in respect of the effectiveness of the cash flow hedge as a hedge against the cash flow risk in respect of interest rates.

Deal Contingent Hedge (“DCH”):

The DCH is intended to hedge expected cash flows exposure to changes in the variable interest rate, at which a senior debt is expected to be issued. In other words, it will lock in the forward fixed interest rate associated with future interest payments on the expected issuance of senior debt. The DCH provides protection from interest rate movements between the hedging date and the financial closing date while not retaining any obligation (or rights) under the DCH if the financial closing does not occur up to the long stop date as defined in the agreement.

The following table specifies the Deal Contingent Hedge contracts which were designated as hedging instruments, which exist as of the end of the reporting period:

Hedged contract	Interest rates After hedging	Par value Thousands	Repayment date	Carrying value USD in thousands
Loan to finance the Atrisco project - BESS	3.8249%	140,332 USD	30/06/2044	(5,539)

(3)

Credit risk

Credit risk refers to the risk that the counterparty will not fulfill its contractual obligations, and will cause the Group to incur financial loss. Upon the initial engagement, the Group estimates the quality of the credit which is given to the customer. The restrictions which are attributed to the Group’s customers are evaluated once per year, or more frequently, based on new information which has been received, and on its fulfillment of previous debt payments.

The Group measures the credit loss provision in respect of trade receivables according to the probability of insolvency throughout the instrument’s entire lifetime, and for contract assets in respect of concession arrangements (see Note 8) according to the probability of insolvency during the coming 12 months. In light of the fact that the Company’s customers are large, financially strong entities, mostly with regulatory support, the probability of insolvency is low, and the Company believes that the expected credit losses in respect of them are insignificant.

The Company deposits its balance of liquid financial assets in bank deposits and in securities. All the deposits are with a diversified group of leading banks preferably with banks that provide loans to the Company.

(4)

Liquidity risk

The cash flow forecast is prepared by the Company’s finance department, both on the level of the various entities in the Group, and in consolidated terms. The finance department evaluates current forecasts of liquidity requirements in the Group in order to verify that sufficient cash is available for operating requirements, and while ensuring that the Company does not deviate from the credit facilities and financial covenants in respect of its credit facilities.

The Group’s forecasts take into account several factors, such as financing sources for expected investments and for debt service, which include, inter alia, cash flows from operating activities and from the realization of projects which the Company owns, and raisings of equity and debt which include, inter alia, rights issues, long-term loans and debentures. The Group’s forecasts also take into account the fulfillment of obligatory financial covenants, the fulfillment of certain liquidity ratio targets, and the fulfillment of external requirements such as laws or regulations, when relevant.

The cash surplus which is held by the Group’s entities, which are not required in order to finance the activity as part of working capital, are invested in stable investment channels such as fixed period deposits, and other stable channels. These investment channels are chosen according to the desired repayment period, or according to their liquidity, such that the Group has sufficient cash balances, in accordance with the foregoing forecasts.

Presented below are details regarding the Company’s liabilities segmented by repayment years, except for current items in the statement of financial position, such as trade and other payables, which are expected to be repaid according to their carrying values during the coming year:

	As of December 31, 2023(**)
																After
	2024			2025			2026			2027			2028			2028			Total
	USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands
Liability in respect of deferred consideration arrangement		(417	)		(398	)		(342	)		(342	)		(342	)		(2,430	)		(4,271	)
Performance-based contingent consideration (“Earn Out”), see Note 7A(1)		(27,564	)		(4,143	)		(12,237	)		-			-			-			(43,944	)
Liability in respect of put option		-			-			-			-			-			(25,372	)		(25,372	)
Loans from non-controlling interests		(4,492	)		(12,482	)		(13,074	)		(11,709	)		(12,460	)		(57,862	)		(112,079	)
Debentures^(*)		(36,510	)		(54,135	)		(161,232	)		(55,563	)		(102,804	)		(54,006	)		(464,250	)
Credit and loans from banks and other financial institutions ^(*)		(366,969	)		(173,269	)		(166,445	)		(209,582	)		(214,636	)		(1,379,280	)		(2,510,181	)
lease back liability		(3,520	)		(3,547	)		(3,555	)		(3,610	)		(3,570	)		(60,152	)		(77,954	)
Lease liability		(7,584	)		(7,147	)		(7,018	)		(6,969	)		(6,868	)		(66,512	)		(102,098	)

		(447,056	)		(255,121	)		(363,903	)		(287,775	)		(340,680	)		(1,645,614	)		(3,340,149	)

(*)

The above figures are presented according to their par values on the repayment date, including unaccrued interest, linked to the CPI / exchange rate as of the balance sheet date.

(**)

The Company has commitments in power purchase agreements which are not reflected in the Company’s statement of financial position.

Fair value

(1)

Details of assets and liabilities which are measured in the statement of financial position at fair value:

For the purpose of measuring the fair value of assets or liabilities, the Group classifies them according to a hierarchy which includes the following three levels:

Level 1: Quoted (unadjusted) prices in active markets for identical properties or identical liabilities as those to which the entity has access on the measurement date.

Level 2: Inputs, except for quoted prices which are included in level 1, which are observable in respect of the asset or liability, directly or indirectly.

Level 3: Unobservable inputs in respect of the asset or liability.

The classification of assets or liabilities which are measured at fair value is based on the lowest level at which significant use was made for the purpose of measuring the fair value of the asset or liability, in their entirety.

Presented below are details regarding the Group’s assets and liabilities which are measured in the Company’s statement of financial position at fair value periodically, in accordance with their measurement levels.

Details regarding fair value measurement at Level 3

			Valuation method for
	Financial instrument		determining fair value
	Non-marketable shares measured at fair value through profit or loss		Fair value measured using a valuation method that includes the discounted cash flow method

	Performance-based (“earn out”) contingent consideration		Fair value measured using the discounted cash flow method

The tables hereunder presents the fair value of the financial instruments that are measured at fair value in accordance to the fair value hierarchy:

As of December 31, 2023:

	Level 1		Level 2			Level 3			Total
	USD in thousands		USD in thousands			USD in thousands			USD in thousands
Financial Assets at fair value:
Contracts in respect of forward transactions		-		171		-				171

Interest rate swaps		-		63,208		-				63,208

Non-marketable shares measured at fair value through profit or loss		-		-			53,466			53,466

Transactions to peg electricity prices swap (CFD differences contract)		-		11,384			-			11,384

Financial liabilities at fair value:

Interest rate swaps		-		(7,217	)		-			(7,217	)

Performance-based contingent consideration (“Earn Out”), see Note 7A(1)		-		-			(22,941	)		(22,941	)

Deal contingent hedge		-		(5,539	)		-			(5,539	)

As of December 31, 2022:

	Level 1		Level 2			Level 3			Total
	USD in thousands		USD in thousands			USD in thousands			USD in thousands
Financial Assets at fair value:
Financial assets measured at fair value through profit or loss		33,895	-			-				33,895

Contracts in respect of forward transactions		-		1,493		-				1,493

Interest rate swaps		-		89,143		-				89,143

Non-marketable shares measured at fair value through profit or loss		-		-			42,918			42,918

Financial liabilities at fair value:

Transactions to peg electricity prices swap (CFD differences contract)		-		(50,255	)		-			(50,255	)

Performance-based contingent consideration (“Earn Out”), see Note 7A(1)		-		-			(52,972	)		(52,972	)

The table hereunder presents a reconciliation from the opening balance to the closing balance of financial instruments carried at fair value level 3 of the fair value hierarchy:

	2023		2022
	Financial assets
Non-marketable shares measured at fair value through profit or loss	USD thousands
Balance as of January 1		42,918		28,682
Investment		5,682		10,824
Revaluation (*)		2,940		4,868
Translation differences		1,926		(1,456	)
Balance as of December 31		53,466		42,918

	2023			2022
	Financial liabilities
Performance-based (“earn out”) contingent consideration	USD thousands
Balance as of January 1		(52,972	)		(61,362	)
Revaluation		25,377			6,678	)
Repayment		4,654			1,712
Balance as of December 31		(22,941	)		(52,972	)

(*)

Under financing income and expenses.

(2)

Fair value of items which are not measured at fair value in the statement of financial position:

Except as specified in the following table, the Company believes that the carrying value of items which are not measured at fair value, including loans from non-controlling interests, is approximately identical to their fair value.

		Carrying value				Fair value
		As of December 31				As of December 31
	Fair value level	2023		2022		2023		2022
		USD in thousands		USD in thousands		USD in thousands		USD in thousands
Debentures	Level 1		454,091		388,498		430,889		364,203

Loans from banks and other financial institutions (1)	Level 3		1,305,642		1,200,199		876,561		908,964

Liability in respect of deferred consideration arrangement (1)	Level 3		2,591		2,750		3,019		3,602

	(1)	Fair value is determined according to the present value of future cash flows, discounted by an interest rate which reflects, according to the assessment of management, the change in the credit margin and risk level which occurred during the period.

Other financial assets, Other financial liabilities, Financial assets at fair value through profit or loss and Financial liabilities through profit or loss

	December 31			December 31
	2023			2022
	USD in thousands			USD in thousands
Current assets
Other financial assets
Contracts in respect of forward transactions		171			1,493
Interest rate swaps		805
Non-current assets
Other financial assets
Loans to non-controlling interests		4,834			5,253
Transactions to peg electricity prices swap (CFD differences contract)		11,384			-
Interest rate swaps		63,208			89,143

		80,403			95,889
Current liabilities
Other financial liabilities
Transactions to peg electricity prices swap (CFD differences contract)		-			(50,255	)
Interest rate swaps		(154	)		-
lease back liability		(1,070	)		-
Financial liabilities through profit or loss
Performance-based contingent consideration (“Earn Out”) (1)		(13,860	)		(35,282	)
Liability in respect of deferred consideration arrangement (2)		(180	)		(167	)
Non-current liabilities
Other financial liabilities
Interest rate swaps		(7,868	)		-
Deal contingent hedge		(5,539	)		-
lease back liability		(48,613	)		-
Financial liabilities through profit or loss
Liability in respect of deferred consideration arrangement (2)		(2,411	)		(2,584	)
Performance-based contingent consideration (“Earn Out”) as well as the founder’s put option (1)		(32,113	)		(45,484	)

		(111,808	)		(133,772	)

(1)

For additional details, see Note 7A(1).

(2)

Other income

12 Months Ended

Dec. 31, 2023

Disclosure Of Other Income [Abstract]

Other income

Note 23 - Other income

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands
Changes in contingent consideration		33,684		12,002		-
Production delay compensation		9,542		-		-
Capital gains		9,847		-		-
Tax equity partnerships depreciations		5,440		-		-
Others		221		1,765		778

Total		58,734		13,767		778

Cost of Sales (Details) - USD ($) $ in Thousands	12 Months Ended
Cost of Sales (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cost Of Sales [Abstract]
Site maintenance	$ 35,307	$ 26,845	$ 11,937
Payroll, salaries and associated expenses	6,646	6,408	2,823
Insurance	5,835	3,450	1,391
Municipal taxes	3,526	2,133	2,101
Lease	1,083	851	234
Expenses associated with facility construction services	397	751	3,291
Total	$ 52,794	$ 40,438	$ 21,777

Financial Instruments (Details 1) - Financial risk [member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Total effect OCI	$ 879,008	$ 717,177
ILS vs EURO
Disclosure of detailed information about financial instruments [line items]
Loans to foreign operations	16,052	16,874
Equity of foreign operations	871,663	693,904
EURO vs HRK
Disclosure of detailed information about financial instruments [line items]
Restricted cash		1,673
Loans to foreign operations		3,489
Loans from banks		(27,974)
Total effect on pre-tax profit		(5,938)
ILS vs HUF
Disclosure of detailed information about financial instruments [line items]
Equity of foreign operations	7,345	11,015
ILS vs HRK
Disclosure of detailed information about financial instruments [line items]
Equity of foreign operations		12,258
Increase 5% Effect on OCI
Disclosure of detailed information about financial instruments [line items]
Loans from banks		0
Total effect OCI	(43,950)	(35,859)
Increase 5% Effect on OCI \| ILS vs EURO
Disclosure of detailed information about financial instruments [line items]
Loans to foreign operations	0	0
Equity of foreign operations	(43,583)	(34,695)
Increase 5% Effect on OCI \| EURO vs HRK
Disclosure of detailed information about financial instruments [line items]
Restricted cash		0
Loans to foreign operations		0
Loans from banks		0
Increase 5% Effect on OCI \| ILS vs HUF
Disclosure of detailed information about financial instruments [line items]
Equity of foreign operations	(367)	(551)
Increase 5% Effect on OCI \| ILS vs HRK
Disclosure of detailed information about financial instruments [line items]
Equity of foreign operations		(613)
Increase 5% Effect on Pre-tax profit
Disclosure of detailed information about financial instruments [line items]
Total effect OCI	0	0
Increase 5% Effect on Pre-tax profit \| ILS vs EURO
Disclosure of detailed information about financial instruments [line items]
Loans to foreign operations	(803)	(844)
Equity of foreign operations	0	0
Increase 5% Effect on Pre-tax profit \| EURO vs HRK
Disclosure of detailed information about financial instruments [line items]
Restricted cash		84
Loans to foreign operations		174
Loans from banks		(1,399)
Total effect on pre-tax profit		(1,985)
Increase 5% Effect on Pre-tax profit \| ILS vs HUF
Disclosure of detailed information about financial instruments [line items]
Equity of foreign operations	0	0
Increase 5% Effect on Pre-tax profit \| ILS vs HRK
Disclosure of detailed information about financial instruments [line items]
Equity of foreign operations		0
Decrease 5% Effect on Pre-tax profit
Disclosure of detailed information about financial instruments [line items]
Equity of foreign operations		0
Total effect OCI	0
Decrease 5% Effect on Pre-tax profit \| ILS vs EURO
Disclosure of detailed information about financial instruments [line items]
Loans to foreign operations	803	844
Equity of foreign operations	0	0
Decrease 5% Effect on Pre-tax profit \| EURO vs HRK
Disclosure of detailed information about financial instruments [line items]
Restricted cash		(84)
Loans to foreign operations		(174)
Loans from banks		1,399
Total effect on pre-tax profit		1,985
Decrease 5% Effect on Pre-tax profit \| ILS vs HUF
Disclosure of detailed information about financial instruments [line items]
Equity of foreign operations	0	0
Decrease 5% Effect on Pre-tax profit \| ILS vs HRK
Disclosure of detailed information about financial instruments [line items]
Equity of foreign operations		0
Decrease 5% Effect on OCI
Disclosure of detailed information about financial instruments [line items]
Loans from banks		0
Total effect OCI	43,950	35,859
Decrease 5% Effect on OCI \| ILS vs EURO
Disclosure of detailed information about financial instruments [line items]
Loans to foreign operations	0	0
Equity of foreign operations	43,583	34,695
Decrease 5% Effect on OCI \| EURO vs HRK
Disclosure of detailed information about financial instruments [line items]
Restricted cash		0
Loans to foreign operations		0
Loans from banks		0
Decrease 5% Effect on OCI \| ILS vs HUF
Disclosure of detailed information about financial instruments [line items]
Equity of foreign operations	$ 367	551
Decrease 5% Effect on OCI \| ILS vs HRK
Disclosure of detailed information about financial instruments [line items]
Equity of foreign operations		$ 613

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Intangible assets and goodwill [abstract]

Disclosure of reconciliation of changes in intangible assets and goodwill [text block]

	Electricity supply agreements and concession agreements			Goodwill		Total
	USD in thousands
Cost
Balance as of January 1, 2022		103,524			148,128		251,652
Initial consolidation		41,437			-		41,437
Others		(247	)		-		(247	)
Translation differences		(6,447	)		-		(6,447	)

Balance as of December 31, 2022		138,267			148,128		286,395

Initial consolidation		7,965			-		7,965
Translation differences		3,010			-		3,010

Balance as of December 31, 2023		149,242			148,128		297,370

Amortization:
Balance as of January 1, 2022		4,593			-		4,593
Amortization (1)		2,141			-		2,141
Translation differences		(56	)		-		(56	)

Balance as of December 31, 2022		6,678			-		6,678

Amortization		3,024			-		3,024
Translation differences		(293	)		-		(293	)

Balance as of December 31, 2023		9,409			-		9,409

Depreciated cost as of December 31, 2022		131,589			148,128		279,717
Depreciated cost as of December 31, 2023		139,833			148,128		287,961

(1)

The amortization of the intangible assets is included under Costs of sales in the Consolidated Statements of Income and Other Comprehensive Income.

Disclosure of detailed information about the aggregate carrying amounts of goodwill [text block]

	As of December 31
	2023		2022
	USD thousands		USD thousands
Goodwill		148,128		148,128

Leases

12 Months Ended

Dec. 31, 2023

Presentation of leases for lessee [abstract]

Leases

Note 25 - Leases

Within the framework of the lease agreements, the Group leases the following items:

1. Land;

2. Offices and vehicles.

The Group mostly leases land for the purpose of building renewable energy facilities. The total sum of the right-of-use asset which was recognized in the statement of financial position as of December 31, 2023 in respect of leases amounted to USD 121,348 thousand. The total lease liability which was recognized in the statement of financial position as of December 31, 2023 in respect of land leases amounted to USD 127,595 thousand.

Right-of-use assets

Composition

USD in thousands	Land			Offices and vehicles			Total

Balance as of January 1, 2023		93,547			2,968			96,515
Additions		25,122			998			26,120
Amortization of right-of-use assets		(4,765	)		(884	)		(5,649	)
Linkage to index		4,060			40			4,100
Sale of consolidated companies		(1,354	)		-			(1,354	)
Reserve for translation differences		1,670			(54	)		1,616
Balance as of December 31, 2023		118,280			3,068			121,348

USD in thousands Effects on the statements of income	For the year ended December 31, 2023

Interest expenses in respect of lease liability		(2,503	)
Expenses attributed to variable lease payments which were not included in measurement of lease liability		(1,083	)
Depreciation expenses		(3,819	)

Total		(7,405	)

Fixed Assets

12 Months Ended

Dec. 31, 2023

Property, plant and equipment [abstract]

Fixed Assets

Note 9 - Fixed Assets

Composition and changes:

	2023
	PV + Storage (A)			Wind farms (B)		Others			Total
	USD in thousands
Cost:
As of January 1, 2023		529,426			1,760,859		5,639			2,295,924
Capitalization – IFRS 16		1,632			2,790		-			4,422
Additions (1)		692,754			79,466		2,575			774,795
Sale of consolidated companies (2)		(21,828	)		-		-			(21,828	)
Translation differences		(22,590	)		51,393		(100	)		28,703
Cost as of December 31, 2023		1,179,394			1,894,508		8,114			3,082,016

Accumulated depreciation:
As of January 1, 2023		17,079			56,089		2,022			75,190
Depreciation expenses		11,839			46,058		938			58,835
Sale of consolidated companies (2)		(3,098	)		-		-			(3,098	)
Translation differences		(230	)		4,032		(82	)		3,720
Accumulated depreciation as of December 31, 2023		25,590			106,179		2,878			134,647

Carrying value as of December 31, 2023		1,153,804			1,788,329		5,236			2,947,369

	2022
	PV + Storage (A)			Wind farms (B)			Others			Total
	USD in thousands
Cost:
As of January 1, 2022		122,565			1,403,984			3,908			1,530,457
Capitalization – IFRS 16		-			4,053			-			4,053
Additions (1)		280,518			460,722			2,190			743,430
Reclassification from IFRIC 12		162,359			-			-			162,359
Initial consolidation		1,432			-			-			1,432
Translation differences		(37,448	)		(107,900	)		(459	)		(145,807	)
Cost as of December 31, 2022		529,426			1,760,859			5,639			2,295,924

Accumulated depreciation:
As of January 1, 2022		10,726			29,498			1,404			41,628
Depreciation expenses		7,678			28,445			761			36,884
Translation differences		(1,325	)		(1,854	)		(143	)		(3,322	)
Accumulated depreciation as of December 31, 2022		17,079			56,089			2,022			75,190

Carrying value as of December 31, 2022		512,347			1,704,770			3,617			2,220,734

(1)

(2)

During 2023 the Company sold two consolidated entities “Dorot” and “Talmei Yafe”. For additional information see Note 29A (22).

(A)

PV + Storage

Presented below is a review of the material projects which are included under PV and Storage facilities as of the reporting date:

Electricity production projects	PV Projects in Israel	PV Projects in Hungary(*)	APEX	Atrisco(*)
Country	Israel	Hungary	United States	United States
Year of commercial operation (if applicable)	2012-2023	2019-2023	2023	-
Installed capacity	281.1 MWp+519.2 MWh storage	143 MWp	105 MWp	364 MWp+1200Mwh
Effective holding rate	50.1%-100%	50.1%-100%	90.1%	90.1%
Depreciated cost as of December 31, 2023	USD 436 million	USD 85 million	USD 140 million	USD 497 million

(*) Projects under construction or include projects under construction

(B)

Wind farms

Presented below is a review of the material projects which are included under wind farms as of the reporting date:

Electricity production projects	EWK	Lukovac	SOWI	Picasso	Björnberget
Country	Serbia	Croatia	Kosovo	Sweden	Sweden
Year of commercial operation	2019	2018	2021	2021	2023
Installed capacity	105 MWp	49 MWp	105 MWp	113 MWp	372 MWp
Effective holding rate	50.1%	50.1%	60%	68.8%	55.18%
Depreciated cost as of December 31, 2023	USD 143 million	USD 50 million	USD 136 million	USD 141 million	USD 390 million

Electricity production projects	Emek HaBacha	Ruach Beresheet	Gecama
Country	Israel	Israel	Spain
Year of commercial operation	2022	2023	2022
Installed capacity	109 MWp	189 MWp	329 MWp
Effective holding rate	40.85%	54%	72%
Depreciated cost as of December 31, 2023	USD 192 million	USD 377 million	USD 340 million

Other income (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Other Income [Abstract]

Disclosure of detailed information about other income

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands
Changes in contingent consideration		33,684		12,002		-
Production delay compensation		9,542		-		-
Capital gains		9,847		-		-
Tax equity partnerships depreciations		5,440		-		-
Others		221		1,765		778

Total		58,734		13,767		778

Consolidated Statements of Changes in Equity - USD ($)
$ in Thousands

Share capital

Share premium

Proceeds on account of convertible options

Controlling shareholders

Transactions with non-controlling interests

Transactions Share-based payment

Hedge Reserve

Translation reserve from foreign operation

Translation reserve from currency Presentation

Accumulated loss

Total attributable to the owners of the company

Non-controlling interests

Total

Balance at Dec. 31, 2020

$ 2,239

$ 380,529

$ 0

$ 5,378

^[1]

$ (19,432)

^[1]

$ 13,615

^[1]

$ (8,325)

^[1]

$ (2,350)

^[1]

$ 37,080

^[1]

$ (43,180)

$ 365,554

$ 146,852

$ 512,406

Fair value changes of financial instruments used for cash flow hedging , net of tax

^[1]

^[1],[2]

^[1]

11,217

10,458

21,675

Other comprehensive income (loss):

^[1]

(6,223)

^[1]

(6,223)

(2,945)

(9,168)

Exchange differences due to translation of foreign operations

^[1]

(52,610)

^[1]

(52,610)

(14,695)

(67,305)

Other comprehensive income item that will not be transfer to profit or loss:

Total other comprehensive income (loss) for the year

^[1]

21,868

^[1]

21,868

7,642

29,510

^[1]

^[1],[3]

^[1]

(6,223)

^[1]

(52,610)

^[1]

21,868

^[1]

(36,965)

(9,998)

(46,963)

Issuance of convertible debentures

^[1],[3]

^[1]

(6,223)

^[1]

(52,610)

^[1]

21,868

^[1]

11,217

(25,748)

460

(25,288)

Share-based payment

^[1]

6,485

^[1]

6,485

Issuance of shares, net

284

175,632

^[1]

175,916

10,405

^[1]

10,405

Exercise of share options

^[1]

Dividends and distributions by subsidiaries to non-controlling interest

^[1]

2,293

Initial consolidation of purchased company

^[1]

22,726

Investment by non- controlling interest in subsidiaries

^[1]

56,998

Increase (decrease) in equity

310

175,632

10,405

^[1]

6,485

^[1]

^[1],[3]

192,832

77,431

270,263

Balance at Dec. 31, 2021

2,549

556,161

10,405

5,378

^[1],[3]

(19,432)

^[1],[3]

20,100

^[1],[3]

(14,548)

^[1],[3]

(54,960)

^[1],[3]

58,948

^[1],[3]

(31,963)

532,638

224,743

757,381

Fair value changes of financial instruments used for cash flow hedging , net of tax

^[3]

24,749

13,364

38,113

Other comprehensive income (loss):

^[3]

35,382

^[3]

35,382

24,510

59,892

Exchange differences due to translation of foreign operations

^[3]

69,735

^[3]

69,735

8,442

78,177

Other comprehensive income item that will not be transfer to profit or loss:

Total other comprehensive income (loss) for the year

^[3]

(84,007)

^[3]

(84,007)

(28,151)

(112,158)

^[3]

35,382

^[3]

69,735

^[3]

(84,007)

^[3]

21,110

4,801

25,911

Issuance of convertible debentures

^[3]

35,382

^[3]

69,735

^[3]

(84,007)

^[3]

24,749

45,859

18,165

64,024

Share-based payment

^[3]

13,909

^[3]

13,909

Issuance of shares, net

270

206,355

^[3]

206,625

5,091

^[3]

5,091

Exercise of share options

^[3]

Increase in ownership rate interest within control

^[3]

(64)

^[3]

(36)

5,247

5,211

Dividends and distributions by subsidiaries to non-controlling interest

^[3]

3,392

Investment in consolidated entity

^[3]

^[2],[3]

^[3]

1,177

Increase (decrease) in equity

278

206,355

5,091

^[3]

13,909

^[3]

(64)

^[3]

225,597

3,032

228,629

Balance at Dec. 31, 2022

2,827

762,516

15,496

5,378

^[2],[3]

(19,404)

^[2],[3]

34,009

^[2],[3]

20,770

^[2],[3]

14,775

^[2],[3]

(25,059)

^[2],[3]

(7,214)

804,094

245,940

1,050,034

Fair value changes of financial instruments used for cash flow hedging , net of tax

^[2]

70,924

27,117

98,041

Other comprehensive income (loss):

^[2]

12,586

^[2]

12,586

3,343

15,929

Exchange differences due to translation of foreign operations

^[2]

42,364

^[2]

42,364

11,299

53,663

Other comprehensive income item that will not be transfer to profit or loss:

Total other comprehensive income (loss) for the year

^[2]

(33,691)

^[2]

(33,691)

(7,987)

(41,678)

^[2]

12,586

^[2]

42,364

^[2]

(33,691)

^[2]

21,259

6,655

27,914

Exercise of options and conversion of debentures into shares

^[2]

12,586

^[2]

42,364

^[2]

(33,691)

^[2]

70,924

92,183

33,772

125,955

Share-based payment

^[2]

8,841

^[2]

8,841

Issuance of shares, net

456

265,994

^[2]

266,450

(2)

^[2]

Increase in ownership rate interest within control

^[2]

(2,839)

^[2]

(2,839)

(4,557)

(7,396)

Sale of consolidated subsidiaries

^[2]

191

Dividends and distributions by subsidiaries to non-controlling interest

^[2]

13,596

Investment in consolidated entity

^[2]

5,448

Increase (decrease) in equity

466

266,016

(2)

^[2]

(2,839)

^[2]

8,841

^[2]

272,482

(12,514)

259,968

Balance at Dec. 31, 2023

$ 3,293

$ 1,028,532

$ 15,494

$ 5,378

^[2]

$ (22,243)

^[2]

$ 42,850

^[2]

$ 33,356

^[2]

$ 57,139

^[2]

$ (58,750)

^[2]

$ 63,710

$ 1,168,759

$ 267,198

$ 1,435,957

[1]	The Capital reserves total to USD (4,154) thousands
[2]	The Capital reserves total to USD 57,730 thousands
[3]	The Capital reserves total to USD 30,469 thousands

Development Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
Development Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Development Expenses [Abstract]
Payroll, salaries and associated expenses	$ 3,565	$ 2,558	$ 2,570
Other development expenses	2,782	3,029	2,146
Total	$ 6,347	$ 5,587	$ 4,716

General and Administrative Expenses (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of General And Administrative Expenses [Abstract]

Disclosure of detailed information about general and administrative expenses table

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands
Payroll, salaries and associated expenses		16,310		16,526		8,238
Professional services		5,282		4,120		2,942
Office and maintenance		2,120		1,963		965
Depreciation		1,954		1,705		1,054
Management and director fees		955		819		739
Insurance		2,655		98		118
Computer services		1,548		1,166		707
Others		2,479		2,342		806

Total		33,303		28,739		15,569

Changes in Liabilities from Financing Activities (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Disclosure of reconciliation of liabilities arising from financing activities [line items]

Changes in Liabilities from Financing Activities, beginning of period

$ 2,164,877

$ 1,823,738

$ 1,173,083

Translation differences in respect of foreign operations

465,923

400,559

580,246

17,902

(189,548)

830

Adjustments in respect of cash flows for operating activities

^[1]

26,784

34,859

14,383

Initial Consolidation Liabilities Arising From Financing Activities

^[1]

46,839

Changes in Liabilities from Financing Activities , end of period

28,492

95,269

8,357

2,703,978

2,164,877

1,823,738

Disclosure of reconciliation of liabilities arising from financing activities [line items]

Changes in Liabilities from Financing Activities, beginning of period

^[2]

256,736

307,481

206,527

Translation differences in respect of foreign operations

^[2]

68,303

(16,571)

89,989

^[2]

(4,076)

(35,037)

10,444

Adjustments in respect of cash flows for operating activities

^[2]

2,198

^[1]

863

521

Initial Consolidation Liabilities Arising From Financing Activities

^[1],[2]

Changes in Liabilities from Financing Activities , end of period

^[2]

^[2]

323,161

256,736

307,481

Disclosure of reconciliation of liabilities arising from financing activities [line items]

Changes in Liabilities from Financing Activities, beginning of period

^[2]

131,763

101,291

Translation differences in respect of foreign operations

^[2]

47,755

96,343

^[2]

(3,763)

(15,576)

3,741

Adjustments in respect of cash flows for operating activities

^[2]

2,952

^[1]

3,195

1,207

Initial Consolidation Liabilities Arising From Financing Activities

^[1],[2]

Changes in Liabilities from Financing Activities , end of period

^[2]

(21)

(4,902)

^[2]

130,931

131,763

101,291

Loans from banks and other financial institutions

Disclosure of reconciliation of liabilities arising from financing activities [line items]

Changes in Liabilities from Financing Activities, beginning of period

^[2]

1,585,846

1,231,208

840,582

Translation differences in respect of foreign operations

^[2]

403,679

357,868

389,728

^[2]

21,664

(123,423)

(9,154)

Adjustments in respect of cash flows for operating activities

^[2]

20,880

^[1]

32,435

13,801

Initial Consolidation Liabilities Arising From Financing Activities

^[2]

Changes in Liabilities from Financing Activities , end of period

^[2]

(2,530)

^[3]

87,758

(3,749)

^[3]

^[2]

2,029,539

1,585,846

1,231,208

Loans from non-controlling interests [Member]

Disclosure of reconciliation of liabilities arising from financing activities [line items]

Changes in Liabilities from Financing Activities, beginning of period

90,909

78,113

46,241

Translation differences in respect of foreign operations

(1,211)

15,834

10,530

2,466

(5,210)

(3,826)

Adjustments in respect of cash flows for operating activities

754

^[1]

330

Initial Consolidation Liabilities Arising From Financing Activities

^[1]

24,037

Changes in Liabilities from Financing Activities , end of period

(167)

1,842

1,034

92,751

90,909

78,113

Disclosure of reconciliation of liabilities arising from financing activities [line items]

Changes in Liabilities from Financing Activities, beginning of period

99,623

105,645

79,733

Translation differences in respect of foreign operations

(4,848)

(4,327)

(6,344)

1,611

(10,302)

(375)

Adjustments in respect of cash flows for operating activities

^[1]

(1,964)

(1,243)

Initial Consolidation Liabilities Arising From Financing Activities

22,802

Changes in Liabilities from Financing Activities , end of period

^[4]

31,210

10,571

^[1]

11,072

$ 127,596

$ 99,623

$ 105,645

[1]	Including interest accrued and interest paid.
[2]	Including interest payable.
[3]	Mostly due to the offsetting of deferred borrowing costs which were prepaid by the project companies on the financial closing dates, and capitalization of finance expenses during the construction period.
[4]	Initial creation and index linking vis-à-vis right-of-use asset.

Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2023

Cash and cash equivalents [abstract]

Disclosure of cash and cash equivalents

	December 31		December 31
	2023		2022
	USD in thousands		USD in thousands
Cash in banks		387,891		129,792
Short term deposits		15,914		64,077

		403,805		193,869

General and Administrative Expenses

12 Months Ended

Dec. 31, 2023

Disclosure Of General And Administrative Expenses [Abstract]

General and Administrative Expenses

Note 22 - General and Administrative Expenses

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands
Payroll, salaries and associated expenses		16,310		16,526		8,238
Professional services		5,282		4,120		2,942
Office and maintenance		2,120		1,963		965
Depreciation		1,954		1,705		1,054
Management and director fees		955		819		739
Insurance		2,655		98		118
Computer services		1,548		1,166		707
Others		2,479		2,342		806

Total		33,303		28,739		15,569

Cost of Sales

12 Months Ended

Dec. 31, 2023

Cost Of Sales [Abstract]

Cost of Sales

Note 20 - Cost of Sales

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands

Site maintenance		35,307		26,845		11,937
Payroll, salaries and associated expenses		6,646		6,408		2,823
Insurance		5,835		3,450		1,391
Municipal taxes		3,526		2,133		2,101
Lease		1,083		851		234
Expenses associated with facility construction services		397		751		3,291

Total		52,794		40,438		21,777

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Annex A – Acquisition (sale) of Consolidated Companies, net
Working capital (except for cash and cash equivalents)	$ 14,086	$ 139	$ (42,304)
Restricted cash	(822)	0	0
Financial liabilities through profit or loss	0	0	(86,768)
Fixed assets	(18,730)	1,364	121,359
Intangible assets	7,965	41,437	164,765
Deferred costs in respect of projects	2,348	15,741	104,346
Deferred borrowing costs	0	0	5,738
Deferred taxes	(6)	0	115
Investment in investee	(98)	0	(39,803)
Right-of-use asset and lease liability, net	147	0	(633)
Loans from banks and other financial institutions	18,588
Loan to investee	(17,391)	(1,719)	(24,512)
Loan from non-controlling interests	1,083	0	(23,551)
Non-controlling interests	(195)	0	(22,256)
Total consideration which was paid, after deducting cash in consolidated companies	6,975	$ 56,962	$ 156,496
UNITED STATES
Annex A – Acquisition (sale) of Consolidated Companies, net
Payment for development of project	$ 103,000

Financial Instruments (Details) - 12 months ended Dec. 31, 2023 - Currency risk [member] - Hedges of net investment in foreign operations [member]
$ in Thousands, € in Millions, ₪ in Millions

EUR (€)

ILS (₪)

USD ($)

Ruach Beresheet Project [Member]

Disclosure of detailed information about financial instruments [line items]

Type of hedge

^[1]

Foreign currency forward contracts

Project

^[1]

Ruach Beresheet

Amount receivable in transaction currency | €

^[1]

€ 11.8

Amount payable in transaction currency | ₪

^[1]

₪ 47.3

Expiration date

^[1]

January 2024

Fair value

^[1]

$ 40

Storage Project [Member]

Disclosure of detailed information about financial instruments [line items]

Type of hedge

^[1]

Foreign currency forward contracts

Project

^[1]

Storage 2

Amount receivable in transaction currency

^[1]

34,200

Amount payable in transaction currency | ₪

^[1]

₪ 123.6

Expiration date

^[1]

January 2024

Fair value

^[1]

$ 130

[1]	Hedging transaction to hedge against the EUR/NIS exchange rate and the USD/NIS exchange rate, based on the schedule of payments to the main contractors of the projects.

Financial Instruments (Details 2) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]
Financial assets measured at fair value through profit or loss	$ 53,466	$ 42,918
Contract assets	99,416	106,774	$ 287,042
Other payables	103,622	77,864
Other financial liabilities	60,880	0
Financial risk [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets measured at fair value through profit or loss	53,466	42,918
Other payables	89,028	68,037
Financial risk [member] \| Increase 3% Effect on Pre-tax profit
Disclosure of detailed information about financial instruments [line items]
Financial assets measured at fair value through profit or loss		389
Contract assets	2,982	3,203
Loans to investee entities	188	199
Loans to non-controlling interests	158	170
Loans from banks and other financial institutions	(24,965)	(15,602)
Other financial liabilities	(78)	(80)
Financial assets (liabilities) due to change in the index rate	(10,814)	(11,721)
Financial risk [member] \| Carrying Value [Member]
Disclosure of detailed information about financial instruments [line items]
Financial assets measured at fair value through profit or loss		12,974
Contract assets	99,416	106,773
Loans to investee entities	6,264	6,622
Loans to non-controlling interests	5,267	5,680
Loans from banks and other financial institutions	(816,087)	(791,379)
Other financial liabilities	(2,591)	(2,751)
Financial assets (liabilities) due to change in the index rate	(707,731)	(662,081)
Financial risk [member] \| Decrease 3% Effect on Pre-tax profit
Disclosure of detailed information about financial instruments [line items]
Financial assets measured at fair value through profit or loss		(389)
Contract assets	(2,982)	(3,203)
Loans to investee entities	(188)	(199)
Loans to non-controlling interests	(158)	(170)
Loans from banks and other financial institutions	23,972	15,523
Other financial liabilities	78	80
Financial assets (liabilities) due to change in the index rate	$ 10,814	$ 11,642

Finance Expenses, Net (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Finance Expenses Net Abstract [Abstract]

Disclosure of finance expenses

	For the year ended December 31
	2023			2022			2021
	USD in thousands			USD in thousands			USD in thousands
Interest expenses from project finance loans		54,646			52,416			28,400
Interest expenses from corporate loans		9,750			78			-
Interest expenses from Debentures		13,191			13,098			9,143
Finance expenses in respect of contingent consideration
arrangement		1,900			3,978			2,596
Interest expenses from non-controlling interests loans		2,187			1,381			1,157
Finance expenses from hedging transactions		3,098			973			-
Finance expenses in respect of lease liability		2,503			1,964			1,243
Exchange differences		-			617			2,702
Finance expenses from lease back liability		1,511			-			-
Others		2,298			1,248			1,078
		91,084			75,753			46,319
Amounts capitalized to the cost of qualifying assets		(22,941	)		(13,162	)		(9,144	)
Total		68,143			62,591			37,175

Disclosure of finance income

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands
Finance income from contract asset in respect of
concession arrangements		10,294		17,188		24,310
Changes in the fair value of financial instruments
measured at fair value through profit or loss		4,425		2,953		3,145
Finance income from hedge transactions		-		-		1,053
Finance income from loans to investee entities		1,765		1,166		1,487
Finance income from deposits in banks		9,833		1,669		-
Exchange differences		10,250		-		-
Others		232		365		338
Total		36,799		23,341		30,333

Development Expenses

12 Months Ended

Dec. 31, 2023

Development Expenses [Abstract]

Development Expenses

Note 21 - Development Expenses

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands
Payroll, salaries and associated expenses		3,565		2,558		2,570
Other development expenses		2,782		3,029		2,146

Total		6,347		5,587		4,716

Debentures (Narrative) (Details) ₪ / shares in Units, $ in Thousands			1 Months Ended				12 Months Ended
	Apr. 07, 2022 ILS (₪)	Mar. 06, 2022 ILS (₪)	Sep. 21, 2023 ILS (₪) shares	Aug. 31, 2022 ILS (₪)	Jul. 30, 2021 ILS (₪) ₪ / shares	Jun. 30, 2019 ILS (₪) ₪ / shares shares	Dec. 31, 2023 ILS (₪) shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jun. 30, 2018 ILS (₪)
Debentures [Line Items]
Debenture Current Liabilities								$ 26,233	$ 15,832
Debenture Non Current Liabilities								424,317	369,905
Debentures								450,550	385,737
Terms Of Debentures							• The ratio of net financial debt (consolidated) to EBITDA as of the calculation date (if any) will not exceed 15 during more than two consecutive financial statements (audited or reviewed). The debt attributed to the projects during the construction stage (including senior debt and mezzanine non-recourse loans) will not be included in that calculation. • The Company will not create and/or will not agree to create, in favor of any third party whatsoever, a floating charge of any priority on all of its assets, i.e., a general floating charge, to secure any debt or obligation whatsoever. • The Company will not perform a distribution, as this term is defined in the Companies Law, including a buyback of its shares, except subject to the following cumulative conditions:
Equity								1,435,957	1,050,034	$ 757,381	$ 512,406
Series E Debentures [Member]
Debentures [Line Items]
Debenture Current Liabilities								2,605	2,685
Debenture Non Current Liabilities								21,547	24,854
Debentures								24,152	27,539			₪ 135,000,000
Terms Of Debentures							• The debentures (Series E) are not linked to any index and will be repaid in 12 semi-annual payments, each at a rate of 3.5% of the principal amount, and the last payment, at a rate of 58% of the principal amount, will be paid on March 1, 2025. • The debentures bear fixed annual interest of 4.25%, to be paid twice per year. • The Company’s undertaking to repay the debentures is not secured by any collateral, or any other security.
Equity \| ₪												₪ 200,000,000
Maximum ratio between standalone net financial debt and net cap												70.00%
Series F Debentures [Member]
Debentures [Line Items]
Par value of debenture \| ₪ / shares						₪ 1
Debenture Current Liabilities								23,628	13,147
Debenture Non Current Liabilities								173,250	113,187
Debentures						₪ 222,000,000		196,878	126,334
Terms Of Debentures							In accordance with the shelf offering report, the Company issued, NIS 222,000,000 par value of debentures (Series F), with a par value of NIS 1 each. The debentures are not linked to any index and are repayable in 7 annual payments, first six annual payments at a rate of 8% of the debentures' principal and the last payment in 2026 at a rate of 52% of the debentures' principal. The interest rate of the debentures is 3.45% and will be paid twice per year.
Equity \| ₪						375,000,000
Maximum net financial debt \| ₪						₪ 10,000,000
Minimum ratio of equity to total balance sheet						20.00%
Additional Debentures \| ₪	₪ 335,870,101			₪ 335,870,101
Additional Issuance Of Debenture \| shares			335,182,000			728,421,043
Consideration For Debentures \| ₪	₪ 351,000,000		₪ 319,000,000	₪ 351,000,000
Series C Debentures [Member]
Debentures [Line Items]
Par value of debenture \| ₪ / shares					₪ 0.1
Debenture Current Liabilities								0	0
Debenture Non Current Liabilities								130,566	131,385
Debentures		₪ 164,363,000			₪ 367,220,000		₪ 80,570	130,566	131,385
Ordinary shares issued upon conversion of debentures \| shares							895,000
Terms Of Debentures							Presented below are the main terms of Series C: • Series C are not linked to any index, have a par value of NIS 1 each, and are repayable in a single payment on September 1, 2028. • The unpaid principal balance of the debentures will bear fixed annual interest of 0.75%, to be paid twice per year from 2021 to 2028 (inclusive). • The unpaid principal balance of the Series C is convertible into Company's ordinary shares, with a par value of NIS 0.1 each, in the manner specified below: (1) during the period from the date of listing of the series of Series C on the TASE until December 31, 2023, each NIS 9 par value of the debentures (Series C) will be convertible into one ordinary share of the Company; and (2) during the period from January 1, 2024 to August 22, 2028, each NIS 24 par value of Series C will be convertible into one ordinary share of the Company. • In 2021 Midroog Ltd. updated the rating of the debentures (Series C) which the Company issued, from A3.il to A2.il, stable rating outlook.
Description of par value					price of 95.1 agorot per NIS 1 par value
Consideration For Debentures \| ₪		₪ 155,800,000			₪ 349,226,000
Series D Debentures [Member]
Debentures [Line Items]
Debenture Current Liabilities								0	0
Debenture Non Current Liabilities								98,954	100,479
Debentures							₪ 385,970,000	$ 98,954	$ 100,479
Terms Of Debentures							Presented below are the main terms of Series D: • Series D are not linked to any index, have a par value of NIS 1 each, and are repayable in 2 equal payments which will be paid on September 1 2027 and 2029. • The unpaid principal balance of the debentures bears fixed annual interest of 1.5%, to be paid twice per year, from 2021 to 2029 (inclusive). • The Company’s undertaking to repay the debentures is not secured by any collateral, or any other security.
Equity \| ₪							₪ 1,250,000,000
Maximum ratio between standalone net financial debt and net cap							65.00%	65.00%
Description of par value							price of 90.8 agorot per NIS 1 par value
Consideration For Debentures \| ₪					₪ 350,461,000
Equity After Distribution \| ₪							₪ 1,500,000,000
Series C And D Debentures [Member]
Debentures [Line Items]
Terms Of Debentures							Main financial covenants in respect of the debentures (Series C and Series D) • The Company’s equity according to its financial statements (audited or reviewed) will be no less than NIS 1,250 million. • The ratio between standalone net financial debt and net cap will not exceed 65% during two consecutive financial statements (audited or reviewed). • The equity to total balance sheet ratio in the Company’s standalone financial statements will be no less than 25% during two consecutive financial statements (audited or reviewed).

Leases (Details) $ in Thousands	12 Months Ended
Leases (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Disclosure of quantitative information about right-of-use assets [line items]
Right of use, Balance as of January 1, 2022	$ 96,515
Additions	26,120
Amortization of right-of-use assets	(5,649)
Linkage to index	4,100
Sale of consolidated companies	(1,354)
Reserve for translation differences	1,616
Right of use, Balance as of December 31, 2022	121,348
Land
Disclosure of quantitative information about right-of-use assets [line items]
Right of use, Balance as of January 1, 2022	93,547
Additions	25,122
Amortization of right-of-use assets	(4,765)
Linkage to index	4,060
Sale of consolidated companies	(1,354)
Reserve for translation differences	1,670
Right of use, Balance as of December 31, 2022	118,280
Offices and vehicles
Disclosure of quantitative information about right-of-use assets [line items]
Right of use, Balance as of January 1, 2022	2,968
Additions	998
Amortization of right-of-use assets	(884)
Linkage to index	40
Sale of consolidated companies	0
Reserve for translation differences	(54)
Right of use, Balance as of December 31, 2022	$ 3,068

Debentures

12 Months Ended

Dec. 31, 2023

Debentures [Abstract]

Credit From Banking Corporations Financial Institutions And Other Credit Providers [Abstract]

Note 13 - Debentures

	Current liabilities				Non-current liabilities				Total
	As of December 31				As of December 31				As of December 31
	2023		2022		2023		2022		2023		2022
	USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands
Debentures (Series E) (1.)		2,605		2,685		21,547		24,854		24,152		27,539
Debentures (Series F) (2.)		23,628		13,147		173,250		113,187		196,878		126,334
Debentures (Series C) (3.)		-		-		130,566		131,385		130,566		131,385
Debentures (Series D) (4.)		-		-		98,954		100,479		98,954		100,479

Total Debentures		26,233		15,832		424,317		369,905		450,550		385,737

Debentures (Series E)

In June 2018, the Company issued NIS 135,000,000 par value of debentures (Series E) with a par value of NIS 1 each, with the following main terms:

•

The debentures (Series E) are not linked to any index and will be repaid in 12 semi-annual payments, each at a rate of 3.5% of the principal amount, and the last payment, at a rate of 58% of the principal amount, will be paid on March 1, 2025.

•

The debentures bear fixed annual interest of 4.25%, to be paid twice per year.

•

The Company’s undertaking to repay the debentures is not secured by any collateral, or any other security.

Main financial covenants in respect of the debentures (Series E)

•

The Company’s equity according to its financial statements (audited or reviewed) will be no less than NIS 200 million.

•

The ratio between standalone net financial debt and net cap will not exceed 70% during two consecutive financial statements (audited or reviewed).

•

The standalone net financial debt will not exceed NIS 10 million, and the ratio of net financial debt (consolidated) to EBITDA as of the calculation date (if any) will not exceed 18 during more than two consecutive financial statements (audited or reviewed).

•

The equity to total balance sheet ratio in the Company’s standalone reports will be no less than 20% during two consecutive financial statements (audited or reviewed).

•

The Company will not create and/or will not agree to create, in favor of any third party whatsoever, a floating charge of any priority on all of its assets, i.e., a general floating charge, to secure any debt or obligation whatsoever.

•

The Company will not perform any distribution except subject to the cumulative conditions specified in the trust deed of the debentures.

As of December 31, 2023, the Company is in compliance with all of the financial covenants in accordance with the trust deed, as stated above.

Debentures (Series F)

In June 2019, the Company issued, NIS 222,000,000 par value of debentures (Series F), with a par value of NIS 1 each, with the following main terms:

In accordance with the shelf offering report, the Company issued, NIS 222,000,000 par value of debentures (Series F), with a par value of NIS 1 each. The debentures are not linked to any index and are repayable in 7 annual payments, first six annual payments at a rate of 8% of the debentures' principal and the last payment in 2026 at a rate of 52% of the debentures' principal. The interest rate of the debentures is 3.45% and will be paid twice per year.

On April 7 and August 31 of 2022 the Company completed 2 extensions of Series F with total of NIS 335,870,101 par value for a total (gross) consideration of NIS 351 million.

On September 21, 2023, the Company completed an additional extension of NIS 335,182,000 Series F, with a par value of NIS 1 each for a total (gross) consideration of NIS 319 million.

After the performance of the aforementioned extensions, and as of the balance sheet date, the total scope of the debentures (Series F) amounts to 728,421,043 par value.

Main financial covenants in respect of the debentures (Series F)

•

The Company’s equity according to its financial statements (audited or reviewed) will be no less than NIS 375 million.

•

The ratio of standalone net financial debt to net cap will not exceed 70% during two consecutive financial statements.

•

The standalone net financial debt, as defined above, does not exceed NIS 10 million, and the ratio of net financial debt (consolidated) to EBITDA as of the calculation date (if any) does not exceed 18 during more than two consecutive financial statements (audited or reviewed).

•

The equity to total balance sheet ratio in the Company’s standalone reports will be no less than 20% during two consecutive financial statements (audited or reviewed).

•

Insofar as the Series F have not been repaid in full, the Company will not perform any distribution except subject to the cumulative conditions specified in the trust deed of the Debentures.

As of December 31, 2023, the Company is in compliance with all of the financial covenants in accordance with the trust deed, as stated above.

Debentures (Series C and D):

On July 30, 2021, the Company issued two bond series: Series C and Series D, as specified below.

Convertible Debentures (Series C)

The Company completed an issuance of debentures convertible into registered ordinary shares, with a par value of NIS 0.1 each, of the Company (hereinafter: the “Series C”), at a total scope of NIS 367,220,000 par value, at a price of 95.1 agorot per NIS 1 par value, and for a total (gross) consideration of NIS 349,226 thousand.

On March 6, 2022, the Company completed an extension of Series C, at a total scope of NIS 164,363,000 par value, for a total gross consideration of approximately NIS 155.8 million.

Presented below are the main terms of Series C:

•

Series C are not linked to any index, have a par value of NIS 1 each, and are repayable in a single payment on September 1, 2028.

•

The unpaid principal balance of the debentures will bear fixed annual interest of 0.75%, to be paid twice per year from 2021 to 2028 (inclusive).

•

The unpaid principal balance of the Series C is convertible into Company's ordinary shares, with a par value of NIS 0.1 each, in the manner specified below: (1) during the period from the date of listing of the series of Series C on the TASE until December 31, 2023, each NIS 9 par value of the debentures (Series C) will be convertible into one ordinary share of the Company; and (2) during the period from January 1, 2024 to August 22, 2028, each NIS 24 par value of Series C will be convertible into one ordinary share of the Company.

•

In 2021 Midroog Ltd. updated the rating of the debentures (Series C) which the Company issued, from A3.il to A2.il, stable rating outlook.

During 2023 NIS 80,570 par value of Series C converted into 895 ordinary shares of the Company.

Debentures (Series D)

The Company completed an issuance of debentures (hereafter: “Series D”), at a total scope of NIS 385,970,000 par value, at a price of 90.8 agorot per NIS 1 par value, and for a total (gross) consideration of NIS 350,461 thousand.

Presented below are the main terms of Series D:

•

Series D are not linked to any index, have a par value of NIS 1 each, and are repayable in 2 equal payments which will be paid on September 1 2027 and 2029.

•

The unpaid principal balance of the debentures bears fixed annual interest of 1.5%, to be paid twice per year, from 2021 to 2029 (inclusive).

•

The Company’s undertaking to repay the debentures is not secured by any collateral, or any other security.

Main financial covenants in respect of the debentures (Series C and Series D)

•

The Company’s equity according to its financial statements (audited or reviewed) will be no less than NIS 1,250 million.

•

The ratio between standalone net financial debt and net cap will not exceed 65% during two consecutive financial statements (audited or reviewed).

	•	The equity to total balance sheet ratio in the Company’s standalone financial statements will be no less than 25% during two consecutive financial statements (audited or reviewed).

•

The ratio of net financial debt (consolidated) to EBITDA as of the calculation date (if any) will not exceed 15 during more than two consecutive financial statements (audited or reviewed). The debt attributed to the projects during the construction stage (including senior debt and mezzanine non-recourse loans) will not be included in that calculation.

•

The Company will not perform a distribution, as this term is defined in the Companies Law, including a buyback of its shares, except subject to the following cumulative conditions:

(A)

At a rate which will not exceed 70% of the Company’s profit for the period, in accordance with its consolidated financial statements which were last published before the resolution to perform the distribution;

(B)

Its equity (after the distribution) exceeds NIS 1,500 million;

(C)

Its equity to balance sheet ratio, on a standalone basis according to the separate financial information (after deducting the distribution amount) will be no less than 30% - subject to the distribution tests specified in section 302 of the Companies Law;

•

Mechanism was determined for adjusting the interest rate due to a deviation from the financial covenants and due to a change in the rating or discontinuation of it. The total interest rate increases will not exceed more than 1.25% above the interest rate which was determined in the first offering report of the debentures.

As of December 31, 2023, the Company is in compliance with all of the financial covenants in accordance with the trust deed, as stated above.

Loans from banks and other financial institutions

12 Months Ended

Dec. 31, 2023

Loans from banks and other financial institutions

Note 12 - Loans from banks and other financial institutions

	Current liabilities				Non-current liabilities				Total
	As of December 31				As of December 31				As of December 31
	2023		2022		2023		2022		2023		2022
	USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands
Credit from banks (1)		-		565		-		-		-		565
Loans from banks and other financial institutions for project financing (2)		324,666		165,062		1,586,692		1,376,260		1,911,358		1,541,322
Loans from banks for corporate financing (3)		-		-		116,233		42,797		116,233		42,797

Total credit		324,666		165,627		1,702,925		1,419,057		2,027,591		1,584,684

(1)

Withdrawals from a value added tax facility during the construction period in accordance with the financing agreements of the various projects.

(2)

Loans from banks and other financial institutions for project financing

Project name	Mivtachim and Talmei Bilu	Halutziot	Kramim and Idan	Medium rooftops
Lender	Bank Leumi Le-Israel Ltd. and entities of Menorah Group and Amitim Pension Fund	Bank Leumi Le-Israel Ltd. and entities of Menorah Group and Amitim Pension Fund	Bank Leumi Le-Israel Ltd. and entities of Menorah Group and Amitim Pension Fund	Institutional entities of Clal Insurance Group
Amount of loan / credit facility	USD 98 million (NIS 356 million)	USD 152 million (NIS 552 million)	USD 30 million (NIS 107 million)	USD 4 million (NIS 15 million)
Date financing provided	December 2020	December 2020	December 2020	January 2019
Balance of the loan as of December 31, 2023	USD 83 million (NIS 300.3 million)	USD 152 million (NIS 552 million)	USD 26 million (NIS 93.6 million)	USD 3 million (NIS 12 million)
Balance of the loan as of December 31, 2022	USD 91 million (NIS 320.2 million)	USD 164 million (NIS 576.8 million)	USD 28 million (NIS 99.1 million)	USD 4 million (NIS 12.6 million)
Amortization schedule	Spitzer amortization table comprised of quarterly payments	Spitzer amortization table comprised of quarterly payments	Spitzer amortization table comprised of quarterly payments	Spitzer amortization table comprised of quarterly payments
Debt period	Throughout the entire period until the expiration date of the permanent electricity production license, approximately 13 years.	Throughout the entire period until the expiration date of the permanent electricity production license, approximately 15 years.	Throughout the entire period until the expiration date of the permanent electricity production license, approximately 13 years.	Approximately 15 years
Stated annual interest rate	Interest of approximately 0.77%, index-linked	Interest of approximately 0.88%, index-linked	Interest of approximately 0.8%, index-linked	Interest of approximately 2.2%, index-linked
Financial covenants:
Debt service reserve	-	-	-	USD 0.22 million (NIS 0.8 million)
ADSCR default	1.05	1.05	1.05	1.07
LLCR default	1.05	1.05	1.05	1.12
Fulfillment of financial covenants	As of the balance sheet date, the companies fulfilled the foregoing financial covenants	As of the balance sheet date, the partnership fulfilled the foregoing financial covenants	As of the balance sheet date, the partnerships fulfilled the foregoing financial covenants	As of the balance sheet date, the partnerships fulfilled the foregoing financial covenants
Collateral	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, and cross-support between the project corporations Mivtachim, Talmei Bilu, Halutziot, Kramim and Idan, in respect of the debt service.	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, and cross-support between the project corporations Mivtachim, Talmei Bilu, Halutziot, Kramim and Idan, in respect of the debt service.	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, and cross-support between the project corporations Mivtachim, Talmei Bilu, Halutziot, Kramim and Idan, in respect of the debt service.	Charge on the partnership’s interests in the projects, on the project partnership’s assets, right to proceeds from the sale of electricity, the project partnership’s land rights, insurance, agreements vis-à-vis contractors and collateral from contractors thereunder, the rights of the partnership’s partners to receive profits, etc. Backing between the Company’s concatenated interests in the project partnerships of each group of projects.

Project name	Sunlight 1	Emek HaBacha	Sunlight 2 and Dekel.
Lender	Institutional entities of Clal Insurance Group	Bank Hapoalim Ltd. in collaboration with Phoenix and Harel groups	Institutional entities of Clal Insurance Group
Amount of loan / credit facility	USD 44 million (NIS 160 million)	USD 159 million (NIS 576 million) Index linked loan	USD 19 million (NIS 70 million)
Date financing provided	March 2018	November 2018	December 2019
Balance of the loan as of December 31, 2023	USD 22 million (NIS 76 million)	USD 161 million (NIS 584.5 million)	USD 13 million (NIS 48.8 million)
Balance of the loan as of December 31, 2022	USD 42 million (NIS 146.5 million)	USD 168 million (NIS 589.7 million)	USD 14 million (NIS 49.3 million)
Amortization schedule	Spitzer amortization table, quarterly repayments.	Spitzer amortization table, quarterly repayments.	Spitzer amortization table, quarterly repayments
Debt period	Construction period and another approximately 22 years	Construction period and another approximately 18 years.	Construction period and another approximately 22 years
Stated annual interest rate	interest within the range of 2.6%-3%, CPI-linked	The construction period - base interest () plus a margin of 3.3%, CPI-linked The operation period - base interest () plus a margin of 2.65%, CPI-linked	Base interest (*) plus a margin of 2.15%, CPI-linked
Financial covenants:
Debt service reserve	USD 2 million (NIS 6 million)	-	USD 1 million (NIS 2 million)
ADSCR default	1.07	1.05	1.07
LLCR default	1.12	1.05	1.12
Fulfillment of financial covenants	As of the balance sheet date, the partnerships fulfilled the foregoing financial covenants	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required	As of the balance sheet date, the partnerships fulfilled the foregoing financial covenants except in the case of one project, in connection with which the Company has received a waiver letter from the applicable bank stating that the lender waives, inter alia, its right to demand immediate repayment.
Collateral	Charge on the partnership’s interests in the projects, charge on the project partnership’s assets, right to proceeds from the sale of electricity, the project partnership’s land rights, insurance, agreements vis-à-vis contractors and collateral from contractors thereunder, the rights of the partnership’s partners to receive profits, etc. Backing between the Company’s concatenated interests in the project partnerships of each group of projects.	Charge on the tariff and conditional license, charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, etc.	Charge on the partnership’s interests in the projects, charge on the project partnership’s assets, right to proceeds from the sale of electricity, the project partnership’s land rights, insurance, agreements vis-à-vis contractors and collateral from contractors thereunder, the rights of the partnership’s partners to receive profits, etc. Backing between the Company’s concatenated interests in the project partnerships of each group of projects.

(*) Base interest rate - The interest rate of CPI-linked government debentures with the same average lifetime, determined on the withdrawal date.

Project name	Tullynamoyle	Lukovac	EWK	Storage 1+2, through Enlight Finance L.P.
Lender	Bank of Ireland	ERSTE and PBZ, of INTESA Group	ERSTE, EBRD and Novi Sad	Bank Hapoalim B.M.
Amount of loan / credit facility	USD 15.82 million (EUR 14.3 million)	USD 54 million (EUR 48.8 million)	USD 153.7 million (EUR 139 million)	USD 224 million (NIS 812 million)
Date financing provided	August 2020	December 2020	December 2017	December 2023
Balance of the loan as of December 31, 2023	USD 12.16 million (EUR 11 million)	USD 41 million (EUR 37 million)	USD 93 million (EUR 84 million)	USD 141 million (NIS 513.1 million)
Balance of the loan as of December 31, 2022	USD 12.65 million (EUR 11.86 million)	USD 43.9 million (EUR 41 million)	USD 99.9 million (EUR 93.6 million)	-
Amortization schedule	The loan will be repaid in 50 quarterly payments	The loan will be repaid in 46 quarterly payments	The loan will be repaid in 23 semi-annual payments	The loan will be repaid in 12 semi-annual payments ending with a final repayment of the remaining loan balance.
Debt period	12.5 years	11.5 years	Construction period and another 11.5 years	20-year amortization period and a 6-year mini-perm term
Stated annual interest rate	90% of the loan bears interest at a rate of 3.47% and 10% of the loan bears interest of 3M Euribor plus a margin of 2%	81% of the loan bears interest at a rate of 3.5% and 19% of the loan bears interest of 3M Euribor plus a margin in the range of 3-3.5%	EUR 83 million of the loan bears interest at a rate of 2.3%, EUR 40 million of the loan bears interest at a rate of 3.95%, And EUR 16 million of the loan bears interest in the range of 4.65%-4.83%.	Interest at a rate of 2.6% above Israeli nominal government bond yields
Financial covenants:
Debt service reserve	-	USD 3.1 million (EUR 2.8 million)	USD 8.5 million (EUR 7.7 million)	-
ADSCR default	1.05	1.10	1.10	1.05
Fulfillment of financial covenants	Non-fulfillment, receipt of a waiver letter from the bank stating that the lender waives, inter alia, its right to demand immediate repayment.	As of the balance sheet date, the Company fulfilled the foregoing financial covenants	As of the balance sheet date, the Company fulfilled the foregoing financial covenants	-
Collateral	The project company pledged in favor of the bank all of the equipment in the project, its rights by virtue of power purchase agreements, its rights in the licenses, its rights in the insurance policy, and its other rights in the project. The Company’s entire stake in the project company was also pledged in favor of the bank.	The project company will pledge in favor of the bank the project equipment, power purchase agreements, its rights in licenses, the insurance policy, and its other rights in the project.	The project company will pledge in favor of the bank the project company’s assets, cash flow rights, insurance policies, collateral from EPC contractors, etc.	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, and cross-support between the projects in the cluster, in respect of the debt service. Twelve months after the last COD, a debt sizing test will be carried out. If the debt sizing test does not meet the required ratio, the Company may be required to inject equity in order to reduce debt amount so it meets the debt sizing required ratio.

Project name	Attila	SOWI	Picasso	Halutziot 2+ Halutziot 1 upgrade
Lender	ERSTE	ERSTE, NLB group and EBRD	Hamburg Commercial Bank	Bank Leumi Le-Israel Ltd.
Amount of loan / credit facility	USD 40.6 million (HUF 14 billion)	USD 127.2 million (EUR 115 million)	USD 90.4 (EUR 81.7) million. The bank will also provide a credit facility for the required guarantees at a scope of up to USD 6.5 (EUR 5.8) million during the operating period	USD 49 million (NIS 177 million)
Date financing provided	January 2019	January 2020	January 2020	September 2022
Balance of the loan as of December 31, 2023	USD 34 million (HUF 11.76 billion)	USD 99 million (EUR 89.6 million)	USD 81 million (EUR 72.9 million)	USD 49 million (NIS 177 million)
Balance of the loan as of December 31, 2022	USD 33.7 million (HUF 12.66 billion)	USD 102.6 million (EUR 96.2 million)	USD 83 million (EUR 77.5 million)	-
Amortization schedule	Quarterly repayments, spitzer amortization table with lower repayments in the first two years	Semi-annual repayments, Spitzer amortization table	Quarterly repayments, spitzer amortization table	Spitzer amortization table comprised of quarterly payments
Debt period	Construction period and another 17 years	Construction period and another 11 years	Construction period and another 18 years	Construction period and another 22 years
Stated annual interest rate	30% of the loan bears interest at a rate of 4.05% And 70% of the loan bears interest at a rate of approximately 6.3%.	Approximately 50% of the loan bears interest at a rate of 1.9%, approximately 32% of the loan bears interest at a rate of approximately 4.1% and 18% of the loan bears Euribor plus a margin of 4%.	Interest at a rate of 1.58% during the construction period and until December 31, 2029, and interest at a rate of 2.33% until the end of the loan period.	base interest plus a margin of 1.25%-2.2% CPI-linked
Financial covenants:
Debt service reserve	USD 1.2 million (HUF 414 million)	USD 10.6 million (EUR 9.6 million)	-	-
ADSCR default	1.05	1.05	1.05	1.05
Fulfillment of financial covenants	As of the balance sheet date, the Company fulfilled the foregoing financial covenants	As of the balance sheet date, the Company fulfilled the foregoing financial covenants	As of the balance sheet date, the Company fulfilled the foregoing financial covenants	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required
Collateral	Charge on the tariff and the electricity production license, charge on the project companies’ assets, cash flow rights, land rights, insurance. collateral from the project contractors, etc.) The financing of the portfolio of projects is applied and evaluated on a consolidated basis.	Charge on the project company’s assets, cash flow rights, land rights, collateral from the project contractors, etc.	Charge on the project company’s assets, cash flow rights, land rights, collateral from the project contractors, etc.	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project.

Project name	Ruach Beresheet	Gecama	Björnberget	Atrisco
Lender	Bank Hapoalim Ltd., and in collaboration with entities from Migdal and Amitim Group	Banco de Sabadell and Bankia	KFW IPEX-Bank and DekaBank, and the Swedish Export Credit Corporation (SEK).	Consortium of lenders led by HSBC Securities (USA) Inc.
Amount of loan / credit facility	USD 321.5 million (NIS 1.17 billion)	USD 185.8 million (EUR 168 million)	USD 229 million (EUR 207 million)	USD 303 million for construction period
Date financing provided	July 2020	June 2020	May 2021	December 2023
Balance of the loan as of December 31, 2023	USD 305.8 million (NIS 1.1 billion)	USD 164.4 million (EUR 148.6 million)	USD 218.8 million (EUR 197.8 million)	USD 212.2 million
Balance of the loan as of December 31, 2022	USD 280 million (NIS 986 million)	USD 167.3 million (EUR 156.9 million)	USD 137.3 million (EUR 128.7 million)	-
Amortization schedule	Quarterly repayments, spitzer amortization table	Semi-annual repayments, Spitzer amortization table	Semi-annual repayments, Spitzer amortization table	Construction Loan - semi annual payments based on predetermined amortization schedule.
Debt period	Construction period and another approximately 19 years	Construction period and another approximately 14 years	Construction period and another approximately 18 years	Construction period another approximately 23 years
Stated annual interest rate	construction period - base interest() plus a margin of 2.5%-3% Operating period - base interest() plus a margin of 2.2%-2.7%	Base interest of Euribor plus a margin of 2.5%-3%. The company hedged 90% of the total base interest liability during the entire debt period of 13 years, beginning from the project’s date of initial operation.	Base interest of Euribor plus a margin of 1.75%. The company hedged approximately 79% of the total base interest liability during the entire debt period of 18 years, beginning from the project’s date of initial operation.	Secured Overnight Financing Rate (“SOFR”) with a margin of 1.5% during construction period and SOFR plus 1.75% during term loan period.
Financial covenants:
Debt service reserve	-	-	-	-
ADSCR default	1.05	1.05	1.05	-
Fulfillment of financial covenants	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required	-
Collateral	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, etc.	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, etc.	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, etc.	Collateral on the SPV’s assets, cash flow rights, land rights, insurance, agreements, collateral from the project contractors, etc. Enlight Guarantee.

(*) Base interest rate - The interest rate of CPI-linked government debentures with the same average lifetime, determined on the withdrawal date.

(3)

Loans from banks for corporate financing

The receipt of credit facilities from Israeli banks in a cumulative scope of NIS 400 million

On July 6, 2021, the Company signed agreements with Bank Hapoalim Ltd. and Bank Leumi Le-Israel Ltd. (the “Lenders”), for the provision of credit facilities to the Company for an aggregate principal amount of NIS 250 million and NIS 150 million, respectively that can be executed by NIS or USD according to the Company decision. The credit facilities are intended to finance the Company’s business activities, including investments in the Company’s projects.

On December 22, 2022 the Company drew upon the credit facility from Bank Leumi Le-Israel Ltd. in USD currency in the amount of approximately USD 43 million.

On January 2023, the Company drew upon the second credit facility from Bank Hapoalim Ltd. in the amount of approximately USD 74 million

The interest rate is 2.0%-2.2% above the SOFR 3 month US Dollar interest rate that will be paid on a quarterly basis and the loan will be repaid in one payment after 60 months from the day of the withdrawn.

Main conditions and main undertakings:

The Company undertook to submit routine and standard reports to the lenders;

The lenders will be entitled to transfer their rights to entities which were defined in the agreements, such as major institutional entities, banks, etc.;

The Company undertook to maintain a rating of Baa3.il, or a corresponding rating, from one of the local rating agencies (Maalot or Midroog), or from one of the international rating agencies (Moody’s and/or S&P);

The Company undertook to maintain a current negative pledge and a negative pledge in favor of the lenders, in respect of proceeds which will be received by some of the Company’s subsidiaries, as defined in the agreements.

Major events constituting ground for demanding immediate repayment - the immediate repayment of the loans can be demanded in severe cases of breach which were defined, mostly including failure to pay on time; breach of representations or material undertakings; insolvency; acquisition of control of the Company by unauthorized entities, as defined in the agreements.

Main financial covenants:

The Company’s total equity, as defined in the agreements, will not fall below, at any time, a total of NIS 1,000,000 thousand;

The result obtained by dividing the net financial debt ratio by net cap, on a standalone basis (as defined in the agreement), will not exceed 70% during two consecutive quarters;

The result obtained by dividing the net financial debt ratio by operating profit for debt service (EBITDA), on a consolidated basis, will not exceed 18 during two consecutive quarters;

The equity to total balance sheet ratio, on a standalone basis in the Company’s separate financial information, as defined in the agreements, will not fall below 20% during two consecutive quarters; In case of a breach of the covenants, or a reduction of the rating (beyond a reduction of 2 notches below the Company’s current debt rating) will result in the activation of a mechanism for gradually increasing the interest rate, up to a cumulative limit of 1.25%, in respect of all of the breaches cumulatively.

As of December 31, 2023, the Company is in compliance with all of the financial covenants as stated above.

Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current tax assets (liabilities):
Current tax assets	$ 3,316	$ 286
Current tax liabilities	(10,565)	(6,225)
Total current tax assets (liabilities)	(7,249)	(5,939)
Non-current tax assets (liabilities):
Deferred tax assets	9,134	4,683
Deferred tax liabilities	(44,941)	(14,133)
Total non-current tax assets (liabilities)	$ (35,807)	$ (9,450)	$ 9,453

Investments in Investee Entities (Narrative) (Details) - Clenera Llc [Member] - USD ($) $ in Millions		12 Months Ended
	Aug. 02, 2021	Dec. 31, 2023	Dec. 31, 2022
Disclosure of information about consolidated structured entities [line items]
Percentage of voting equity interests acquired	90.10%
Maximum Company Value In Acquisition Transaction	$ 433.0
Percentage Of Minority Stake Maintained By Two Founders	9.90%
Performance Based Contingent Consideration Under Earn Out Revaluation		$ 28.8	$ 10.3
Liability in respect of put option		5.9	1.7
Change in value of project due to date of commercial operation		$ 34.7	$ 12.0
Percentage of earn out payment	39.00%
Tenure and provision of services	3 years

Guarantees, Engagements and Charges (Narrative) (Details) ₪ / shares in Units, $ / shares in Units, ₪ in Thousands, kr in Thousands, € in Millions, дин in Millions, Ft in Millions										1 Months Ended																12 Months Ended
	Dec. 07, 2023	Oct. 02, 2023	Sep. 06, 2023	Jul. 07, 2022	Jul. 03, 2022	Mar. 06, 2022 ILS (₪) ₪ / shares	Mar. 06, 2022 USD ($)	Jan. 02, 2022 USD ($)	Jul. 05, 2018	Jan. 31, 2024	Dec. 31, 2023 USD ($)	Nov. 20, 2023	Sep. 30, 2023	Feb. 28, 2023 USD ($)	Dec. 30, 2022 USD ($)	Sep. 18, 2022	Aug. 16, 2022 ILS (₪) ₪ / shares	Aug. 16, 2022 USD ($)	Jun. 19, 2022	Mar. 27, 2022	Feb. 27, 2022	Jan. 26, 2022	Sep. 19, 2021 EUR (€)	Jun. 30, 2021	Mar. 31, 2018	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 ILS (₪)	Dec. 31, 2020 ILS (₪)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 HUF (Ft)	Dec. 31, 2023 ILS (₪)	Dec. 31, 2023 RSD (дин)	Dec. 31, 2023 SEK (kr)	Dec. 31, 2023 USD ($) $ / shares	Dec. 28, 2023 USD ($)	Nov. 29, 2023 USD ($)	Feb. 28, 2023 ₪ / shares shares	Dec. 31, 2022 USD ($)	Jun. 30, 2022 EUR (€)	Dec. 31, 2021 ILS (₪)	Dec. 31, 2020 SEK (kr)	Dec. 31, 2018 ILS (₪)
Guarantees contingent liabilities engagements and charges [Line Items]
Number of shares issued \| shares																																						2,042,935
Par value per share \| (per share)						₪ 0.1											₪ 0.1																		$ 0.1			₪ 18
Proceeds from issue of ordinary shares						₪ 228,900	$ 70,600,000										₪ 450,000	$ 137,500,000
Capacity Of First Part Of Project																						182 MW
Capacity Of Battery Based Electricity Storage Systems								23MW
Purchase Consideration								$ 290,000,000
Definitive Construction Facility Agreement Value																																					$ 211,000,000
Performance Guarantees For Projects In United States [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Performance Guarantee																																			$ 121,800,000				$ 236,600,000
Financial Guarantees																														$ 80,000,000					8,500,000				$ 69,300,000
Bank Guarantees For Lease Agreements Of Halutziot, Kramim Enlight And Kidmat Zvi Projects [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Bank Guarantee \| ₪																												₪ 2,200
Performance Guarantee For First Competitive Process For Production Of Electricity Using Photovoltaic Technology [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Expected Production Of Electricity Using Photovoltaic Technology																													48MW
Performance Guarantee \| ₪																																									₪ 28,800
Performance Guarantee For Second Competitive Process For Production Of Electricity Using Photovoltaic Technology [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Performance Guarantee \| ₪																																									49,200
Guarantee For Receiving License From Electricity Authority [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value \| ₪																																₪ 2,000											₪ 2,000
Guarantee For Receiving Competitive Process For Dual Use Facilities [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value \| ₪																																4,500
Guarantees Towards Financing Agreements For Gecama Project In Spain [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value \| €																										€ 9.0
Financial Guarantee To System Administrator Noga [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value \| ₪																																38,000
Picasso Wind Project In Sweden [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Production Licensed Capacity																								116 MW
Advance Payment On Account Of Share Purchases \| €																							€ 1.0
Hedged Electricity Production Percentage	50.00%																						31.00%					81.00%
Weighted Average Price In Hedge Transaction																							weighted price of EUR 63 MWh, throughout the agreement period
Number of wind turbines																								27
Bjorn Project In Sweden [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Production Licensed Capacity																			372MW
Mivtachim And Talmei Bilu [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value \| ₪																																									2,900
Pupin Wind Project In Serbia [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Production Licensed Capacity																										94 MW	94 MW
Guarantee Value																																₪ 4,080	дин 19.2
Contract For Differences Agreement Term		15-year
Contract For Differences Base Rate Per Megawatts		EUR 68.88 per MWh
Contract For Differences Project Output Linked To Eurostat Consumer Price Index Percentage		72.00%
Raaba Acdc Kft [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Ppa Linked Consumer Price Index Team													15 years
Apex Pv Project In Usa [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Total Investment In Project																																			127,000,000
Non-current portion of non-current borrowings																																			116,000,000
Agreement Period																										20 years	20 years
Borrowings, maturity																										25 years	25 years
Debt Service Coverage Ratio																										1.2	1.2
Haro Solar 3 S.l Project [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value \| €																										€ 4.6														€ 3.9
Gecama Hybrid [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value \| kr																																		kr 7,000
Atrisco Ess Project [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value																																				$ 350,000,000
Pv And Storage Projects In Israel [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value																																			$ 23,600,000
Bottom of range [member] \| Apex Pv Project In Usa [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Borrowings, interest rate																										0.60%					0.60%	0.60%	0.60%	0.60%	0.60%
Borrowings, maturity																										6	6
Top of range [member] \| Apex Pv Project In Usa [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Borrowings, interest rate																										1.00%					1.00%	1.00%	1.00%	1.00%	1.00%
Borrowings, maturity																										25	25
Nasdaq IPO
Guarantees contingent liabilities engagements and charges [Line Items]
Proceeds from issue of ordinary shares														$ 290,000
Power Purchase Agreements [Member] \| Selac Wind Project In Kosovo
Guarantees contingent liabilities engagements and charges [Line Items]
Production Licensed Capacity																									105MW
Proportion of ownership interest in subsidiary																										60.00%	60.00%
Number Of Total Turbines																					27
Period Of Project Revenues Guaranteed Through Power Purchase Agreement At Fixed Price																					12 years
Purchase Consideration																										€ 6.5	$ 7,200,000
Power Purchase Agreements [Member] \| Payment First Milestones [Member] \| Bjorn Project In Sweden [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Agreement Period																			10 years
Increased Electricity Project Production																			22.00%
Power Purchase Agreements [Member] \| Payment Second Milestones [Member] \| Bjorn Project In Sweden [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Agreement Period																			years 1-5
Increased Electricity Project Production																			70.00%
Electricity Project Production																			50.00%
Power Purchase Agreements [Member] \| Payment Third Milestones [Member] \| Bjorn Project In Sweden [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Agreement Period																			years 6-10
Increased Electricity Project Production																			22.00%
Electricity Project Production																			50.00%
Renewable Energy Sources In Croatia [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Aggregate Capacity					525MW
Cumulative Capacity Of Solar Project					386MW
Cumulative Capacity Of Wind Project					139 MW
Power Purchase Agreement For Atrisco Solar Project [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Period Of Fixed Tariff				20 years
Purchase Consideration											$ 395,000,000
Non-current portion of non-current borrowings \| €																										€ 107.0
Definitive Construction Facility Agreement Value																																			$ 300,000,000
Amortization Period											23 years
Mini-perm Term											5 years
Tax Equity Financing																																			$ 198,000,000
Power Purchase Agreement For Atrisco Solar Project [Member] \| Bottom of range [member]
Guarantees contingent liabilities engagements and charges [Line Items]
Solar Project Capacity Under Evaluation																600MWh
Borrowings, interest rate																										5.40%					5.40%	5.40%	5.40%	5.40%	5.40%
Power Purchase Price Percentage				24.00%
Power Purchase Agreement For Atrisco Solar Project [Member] \| Top of range [member]
Guarantees contingent liabilities engagements and charges [Line Items]
Solar Project Capacity Under Evaluation																1,200MWh
Borrowings, interest rate																										5.90%					5.90%	5.90%	5.90%	5.90%	5.90%
Power Purchase Price Percentage				26.00%
Haluziot Project [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value \| ₪																																									1,000
Tranche Iii Projects [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value																																			$ 54,000,000
Financing Agreement For Picasso Project [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value																															Ft 325											kr 17,280
Power Purchase Agreement With Amdocs [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Power Purchase Agreement Extended Term																										12 years	12 years
Expected Energy Consumption Under Power Purchase Agreement																										100.00%	100.00%
Power Purchase Agreement With Applied Materials Israel [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Power Purchase Agreement Extended Term																										15 years	15 years
Country Acers Power Purchase Agreements [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Cumulative Capacity In Ac Terms												344MW
Cumulative Capacity In Dc Terms															392 MW
Electricity Storage Capacity												688 MWh
Solar Energy Selling Term												30-year
Solar Energy Storage Term												20-year
Emek Habacha Wind Energy Ltd [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Tariff For Sale																										10.25 USD cent	10.25 USD cent
Tariff for sale (NIS)																										37.82 Agorot	37.82 Agorot
Guaranteed Tariff Period																				20 years
Number of wind turbines																				34
Bank Guarantee \| ₪																																₪ 4,270
Aggregate Capacity																				109MW
Guarantee Value \| ₪																																									₪ 3,900
Emek Habacha Wind Energy Ltd [Member] \| Bank Guarantees Towards Israel Land Administration [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value \| ₪																												₪ 3,900
Emek Habacha Wind Energy Ltd [Member] \| Bank Guarantees Towards Netivei Israel And Israel Land Authority [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Guarantee Value \| ₪																													₪ 1,700
Clenera Holdings Llc [Member] \| Coggon Solar Pv Project In United States [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Percentage of voting equity interests acquired																						100.00%
Infrastructure Maintenance Agreement Period																				20 years
Clenera Holdings Llc [Member] \| Bottom of range [member] \| Coggon Solar Pv Project In United States [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Percentage Of Total Investment Cost As Project Finance																						75.00%
Clenera Holdings Llc [Member] \| Top of range [member] \| Coggon Solar Pv Project In United States [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Percentage Of Total Investment Cost As Project Finance																						80.00%
Clenera Holdings Llc [Member] \| Binding Agreement [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Aggregate Capacity															1.3GW
Electricity Storage Capacity															4.1GWh
Initial Payment Of Binding Agreement For Purchase Of Additional Solar And Energy Storage Portfolio															$ 51,000,000
Success Based Payment In Cumulative Scope															$ 52,000,000
Gecama Wind Energy Project In Spain [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Production Licensed Capacity									329MW
Hedged Electricity Production Percentage										60.00%																55.00%	55.00%
Weighted Average Price In Hedge Transaction										weighted average price of EUR 99.39 MWh																EUR 76.09 MWh to EUR 86.63MWh	EUR 76.09 MWh to EUR 86.63MWh
Electra Power [Member]
Guarantees contingent liabilities engagements and charges [Line Items]
Proportion of ownership interest in subsidiary			35.00%
Expected Energy Consumption Under Power Purchase Agreement			65.00%
Additional Proportion Of Ownership Interest In Subsidiary			5.00%

Balances and Transactions with Related Parties (Details 1) - Gilad Yavetz [Member]
Annual_Bonus in Thousands

12 Months Ended

Dec. 31, 2023

ILS (₪)

Annual_Bonus

Dec. 31, 2023

USD ($)

Annual_Bonus

Two Thousands Twenty One Effective Beginning From Date Of Meetings [Member]

Disclosure of transactions between related parties [line items]

Number Of Annual Bonus Salaries Subject To Fulfillment Of Targets

₪ 86,600

^[1],[2]

$ 26,800

^[1],[2]

^[2]

Two Thousands Twenty One Additional Special Compensation [Member]

Disclosure of transactions between related parties [line items]

Two Thousands Twenty Two [Member]

₪ 150,000

$ 46,500

Disclosure of transactions between related parties [line items]

Number Of Annual Bonus Salaries Subject To Fulfillment Of Targets

₪ 95,000

$ 28,300

^[2]

Two Thousands Twenty Three [Member]

Disclosure of transactions between related parties [line items]

Number Of Annual Bonus Salaries Subject To Fulfillment Of Targets

₪ 105,000

$ 29,800

^[2]

[1]	Represents the average salary for 2021.
[2]	The bonus amount may reach a level of 125% (i.e., above the foregoing salaries limit), subject to excellence targets which will be defined.

Fixed Assets (Details 2) $ in Thousands	12 Months Ended
Fixed Assets (Details 2) $ in Thousands	Dec. 31, 2023 USD ($) MWp	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Depreciated cost as of December 31, 2022	$ 1,954	$ 1,705	$ 1,054
Wind farms [Member] \| Ewk [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Country	Serbia
Status	2019
Installed capacity \| MWp	105
Effective holding rate	50.10%
Depreciated cost as of December 31, 2022	$ 143,000
Wind farms [Member] \| Lukovac [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Country	Croatia
Status	2018
Installed capacity \| MWp	49
Effective holding rate	50.10%
Depreciated cost as of December 31, 2022	$ 50,000
Wind farms [Member] \| Sowi Member [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Country	Kosovo
Status	2021
Installed capacity \| MWp	105
Effective holding rate	60.00%
Depreciated cost as of December 31, 2022	$ 136,000
Wind farms [Member] \| Picasso [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Country	Sweden
Status	2021
Installed capacity \| MWp	113
Effective holding rate	68.80%
Depreciated cost as of December 31, 2022	$ 141,000
Wind farms [Member] \| Emek Habacha [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Country	Israel
Status	2022
Installed capacity \| MWp	109
Effective holding rate	40.85%
Depreciated cost as of December 31, 2022	$ 192,000
Wind farms [Member] \| Ruach Beresheet [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Country	Israel
Status	2023
Installed capacity \| MWp	189
Effective holding rate	54.00%
Depreciated cost as of December 31, 2022	$ 377,000
Wind farms [Member] \| Gecama [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Country	Spain
Status	2022
Installed capacity \| MWp	329
Effective holding rate	72.00%
Depreciated cost as of December 31, 2022	$ 340,000
Wind farms [Member] \| Björnberget [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Country	Sweden
Status	2023
Installed capacity \| MWp	372
Effective holding rate	55.18%
Depreciated cost as of December 31, 2022	$ 390,000

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash and cash equivalents [abstract]
Balances with banks	$ 387,891	$ 129,792
Short-term deposits, classified as cash equivalents	15,914	64,077
Total cash and cash equivalents	$ 403,805	$ 193,869	$ 265,933	$ 99,330

Share Capital (Details)	Dec. 31, 2023 ₪ / shares shares	Dec. 31, 2023 $ / shares shares	Feb. 28, 2023 ₪ / shares	Dec. 31, 2022 ₪ / shares shares	Aug. 16, 2022 ₪ / shares	Mar. 06, 2022 ₪ / shares
Disclosure of classes of share capital [line items]
Par value per share \| (per share)		$ 0.1	₪ 18		₪ 0.1	₪ 0.1
Ordinary shares [member]
Disclosure of classes of share capital [line items]
Number of shares authorised \| shares	180,000,000	180,000,000		180,000,000
Par value per share \| ₪ / shares	₪ 0.1			₪ 0.1

Financial Instruments (Details 10) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Financial Assets [Abstract]
Contracts in respect of forward transactions	$ 171	$ 1,493
Other Non Current Financial Assets [Abstract]
Non Current Assets Interest Rate Swaps	63,208	89,143
Assets	4,633,921	3,533,367
Other Current Financial Liabilities [Abstract]
Transactions to peg electricity prices swap (CFD differences contract)	(11,384)	(50,255)
Current financial liabilities at fair value through profit or loss [abstract]
Performance-based contingent consideration (“Earn Out”)	(22,941)	(52,972)
Non-current financial liabilities at fair value through profit or loss [abstract]
Liabilities	(3,197,964)	(2,483,333)
Other Financial Instruments [Member]
Other Financial Assets [Abstract]
Contracts in respect of forward transactions	171	1,493
Interest Rate Swaps Current	805
Other Non Current Financial Assets [Abstract]
Loans To Non Controlling Interests	4,834	5,253
Transactions to peg electricity prices swap (CFD differences contract)	(11,384)	0
Non Current Assets Interest Rate Swaps	63,208	89,143
Assets	80,403	95,889
Other Current Financial Liabilities [Abstract]
Transactions to peg electricity prices swap (CFD differences contract)	0	(50,255)
Interest rate swaps	(154)	0
lease back liability	(1,070)	0
Current financial liabilities at fair value through profit or loss [abstract]
Performance-based contingent consideration (“Earn Out”)	(13,860)	(35,282)
Liability in respect of deferred consideration arrangement	(180)	(167)
Other Non Current Financial Liabilities [Abstract]
Interest rate swaps	(7,868)	0
Deal contingent hedge	(5,539)	0
lease back liability	(48,613)	0
Non-current financial liabilities at fair value through profit or loss [abstract]
Liability in respect of deferred consideration arrangement	(2,411)	(2,584)
Performance-based contingent consideration (“Earn Out”) as well as the founder’s put option	(32,113)	(45,484)
Liabilities	$ (111,808)	$ (133,772)

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2023 shares
Entity Addresses [Line Items]
Entity Registrant Name	Enlight Renewable Energy Ltd.
Entity Central Index Key	0001922641
Document Type	20-F
Document Period End Date	Dec. 31, 2023
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity Common Stock, Shares Outstanding	117,962,614
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	L3
ICFR Auditor Attestation Flag	false
Entity File Number	001-41613
Entity Address, Address Line One	13 Amal St.
Entity Address, Address Line Two	Afek Industrial Park
Entity Address, City or Town	Rosh Ha’ayin
Entity Address, Postal Zip Code	4809249
Entity Address, Country	IL
Title of 12(b) Security	Ordinary shares, NIS 0.1 par value per share
Trading Symbol	ENLT
Security Exchange Name	NASDAQ
Document Accounting Standard	International Financial Reporting Standards
Document Registration Statement	false
Auditor Firm ID	1057
Auditor Location	Tel Aviv, Israel
Auditor Name	Somekh Chaikin
Document Financial Statement Error Correction [Flag]	false
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	13 Amal St.
Entity Address, Address Line Two	Afek Industrial Park
Entity Address, City or Town	Rosh Ha’ayin
Entity Address, Postal Zip Code	4809249
Entity Address, Country	IL
Contact Personnel Name	Nir Yehuda
City Area Code	972
Local Phone Number	(3) 900-8710
Contact Personnel Email Address	nir@enlightenergy.co.il

Material Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Disclosure Of Significant Accounting Policies [Abstract]

Foreign currency

(1)

Functional currency and presentation currency

(2)

Translation of transactions in currencies other than the functional currency:

(3)

Method for recording exchange differences

Exchange differences are classified under profit and loss in the items for finance income and expenses.

(4)

Translation of financial statements of investees whose functional currency is different from the Company’s functional currency

(5)

Hedge of net investment in foreign operation

Basis of consolidation

(1)

Business combinations

(2)

Goodwill

(3)

Issuance of put option to non-controlling interests

(4)

Acquisition of property company

Classification of interest paid, dividends paid and interest and dividends received in the statement of cash flows

Fixed assets

(1)

General

Fixed assets are tangible items which are held for the purpose of use in the production or provision of goods or services, which are expected to be used in more than one period.

Fixed asset items include photovoltaic, storage and wind energy facilities for production of electricity, when those systems are not covered under IFRIC 12 and other equipment.

(2)

Subsequent costs

(3)

Depreciation of fixed assets

The useful lifetimes, depreciation rates and depreciation methods used in calculating depreciation are as follows:

	Useful lifetime	Depreciation rates	Depreciation method
Wind farms	25-30 years	3.33%-4%	Straight line
Photovoltaic systems	30-35 years	2.86%-3.33%	Straight line
Automatic cleaning systems	20 years	5%	Straight line
Others	3-14 years	7%-33.33%	Straight line

The asset’s depreciation method, useful lifetime and residual value are reviewed by Company management at the end of each fiscal year. Changes are treated as prospective changes in estimate.

(4)

Borrowing costs

A qualifying asset is an asset regarding which a significant period of time is necessary in order to prepare it for its intended use, or for its sale.

(A)

(B)

(5)

Liability in respect of the costs of dismantling and removal of the facility and restoring the site where the facility is located

Deferred costs in respect of projects

Service concession arrangements

The treatment in the Company’s books in respect of the foregoing facilities is as follows -

•

The value of the construction services is determined according to the construction costs, plus the standard construction margin, according to the Company’s estimate.

•

The value of the operating services is determined according to the operating costs, plus the standard margin, according to the Company’s estimate.

For details regarding the timing of recognition of revenue from the provision of services, see section M(2) below.

For details regarding the impairment of financial assets, see section I(4) below.

With respect of the change in the treatment of “Haluziot” facility see Note 8.

Intangible assets

Concession rights

Goodwill

In subsequent periods, goodwill is measured at cost after deducting accumulated impairment losses.

Impairment of non-financial assets

Financial assets

(1)

General

Financial assets are recognized in the statement of financial position when the Group becomes a party to the instrument’s contractual terms.

(2)

Financial assets measured at fair value

(3)

Financial assets measured at amortized cost

Debt instruments are measured at amortized cost upon the fulfillment of the following two conditions:

•

The Group’s business model is to hold the assets with the aim of collecting contractual cash flows, and

•

The contractual terms of the asset establish precise dates when the contractual cash flows will be received which constitute principal and interest payments only.

(4)

Impairment of financial assets

Financial liabilities and equity instruments which were issued by the Group

(1)

Classification as a financial liability or as an equity instrument

(2)

Financial liabilities

Financial liabilities are presented and measured according to the following classification:

•

Financial liabilities at fair value through profit or loss (derivatives not designated in hedge accounting relationship).

•

Financial liabilities at amortized cost.

Financial liabilities at amortized cost:

(3)

Debentures convertible into Company shares

(4)

Capital notes

(5)

Deferred borrowing costs

Derivative financial instruments and hedge accounting

Tax equity partnership

Another structure of Tax Equity is the Flip Point. As of December 31, 2023, the company has no projects that have used this structure.

Revenue recognition

Revenue from contracts with customers is recognized in the statement of income when (or insofar as) the control of the asset is transferred to the customer.

Presented below are the specific criteria regarding revenue recognition, which must be fulfilled in order to recognize revenue:

(1)

Revenues from the sale of electricity

(2)

Revenues from operation of facilities (service concession arrangements)

Distinction between “contract assets” and “receivables”

(3)

Revenues from construction services

(4)

Revenues from management or development fees

Share-based payment transactions

In transactions when a subsidiary grants to its employees' rights in the parent Company’s equity instruments, the Group treats the grant as an equity-settled share‑based payment transaction.

Income taxes

(1)

General

(2)

Current taxes

(3)

Deferred taxes

(4)

Uncertain tax positions

Depreciation and amortization

Post-employment benefits

Contingent consideration as part of a business combination for services to be provided by employees to the company are measured in accordance with IAS19 employee benefits.

Consolidated Statements of Income and Other Comprehensive Income - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Profit or loss [abstract]

Revenues

$ 255,702

$ 192,172

$ 102,461

Cost of sales

(52,794)

(40,438)

(21,777)

(63,849)

(40,563)

(19,446)

Gross profit

139,059

111,171

61,238

General and administrative expenses

(33,303)

(28,739)

(15,569)

Development expenses

(6,347)

(5,587)

(4,716)

Transaction costs in respect of acquisition of activity in the United States

(7,331)

Other income

58,734

13,767

778

Total Other Operating Income Expense

19,084

(20,559)

(26,838)

Operating profit

158,143

90,612

34,400

Finance income

36,799

23,341

30,333

Finance expenses

(68,143)

(62,591)

(37,175)

Total finance expenses, net

(31,344)

(39,250)

(6,842)

Profit before tax and equity loss

126,799

51,362

27,558

Share of losses of equity accounted investees

(330)

(306)

(189)

Profit before income taxes

126,469

51,056

27,369

Taxes on income

(28,428)

(12,943)

(5,694)

Profit for the year

98,041

38,113

21,675

Amounts which will be classified in the future under profit or loss, net of tax:

Foreign currency translation differences for foreign operations

53,663

78,177

(67,305)

Effective portion of changes in fair value of cash flow hedges, net

15,929

59,892

(9,168)

Other comprehensive income (loss) item that will not be transfer to profit or loss:

Total other comprehensive income (loss) for the year

(41,678)

(112,158)

29,510

27,914

25,911

(46,963)

Non-controlling interests

125,955

64,024

(25,288)

Profit for the year attributed to:

Owners of the Company

70,924

24,749

11,217

27,117

13,364

10,458

Comprehensive income (loss) for the year attributed to:

98,041

38,113

21,675

Owners of the Company

92,183

45,859

(25,748)

Non-controlling interests

33,772

18,165

460

Earnings per ordinary share (in USD) with a par value of NIS 0.1, attributable to owners of the parent Company:

$ 125,955

$ 64,024

$ (25,288)

Basic earnings per share

$ 0.61

$ 0.25

$ 0.12

Diluted earnings per share

$ 0.57

$ 0.25

$ 0.12

Weighted average of share capital used in the calculation of earnings:

Basic per share

^[1]

115,721,346

97,335,870

93,749,219

Diluted per share

^[1]

123,861,293

99,978,133

98,108,669

[1]	The number of ordinary shares is after giving effect to the Reverse Share Split. See also Note 16

Investments in Investee Entities (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of information about consolidated structured entities [abstract]

Disclosure of information about consolidated structured entities

Entity name	Country of incorporation	Effective stake in equity interests consolidated entity
		As of December 31
		2023		2022
		%		%
Eshkol Havatzelet - Halutziot - Enlight L.P. (hereinafter: “Halutziot”)	Israel		90		90
Mivtachim Green Energies Ltd. (hereinafter: “Mivtachim”)	Israel		100		100
Talmei Bilu Green Energies Ltd. (hereinafter: “Talmei Bilu”)	Israel		100		100
Eshkol Ela - Kramim - Enlight L.P. (hereinafter: “Kramim”)	Israel		100		100
Eshkol Brosh - Idan - Enlight L.P. (hereinafter: “Idan”)	Israel		100		100
Eshkol Zayit - Zayit Yarok - Enlight L.P. (hereinafter: “Zayit Yarok”)	Israel		100		100
Peirot HaGolan - Enlight L.P., Eshkol Gefen - Barbur - Enlight L.P., Sde Nehemia - Enlight L.P. (hereinafter: “Peirot HaGolan”, “Barbur”, “Sde Nehemia”, altogether “Meduim rooftops”)	Israel		51-100		51-100
Emek HaBacha Wind Energy Ltd. (hereinafter: “Emek HaBacha”)	Israel		40.85		40.85
Enlight Kramim L.P., Orsol Energy 3 (A.A.) L.P., Enlight Kidmat Zvi L.P., Enlight - Eshkol Dekel L.P. (altogether hereinafter: “Sunlight 1”)	Israel		50.1-100		50.1-100
Enlight Beit Shikma L.P., Enlight Beit HaShita Solar Energy, L.P. (all together hereinafter: “Sunlight 2”)	Israel		74-100		74-100
Dorot sun L.P., Talmei Yafe Sun L.P. (hereinafter: “Dorot” and “Talmei Yafe” respectively)	Israel		-		50
Ruach Beresheet L.P. (hereinafter: “Ruach Beresheet”)	Israel		54		54
Enlight Sde Nitzan L.P., Enlight Ein Habesor L.P., Enlight Maccabi L.P. (altogether hereinafter: "Storage 1")	Israel		50.1-100		50.1-100
Enlight Maccabi 2 L.P., Enlight Revivim Ein Gedi L.P., Orsan Energy 3 L.P., A.N. Faran Solar L.P., Enlight Reim Renewable Energy L.P., A.N Mahanim L.P. (altogether hereinafter: "Storage 2")	Israel		50.1-100		50.1-100
Enlight Finance L.P.	Israel		100		-
Tullynamoyle Wind Farm 3 Limited (hereinafter: “Tullynamoyle”)	Ireland		50.1		50.1
Vjetroelektrana Lukovac d.o.o (hereinafter: “Lukovac”)	Croatia		50.1		50.1
EW-K-Wind d.o.o (hereinafter: “EWK”)	Serbia		50.1		50.1
Megujulohaz kft, Raaba Green kft (alltogether hereinafter: “Attila”)	Hungary		50.1		50.1
Rabba ACDC KFT (hereinafter: “Raaba ACDC”)	Hungary		100		100
Rabba Flow KFT (hereinafter: " Raaba Flow")	Hungary		100		100
SOWI Kosovo LLC (hereinafter: “SOWI”)	Kosovo		60		48
Vindpark Malarberget I Norberg AB (hereinafter: “Picasso”)	Sweden		68.8		68.8
Generacion Eolica Castilla La Mancha Sl (hereinafter: “Gecama”)	Spain		72		72
Björnberget Vindkraft AB (R) (hereinafter: “Bjornberget”)	Sweden		55.18		55.18
Enlight K2-Wind doo Belgrade-Novi Belgrade ((hereinafter: "Pupin")	Serbia		100		16.53
Clēnera LLC	USA		90.1		90.1

Disclosure of subsidiary entities in which the non-controlling interests are material

	As of December 31, 2023												For the year ended December 31, 2023
Partnership / investee	Rate of ownership rights held by non-controlling interests %		Balance of non-controlling interests		Current assets		Non-current assets		Current liabilities		Non-current liabilities		Revenues		Profit		Profit attributed to non-controlling interests		Cash flows from operating activities		Cash flows from investing activities			Cash flows from financing activities			Total change in cash and cash equivalents
			USD in thousands

Co-Op (holding Lukovac and EWK)		49.9		35,556		26,611		229,483		20,632		170,832		49,211		19,946		8,304		29,451		(130	)		(28,064	)		1,257

	As of December 31, 2022												For the year ended December 31, 2022
Partnership / investee	Rate of ownership rights held by non-controlling interests %		Balance of non-controlling interests		Current assets		Non-current assets		Current liabilities		Non-current liabilities		Revenues		Profit		Profit attributed to non-controlling interests		Cash flows from operating activities		Cash flows from investing activities			Cash flows from financing activities			Total change in cash and cash equivalents
			USD in thousands

Co-Op (holding Lukovac and EWK)		49.90		26,276		21,511		230,604		18,345		181,112		40,348		13,875		3,542		26,998		(911	)		(20,133	)		5,954

Danuba Power (holding SOWI)		52		25,792		20,362		134,658		11,252		94,168		23,718		7,323		3,808		11,857		(28,775	)		19,144			2,226

The Iberian Wind (holding Gecama)		28.01		56,786		48,514		412,951		36,803		222,372		43,512		21,026		5,902		22,915		(108,038	)		106,344			21,221

	As of December 31, 2021												For the year ended December 31, 2021
Partnership / investee	Rate of ownership rights held by non-controlling interests %		Balance of non-controlling interests		Current assets		Non-current assets		Current liabilities		Non-current liabilities		Revenues		Profit (loss)			Profit (loss) attributed to non-controlling interests			Cash flows from operating activities			Cash flows from investing activities			Cash flows from financing activities			Total change in cash and cash equivalents
			USD in thousands

Co-Op (holding Lukovac and EWK)		49.9		19,196		17,002		252,630		17,359		213,806		49,510		17,354			5,911			29,673			1,297			(30,708	)		262

The Nordic Wind (holding Picasso)		31.18		21,184		18,354		179,603		20,017		110,002		11,757		6,017			1,876			(3,839	)		5,817			1,084			3,062

Danuba Power (holding SOWI)		52		23,487		12,135		139,701		20,392		86,277		-		2,277			1,184			3,093			(62,746	)		63,838			4,185

Bjornberget		49		55,144		34,008		203,728		15,419		109,778		-		(72	)		(35	)		(118	)		(75,037	)		103,552			28,397

Consolidated Statements of Income and Other Comprehensive Income (Parentheticals)	Dec. 31, 2023 $ / shares	Feb. 28, 2023 ₪ / shares	Aug. 16, 2022 ₪ / shares	Mar. 06, 2022 ₪ / shares
Profit or loss [abstract]
Par value per share \| (per share)	$ 0.1	₪ 18	₪ 0.1	₪ 0.1

Share-Based Payment (Narrative) (Details) shares in Thousands, $ in Thousands				1 Months Ended						12 Months Ended
	Aug. 22, 2021 Share $ / shares	Apr. 12, 2020 shares	Sep. 12, 2018 shares	Jan. 31, 2024 Share ₪ / shares	Sep. 30, 2022 shares	Jun. 28, 2022 shares	Sep. 30, 2021 shares	Nov. 28, 2019 shares	Oct. 28, 2018 shares	Dec. 31, 2023 Share USD ($) ₪ / shares	Dec. 31, 2022 USD ($) ₪ / shares	Dec. 31, 2018 USD ($)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement										50% of the options will vest 24 months after the grant date, 25% of the options will vest 36 months after the grant date, and 25% of the options will vest 48 months after the grant date.
Number of options \| $										10,193,577
Number of options expired/forfeited \| Share										875,000
Gilad Yavetz [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement			The options’ vesting period will be distributed over 4 years, whereby 18% of the options will vest one year after the grant date, 25% will vest on a quarterly basis throughout the second year, 30% will vest on a quarterly basis throughout the third year, and 27% will vest on a quarterly basis throughout the fourth year.
Number of options	500,000											990,000
Exercise price of options \| $ / shares	$ 71.89
Zafrir Yoeli [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Non Marketable And Non Transferable Options \| shares					240,000
Allocated Options To Employees Dated 12.09.2018 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options \| $										1,350,000
Number of options expired/forfeited \| Share										0
Exercise price of options \| ₪ / shares										₪ 19.61
Allocated Options To Employees Dated 12.09.2018 [Member] \| Mr. Yair Seroussi [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Non Marketable And Non Transferable Options \| shares			360,000
Description of vesting requirements for share-based payment arrangement			The options’ vesting period will be distributed over 4 years, on a quarterly basis.
Allocated Options To Employees Dated 12.09.2018 [Member] \| Gilad Yavetz [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Non Marketable And Non Transferable Options \| shares			990,000
Allocated Options To Employees Dated 28.10.2018 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options \| $										1,602,000
Number of options expired/forfeited \| Share										0
Exercise price of options \| ₪ / shares										₪ 19.95
Allocated Options To Employees Dated 28.10.2018 [Member] \| Zafrir Yoeli [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Non Marketable And Non Transferable Options \| shares									1,602,000
Description of vesting requirements for share-based payment arrangement									The options’ vesting period will be distributed over 4 years, whereby 18% of the options will vest one year after the grant date, 25% will vest on a quarterly basis throughout the second year, 30% will vest on a quarterly basis throughout the third year, and 27% will vest on a quarterly basis throughout the fourth year.
Allocated Options To Employees Dated 28.11.2019 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options \| $										110,000
Number of options expired/forfeited \| Share										40,000
Exercise price of options \| ₪ / shares										₪ 41.57
Allocated Options To Employees Dated 28.11.2019 [Member] \| VP officer [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Non Marketable And Non Transferable Options \| shares								100,000
Allocated Options To Employees Dated 12.04.2020 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options \| $										70,000
Number of options expired/forfeited \| Share										0
Exercise price of options \| ₪ / shares										₪ 41.1
Allocated Options To Employees Dated 12.04.2020 [Member] \| VP officer [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Non Marketable And Non Transferable Options \| shares		70,000
Description of vesting requirements for share-based payment arrangement		The options’ vesting period will be distributed over 4 years, whereby 50% of the options will vest two years after the grant date, 25% will vest three years after the grant date, and 25% will vest four years after the grant date. For details regarding the exercise price, see the above table.
Allocated Options To Employees Dated 30.09.2021 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options \| $										674,000
Number of options expired/forfeited \| Share										195,000
Exercise price of options \| ₪ / shares										₪ 69.76
Allocated Options To Employees Dated 30.09.2021 [Member] \| VP officer [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Description of vesting requirements for share-based payment arrangement								The options are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, whereby 50% of the options will vest two years after the grant date, 25% will vest three years after the grant date, and 25% will vest four years after the grant date.
Allocated Options To Employees Dated 30.09.2021 [Member] \| Gilad Yavetz, Zafrir Yoeli And Amit Paz [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Non Marketable And Non Transferable Options \| shares							1,182,000
Description of vesting requirements for share-based payment arrangement							The options are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, whereby 25% of the options will vest one year after the grant date, 25% will vest on a quarterly basis throughout the second year, 25-40% will vest on a quarterly basis throughout the third year, and 10-25% will vest on a quarterly basis throughout the fourth year. For details regarding the exercise price, see the above table.
Allocated Options To Employees Dated Two Zero [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options \| $										60,000
Exercise price of options \| ₪ / shares										₪ 70.9
Allocated Options To Employees Dated Two Zero [Member] \| VP officer [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Non Marketable And Non Transferable Options \| shares							780,000
Description of vesting requirements for share-based payment arrangement							The options’ vesting period will be distributed over 4 years, whereby 25% of the options will vest one year after the grant date, 25-30% will vest after the second year, 25-35% will vest after the third year, and 10-25% will vest after the fourth year.
Allocated Options To Employees Dated 28.06.2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options \| $										100,000	100,000
Number of options expired/forfeited \| Share										0
Exercise price of options \| ₪ / shares										₪ 68.64	₪ 68.64
Allocated Options To Employees Dated 28.06.2022 [Member] \| VP officer [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Non Marketable And Non Transferable Options \| shares						100,000
Description of vesting requirements for share-based payment arrangement						The options are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, whereby 25% of the options will vest one year after the grant date, 25% will vest two years after the grant date, 35% will vest three years after the grant date, and 15% will vest four years after the grant date.
Allocated Options To Employees Dated 24.04.2023 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options \| $										220,000
Number of options expired/forfeited \| Share										0
Exercise price of options \| ₪ / shares										₪ 61.52
Allocated Options To Employees Dated 24.04.2023 [Member] \| VP officer [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Non Marketable And Non Transferable Options \| shares						220,000
Description of vesting requirements for share-based payment arrangement						The options are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, whereby 25% of the options will vest one year after the grant date, 25% will vest two years after the grant date, 35% will vest three years after the grant date, and 15% will vest four years after the grant date.
Allocated Options To Employees Dated 18.12.2023 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options \| $										146,427
Number of options expired/forfeited \| Share										0
Exercise price of options \| ₪ / shares										₪ 62.81
Allocated Options To Employees Dated 18.12.2023 [Member] \| VP officer [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Non Marketable And Non Transferable Options \| shares						146,427
Description of vesting requirements for share-based payment arrangement						The options are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, whereby 25% of the options will vest one year after the grant date, 25% will vest two years after the grant date, 25% will vest three years after the grant date, and 25% will vest four years after the grant date.
Restricted stock units (RSUs) [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options \| Share				731,164
Ordinary shares issue price per share \| ₪ / shares				₪ 0.1
Vesting period				4 years
Award granted to employees on cashless basis [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options \| Share				188,892
Exercise price of options \| ₪ / shares				₪ 68.04

Contract Assets in respect of Concession Arrangements for the Construction and Operation of Photovoltaic Systems (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) MWh kWh	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Disclosure Of Detailed Information About Contract Assets [Line Items]
Contract assets	$ 99,416	$ 106,774	$ 287,042
Peirot HaGolan [Member]
Disclosure Of Detailed Information About Contract Assets [Line Items]
Total capacity in MW \| MWh	1.5
Stake in the project	51.00%
Tariff approval for the facility (agorot per kWh) \| kWh	53.99
Rate of return on the contract asset	5.75
Contract assets	$ 2,704
Expiry date of the contract	30/06/2035
Sde Nehemia [Member]
Disclosure Of Detailed Information About Contract Assets [Line Items]
Total capacity in MW \| MWh	0.63
Stake in the project	100.00%
Tariff approval for the facility (agorot per kWh) \| kWh	53.99
Rate of return on the contract asset	5.75
Contract assets	$ 870
Expiry date of the contract	31/03/2035
Barbur [Member]
Disclosure Of Detailed Information About Contract Assets [Line Items]
Total capacity in MW \| MWh	0.5
Stake in the project	51.00%
Tariff approval for the facility (agorot per kWh) \| kWh	53.99
Rate of return on the contract asset	5.75
Contract assets	$ 680
Expiry date of the contract	31/03/2035
Talmei Bilu [Member]
Disclosure Of Detailed Information About Contract Assets [Line Items]
Total capacity in MW \| MWh	10
Stake in the project	100.00%
Tariff approval for the facility (agorot per kWh) \| kWh	102.46
Rate of return on the contract asset	6.5
Contract assets	$ 34,062
Expiry date of the contract	30/09/2033
Mivtachim [Member]
Disclosure Of Detailed Information About Contract Assets [Line Items]
Total capacity in MW \| MWh	10
Stake in the project	100.00%
Tariff approval for the facility (agorot per kWh) \| kWh	130.39
Rate of return on the contract asset	8
Contract assets	$ 40,411
Expiry date of the contract	30/09/2033
Kramim [Member]
Disclosure Of Detailed Information About Contract Assets [Line Items]
Total capacity in MW \| MWh	5
Stake in the project	100.00%
Tariff approval for the facility (agorot per kWh) \| kWh	96.31
Rate of return on the contract asset	6
Contract assets	$ 13,170
Expiry date of the contract	31/12/2033
Idan [Member]
Disclosure Of Detailed Information About Contract Assets [Line Items]
Total capacity in MW \| MWh	3
Stake in the project	100.00%
Tariff approval for the facility (agorot per kWh) \| kWh	96.31
Rate of return on the contract asset	6
Contract assets	$ 7,519
Expiry date of the contract	30/09/2033

Loans from banks and other financial institutions (Details 1) € in Thousands, ₪ in Thousands, Ft in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 HUF (Ft)	Dec. 31, 2023 ILS (₪)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 HUF (Ft)	Dec. 31, 2022 ILS (₪)	Dec. 31, 2022 USD ($)
Mivtachim And Talmei Bilu [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	Bank Leumi Le-Israel Ltd. and entities of Menorah Group and Amitim Pension Fund
Credit Facility			₪ 356,000	$ 98,000,000
Date Financing Provided	December 2020
Borrowings			₪ 300,300	83,000,000			₪ 320,200	$ 91,000,000
Amortization Schedule	Spitzer amortization table comprised of quarterly payments
Debt Period	Throughout the entire period until the expiration date of the permanent electricity production license, approximately 13 years.
Stated Annual Interest Rate	Interest of approximately 0.77%, index-linked
Debt Service Reserve				$ 0
Adscr Default	1.05	1.05	1.05	1.05
L L C R Default	1.05	1.05	1.05	1.05
Fulfillment Of Financial Covenants	As of the balance sheet date, the companies fulfilled the foregoing financial covenants
Collateral	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, and cross-support between the project corporations Mivtachim, Talmei Bilu, Halutziot, Kramim and Idan, in respect of the debt service.
Halutziot [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	Bank Leumi Le-Israel Ltd. and entities of Menorah Group and Amitim Pension Fund
Credit Facility			₪ 552,000	$ 152,000,000
Date Financing Provided	December 2020
Borrowings			₪ 552,000	152,000,000			576,800	164,000,000
Amortization Schedule	Spitzer amortization table comprised of quarterly payments
Debt Period	Throughout the entire period until the expiration date of the permanent electricity production license, approximately 15 years.
Stated Annual Interest Rate	Interest of approximately 0.88%, index-linked
Debt Service Reserve				$ 0
Adscr Default	1.05	1.05	1.05	1.05
L L C R Default	1.05	1.05	1.05	1.05
Fulfillment Of Financial Covenants	As of the balance sheet date, the partnership fulfilled the foregoing financial covenants
Collateral	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, and cross-support between the project corporations Mivtachim, Talmei Bilu, Halutziot, Kramim and Idan, in respect of the debt service.
Kramim And Idan [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	Bank Leumi Le-Israel Ltd. and entities of Menorah Group and Amitim Pension Fund
Credit Facility			₪ 107,000	$ 30,000,000
Date Financing Provided	December 2020
Borrowings			₪ 93,600	26,000,000			99,100	28,000,000
Amortization Schedule	Spitzer amortization table comprised of quarterly payments
Debt Period	Throughout the entire period until the expiration date of the permanent electricity production license, approximately 13 years.
Stated Annual Interest Rate	Interest of approximately 0.8%, index-linked
Debt Service Reserve				$ 0
Adscr Default	1.05	1.05	1.05	1.05
L L C R Default	1.05	1.05	1.05	1.05
Fulfillment Of Financial Covenants	As of the balance sheet date, the partnerships fulfilled the foregoing financial covenants
Collateral	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, and cross-support between the project corporations Mivtachim, Talmei Bilu, Halutziot, Kramim and Idan, in respect of the debt service.
Medium Rooftops [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	Institutional entities of Clal Insurance Group
Credit Facility			₪ 15,000	$ 4,000,000
Date Financing Provided	January 2019
Borrowings			12,000	3,000,000			12,600	4,000,000
Amortization Schedule	Spitzer amortization table comprised of quarterly payments
Debt Period	Approximately 15 years
Stated Annual Interest Rate	Interest of approximately 2.2%, index-linked
Debt Service Reserve			₪ 800	$ 220,000
Adscr Default	1.07	1.07	1.07	1.07
L L C R Default	1.12	1.12	1.12	1.12
Fulfillment Of Financial Covenants	As of the balance sheet date, the partnerships fulfilled the foregoing financial covenants
Collateral	Charge on the partnership’s interests in the projects, on the project partnership’s assets, right to proceeds from the sale of electricity, the project partnership’s land rights, insurance, agreements vis-à-vis contractors and collateral from contractors thereunder, the rights of the partnership’s partners to receive profits, etc. Backing between the Company’s concatenated interests in the project partnerships of each group of projects.
Tariff Tender Projects Sunlight 1 [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	Institutional entities of Clal Insurance Group
Credit Facility			₪ 160,000	$ 44,000,000
Date Financing Provided	March 2018
Borrowings			76,000	22,000,000			146,500	42,000,000
Amortization Schedule	Spitzer amortization table, quarterly repayments.
Debt Period	Construction period and another approximately 22 years
Stated Annual Interest Rate	interest within the range of 2.6%-3%, CPI-linked
Debt Service Reserve			₪ 6,000	$ 2,000,000
Adscr Default	1,070.00	1,070.00	1,070.00	1,070.00
L L C R Default	1,120	1,120	1,120	1,120
Fulfillment Of Financial Covenants	As of the balance sheet date, the partnerships fulfilled the foregoing financial covenants
Collateral	Charge on the partnership’s interests in the projects, charge on the project partnership’s assets, right to proceeds from the sale of electricity, the project partnership’s land rights, insurance, agreements vis-à-vis contractors and collateral from contractors thereunder, the rights of the partnership’s partners to receive profits, etc. Backing between the Company’s concatenated interests in the project partnerships of each group of projects.
Emek Habacha [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	Bank Hapoalim Ltd. in collaboration with Phoenix and Harel groups
Credit Facility			₪ 576,000	$ 159,000,000
Date Financing Provided	November 2018
Borrowings			₪ 584,500	161,000,000			589,700	168,000,000
Amortization Schedule	Spitzer amortization table, quarterly repayments.
Debt Period	Construction period and another approximately 18 years.
Stated Annual Interest Rate	The construction period - base interest () plus a margin of 3.3%, CPI-linkedThe operation period - base interest () plus a margin of 2.65%, CPI-linked
Debt Service Reserve				$ 0
Adscr Default	1,050.00	1,050.00	1,050.00	1,050.00
L L C R Default	1,050.00	1,050.00	1,050.00	1,050.00
Fulfillment Of Financial Covenants	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required
Collateral	Charge on the tariff and conditional license, charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, etc.
Tariff Tender Projects Sunlight 2 And Dekel [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	Institutional entities of Clal Insurance Group
Credit Facility			₪ 70,000	$ 19,000,000
Date Financing Provided	December 2019
Borrowings			48,800	13,000,000			49,300	14,000,000
Amortization Schedule	Spitzer amortization table, quarterly repayments
Debt Period	Construction period and another approximately 22 years
Stated Annual Interest Rate	Base interest (*) plus a margin of 2.15%, CPI-linked
Debt Service Reserve			₪ 2,000	$ 1,000,000
Adscr Default	1,070.00	1,070.00	1,070.00	1,070.00
L L C R Default	1,120	1,120	1,120	1,120
Fulfillment Of Financial Covenants	As of the balance sheet date, the partnerships fulfilled the foregoing financial covenants except in the case of one project, in connection with which the Company has received a waiver letter from the applicable bank stating that the lender waives, inter alia, its right to demand immediate repayment.
Collateral	Charge on the partnership’s interests in the projects, charge on the project partnership’s assets, right to proceeds from the sale of electricity, the project partnership’s land rights, insurance, agreements vis-à-vis contractors and collateral from contractors thereunder, the rights of the partnership’s partners to receive profits, etc. Backing between the Company’s concatenated interests in the project partnerships of each group of projects.
Tullynamoyle [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Credit Facility	€ 14,300			$ 15,820,000
Date Financing Provided	August 2020
Borrowings	€ 11,000			$ 12,160,000	€ 11,860			12,650,000
Amortization Schedule	The loan will be repaid in 50 quarterly payments
Debt Period	12.5 years
Stated Annual Interest Rate	90% of the loan bears interest at a rate of 3.47% and 10% of the loan bears interest of 3M Euribor plus a margin of 2%
Adscr Default	1,050.00	1,050.00	1,050.00	1,050.00
Fulfillment Of Financial Covenants	Non-fulfillment, receipt of a waiver letter from the bank stating that the lender waives, inter alia, its right to demand immediate repayment.
Collateral	The project company pledged in favor of the bank all of the equipment in the project, its rights by virtue of power purchase agreements, its rights in the licenses, its rights in the insurance policy, and its other rights in the project. The Company’s entire stake in the project company was also pledged in favor of the bank.
Lukovac [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	ERSTE and PBZ, of INTESA Group
Credit Facility	€ 48,800			$ 54,000,000
Date Financing Provided	December 2020
Borrowings	€ 37,000			41,000,000	41,000			43,900,000
Amortization Schedule	The loan will be repaid in 46 quarterly payments
Debt Period	11.5 years
Stated Annual Interest Rate	81% of the loan bears interest at a rate of 3.5% and 19% of the loan bears interest of 3M Euribor plus a margin in the range of 3-3.5
Debt Service Reserve			₪ 2,800	$ 3,100,000
Adscr Default	1,100	1,100	1,100	1,100
Fulfillment Of Financial Covenants	As of the balance sheet date, the Company fulfilled the foregoing financial covenants
Collateral	The project company will pledge in favor of the bank the project equipment, power purchase agreements, its rights in licenses, the insurance policy, and its other rights in the project.
Ewk [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	ERSTE, EBRD and Novi Sad
Credit Facility	€ 139,000			$ 153,700,000
Date Financing Provided	December 2017
Borrowings	€ 84,000			93,000,000	93,600			99,900,000
Amortization Schedule	The loan will be repaid in 23 semi-annual payments
Debt Period	Construction period and another 11.5 years
Stated Annual Interest Rate	EUR 83 million of the loan bears interest at a rate of 2.3%,EUR 40 million of the loan bears interest at a rate of 3.95%,And EUR 16 million of the loan bears interest in the range of 4.65%-4.83%.
Debt Service Reserve			₪ 7,700	8,500,000
Fulfillment Of Financial Covenants	As of the balance sheet date, the Company fulfilled the foregoing financial covenants
Collateral	The project company will pledge in favor of the bank the project company’s assets, cash flow rights, insurance policies, collateral from EPC contractors, etc.
Storage One Plus Two Through Enlight Finance Lp [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	Bank Hapoalim B.M.
Credit Facility			812,000	224,000,000
Date Financing Provided	December 2023
Borrowings			₪ 513,100	141,000,000				0
Amortization Schedule	The loan will be repaid in 12 semi-annual payments ending with a final repayment of the remaining loan balance.
Debt Period	20-year amortization period and a 6-year mini-perm term
Stated Annual Interest Rate	Interest at a rate of 2.6% above Israeli nominal government bond yields
Debt Service Reserve				$ 0
Adscr Default	1,050.00	1,050.00	1,050.00	1,050.00
Fulfillment Of Financial Covenants	-
Collateral	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, and cross-support between the projects in the cluster, in respect of the debt service. Twelve months after the last COD, a debt sizing test will be carried out. If the debt sizing test does not meet the required ratio, the Company may be required to inject equity in order to reduce debt amount so it meets the debt sizing required ratio.
Meg And Raaba [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	ERSTE
Credit Facility		Ft 14,000		$ 40,600,000
Date Financing Provided	January 2019
Borrowings		11,760		34,000,000		Ft 12,660		33,700,000
Amortization Schedule	Quarterly repayments, spitzer amortization table with lower repayments in the first two years
Debt Period	Construction period and another 17 years
Stated Annual Interest Rate	30% of the loan bears interest at a rate of 4.05% And 70% of the loan bears interest at a rate of approximately 6.3%.
Debt Service Reserve		Ft 414,000		$ 1,200,000
Fulfillment Of Financial Covenants	As of the balance sheet date, the Company fulfilled the foregoing financial covenants
Collateral	Charge on the tariff and the electricity production license, charge on the project companies’ assets, cash flow rights, land rights, insurance. collateral from the project contractors, etc.) The financing of the portfolio of projects is applied and evaluated on a consolidated basis.
Meg And Raaba [Member] \| Bottom of range [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Adscr Default	1.05	1.05	1.05	1.05
SOWI [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	ERSTE, NLB group and EBRD
Credit Facility	€ 115,000			$ 127,200,000
Date Financing Provided	January 2020
Borrowings	€ 89,600			99,000,000	96,200			102,600,000
Amortization Schedule	Semi-annual repayments, Spitzer amortization table
Debt Period	Construction period and another 11 years
Stated Annual Interest Rate	Approximately 50% of the loan bears interest at a rate of 1.9%, approximately 32% of the loan bears interest at a rate of approximately 4.1%and 18% of the loan bears Euribor plus a margin of 4%.
Debt Service Reserve	€ 9,600			$ 10,600,000
Adscr Default	1.05	1.05	1.05	1.05
Fulfillment Of Financial Covenants	As of the balance sheet date, the Company fulfilled the foregoing financial covenants
Collateral	Charge on the project company’s assets, cash flow rights, land rights, collateral from the project contractors, etc.
Picasso Wind Project In Sweden [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	Hamburg Commercial Bank
Credit Facility	€ 81,700			$ 90,400,000
Date Financing Provided	January 2020
Borrowings	€ 72,900			81,000,000	77,500			83,000,000
Amortization Schedule	Quarterly repayments, spitzer amortization table
Debt Period	Construction period and another 18 years
Stated Annual Interest Rate	Interest at a rate of 1.58% during the construction period and until December 31, 2029, and interest at a rate of 2.33% until the end of the loan period.
Debt Service Reserve				$ 0
Fulfillment Of Financial Covenants	As of the balance sheet date, the Company fulfilled the foregoing financial covenants
Collateral	Charge on the project company’s assets, cash flow rights, land rights, collateral from the project contractors, etc.
Picasso Wind Project In Sweden [Member] \| Bottom of range [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Adscr Default	1.05	1.05	1.05	1.05
Halutziot 2 [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	Bank Leumi Le-Israel Ltd.
Credit Facility			₪ 177,000	$ 49,000,000
Date Financing Provided	September 2022
Borrowings			₪ 177,000	49,000,000				0
Amortization Schedule	Spitzer amortization table comprised of quarterly payments
Debt Period	Construction period and another 22 years
Stated Annual Interest Rate	base interest plus a margin of 1.25%-2.2% CPI-linked
Debt Service Reserve				$ 0
Adscr Default	1.05	1.05	1.05	1.05
Fulfillment Of Financial Covenants	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required
Collateral	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project.
Ruach Beresheet [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	Bank Hapoalim Ltd., and in collaboration with entities from Migdal and Amitim Group
Credit Facility			₪ 1,170	$ 321,500,000
Date Financing Provided	July 2020
Borrowings			₪ 1,100	305,800,000			₪ 986,000	280,000,000
Amortization Schedule	Quarterly repayments, spitzer amortization table
Debt Period	Construction period and another approximately 19 years
Stated Annual Interest Rate	construction period - base interest() plus a margin of 2.5%-3%Operating period - base interest() plus a margin of 2.2%-2.7%
Debt Service Reserve				$ 0
Adscr Default				1,050.00
Fulfillment Of Financial Covenants	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required
Collateral	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, etc.
Gecama Project [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	Banco de Sabadell and Bankia
Credit Facility	€ 168,000			$ 185,800,000
Date Financing Provided	June 2020
Borrowings	€ 148,600			164,400,000	156,900			167,300,000
Amortization Schedule	Semi-annual repayments, Spitzer amortization table
Debt Period	Construction period and another approximately 14 years
Stated Annual Interest Rate	Base interest of Euribor plus a margin of 2.5%-3%. The company hedged 90% of the total base interest liability during the entire debt period of 13 years, beginning from the project’s date of initial operation.
Debt Service Reserve				$ 0
Adscr Default				1,050.00
Fulfillment Of Financial Covenants	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required
Collateral	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, etc.
Bjornberget Vindkraft Ab Project In Sweden [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	KFW IPEX-Bank and DekaBank, and the Swedish Export Credit Corporation (SEK).
Credit Facility	€ 207,000			$ 229,000,000
Date Financing Provided	May 2021
Borrowings		Ft 197,800		218,800,000	€ 128,700			137,300,000
Amortization Schedule	Semi-annual repayments, Spitzer amortization table
Debt Period	Construction period and another approximately 18 years
Stated Annual Interest Rate	Base interest of Euribor plus a margin of 1.75%. The company hedged approximately 79% of the total base interest liability during the entire debt period of 18 years, beginning from the project’s date of initial operation.
Debt Service Reserve				$ 0
Adscr Default				1,050.00
Fulfillment Of Financial Covenants	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required
Collateral	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, etc.
Apex [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Lender	Consortium of lenders led by HSBC Securities (USA) Inc.
Credit Facility				$ 303,000,000
Date Financing Provided	December 2023
Borrowings				212,200,000				$ 0
Amortization Schedule	Construction Loan - semi annual payments based on predetermined amortization schedule.
Debt Period	Construction period another approximately 23 years
Stated Annual Interest Rate	Secured Overnight Financing Rate (“SOFR”) with a margin of 1.5% during construction period and SOFR plus 1.75% during term loan period.
Debt Service Reserve				$ 0
Adscr Default				0
Fulfillment Of Financial Covenants	-
Collateral	Collateral on the SPV’s assets, cash flow rights, land rights, insurance, agreements, collateral from the project contractors, etc. Enlight Guarantee.

Debentures (Tables)

12 Months Ended

Dec. 31, 2023

Debentures [Abstract]

Disclosure of detailed information about debentures

	Current liabilities				Non-current liabilities				Total
	As of December 31				As of December 31				As of December 31
	2023		2022		2023		2022		2023		2022
	USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands
Debentures (Series E) (1.)		2,605		2,685		21,547		24,854		24,152		27,539
Debentures (Series F) (2.)		23,628		13,147		173,250		113,187		196,878		126,334
Debentures (Series C) (3.)		-		-		130,566		131,385		130,566		131,385
Debentures (Series D) (4.)		-		-		98,954		100,479		98,954		100,479

Total Debentures		26,233		15,832		424,317		369,905		450,550		385,737

Investments in Investee Entities (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Significant Investments In Subsidiaries Line Items
Balance of non-controlling interests	$ 267,198	$ 245,940
Current assets	664,645	423,704
Non-current assets	3,969,276	3,109,663
Current liabilities	583,292	385,349
Non-current liabilities	2,614,672	2,097,984
Revenue	255,702	192,172	$ 102,461
Profit (loss)	98,041	38,113	21,675
Profit (loss) attributed to non-controlling interests	27,117	13,364	10,458
Cash flows from operating activities	149,620	90,376	52,023
Cash flows from investing activities	(798,065)	(820,000)	(644,638)
Cash flows from financing activities	855,305	684,741	752,314
Total change in cash and cash equivalents	$ 206,860	$ (44,883)	$ 159,699
Co-Op
Disclosure Of Significant Investments In Subsidiaries Line Items
Rate of ownership rights held by non-controlling interests %	49.90%	49.90%	49.90%
Balance of non-controlling interests	$ 35,556	$ 26,276	$ 19,196
Current assets	26,611	21,511	17,002
Non-current assets	229,483	230,604	252,630
Current liabilities	20,632	18,345	17,359
Non-current liabilities	170,832	181,112	213,806
Revenue	49,211	40,348	49,510
Profit (loss)	19,946	13,875	17,354
Profit (loss) attributed to non-controlling interests	8,304	3,542	5,911
Cash flows from operating activities	29,451	26,998	29,673
Cash flows from investing activities	(130)	(911)	1,297
Cash flows from financing activities	(28,064)	(20,133)	(30,708)
Total change in cash and cash equivalents	$ 1,257	$ 5,954	$ 262
The Nordic Wind
Disclosure Of Significant Investments In Subsidiaries Line Items
Rate of ownership rights held by non-controlling interests %			31.18%
Balance of non-controlling interests			$ 21,184
Current assets			18,354
Non-current assets			179,603
Current liabilities			20,017
Non-current liabilities			110,002
Revenue			11,757
Profit (loss)			6,017
Profit (loss) attributed to non-controlling interests			1,876
Cash flows from operating activities			(3,839)
Cash flows from investing activities			5,817
Cash flows from financing activities			1,084
Total change in cash and cash equivalents			$ 3,062
The Iberian Wind
Disclosure Of Significant Investments In Subsidiaries Line Items
Rate of ownership rights held by non-controlling interests %		28.01%
Balance of non-controlling interests		$ 56,786
Current assets		48,514
Non-current assets		412,951
Current liabilities		36,803
Non-current liabilities		222,372
Revenue		43,512
Profit (loss)		21,026
Profit (loss) attributed to non-controlling interests		5,902
Cash flows from operating activities		22,915
Cash flows from investing activities		(108,038)
Cash flows from financing activities		106,344
Total change in cash and cash equivalents		$ 21,221
Danuba Power
Disclosure Of Significant Investments In Subsidiaries Line Items
Rate of ownership rights held by non-controlling interests %		52.00%	52.00%
Balance of non-controlling interests		$ 25,792	$ 23,487
Current assets		20,362	12,135
Non-current assets		134,658	139,701
Current liabilities		11,252	20,392
Non-current liabilities		94,168	86,277
Revenue		23,718	0
Profit (loss)		7,323	2,277
Profit (loss) attributed to non-controlling interests		3,808	1,184
Cash flows from operating activities		11,857	3,093
Cash flows from investing activities		(28,775)	(62,746)
Cash flows from financing activities		19,144	63,838
Total change in cash and cash equivalents		$ 2,226	$ 4,185
Bjornberget
Disclosure Of Significant Investments In Subsidiaries Line Items
Rate of ownership rights held by non-controlling interests %			49.00%
Balance of non-controlling interests			$ 55,144
Current assets			34,008
Non-current assets			203,728
Current liabilities			15,419
Non-current liabilities			109,778
Revenue			0
Profit (loss)			(72)
Profit (loss) attributed to non-controlling interests			(35)
Cash flows from operating activities			(118)
Cash flows from investing activities			(75,037)
Cash flows from financing activities			103,552
Total change in cash and cash equivalents			$ 28,397

Considerations Concerning the Adoption of the Accounting Policy and Key Factors of Uncertainty in Estimation

12 Months Ended

Dec. 31, 2023

Disclosure of changes in accounting estimates [abstract]

Considerations Concerning the Adoption of the Accounting Policy and Key Factors of Uncertainty in Estimation

Note 4 - Considerations Concerning the Adoption of the Accounting Policy and Key Factors of Uncertainty in Estimation

General

In the implementation of the Group’s accounting policy, as described in Note 2 above, Company management is required, in certain cases, to use extensive accounting judgment regarding estimates and assumptions in connection with the carrying values of assets and liabilities which are not necessarily available from other sources. These estimates and assumptions are based on past experience and on other factors considered relevant. Actual results may differ from these estimates.

The underlying estimates and assumptions are evaluated by management on an ongoing basis. Changes in accounting estimates are recognized only in the period when the change in estimate was made, if the change only affects that period, or are recognized in that period, and in future periods, when the change affects both the current period and the future periods.

Use of estimates and judgment

The preparation of financial statements in conformity with IFRS’s requires Company management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. It is hereby clarified that actual results may differ from these estimates.

In formulating the accounting estimates that are used in the preparation of the Group’s financial statements, Company management is required to make assumptions as to circumstances and events involving significant uncertainty. Company management prepares the estimates on the basis of past experience, various facts, external circumstances, and reasonable assumptions according to the pertinent circumstances of each estimate. The underlying estimates and assumptions are routinely reviewed. Changes in accounting estimates are recognized in the period in which the estimates were amended and in every affected future period.

The following pertains to critical considerations, except for those associated with estimates, which were made by management in the process of applying the Group’s accounting policy, and which have a significant effect on the amounts which were recognized in the financial statements.

Estimate	Main assumptions	Possible implications	Reference
Measurement of contingent consideration in respect of business combination	For the purpose of determining the contingent consideration, the Group estimates the amount of the projected future consideration according to the milestones which were determined in the purchase agreement.	Increase or decrease in profit or loss.	See Note 7A(1)
Recognition of project costs as assets	For the purpose of determining whether project costs can be classified as an asset, Group management conducts an assessment in which it evaluates whether the series of statutory permits, land ties, possibility for electricity connection, etc., in the project, lead to the conclusion that the project will produce economic benefits for the Company (in other words, whether the project is expected to reach completion of construction and commercial operation). When regulatory approvals are not expected to be obtained, the Company amortizes the development costs to the statement of income.	Amortization of development costs to the statement of income.	See Note 2E regarding deferred project costs.
Recoverable amount of a cash generating unit which includes goodwill	The determination of this estimate is based on discounted cash flow forecasts. The determination of cash flows is based on various assumptions regarding the results of the future operation of the cash generating unit.	Changes in estimates due to changes in these assumptions, or in the discount rate, could affect profit.	See Note 2H for details regarding the impairment of intangible assets

Earnings Per Share (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Profit attributable to the Company’s owners for the purpose of calculating basic earnings per share

$ 70,924

$ 24,749

$ 11,217

Weighted average of the number of ordinary shares used for the purpose of calculating basic earnings per share

^[1]

115,721,346

97,335,870

93,749,219

[1]	The number of ordinary shares is after giving effect to the Reverse Share Split. See also Note 16

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Income Taxes [Abstract]

Disclosure of detailed information about tax balances presented in the statement of financial position

	As of December 31
	2023			2022
	USD in thousands			USD in thousands
Current tax assets (liabilities):
Current tax assets		3,316			286
Current tax liabilities		(10,565	)		(6,225	)
Total current tax assets (liabilities)		(7,249	)		(5,939	)

Non-current tax assets (liabilities):
Deferred tax assets		9,134			4,683
Deferred tax liabilities		(44,941	)		(14,133	)
Total non-current tax assets (liabilities)		(35,807	)		(9,450	)

Disclosure of temporary difference, unused tax losses and unused tax credits

	Balance as of January 1 2023			Recognized in the statement of income			Other comprehensive income			Balance as of December 31 2023
	USD in thousands			USD in thousands			USD in thousands			USD in thousands
Temporary differences:
Fixed assets		(14,620	)		(1,465	)		421			(15,664	)
IFRS 16 – Leases		845			649			(19	)		1,475
Financial instruments		(5,556	)		468			(7,231	)		(12,319	)
Contractual asset in respect of concession arrangements		(16,723	)		1,042			508			(15,173	)
Contingent consideration		(1,584	)		(8,477	)		(35	)		(10,096	)
Others		(4,211	)		(3,458	)		(6,718	)		(14,387	)
Total		(41,849	)		(11,241	)		(13,074	)		(66,164	)

Unused losses and tax benefits:
Tax losses		32,399			(1,067	)		(975	)		30,357
		32,399			(1,067	)		(975	)		30,357

Total		(9,450	)		(12,308	)		(14,049	)		(35,807	)

	Balance as of January 1 2022			Recognized in the statement of income			Other comprehensive income			Balance as of December 31 2022
	USD in thousands			USD in thousands			USD in thousands			USD in thousands
Temporary differences:
Fixed assets		(7,227	)		(8,627	)		1,234			(14,620	)
IFRS 16 – Leases		1,389			(400	)		(144	)		845
Financial instruments		6,447			846			(12,849	)		(5,556	)
Contractual asset in respect of concession arrangements		(19,725	)		744			2,258			(16,723	)
Contingent consideration		574			(2,193	)		35			(1,584	)
Others		157			(3,422	)		(946	)		(4,211	)
Total		(18,385	)		(13,052	)		(10,412	)		(41,849	)

Unused losses and tax benefits:
Tax losses		27,838			8,170			(3,609	)		32,399
		27,838			8,170			(3,609	)		32,399

Total		9,453			(4,882	)		(14,021	)		(9,450	)

Disclosure of expenses (income) from income taxes which were recognized in the statement of income

	For the year ended December 31
	2023			2022			2021
	USD in thousands			USD in thousands			USD in thousands
Current taxes:
Current tax expenses		17,715			8,061			2,422
Prior year taxes		(1,595	)		-			-
Total current taxes		16,120			8,061			2,422

Deferred taxes:
Deferred tax expenses in respect of the creation and reversal of temporary differences		11,241			13,052			34
Income (expenses) from the creation of deferred taxes in respect of losses and unused tax benefits		1,067			(8,170	)		3,238
Total deferred taxes		12,308			4,882			3,272

Total expenses from income taxes		28,428			12,943			5,694

Disclosure of reconciliation between the theoretical tax on the pre-tax profit and the tax expense

	For the year ended December 31
	2023			2022			2021
	USD in thousands			USD in thousands			USD in thousands
Profit before income taxes from continuing operations		126,469			51,056			27,369
Primary tax rate of the Company		23	%		23	%		23	%
Tax calculated according to the Company’s primary tax rate		29,088			11,743			6,295

Additional tax (tax saving) in respect of:
No controlling share in the profits / losses of investee partnerships		(1,653	)		(896	)		(531	)
Different tax rate of foreign subsidiaries		(2,080	)		(1,644	)		(2,370	)
Non-deductible expenses		1,662			3,150			1,853
Exempt income		(1,282	)		(1,170	)		(354	)
Utilization of tax losses and benefits from prior years		924			310			179
Temporary difference in respect of subsidiaries for which deferred taxes were not recognized		3,433			1,270			631
Change in taxes in respect of previous years		(1,847	)		143			(77	)
Others		183			37			68
Total income taxes from continuing operations as presented in profit or loss		28,428			12,943			5,694

General (Details) - USD ($)

Dec. 31, 2023

Dec. 31, 2022

Consumer Price Index [Member]

Foreign Exchange Rates And Linkage Base [Line Items]

^[1]

113.7

110.1

Foreign Exchange Rates And Linkage Base [Line Items]

^[1]

3.30%

5.40%

EUR [Member]

1.006

1.066

Foreign Exchange Rates And Linkage Base [Line Items]

(5.60%)

(5.80%)

NIS [Member]

0.249

0.284

Foreign Exchange Rates And Linkage Base [Line Items]

(12.30%)

(11.80%)

HUF [Member]

0.0029

0.0027

Foreign Exchange Rates And Linkage Base [Line Items]

7.40%

(12.90%)

HRK [Member]

^[2]

0.142

Contract Assets In Respect Of Concession Arrangements For Construction And Operation Of Photovoltaic Systems [Abstract]

0.00%

^[2]

(5.30%)

[1]	Base: 2012 average = 100.
[2]	Following the change of currency in Croatia from HRK to EUR (effective from the beginning of 2023), the HRK currency is no longer active.

Loans from banks and other financial institutions (Details 2) Ft in Thousands, € in Millions, ₪ in Millions, $ in Millions	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 HUF (Ft)	Dec. 31, 2023 ILS (₪)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 ILS (₪)	Dec. 31, 2022 USD ($)
Ewk [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Borrowings	€ 84.0			$ 93.0	€ 93.6		$ 99.9
Bjornberget Vindkraft Ab Project In Sweden [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Borrowings		Ft 197,800		218.8	€ 128.7		137.3
Emek Habacha [Member]
Credit From Banking Corporations Financial Institutions And Other Credit Providers [Line Items]
Borrowings			₪ 584.5	$ 161.0		₪ 589.7	$ 168.0

Finance Expenses, Net (Details) - USD ($) $ in Thousands	12 Months Ended
Finance Expenses, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Finance Expenses Net Abstract [Abstract]
Interest expenses from project finance loans	$ 54,646	$ 52,416	$ 28,400
Interest expenses from corporate loans	9,750	78	0
Interest expenses from Debentures	13,191	13,098	9,143
Finance expenses in respect of contingent consideration arrangement	1,900	3,978	2,596
Interest expenses from non-controlling interests loans	2,187	1,381	1,157
Finance expenses from hedging transactions	3,098	973	0
Finance expenses in respect of lease liability	2,503	1,964	1,243
Exchange differences	0	617	2,702
Finance expenses from lease back liability	1,511	0	0
Others	2,298	1,248	1,078
Capitalized Cost Of Qualifying Assets	91,084	75,753	46,319
Amounts capitalized to the cost of qualifying assets	(22,941)	(13,162)	(9,144)
Finance expenses	$ 68,143	$ 62,591	$ 37,175

Contract Assets in respect of Concession Arrangements for the Construction and Operation of Photovoltaic Systems

12 Months Ended

Dec. 31, 2023

Contract Assets in respect of Concession Arrangements for the Construction and Operation of Photovoltaic Systems

Note 8 - Contract Assets in respect of Concession Arrangements for the Construction and Operation of Photovoltaic Systems

Project	Total capacity in MW		Stake in the project			Tariff approval for the facility (NIS 0.01 per kWh)		Rate of return on the contract asset	Contract asset as of December 31, 2023 (USD in thousands)		Expiry date of the contract
Peirot HaGolan		1.5		51	%		53.99	5.75% linked		2,704	30/06/2035
Sde Nehemia		0.63		100	%		53.99	5.75% linked		870	31/03/2035
Barbur		0.5		51	%		53.99	5.75% linked		680	31/03/2035
Talmei Bilu		10		100	%		102.46	6.5% linked		34,062	30/09/2033
Mivtachim		10		100	%		130.39	8% linked		40,411	30/09/2033
Kramim		5		100	%		96.31	6% linked		13,170	31/12/2033
Idan		3		100	%		96.31	6% linked		7,519	30/09/2033
Balance as of December 31, 2023										99,416

	2023			2022
	USD in thousands
Balance as of January 1		106,774			287,042
Repayment of contract asset under concession arrangements		(14,120	)		(17,579	)
Finance incomes		9,643			17,188
Reclassification from IFRIC 12 to a fixed asset (*)		-			(162,359	)
Translation differences		(2,881	)		(17,518	)
Balance as of December 31		99,416			106,774

(*)

Following the significant change to the terms of the concession arrangement with the state of Israel, which included the execution of significant technological changes to the Halutziot facility in the second quarter of 2022, and the expansion thereof in a manner which is expected to increase the capacity and effectiveness of production, the Company re-evaluated the application of IFRIC 12 (hereinafter: the “Interpretation”), and concluded that the facility no longer falls under the scope of that interpretation. As a result, beginning from the second quarter of 2022, the Halutziot facility will be accounted for as a fixed asset, at cost.

Cost of Sales (Tables)

12 Months Ended

Dec. 31, 2023

Cost Of Sales [Abstract]

Disclosure of detailed information about cost of sales

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands

Site maintenance		35,307		26,845		11,937
Payroll, salaries and associated expenses		6,646		6,408		2,823
Insurance		5,835		3,450		1,391
Municipal taxes		3,526		2,133		2,101
Lease		1,083		851		234
Expenses associated with facility construction services		397		751		3,291

Total		52,794		40,438		21,777

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Presentation of leases for lessee [abstract]

Disclosure of right-of-use assets composition

Composition

USD in thousands	Land			Offices and vehicles			Total

Balance as of January 1, 2023		93,547			2,968			96,515
Additions		25,122			998			26,120
Amortization of right-of-use assets		(4,765	)		(884	)		(5,649	)
Linkage to index		4,060			40			4,100
Sale of consolidated companies		(1,354	)		-			(1,354	)
Reserve for translation differences		1,670			(54	)		1,616
Balance as of December 31, 2023		118,280			3,068			121,348

Disclosure of effects on statements of income

USD in thousands Effects on the statements of income	For the year ended December 31, 2023

Interest expenses in respect of lease liability		(2,503	)
Expenses attributed to variable lease payments which were not included in measurement of lease liability		(1,083	)
Depreciation expenses		(3,819	)

Total		(7,405	)

Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of transactions between related parties [line items]
Other comprehensive income, net of tax, cash flow hedges	$ 15,929	$ 59,892	$ (9,168)
Lability In Respect Of Deferred Consideration Arrangement	2,591	2,750
Interest rate risk [member]
Disclosure of transactions between related parties [line items]
Other comprehensive income, net of tax, cash flow hedges	$ 23,380	$ 61,853

Share-Based Payment

12 Months Ended

Dec. 31, 2023

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Share-Based Payment

Note 18 - Share-Based Payment

Details of the plan to allocate options to Company employees:

Grant date	Number of offerees	Total number of options	Exercise price in NIS	Share price in NIS	Value of option in NIS	Value of option in USD	Number of options which were exercised as of the date of the financial report	Number of options which expired / were forfeited as of the date of the financial report	Expiration date of the options	Number of options remaining as of the date of the financial report
2/5/2018	6	310,000	18.40	18.05	7.70	2.24	228,564	36,250	2/5/2025	45,186
7/26/2018	2	80,000	19.08	18.38	8.35	2.30	40,000	-	7/26/2025	40,000
8/26/2018	5	200,000	18.75	18.85	8.63	2.37	114,069	30,000	8/26/2025	55,931
(A)(B)9/12/2018	2	1,350,000	19.61	19.05	8.55	2.38	373,228	-	9/12/2025	976,772
(B)10/28/2018	2	1,602,000	19.95	18.20	7.87	2.12	432,221	-	10/28/2025	1,169,779
11/1/2018	2	495,000	19.87	18.89	8.40	2.27	129,361	-	11/1/2025	365,639
4/4/2019	2	80,000	22.20	22.20	9.40	2.61	60,000	-	4/4/2026	20,000
5/27/2019	3	80,000	23.67	24.20	10.34	2.86	30,000	30,000	5/27/2026	20,000
11/28/2019	4	110,000	41.57	42.30	19.06	5.49	16,000	40,000	11/28/2026	54,000
(C)11/28/2019	1	100,000	41.97	42.30	18.00	5.19	-	-	11/28/2026	100,000
1/20/2020	20	271,500	44.68	49.10	19.70	5.70	49,500	59,250	1/20/2027	162,750
(D)4/12/2020	1	70,000	41.10	41.50	15.50	4.33	19,953	-	4/12/2027	50,047
5/17/2020	6	110,000	48.45	50.70	19.70	5.56	-	20,000	5/17/2027	90,000
7/23/2020	3	45,000	54.64	54.70	19.80	5.79	17,500	15,000	7/23/2027	12,500
10/13/2020	1	103,000	62.09	70.10	27.70	8.18	-	-	10/13/2027	103,000
11/10/2020	7	115,000	64.75	66.30	24.10	7.14	7,500	42,500	11/10/2027	65,000
5/25/2021	9	141,000	65.79	66.90	24.60	7.59	10,000	34,000	5/25/2028	97,000
9/30/2021	26	674,000	69.76	71.80	25.90	8.02	-	195,000	9/30/2028	479,000
9/30/2021	1	60,000	70.90	71.80	25.90	8.02	-		9/30/2028	60,000
(E)9/30/2021	4	1,182,000	71.80	71.80	25.90	8.02	-	240,000	9/30/2028	942,000
(F)9/30/2021	5	780,000	71.80	71.80	25.90	8.02	-	-	9/30/2028	780,000
10/31/2021	1	10,000	72.65	78.00	30.20	9.64	-	-	10/31/2028	10,000
2/8/2022	9	541,400	72.30	68.40	23.93	7.42	-	-	2/8/2029	541,400
2/13/2022	21	282,000	72.84	66.80	22.69	6.96	-	15,000	2/13/2029	267,000
4/17/2022	72	269,250	77.20	74.70	27.92	8.63	-	75,000	4/17/2029	194,250
(G)6/28/2022	1	100,000	68.64	69.60	28.14	8.19	-	-	6/28/2029	100,000
6/28/2022	9	146,000	63.93	69.60	29.53	8.59	-	-	6/28/2029	146,000
9/1/2022	10	97,000	79.65	81.60	33.82	10.05	-	-	9/1/2029	97,000
9/1/2022	1	10,000	81.43	81.60	33.15	9.85	-	-	9/1/2029	10,000
10/30/2022	1	25,000	78.19	74.20	29.10	8.24	-	-	10/30/2029	25,000
12/18/2022	9	126,000	74.66	74.00	30.26	8.79	-	-	12/18/2029	126,000
(J)3/14/2023	12	124,000	64.91	62.95	23.83	6.57	-	22,000	3/14/2030	102,000
(J)3/23/2023	37	114,000	60.32	62.50	24.73	6.85	-	21,000	3/23/2030	93,000
(H)(J)4/24/2023	2	220,000	61.52	59.10	23.63	6.45	-	-	4/24/2030	220,000
(J)5/25/2023	1	24,000	62.60	67.50	30.74	8.24	-	-	5/25/2030	24,000
(I)(J)12/18/2023	2	146,427	62.81	71.23	31.53	8.63	-	-	12/18/2030	146,427
Total		10,193,577					1,527,896	875,000		7,790,681

The valuation of the options was performed using the binomial model. The calculation of the benefit value included taking into account the share price, the exercise price, the risk-free interest rate and the expected lifetime of the option.

The options are convertible into ordinary shares of the company, NIS 0.1 par value each.

General description of the Company’s options:

In general, and in respect of the description of all of the allocations in this report, the options will be exercised in accordance with the cashless exercise mechanism, as specified in the options plan. Subject to the other terms of the options plan, eligibility will materialize for each of the aforementioned offerees to exercise the options in accordance with the vesting period as follows: 50% of the options will vest 24 months after the grant date, 25% of the options will vest 36 months after the grant date, and 25% of the options will vest 48 months after the grant date. In certain cases different vesting dates were determined, as specified below, and unless stated otherwise, the vesting dates are as stated in this paragraph. The options are subject to standard adjustments in accordance with the options plan, including, inter alia, in case of dividend distribution, and issuance of rights and bonus shares. All option allocations were performed based on the Company’s current options plan. In case of termination of employment, the offeree is given a limited period to exercise vested options only. In cases of termination of employment / activity in circumstances which were defined as severe, the Company will have the possibility to revoke rights.

Details regarding material allocations:

(A)

On September 12, 2018, the Company allocated 360,000 non-marketable and non-transferable options to the Company’s Chairman of the Board, Mr. Yair Seroussi, which are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, on a quarterly basis. For details regarding the exercise price, see the table presented above.

(B)

On September 12, 2018 and October 28, 2018, the Company allocated 990,000 non-marketable and non-transferable options to Gilad Yavetz, and 1,602,000 non-marketable and non-transferable options to Zafrir Yoeli and Amit Paz together.

The options are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, whereby 18% of the options will vest one year after the grant date, 25% will vest on a quarterly basis throughout the second year, 30% will vest on a quarterly basis throughout the third year, and 27% will vest on a quarterly basis throughout the fourth year. For details regarding the exercise price, see the above table.

(C)

On November 28, 2019, the Company performed a private allocation of 100,000 non-marketable and non-transferable options of the Company to a VP officer. The options are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, whereby 50% of the options will vest two years after the grant date, 25% will vest three years after the grant date, and 25% will vest four years after the grant date. For details regarding the exercise price, see the above table.

(D)

On April 12, 2020, the Company performed a private allocation of 70,000 non-marketable and non-transferable options of the Company to a VP officer. The options are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, whereby 50% of the options will vest two years after the grant date, 25% will vest three years after the grant date, and 25% will vest four years after the grant date. For details regarding the exercise price, see the above table.

(E)

On September 30, 2021, a the Company performed a private allocation of 1,182,000 non-marketable and non-transferable options of the Company to the three founders: Gilad Yavetz, Zafrir Yoeli and Amit Paz, and to the Chairman of the Board. The options are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, whereby 25% of the options will vest one year after the grant date, 25% will vest on a quarterly basis throughout the second year, 25-40% will vest on a quarterly basis throughout the third year, and 10-25% will vest on a quarterly basis throughout the fourth year. For details regarding the exercise price, see the above table.

On September 30, 2022, Yoeli Zafarir departed the company, and therefore 240,000 options that have not yet matured expired.

(F)

On September 30, 2021, the Company performed a private allocation of 780,000 non-marketable and non-transferable options of the Company to officers who are VP’s in the company. The options are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, whereby 25% of the options will vest one year after the grant date, 25-30% will vest after the second year, 25-35% will vest after the third year, and 10-25% will vest after the fourth year. For details regarding the exercise price, see the above table.

(G)

On June 28, 2022, the Company performed a private allocation of 100,000 non-marketable and non-transferable options of the Company to a VP officer. The options are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, whereby 25% of the options will vest one year after the grant date, 25% will vest two years after the grant date, 35% will vest three years after the grant date, and 15% will vest four years after the grant date. For details regarding the exercise price, see the above table.

(H)

On April 24, 2023, the Company performed a private allocation of 220,000 non-marketable and non-transferable options of the Company to officers who are VP’s in the Company. The options are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, whereby 25% of the options will vest one year after the grant date, 25% will vest two years after the grant date, 35% will vest three years after the grant date, and 15% will vest four years after the grant date. For details regarding the exercise price, see the above table.

(I)

On December 18, 2023, the Company performed a private allocation of 146,427 non-marketable and non-transferable options of the Company to officers who are VP’s in the Company. The options are exercisable on a cashless basis. The options’ vesting period will be distributed over 4 years, whereby 25% of the options will vest one year after the grant date, 25% will vest two years after the grant date, 25% will vest three years after the grant date, and 25% will vest four years after the grant date. For details regarding the exercise price, see the above table.

(J)

In 2023, options were granted to employees which are exercisable on a cashless basis.

The valuation of the options was performed using the binomial model.

(K)

In January 2024, 188,892 options were granted to employees which are exercisable on a cashless basis, and carry an exercise price of NIS 68.04.

(L)

In January 2024, 731,164 restricted stock units (RSUs) were granted to employees which upon fulfillment of the conditions and vesting dates, will entitle the offerees to receive ordinary shares of the company, worth 0.1 NIS each. Vesting period will be distributed equally and annually over 4 years.

Intangible Assets (Narrative) (Details)	Dec. 31, 2023
Top of range [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Discount rate applied to cash flow projections	8.75%

Guarantees, Engagements and Charges

12 Months Ended

Dec. 31, 2023

Guarantees, Contingent Liabilities, Engagements And Charges [Abstract]

Guarantees, Engagements and Charges

Note 29 - Guarantees, Engagements and Charges

Engagements

(1)

Nasdaq IPO

During February 2023, the Company completed an Initial Public Offering of 14,000,000 ordinary shares at $18 per share, on the Nasdaq Global Select Market (the: “Nasdaq IPO”). Shortly after the Nasdaq IPO, the Company completed an additional allocation of 2,042,935 ordinary shares at a price of $18 per share, in accordance with an option granted to the Nasdaq IPO’s underwriters. Accordingly, the total amount raised through the Nasdaq IPO amounts to approximately USD 290 million dollars in total. Starting from the completion of the Nasdaq IPO as mentioned the Company is dual listed on the Tel Aviv Stock Exchange (“TASE”) and the Nasdaq Global Select Market.

(2)

Emek HaBacha wind energy project in Israel - full commercial operation

On March 27, 2022, the Company reported the receipt of the permanent production license and the commencement of commercial operation of Emek HaBacha wind energy project that includes 34 wind turbines with a total capacity of approximately 109MW.

The project’s production tariff in 2023 is approximately 37.82 Agorot (approximately 10.25 USD cent) per kWh, which is subsequently linked, once per year, to the Israeli consumer price index, in accordance with the terms of the arrangement which applies in the segment. The guaranteed tariff period is for 20 years since the receipt of the production license.

(3)

Ruach Beresheet wind energy project in Israel – commercial operation

On June 12, 2023, the Company announced the successful commissioning of the first wind turbine at Ruach Beresheet project, while on October 13, 2023, the project fulfilled the conditions for commercial operation of 34 out of 39 project’s turbines, comprising a generation capacity of 180MW and began selling electricity. 3 out of the remaining 5 turbines operated on January 6, 2024, while the remaining 2 turbines are expected to be operational after the completion of final tests, raising capacity to 207 MW.

(4)

Selac wind energy project in Kosovo - full commercial operation and completion the purchasing of the project company

On February 27, 2022, approval was received from the Energy Regulatory Office (ERO) in Kosovo, for the full commercial operation of all sections of the project. The approval constitutes final approval for the receipt of the full tariff, in respect of the 27 turbines in total, with a total capacity of 105MW.

Throughout the first 12 years of the project, the project’s revenues are guaranteed through a power purchase agreement at a fixed price, and subsequently, during the remainder of the operating period, the electricity will be sold on the merchant market.

On December 31, 2023, the Company completed purchasing the project company “SOWI Kosovo LTD” for an amount of EUR 6.5 million (approximately USD 7.2 million), following the purchase the Company increased the holding in shares of the project company to 60%.

(5)

Gecama wind energy project in Spain – full commercial operation and transactions of hedging the electricity price

On June 26, 2022, Gecama project with a total capacity of approximately 329MW (hereinafter: “the Project”) received approval from the Spanish authorities for the operation of the first part of the project, with a capacity of 182 MW. The operation of the turbines, and the sale of the produced electricity, began immediately, and increased gradually, until full commercial operation is reached on August 2022.

The Company hedges the electricity prices in a CFD (Contract for Difference) format. For 2023 the Company hedged approximately 55% of its electricity production at a weighted average price between EUR 76.09 MWh to EUR 86.63MWh.

For 2024 the Company hedge approximately 60% of its forecasted electricity production at a weighted average price of EUR 99.39 MWh.

(6)

Picasso wind energy project in Sweden - full commercial operation

The Picasso project which is a wind energy project in Sweden and includes 27 wind turbines with a total capacity of approximately 116 MW, completed the connection of all of the turbines to the power grid in June 2021, and has been producing electricity in full commercial operation.

Signing of transaction to hedge the price of electricity

On September 19, 2021, the project company completed the signing of a transaction to hedge the electricity prices in the project vis-à-vis a leading European energy infrastructure company. The hedge transaction is implemented in a contract for difference (CFD) format, in respect of the quantity of electricity which, according to estimates, will constitute another approximately 31% of its total electricity production, in a manner which will set the total quantity hedged under contracts in the facility, until the end of 2022, at approximately 81%. The hedge transaction was executed at a weighted price of EUR 63 MWh, throughout the agreement period. As part of the hedge transaction, the Company provided a parent company guarantee to secure payment up to a total of EUR 1 million, out of the project company’s liabilities in the transaction.

On December 7, 2023, the project company has entered into an additional agreement for hedging the price of electricity produced in the project in which during 2024 the 50% of the production of the electricity which is not subject to PPA.

(7)

Bjornberget wind energy project in Sweden – update of the PPA agreement and commercial operation

On June 19, 2022, an update was signed with respect to the terms of the PPA agreement for Björnberget project with a total capacity of approximately 372MW, and which was originally signed in December 2020, vis-à-vis a Tier 1 corporation, to increase the price of the electricity which will be sold under the PPA, and to increase the proportion of sold electricity out of the project’s total production, as specified below:

The price of the electricity which will be sold under the agreement was increased by 22% throughout the entire period of the agreement (10 years).

The amount of electricity sold under the PPA during years 1-5 was increased to a rate of 70% of the total electricity which will be produced in the project, as compared with 50% in the original agreement.

During years 6-10 the scope of electricity will be sold 50% of production as initially signed, but the 22% price increase will apply, as stated above, to those years as well.

The remaining produced electricity is expected to be sold in the Nordic power market.

On October 2, 2022, the project was connected to the local power grid, and commercial operation and sale of electricity in the Nordic power market began gradually.

(8)

Pupin wind project in Serbia – Acquiring the full rights of the project and CFD agreement

Purchasing the full rights in the project

During the year the Company acquired the full rights in Pupin, wind project in Serbia with capacity of 94 MW and now owns 100% of the project after the completion of the acquisition.

Contract for differences (“CFD”) agreement

On October 2, 2023, the Company announced that following a tender process, it has been awarded a 15-year inflation-linked Contract for Differences for the Company’s Pupin wind farm in Serbia. The arrangement will be structured through a CFD mechanism in which the state-owned utility Elektroprivreda Srbije will secure a base rate of EUR 68.88 per MWh for 72% of the project’s output linked to Eurostat's Consumer Price Index. The remainder of the electricity produced will be sold on a merchant basis.

(9)

Raaba ACDC PV project in Hungary - Commercial operation

On August 2023, Raaba ACDC has achieved commercial operation. All the energy generated by the project will be sold under a PPA linked to the consumer price index for 15 years.

(10)

Purchase of solar and wind portfolio in Croatia

On July 3, 2022, the Company signed an agreement for the joint purchase and development of a portfolio of projects for the production of electricity from renewable energy sources in Croatia, which are in various stages, with an aggregate capacity of approximately 525MW (hereinafter: the “Portfolio” or the “Projects”), as specified below.

The portfolio is comprised of five projects in Croatia which are held through dedicated project companies, four of which are solar,in a cumulative scope of 386MW, and a wind project in a cumulative scope of 139 MW.

On July 10, 2022, the Company closed the transaction for the acquisition of the portfolio, and thereby completed the first milestone in the transaction. The entire stake was transferred to Enlight upon the payment of the first milestone, and against the provision of a company guarantee to secure the following milestones. The amount which was paid on that date for the shares, with respect to the first milestone, constitutes an immaterial part of the total consideration, and is an amount which is immaterial to the Company. Most of the consideration will be paid upon the completion of development, and obtaining all of the permits for RTB, thereby creating limited exposure for the Company in the initial stages.

(11)

Series of PV projects integrated with storage in Israel – commercial operation and financial closing

Following the announcements on winning in tenders 1 and 2 for establishments facilities for the production of electricity using photovoltaic technology with integrated storage capacity with cumulative capacity of 248MW and 474MWh of storage, on August 2, 2023 (hereinafter: “Solar + Storage Cluster”), the project “Sde Nitzan” with a total capacity of 23MW solar and 40MWh storage, commenced commercial operation and started generating electricity. In addition, on September 11, 2023, the project “Arad Valley 1” with a total capacity of 17MW solar and 31MWh storage, commenced commercial operation and started generating electricity too.

On November 29, 2023, Enlight Financing LP, a wholly owned limited partnership by the Company, entered into a definitive construction facility agreement with Bank Hapoalim. The facility totaling USD 211 million will be used to finance the construction of the Solar + Storage Cluster, whose total cost is expected to be USD 290 million. The Solar + Storage Financing has a 20-year amortization period and a 6-year mini-perm term, with an interest rate of 2.4% to 2.9% above Israeli nominal government bond yields.

(12)

A. Decision of the Electricity Authority in Israel regarding the regulation of the market model for production and storage facilities connected to the distribution grid

On September 7, 2022, the Electricity Authority published decision no. 63704 - “market model for production and storage facilities which are connected to or integrated into the distribution grid” (hereinafter: the “Decision”). This decision regulates the activity of production and storage facilities which are connected to or integrated into the distribution grid, and particularly the possibility for those facilities to sell electricity directly to holders of supply licenses (hereinafter: “private suppliers”). The decision also updates the regulation of the activity involving the sale of electricity to consumers through private suppliers. The arrangement will enter into effect on January 1, 2023, except for the possibility to attribute production facilities to private suppliers, which will enter into effect on January 1, 2024. Until the date when this possibility enters into effect, facilities which operate under the arrangement will be associated to a default supplier (the regional electricity distributor).

B. Enlight to supply renewable energy to Amdocs and Applied materials Israel

With continuance to the decision of the Electricity Authority in Israel regarding the regulation of the market model for production and storage facilities connected to the distribution grid, the Company has entered into a corporate power purchase agreement (hereinafter: “PPA”) with Amdocs Israel and Applied Materials Israel.

The PPA with Amdocs, which extends for 12 years, is expected to account for 100% of the energy consumption at Amdocs’ new innovative campus “Amdocs Park,”. The PPA with Applied Materials Israel extends for 15 years and will supply renewable energy to its Israeli operations, the agreement comes with an option to increase consumption volumes based on Applied Material Israel’s needs.

The electricity, which will be sold at a competitive price, will be sourced from Enlight’s solar and storage facilities (Solar + Storage Cluster).

(15)

Joint Venture with Electra Power for supplying clean energy directly to residential customers in Israel

On September 6, 2023, the Company and Electra Power announced on execution of a memorandum of understanding (hereinafter: “MOU”), outlining the formation of a joint venture to market and supply clean energy to residential consumers and small businesses in Israel.

As per the MOU, Electra Power will hold a 65% stake in the joint venture, with Enlight owning the remaining 35%. The JV will be jointly managed by both companies. Enlight will also have the option to increase its ownership by an additional 5%, contingent upon achieving certain future investment objectives. The parties have also committed to a minimum of renewable energy generation volume that each will contribute to marketing to the JV’s clients. The establishment of the partnership is subject to completion of definitive agreements and regulatory approval from the Israel Competition Authority.

On March 6, 2024, the joint venture agreement with Electra power was completed and signed by both parties.

(16)

Apex PV project in the USA – financial closing and full commercial operation

Apex is a PV project for the production of electricity, with a generation capacity of approximately 105MW (DC) located in Beaverhead County, Montana, USA. On August 4, 2023, the Project commenced commercial operation. The Project is contracted in a power purchase agreement (PPA) for a period of 20 years, Following the end of PPA term the project generated capacity will be offered on wholesale merchant market.

On September 11, 2022, the Company finalized financing of the project. The financing is implemented in two stages: financing for the construction period in an amount of approximately USD 116 million with an interest rate of 0.6%-1% over the base interest rate (SOFR), that was repaid at the end of the construction period through long term funding for the operating period. The long term financing provided by Huntington Bank. Net financing facility amounted to approximately USD 127 million, over a term of 25 years commencing on project’s commercial operation date, in a sale-lease back structure, inclusive of assignment of project tax benefits to the bank. The deal structure includes sale of project equipment to the bank at market value, and leasing it back in exchange of predetermined lease installments during the operating period. The Company has an early buy out option which was agreed in the sale-lease agreement.

Below are the main terms of the agreement:

Agreement term - 6-25 years, depends on the exercise of the company’s early buyout (EBO) option, as agreed in the sale-lease agreement.

Repayments - Semi-annual, based on a DSCR of 1.2.

Main events signifying a demand for immediate repayment - In case of severe breaches which were specified, primarily including a breach of material representations or undertakings, insolvency, a fundamental breach, or cancellation of one of the material project documents.

Main collateral - According to the standard conditions in sale-leaseback transactions, including cash flow rights, land rights, insurance policies, collateral from the project contractors, etc.

A limited company guarantee will also be provided to cover the project’s routine operating expenses and to secure the amount of the tax credit.

(17)

Atrisco PV project in the United States – financial closing and power purchase agreements

On July 7, 2022, the Company through its subsidiary Clēnera Holdings LLC, reached an agreement to amend power purchase and energy storage with utility in the State of New Mexico. The amendment increased the price of generated electricity and energy storage which will be produced by Atrisco solar project. Regulatory approval was also given for the amendment, and it thereby entered into effect.

The above amendment provides an increase of approximately 24% and 26% to power purchase price and energy storage payments respectively. The amendment also included an increase in the guarantees to a local utility – Public Company of New Mexico following the increase in the expected revenue.

During the first 20 years the electricity will be sold under the PPA, and in the subsequent years, the electricity will be sold under market (merchant) conditions.

On September 18, 2022, amendment was signed to duble the project’s storage component, from 600MWh to 1,200MWh. The amendment received regulatory approval and included an increase in guarantees provided to the Public Company of New Mexico, following the increase in the expected revenue.

During December 2023, the Company has entered into a definitive construction facility agreement with a consortium of lenders led by HSBC Securities (USA) Inc. The facility totaling $300 million will be used to finance the construction of Atrisco Solar, with total expected cost of $395 million. The financing is comprised of $107 million term loan and tax equity financing of $198 million provided by Bank of America, N.A. Both loans will be refinanced at project’s COD. The term loan is structured as a 5-year mini term with a 23-year underlying amortization profile and is subject to an interest rate range of 5.4%-5.9%.

(18)

Co Bar Solar PV project in the United States - Power purchase agreements

On September 22, 2021, and on July 31, 2023, the Company through a dedicated project company held by Clēnera, has completed signing of a fixed price power purchase agreement for a period of 20 years in respect to power generation and purchase of Co Bar Solar project with Salt River Project utility (“SRP”). SRP is contracted for nearly 800 MW (AC) – 1,000 MW (DC), or 1 gigawatt (GW) – of project generated capacity.

On August 30, 2023, the Company signed on an additional power purchase agreement with Arizona Public Services (APS), for 258 MW of solar and 824 MWh of battery storage.

(19)

Coggon Solar PV project in the United States - Obtaining all of the approvals for the construction

On January 26, 2022, the Company through a dedicated project company held by Clēnera, obtained all of the approvals for the commencement of construction (“RTB”, Ready to Build) in respect of the Coggon Solar project, including interconnection to the transmission grid, as well as a power purchase agreement in respect of all of the electricity which will be produced in the project, over a period of 20 years, at a fixed price.

The project, which is held 100% by Clēnera, is located in Iowa, USA, and is expected to produce electricity using photovoltaic technology with a capacity of approximately 120MW.

The Company is promoting an arrangement for the receipt of project finance in respect of the project, at a scope of approximately 75%-80% of the total investment cost, including the potential use of a tax partner (tax equity), and is currently conducting negotiations with several creditors for this purpose.

(20)

Purchase of an additional solar and energy storage portfolio in the United States

On December 30, 2022, the American subsidiary Clenera Holdings LLC signed a binding agreement for the purchase of the entire stake in a portfolio of projects for the production and storage of electricity from renewable energy sources in the United States, in various stages of development, with an estimated aggregate capacity of approximately 1.3GW, and approximately 4.1GWh of storage. The portfolio is comprised of three large projects which are located in two states, and some nearby existing projects of the Company which are under development. The projects are held through dedicated project companies, and the entire stake therein will be transferred to the Company upon the signing of the transaction.

The transaction outline is comprised of an initial payment in the amount of approximately USD 51 million and a success-based payment in a cumulative scope of up to USD 52 million, depending on the completion of the development of the projects and, on all matters related to the project Co Bar, on the receipt of “Community Energy” status.

(21)

Country Acers PV project in the United States - power purchase agreements

On November 20, 2023, the Company through the American subsidiary Clenera Holdings LLC has entered into certain agreements in connection with a new project under development located in Placer County, California. The project is expected to have an installed capacity of 392 MW (DC) or 344MW (AC) of solar energy and 688 MWh of energy storage.

The agreements include power purchase agreement and interconnection agreement with the Sacramento Municipal Utility District (“SMUD”), a municipal electric utility serving Sacramento County and parts of Placer County, California. Under the PPA, Country Acres will sell the solar energy produced by the facility for a 30-year term and energy storage for a 20-year term. In addition to the executed PPA, Country Acres Solar LLC has also entered into an interconnection agreement with SMUD.

(22)

Selling of projects

During 2023 the Company sold three projects for a total amount of USD 17.9 million.

Two operated PV projects in Israel, “Dorot” and “Talmei Yafe” with a total capacity of 14MW and 11MW respectively, part of the group “Sunlight 1”, were sold to its partner for an amount of approximately USD 5.6 million (NIS 20.9 million).

PV project in the United Stated with a total capacity of 60MW which was under development, was sold to an American investment fund for a total amount of USD 12.3 million.

The capital gain from the above projects sales is included in other income in the consolidated statement of income.

Bank guarantees which were issued by the Company:

(1)

For the United States projects, as of December 31, 2023, the Company provided performance guarantees in the total amount of USD 236.6 million of which USD 121.8 million were issued during 2023. Financial guarantees were provided in the total amount of USD 69.3 million of which USD 8.5 million were guarantees issued during 2023. During the first quarter of 2024, two guarantees in a total amount of USD 80 million, were released, following Atrisco PV project financial closing in December 2023.

(2)

During the first quarter of 2024, two guarantees were provided for the Roadrunner Project in USA in the total amount of USD 17.6 million and two additional guarantees were provided for the Quail Ranch Project in the total amount of USD 8 million.

(3)

As part of the lease agreements in respect of the projects Halutziot, Kramim-Enlight, and Kidmat Zvi, bank guarantees were provided in the amount of approximately NIS 2.2 million, indexed to the CPI.

(4)

In 2020, the company won the tender for electricity production with a total power of 48MW. As part of the tender, the company provided a performance guarantee in the amount of NIS 28.8 million, which its expiration date has been extended during 2023, and should be expired by the end of 2024.

(5)

In 2020, the Company won the second tender for electricity production with a total power of 82MW. As part of the tender, the Company provided a performance guarantee in the amount of NIS 49.2 million, which its expiration date has been extended during 2023, and should be expired during 2025.

(6)

During 2021, and in accordance with covenant 220D, which was determined by the Electricity Authority, and further to the Company’s winning of a competitive process for dual-use facilities, the Company provided a guarantee in the amount of NIS 4.5 million which should be expired during 2025.

(7)

As part of the electricity sector reform in Israel, the provision segment was opened to competition - and the Authority published regulations allowing electricity producers to buy and sell electricity directly to consumers. In order to engage with electricity consumers, the Company is required to receive a provider license from the Electricity Authority. In order to fulfill the license conditions, the Company provided a guarantee in the amount of NIS 2 million. In addition, as the license holders, during 2023 the Company signed a contract with several consumers and for that purpose provided a financial guarantee in a total amount of NIS 38 million to the System Administrator – Noga.

(8)

For Pupin project in Serbia, the company provided in 2023, a performance bank guarantee in the amount of EUR 4.08 million, and two financial guarantees in the amount of approximately RSD 19.2 million which were signed in January 2024.

(9)

During the second quarter of 2022, for the grid connection of the project Haro Solar 3 S.L., the Company provided guarantees in the total amount of EUR 3.9 million and during 2023 the Company provided additional guarantees in the total amount of EUR 4.6 million.

(10)

For the grid connection of the project Gecama-Hybrid, during 2022 the Company provided guarantees in the total amount of EUR 7 million.

(11)

The company provided in 2020, a bank guarantee in the amount of approximately SEK 17.28 million, as part of the financing agreement for Picasso project in Sweden, which was signed in December 2019.

(12)

As part of a government decree for grid connection in the Raaba Flow project, the company provided performance guarantee in the amount of HUF 325 million which should be expired during 2025.

Bank guarantees which were issued by consolidated entities:

(1)

As part of the receipt of a conditional license for Emek HaBacha project, in 2018, the Company provided a guarantee in the amount of approximately NIS 2 million to the Electricity Authority, which was replaced with a permanent license guarantee in the total amount of 1.7 million during the second quarter of 2022. In 2021, the Company provided a guarantee in the amount of NIS 3.9 million towards the Israel Land Administration, in respect of works at Elrom. The guarantee amounts are indexed to the CPI.

(2)

Within the framework of the lease agreements for Emek HaBacha project, beginning in 2017 and as of the end of 2023, the project provided bank guarantees for leases from the townships in the total amount of approximately NIS 4.27 million, indexed to the CPI.

(3)

As part of receiving a permanent license for Ruach Beresheet wind project, in 2023, the project provided a guarantee in the amount of approximately NIS 3.9 million (indexed to the CPI) to the Electricity Authority.

(4)

In connection with the lease agreements for the projects Mivtachim and Talmei Bilu, guarantees were provided in the total amount of approximately NIS 2.9 million.

(5)

For the Haluziot project, in 2021, for the receipt of a permanent license, a guarantee was provided to the Electricity Authority in the amount of approximately NIS 1 million.

Parent company guarantees:

In the Group’s ordinary course of business, the Group provides, from time to time, guarantees to back and secure various undertakings, including to secure undertakings by virtue of financing agreements in respect of projects, guarantees to secure undertakings in respect of tenders for renewable energy projects, guarantees towards statutory authorities in respect of projects, etc.

Presented below are details regarding the significant guarantees which the Company provided:

As part of acquiring the renewable energy company Clēnera in the United States, guarantees were given to secure the Company’s undertakings towards the entrepreneurs.

Guarantee in connection with the purchase of an additional solar and energy storage portfolio in the United States on December 30, 2022 (“the Tranche III Projects”) in favor of Parasol Renewable Energy Holdings LLC (“PREH”) up to a total of USD 54 million and will be reduced by earn out paid in the future in connection with the Tranche III projects.

Parent guarantee in connection with Tax Equity for Apex in favor of CLI-HBAN Solar Trust (Huntington Bank). This guaranty would become effective only if (1) the Apex project company failed to perform its obligations and (2) Clenera Holdings failed to pay the obligations under its guarantee. This guarantee covers (a) failures of Clenera under its Sponsor Guaranty Agreement, (b) Clenera tax indemnity obligations and (c) Clenera obligations under the Participation Agreement.

The following parental guarantees were issued with respect to Atrisco project:

The following parental guarantees are related to tax equity and construction financing of the project:

	i)	Guarantee in connection with Tax Equity for Atrisco in favor of Bank of America dated November 17, 2023 (Atrisco PV). The indemnity was given to secure the obligations of the Class B Member, In accordance with Section 6.02 of the ECCA (breach of representation or warranty, among other things) and Section 9.01 of the LLCA (breach of representation or warranty, fraud, failure to maintain Reactive Power Capability, among other things) and all obligations of Class B Member under Section 12.03(b) of the LLCA (Class B deficit balance contribution obligation on liquidation).

ii)

Guarantee in favor of HSBC dated December 13, 2023 in connection with debt for Atrisco PV. this guarantee applies if there is a customs (import) delay with regard to modules was given to secure the Atrisco Project Company's obligations under the Financing Agreement with respect to (1) Merchant Tail prepayment; (2) Module Testing prepayment; (3) Reactive Power indemnity; and (4) Reactive Power prepayment.

iii)

Cash Diversion Guaranty delivered by Clenera Holdings in favor of HSBC, dated December 13, 2023 (Atrisco PV - debt). This guaranty applies if on each Scheduled Debt Service Payment Date on or after the Term Conversion Date, the lesser of (a) any Debt Service Payment Shortfall on such date and (b) the sum of (i) the amount of cash diverted to Class A Members sa a result of an indemnity claim under the TE Holdco LLC Agreement and (ii) the amount of cash diverted to the funding of Member Loans by the Back-Leverage Borrower under the TE Holdco LLC Agreement.

Two Equity Commitment Letters dated December 28, 2023 (SPA) given in favor of Tesla, Inc., (SPA & SPA 2) to secure payment obligations of Atrisco Energy Storage LLC under Sale and Purchase Agreement for purchase of batteries for the Atrisco ESS project in an aggregated amount of approximately 350,000,000 USD.

General Agreement of Indemnity (Demand LC) made by Enlight Renewable Energy LLC and Clenera Holdings, LLC in connection with Surety Bond issued by Euler Hermes in favor of Public Service Company of New Mexico, dated May 24, 2023. This Financial security provides Indemnifies Surety from and against losses pursuant to Bond issued by Surety.

	E.	A Letter of Indemnity dated April 24, 2023, was given by the Company in favor of Israel Discount Bank Ltd., in connection with the Counter Standby L/C issued in f/o Salt River Project Agricultural Improvement and Power District. The purpose of this Letter of Indemnity is to provide financial security to backstop withdrawals under the standby LC (as related to PPA between Co Bar Solar D LLC and Salt River Project Agricultural Improvement and Power District (April 21, 2023)) up to 20 million USD.

	F.	The Company issued several guarantees in the amount of approximately EUR 9 million to the turbine provider and to the EPC contractor associated with the Gecama project in Spain.

	G.	As part of the signing of the financing agreement with Bank Hapoalim, for financing 11 PV & storage projects in Israel, the Company has provided on November 29, 2023 the following guarantees:

Guarantee in connection with all obligations and liabilities of Enlight – Finance, Limited Partnership (the Borrower) under the SFA.

Guarantee in connection with all obligations and liabilities of the Company's Private Supplier (Enlight – Iris, Limited Partnership) towards each of the Project Entities under each Private Supplier Agreement.

	H.	As part of its activity as a power supplier in the Israeli market, the Company provides from time to time guarantees to secure the Company's Private Power Supplier (Enlight - Iris, Limited Partnership) obligations towards commercial customers and project entities (power producers).

Guarantee of up to USD 23.6 million in connection with batteries and solar modules supply agreements for PV & storage projects in Israel.

Intangible Assets (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

Depreciated cost

$ 287,961

$ 279,717

Cost

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

286,395

251,652

Initial consolidation

7,965

41,437

(247)

3,010

(6,447)

297,370

286,395

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

6,678

4,593

3,024

2,141

^[1]

(293)

(56)

Electricity supply agreements and concession agreements

9,409

6,678

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

Depreciated cost

139,833

131,589

Electricity supply agreements and concession agreements | Cost

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

138,267

103,524

Initial consolidation

7,965

41,437

(247)

3,010

(6,447)

Electricity supply agreements and concession agreements | Amortization

149,242

138,267

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

6,678

4,593

3,024

2,141

^[1]

(293)

(56)

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

9,409

6,678

Goodwill

Depreciated cost

148,128

Goodwill | Cost

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

148,128

Initial consolidation

Disclosure of reconciliation of changes in intangible assets and goodwill [line items]

148,128

Goodwill | Amortization

^[1]

Cash and cash equivalents [abstract]

$ 0

[1]	The amortization of the intangible assets is included under Costs of sales in the Consolidated Statements of Income and Other Comprehensive Income

Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2023

Cash and Cash Equivalents

Note 5 - Cash and Cash Equivalents

	December 31		December 31
	2023		2022
	USD in thousands		USD in thousands
Cash in banks		387,891		129,792
Short term deposits		15,914		64,077

		403,805		193,869

Financial Instruments (Details 9) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Debentures	$ 450,550	$ 385,737
Loans From Banking Corporations And Other Financial Institutions Non Current Liabilities	1,702,925	1,419,057
Carrying Value [Member]
Disclosure of detailed information about financial instruments [line items]
Debentures	454,091	388,498
Loans From Banking Corporations And Other Financial Institutions Non Current Liabilities	1,305,642	1,200,199
Non Current Liability In Respect Of Deferred Consideration Arrangement	2,591	2,750
At fair value [member]
Disclosure of detailed information about financial instruments [line items]
Debentures	430,889	364,203
Loans From Banking Corporations And Other Financial Institutions Non Current Liabilities	876,561	908,964
Non Current Liability In Respect Of Deferred Consideration Arrangement	$ 3,019	$ 3,602

Other Receivables

12 Months Ended

Dec. 31, 2023

Disclosure Of Other Receivables [Abstract]

Other Receivables

Note 6 - Other Receivables

	December 31		December 31
	2023		2022
	USD in thousands		USD in thousands

Government institutions		8,665		6,409
Other receivables		19,594		20,288
Prepaid expenses		32,432		10,256

		60,691		36,953

Share-Based Payment (Details 1) ₪ / shares in Units, $ / shares in Units, ₪ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 ILS (₪) Year ₪ / shares	Dec. 31, 2023 USD ($) Year $ / shares	Dec. 31, 2022 ILS (₪) Year ₪ / shares	Dec. 31, 2022 USD ($) Year
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options \| $		10,193,577
Allocated Options To Employees Dated 14.03.2023 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	3/14/2023	3/14/2023
Number of options \| $		124,000		541,400
Option value in NIS/USD \| (per share)	₪ 23.83	$ 6.57
Exercise price in NIS	64.91
Share price in NIS	₪ 62.95
Risk-free interest rate	3.88%	3.88%
Standard deviation	32.81%	32.81%
Value of options	₪ 2,955	$ 815
Allocated Options To Employees Dated 23.03.2023 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	3/23/2023	3/23/2023
Number of options \| $		114,000
Option value in NIS/USD \| (per share)	₪ 24.73	$ 6.85
Exercise price in NIS	60.32
Share price in NIS	₪ 62.5
Risk-free interest rate	3.74%	3.74%
Standard deviation	32.86%	32.86%
Value of options	₪ 2,819	$ 781
Allocated Options To Employees Dated 24.04.2023 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	4/24/2023	4/24/2023
Number of options \| $		220,000
Option value in NIS/USD \| (per share)	₪ 23.63	$ 6.45
Exercise price in NIS	61.52
Share price in NIS	₪ 59.1
Risk-free interest rate	3.78%	3.78%
Standard deviation	33.09%	33.09%
Value of options	₪ 5,199	$ 1,420
Lifetime of options \| Year	7	7
Allocated Options To Employees Dated 25.05.2023 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	5/25/2023	5/25/2023
Number of options \| $		24,000
Option value in NIS/USD \| (per share)	₪ 30.74	$ 8.24
Exercise price in NIS	62.6
Share price in NIS	₪ 67.5
Risk-free interest rate	3.82%	3.82%
Standard deviation	33.19%	33.19%
Value of options	₪ 738	$ 198
Allocated Options To Employees Dated 18.12.2023 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	12/18/2023	12/18/2023
Number of options \| $		146,427
Option value in NIS/USD \| (per share)	₪ 31.53	$ 8.63
Exercise price in NIS	62.81
Share price in NIS	₪ 71.23
Risk-free interest rate	3.80%	3.80%
Standard deviation	33.83%	33.83%
Value of options	₪ 4,617	$ 1,264
Allocated Options To Employees3 Dated 08.02.2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	2/8/2022	2/8/2022
Number of options \| $		541,400
Option value in NIS/USD \| (per share)	₪ 23.93	$ 7.42	₪ 23.93
Exercise price in NIS	72.3		72.3
Share price in NIS	₪ 68.4		₪ 68.4
Risk-free interest rate			1.40%	1.40%
Standard deviation			33.50%	33.50%
Value of options			₪ 12,956	$ 4,019
Allocated Options To Employees3 Dated 13.02.2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	2/13/2022	2/13/2022
Number of options \| $		282,000		282,000
Option value in NIS/USD \| (per share)	₪ 22.69	$ 6.96	₪ 22.69
Exercise price in NIS	72.84		72.8
Share price in NIS	₪ 66.8		₪ 66.8
Risk-free interest rate			1.40%	1.40%
Standard deviation			33.50%	33.50%
Value of options			₪ 6,399	$ 1,962
Allocated Options To Employees Dated 17.04.2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	4/17/2022	4/17/2022
Number of options \| $		269,250		269,250
Option value in NIS/USD \| (per share)	₪ 27.92	$ 8.63	₪ 27.92
Exercise price in NIS	77.2		77.2
Share price in NIS	₪ 74.7		₪ 74.7
Risk-free interest rate			2.20%	2.20%
Standard deviation			33.90%	33.90%
Value of options			₪ 7,517	$ 2,323
Allocated Options To Employees Dated 28.06.2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	6/28/2022	6/28/2022
Number of options \| $		100,000		100,000
Option value in NIS/USD \| (per share)	₪ 28.14	$ 8.19	₪ 28.14
Exercise price in NIS	68.64		68.64
Share price in NIS	₪ 69.6		₪ 69.6
Risk-free interest rate			2.80%	2.80%
Standard deviation			34.40%	34.40%
Value of options			₪ 2,814	$ 819
Allocated Options To Employees Dated 28.06.2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	6/28/2022	6/28/2022
Number of options \| $		146,000		146,000
Option value in NIS/USD \| (per share)	₪ 29.53	$ 8.59	₪ 29.53
Exercise price in NIS	63.93		63.9
Share price in NIS	₪ 69.6		₪ 69.6
Risk-free interest rate			2.80%	2.80%
Standard deviation			34.40%	34.40%
Value of options			₪ 4,311	$ 1,255
Lifetime of options \| Year			7	7
Allocated Options To Employees Dated 01.09.2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	9/1/2022	9/1/2022
Number of options \| $		97,000		97,000
Option value in NIS/USD \| (per share)	₪ 33.82	$ 10.05	₪ 33.82
Exercise price in NIS	79.65		79.6
Share price in NIS	₪ 81.6		₪ 81.6
Risk-free interest rate			3.10%	3.10%
Standard deviation			34.50%	34.50%
Value of options			₪ 3,281	$ 975
Allocated Options To Employees1 Dated 01.09.2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	9/1/2022	9/1/2022
Number of options \| $		10,000		10,000
Option value in NIS/USD \| (per share)	₪ 33.15	$ 9.85	₪ 33.15
Exercise price in NIS	81.43		81.4
Share price in NIS	₪ 81.6		₪ 81.6
Risk-free interest rate			3.10%	3.10%
Standard deviation			34.50%	34.50%
Value of options			₪ 332	$ 99
Allocated Options To Employees Dated 30.10.2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	10/30/2022	10/30/2022
Number of options \| $		25,000		25,000
Option value in NIS/USD \| (per share)	₪ 29.1	$ 8.24	₪ 29.1
Exercise price in NIS	78.19		78.2
Share price in NIS	₪ 74.2		₪ 74.2
Risk-free interest rate			3.30%	3.30%
Standard deviation			34.40%	34.40%
Value of options			₪ 728	$ 206
Allocated Options To Employees1 Dated 18.12.2022 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date	12/18/2022	12/18/2022
Number of options \| $		126,000		126,000
Option value in NIS/USD \| (per share)	₪ 30.26	$ 8.79	₪ 30.26
Exercise price in NIS	74.66		74.7
Share price in NIS	₪ 74		₪ 74
Risk-free interest rate			3.40%	3.40%
Standard deviation			34.60%	34.60%
Value of options			₪ 3,813	$ 1,108

Financial Instruments (Details 5) - 12 months ended Dec. 31, 2023 € in Thousands, Ft in Thousands, $ in Thousands	EUR (€)	HUF (Ft)	USD ($)
Interest rate swap contract [member] \| Loan To Finance Lukovac Project [Member]
Disclosure of detailed information about financial instruments [line items]
Original Interest Rates Under Interest Rate Swaps	3 month Euribor
Interest Rates Under Interest Rate Swaps After Hedging	0.75%
Par Value Of Hedged Contract	€ 18,153		$ 20,078
Repayment Date Of Hedged Contract	31/03/2031
Carrying Value Of Hedged Contract			1,218
Interest rate swap contract [member] \| Loan To Finance Picasso Project [Member]
Disclosure of detailed information about financial instruments [line items]
Original Interest Rates Under Interest Rate Swaps	3 month Euribor
Interest Rates Under Interest Rate Swaps After Hedging	1.08%
Par Value Of Hedged Contract	€ 71,205		78,755
Repayment Date Of Hedged Contract	31/03/2039
Carrying Value Of Hedged Contract			5,425
Interest rate swap contract [member] \| Loan To Finance Gecama Project [Member]
Disclosure of detailed information about financial instruments [line items]
Original Interest Rates Under Interest Rate Swaps	6 month Euribor
Interest Rates Under Interest Rate Swaps After Hedging	0.147%
Par Value Of Hedged Contract	€ 144,850		160,210
Repayment Date Of Hedged Contract	30/06/2035
Carrying Value Of Hedged Contract			24,174
Interest rate swap contract [member] \| Loan To Finance Raaba And Meg Projects [Member]
Disclosure of detailed information about financial instruments [line items]
Original Interest Rates Under Interest Rate Swaps	3 monthBubor
Interest Rates Under Interest Rate Swaps After Hedging	1.445%-3.7%
Par Value Of Hedged Contract		Ft 12,346,053	35,674
Repayment Date Of Hedged Contract	31/12/2030
Carrying Value Of Hedged Contract			4,193
Interest rate swap contract [member] \| Loan To Finance Bjorn Project [Member]
Disclosure of detailed information about financial instruments [line items]
Original Interest Rates Under Interest Rate Swaps	6 month Euribor
Interest Rates Under Interest Rate Swaps After Hedging	0.526%
Par Value Of Hedged Contract	€ 162,111		179,301
Repayment Date Of Hedged Contract	30/06/2041
Carrying Value Of Hedged Contract			28,198
Interest rate swap contract [member] \| Loan to finance the Atrisco project - PV [Member]
Disclosure of detailed information about financial instruments [line items]
Original Interest Rates Under Interest Rate Swaps	6 month Sofer
Interest Rates Under Interest Rate Swaps After Hedging	4.0858%
Par Value Of Hedged Contract			112,383
Repayment Date Of Hedged Contract	30/09/2048
Carrying Value Of Hedged Contract			(7,217)
Deal Contingent Hedge [Member] \| Loan to finance the Atrisco project - BESS [Member]
Disclosure of detailed information about financial instruments [line items]
Original Interest Rates Under Interest Rate Swaps	3.8249%
Par Value Of Hedged Contract			140,332
Repayment Date Of Hedged Contract	30/06/2044
Carrying Value Of Hedged Contract			$ (5,539)

Changes in Liabilities from Financing Activities

12 Months Ended

Dec. 31, 2023

Changes in liabilities arising from financing activities [abstract]

Changes in Liabilities from Financing Activities

Note 14 - Changes in Liabilities from Financing Activities

	Balance as of January 1, 2023		Cash flows from financing activities			Translation differences in respect of foreign operations			Adjustments in respect of cash flows for operating activities (3)		Non-cash activities			Balance as of December 31, 2023
	USD in thousands		USD in thousands			USD in thousands			USD in thousands		USD in thousands			USD in thousands
Debentures (1)		256,736		68,303			(4,076	)		2,198		-			323,161
Convertible Debentures (1)		131,763		-			(3,763	)		2,952		(21	)		130,931
Loans from banks and other financial institutions		1,585,846		403,679			21,664			20,880		(2,530)	(2)		2,029,539
Loans from non-controlling interests		90,909		(1,211	)		2,466			754		(167	)		92,751
Lease liability		99,623		(4,848	)		1,611			-		31,210	(4)		127,596

		2,164,877		465,923			17,902			26,784		28,492			2,703,978

(1)

Including interest payable.

(2)

(3)

Including interest accrued and interest paid.

	(4)	Initial creation and index linking vis-à-vis right-of-use asset.

	Balance as of January 1, 2022		Cash flows from financing activities			Translation differences in respect of foreign operations			Adjustments in respect of cash flows for operating activities(3)			Non-cash activities			Balance as of December 31, 2022
	USD in thousands		USD in thousands			USD in thousands			USD in thousands			USD in thousands			USD in thousands
Debentures (1)		307,481		(16,571	)		(35,037	)		863			-			256,736
Convertible Debentures (1)		101,291		47,755			(15,576	)		3,195			(4,902	)		131,763
Loans from banks and other financial institutions (1)		1,231,208		357,868			(123,423	)		32,435			87,758	(2)		1,585,846
Loans from non-controlling interests		78,113		15,834			(5,210	)		330			1,842			90,909
Lease liability		105,645		(4,327	)		(10,302	)		(1,964	)		10,571	(4)		99,623

		1,823,738		400,559			(189,548	)		34,859			95,269			2,164,877

(1)

Including interest payable.

(2)

Mostly due to the offsetting of deferred borrowing costs which were prepaid by the project companies on the financial closing dates, and discounted finance expenses during the construction period.

(3)

Including interest accrued and interest paid.

(4)

Initial creation vis-à-vis right-of-use asset.

	Balance as of January 1, 2021		Cash flows from financing activities			Translation differences in respect of foreign operations			Adjustments in respect of cash flows for operating activities(3)			Initial consolidation		Non-cash activities			Balance as of December 31, 2021
	USD in thousands		USD in thousands			USD in thousands			USD in thousands			USD in thousands		USD in thousands			USD in thousands
Debentures (1)		206,527		89,989			10,444			521			-		-			307,481
Convertible Debentures (1)		-		96,343			3,741			1,207			-		-			101,291
Loans from banks and other financial institutions (1)		840,582		389,728			(9,154	)		13,801			-		(3,749	)(2)		1,231,208
Loans from non-controlling interests		46,241		10,530			(3,826	)		97			24,037		1,034			78,113
Lease liability		79,733		(6,344	)		(375	)		(1,243	)		22,802		11,072	(4)		105,645

		1,173,083		580,246			830			14,383			46,839		8,357			1,823,738

(1)

Including interest payable.

(2)

Mostly due to the offsetting of deferred borrowing costs which were prepaid by the project companies on the financial closing dates, and discounted finance expenses during the construction period.

(3)

Including interest accrued and interest paid.

(4)

Initial creation vis-à-vis right-of-use asset.

Loans from banks and other financial institutions (Tables)

12 Months Ended

Dec. 31, 2023

Credit From Banking Corporations Financial Institutions And Other Credit Providers [Abstract]

Disclosure of detailed information about credit from banking corporations, financial institutions and other credit providers

	Current liabilities				Non-current liabilities				Total
	As of December 31				As of December 31				As of December 31
	2023		2022		2023		2022		2023		2022
	USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands
Credit from banks (1)		-		565		-		-		-		565
Loans from banks and other financial institutions for project financing (2)		324,666		165,062		1,586,692		1,376,260		1,911,358		1,541,322
Loans from banks for corporate financing (3)		-		-		116,233		42,797		116,233		42,797

Total credit		324,666		165,627		1,702,925		1,419,057		2,027,591		1,584,684

Disclosure of detailed information about loans from banking corporations and other financial institutions for project financing

Project name	Mivtachim and Talmei Bilu	Halutziot	Kramim and Idan	Medium rooftops
Lender	Bank Leumi Le-Israel Ltd. and entities of Menorah Group and Amitim Pension Fund	Bank Leumi Le-Israel Ltd. and entities of Menorah Group and Amitim Pension Fund	Bank Leumi Le-Israel Ltd. and entities of Menorah Group and Amitim Pension Fund	Institutional entities of Clal Insurance Group
Amount of loan / credit facility	USD 98 million (NIS 356 million)	USD 152 million (NIS 552 million)	USD 30 million (NIS 107 million)	USD 4 million (NIS 15 million)
Date financing provided	December 2020	December 2020	December 2020	January 2019
Balance of the loan as of December 31, 2023	USD 83 million (NIS 300.3 million)	USD 152 million (NIS 552 million)	USD 26 million (NIS 93.6 million)	USD 3 million (NIS 12 million)
Balance of the loan as of December 31, 2022	USD 91 million (NIS 320.2 million)	USD 164 million (NIS 576.8 million)	USD 28 million (NIS 99.1 million)	USD 4 million (NIS 12.6 million)
Amortization schedule	Spitzer amortization table comprised of quarterly payments	Spitzer amortization table comprised of quarterly payments	Spitzer amortization table comprised of quarterly payments	Spitzer amortization table comprised of quarterly payments
Debt period	Throughout the entire period until the expiration date of the permanent electricity production license, approximately 13 years.	Throughout the entire period until the expiration date of the permanent electricity production license, approximately 15 years.	Throughout the entire period until the expiration date of the permanent electricity production license, approximately 13 years.	Approximately 15 years
Stated annual interest rate	Interest of approximately 0.77%, index-linked	Interest of approximately 0.88%, index-linked	Interest of approximately 0.8%, index-linked	Interest of approximately 2.2%, index-linked
Financial covenants:
Debt service reserve	-	-	-	USD 0.22 million (NIS 0.8 million)
ADSCR default	1.05	1.05	1.05	1.07
LLCR default	1.05	1.05	1.05	1.12
Fulfillment of financial covenants	As of the balance sheet date, the companies fulfilled the foregoing financial covenants	As of the balance sheet date, the partnership fulfilled the foregoing financial covenants	As of the balance sheet date, the partnerships fulfilled the foregoing financial covenants	As of the balance sheet date, the partnerships fulfilled the foregoing financial covenants
Collateral	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, and cross-support between the project corporations Mivtachim, Talmei Bilu, Halutziot, Kramim and Idan, in respect of the debt service.	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, and cross-support between the project corporations Mivtachim, Talmei Bilu, Halutziot, Kramim and Idan, in respect of the debt service.	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, and cross-support between the project corporations Mivtachim, Talmei Bilu, Halutziot, Kramim and Idan, in respect of the debt service.	Charge on the partnership’s interests in the projects, on the project partnership’s assets, right to proceeds from the sale of electricity, the project partnership’s land rights, insurance, agreements vis-à-vis contractors and collateral from contractors thereunder, the rights of the partnership’s partners to receive profits, etc. Backing between the Company’s concatenated interests in the project partnerships of each group of projects.

Project name	Sunlight 1	Emek HaBacha	Sunlight 2 and Dekel.
Lender	Institutional entities of Clal Insurance Group	Bank Hapoalim Ltd. in collaboration with Phoenix and Harel groups	Institutional entities of Clal Insurance Group
Amount of loan / credit facility	USD 44 million (NIS 160 million)	USD 159 million (NIS 576 million) Index linked loan	USD 19 million (NIS 70 million)
Date financing provided	March 2018	November 2018	December 2019
Balance of the loan as of December 31, 2023	USD 22 million (NIS 76 million)	USD 161 million (NIS 584.5 million)	USD 13 million (NIS 48.8 million)
Balance of the loan as of December 31, 2022	USD 42 million (NIS 146.5 million)	USD 168 million (NIS 589.7 million)	USD 14 million (NIS 49.3 million)
Amortization schedule	Spitzer amortization table, quarterly repayments.	Spitzer amortization table, quarterly repayments.	Spitzer amortization table, quarterly repayments
Debt period	Construction period and another approximately 22 years	Construction period and another approximately 18 years.	Construction period and another approximately 22 years
Stated annual interest rate	interest within the range of 2.6%-3%, CPI-linked	The construction period - base interest () plus a margin of 3.3%, CPI-linked The operation period - base interest () plus a margin of 2.65%, CPI-linked	Base interest (*) plus a margin of 2.15%, CPI-linked
Financial covenants:
Debt service reserve	USD 2 million (NIS 6 million)	-	USD 1 million (NIS 2 million)
ADSCR default	1.07	1.05	1.07
LLCR default	1.12	1.05	1.12
Fulfillment of financial covenants	As of the balance sheet date, the partnerships fulfilled the foregoing financial covenants	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required	As of the balance sheet date, the partnerships fulfilled the foregoing financial covenants except in the case of one project, in connection with which the Company has received a waiver letter from the applicable bank stating that the lender waives, inter alia, its right to demand immediate repayment.
Collateral	Charge on the partnership’s interests in the projects, charge on the project partnership’s assets, right to proceeds from the sale of electricity, the project partnership’s land rights, insurance, agreements vis-à-vis contractors and collateral from contractors thereunder, the rights of the partnership’s partners to receive profits, etc. Backing between the Company’s concatenated interests in the project partnerships of each group of projects.	Charge on the tariff and conditional license, charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, etc.	Charge on the partnership’s interests in the projects, charge on the project partnership’s assets, right to proceeds from the sale of electricity, the project partnership’s land rights, insurance, agreements vis-à-vis contractors and collateral from contractors thereunder, the rights of the partnership’s partners to receive profits, etc. Backing between the Company’s concatenated interests in the project partnerships of each group of projects.

(*) Base interest rate - The interest rate of CPI-linked government debentures with the same average lifetime, determined on the withdrawal date.

Project name	Tullynamoyle	Lukovac	EWK	Storage 1+2, through Enlight Finance L.P.
Lender	Bank of Ireland	ERSTE and PBZ, of INTESA Group	ERSTE, EBRD and Novi Sad	Bank Hapoalim B.M.
Amount of loan / credit facility	USD 15.82 million (EUR 14.3 million)	USD 54 million (EUR 48.8 million)	USD 153.7 million (EUR 139 million)	USD 224 million (NIS 812 million)
Date financing provided	August 2020	December 2020	December 2017	December 2023
Balance of the loan as of December 31, 2023	USD 12.16 million (EUR 11 million)	USD 41 million (EUR 37 million)	USD 93 million (EUR 84 million)	USD 141 million (NIS 513.1 million)
Balance of the loan as of December 31, 2022	USD 12.65 million (EUR 11.86 million)	USD 43.9 million (EUR 41 million)	USD 99.9 million (EUR 93.6 million)	-
Amortization schedule	The loan will be repaid in 50 quarterly payments	The loan will be repaid in 46 quarterly payments	The loan will be repaid in 23 semi-annual payments	The loan will be repaid in 12 semi-annual payments ending with a final repayment of the remaining loan balance.
Debt period	12.5 years	11.5 years	Construction period and another 11.5 years	20-year amortization period and a 6-year mini-perm term
Stated annual interest rate	90% of the loan bears interest at a rate of 3.47% and 10% of the loan bears interest of 3M Euribor plus a margin of 2%	81% of the loan bears interest at a rate of 3.5% and 19% of the loan bears interest of 3M Euribor plus a margin in the range of 3-3.5%	EUR 83 million of the loan bears interest at a rate of 2.3%, EUR 40 million of the loan bears interest at a rate of 3.95%, And EUR 16 million of the loan bears interest in the range of 4.65%-4.83%.	Interest at a rate of 2.6% above Israeli nominal government bond yields
Financial covenants:
Debt service reserve	-	USD 3.1 million (EUR 2.8 million)	USD 8.5 million (EUR 7.7 million)	-
ADSCR default	1.05	1.10	1.10	1.05
Fulfillment of financial covenants	Non-fulfillment, receipt of a waiver letter from the bank stating that the lender waives, inter alia, its right to demand immediate repayment.	As of the balance sheet date, the Company fulfilled the foregoing financial covenants	As of the balance sheet date, the Company fulfilled the foregoing financial covenants	-
Collateral	The project company pledged in favor of the bank all of the equipment in the project, its rights by virtue of power purchase agreements, its rights in the licenses, its rights in the insurance policy, and its other rights in the project. The Company’s entire stake in the project company was also pledged in favor of the bank.	The project company will pledge in favor of the bank the project equipment, power purchase agreements, its rights in licenses, the insurance policy, and its other rights in the project.	The project company will pledge in favor of the bank the project company’s assets, cash flow rights, insurance policies, collateral from EPC contractors, etc.	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, and cross-support between the projects in the cluster, in respect of the debt service. Twelve months after the last COD, a debt sizing test will be carried out. If the debt sizing test does not meet the required ratio, the Company may be required to inject equity in order to reduce debt amount so it meets the debt sizing required ratio.

Project name	Attila	SOWI	Picasso	Halutziot 2+ Halutziot 1 upgrade
Lender	ERSTE	ERSTE, NLB group and EBRD	Hamburg Commercial Bank	Bank Leumi Le-Israel Ltd.
Amount of loan / credit facility	USD 40.6 million (HUF 14 billion)	USD 127.2 million (EUR 115 million)	USD 90.4 (EUR 81.7) million. The bank will also provide a credit facility for the required guarantees at a scope of up to USD 6.5 (EUR 5.8) million during the operating period	USD 49 million (NIS 177 million)
Date financing provided	January 2019	January 2020	January 2020	September 2022
Balance of the loan as of December 31, 2023	USD 34 million (HUF 11.76 billion)	USD 99 million (EUR 89.6 million)	USD 81 million (EUR 72.9 million)	USD 49 million (NIS 177 million)
Balance of the loan as of December 31, 2022	USD 33.7 million (HUF 12.66 billion)	USD 102.6 million (EUR 96.2 million)	USD 83 million (EUR 77.5 million)	-
Amortization schedule	Quarterly repayments, spitzer amortization table with lower repayments in the first two years	Semi-annual repayments, Spitzer amortization table	Quarterly repayments, spitzer amortization table	Spitzer amortization table comprised of quarterly payments
Debt period	Construction period and another 17 years	Construction period and another 11 years	Construction period and another 18 years	Construction period and another 22 years
Stated annual interest rate	30% of the loan bears interest at a rate of 4.05% And 70% of the loan bears interest at a rate of approximately 6.3%.	Approximately 50% of the loan bears interest at a rate of 1.9%, approximately 32% of the loan bears interest at a rate of approximately 4.1% and 18% of the loan bears Euribor plus a margin of 4%.	Interest at a rate of 1.58% during the construction period and until December 31, 2029, and interest at a rate of 2.33% until the end of the loan period.	base interest plus a margin of 1.25%-2.2% CPI-linked
Financial covenants:
Debt service reserve	USD 1.2 million (HUF 414 million)	USD 10.6 million (EUR 9.6 million)	-	-
ADSCR default	1.05	1.05	1.05	1.05
Fulfillment of financial covenants	As of the balance sheet date, the Company fulfilled the foregoing financial covenants	As of the balance sheet date, the Company fulfilled the foregoing financial covenants	As of the balance sheet date, the Company fulfilled the foregoing financial covenants	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required
Collateral	Charge on the tariff and the electricity production license, charge on the project companies’ assets, cash flow rights, land rights, insurance. collateral from the project contractors, etc.) The financing of the portfolio of projects is applied and evaluated on a consolidated basis.	Charge on the project company’s assets, cash flow rights, land rights, collateral from the project contractors, etc.	Charge on the project company’s assets, cash flow rights, land rights, collateral from the project contractors, etc.	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project.

Project name	Ruach Beresheet	Gecama	Björnberget	Atrisco
Lender	Bank Hapoalim Ltd., and in collaboration with entities from Migdal and Amitim Group	Banco de Sabadell and Bankia	KFW IPEX-Bank and DekaBank, and the Swedish Export Credit Corporation (SEK).	Consortium of lenders led by HSBC Securities (USA) Inc.
Amount of loan / credit facility	USD 321.5 million (NIS 1.17 billion)	USD 185.8 million (EUR 168 million)	USD 229 million (EUR 207 million)	USD 303 million for construction period
Date financing provided	July 2020	June 2020	May 2021	December 2023
Balance of the loan as of December 31, 2023	USD 305.8 million (NIS 1.1 billion)	USD 164.4 million (EUR 148.6 million)	USD 218.8 million (EUR 197.8 million)	USD 212.2 million
Balance of the loan as of December 31, 2022	USD 280 million (NIS 986 million)	USD 167.3 million (EUR 156.9 million)	USD 137.3 million (EUR 128.7 million)	-
Amortization schedule	Quarterly repayments, spitzer amortization table	Semi-annual repayments, Spitzer amortization table	Semi-annual repayments, Spitzer amortization table	Construction Loan - semi annual payments based on predetermined amortization schedule.
Debt period	Construction period and another approximately 19 years	Construction period and another approximately 14 years	Construction period and another approximately 18 years	Construction period another approximately 23 years
Stated annual interest rate	construction period - base interest() plus a margin of 2.5%-3% Operating period - base interest() plus a margin of 2.2%-2.7%	Base interest of Euribor plus a margin of 2.5%-3%. The company hedged 90% of the total base interest liability during the entire debt period of 13 years, beginning from the project’s date of initial operation.	Base interest of Euribor plus a margin of 1.75%. The company hedged approximately 79% of the total base interest liability during the entire debt period of 18 years, beginning from the project’s date of initial operation.	Secured Overnight Financing Rate (“SOFR”) with a margin of 1.5% during construction period and SOFR plus 1.75% during term loan period.
Financial covenants:
Debt service reserve	-	-	-	-
ADSCR default	1.05	1.05	1.05	-
Fulfillment of financial covenants	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required	As of the balance sheet date, fulfillment of the foregoing financial covenants is not required	-
Collateral	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, etc.	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, etc.	Charge on the SPV’s assets, cash flow rights, land rights, insurance, collateral from the project contractors, etc.	Collateral on the SPV’s assets, cash flow rights, land rights, insurance, agreements, collateral from the project contractors, etc. Enlight Guarantee.

(*) Base interest rate - The interest rate of CPI-linked government debentures with the same average lifetime, determined on the withdrawal date.

Finance Expenses, Net (Details 1) - USD ($) $ in Thousands	12 Months Ended
Finance Expenses, Net (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Finance Expenses Net Abstract [Abstract]
Finance income from contract asset in respect of concession arrangements	$ 10,294	$ 17,188	$ 24,310
Changes in the fair value of financial instruments measured at fair value through profit or loss	4,425	2,953	3,145
Finance income from hedge transactions	0	0	1,053
Finance income from loans to investee entities	1,765	1,166	1,487
Finance income from deposits in banks	9,833	1,669	0
Exchange differences	10,250	0	0
Other	232	365	338
Finance income	$ 36,799	$ 23,341	$ 30,333

Share Capital (Details 2) - USD ($) $ in Thousands	12 Months Ended
Share Capital (Details 2) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Feb. 21, 2023	Aug. 16, 2022	Mar. 06, 2022
Disclosure of classes of share capital [line items]
Exercise of options by employees		$ 8	$ 26
Number of shares issued and fully paid				2,042,935	57,692,308	30,443,900
Ordinary shares [member]
Disclosure of classes of share capital [line items]
Beginning balance	101,582,902	92,510,658
Issuance of shares	16,042,935	8,813,621
Exercise of options by employees	$ 337,473	$ 258,623
Number of shares issued and fully paid	117,963,310	101,582,902	92,510,658
Share capital
Disclosure of classes of share capital [line items]
Exercise of options by employees		$ 8	$ 26
Share premium
Disclosure of classes of share capital [line items]
Exercise of options by employees		$ 0	$ 0

Balances and Transactions with Related Parties (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of transactions between related parties [abstract]

Disclosure of detailed information about compensation and benefits given to interested parties and related parties

	For the year ended December 31
	2023		2022
	USD in thousands		USD in thousands
Compensation and benefits which were given to related parties:

Payroll and related expenses to interested parties employed in the Company		749		604

Granting of options to interested parties employed in the Company		818		1717

Number of people to whom the benefit applies		1		1

Compensation for directors who are not employed in the Company		552		619

Number of people to whom the benefit applies		8		7

Granting of options to directors who are not employed in the Company		216		514

Number of people to whom the benefit applies		1		1

Disclosure of detailed information about progressive salary program approved

Relevant year	Updated base salary (NIS)	Number of annual bonus salaries subject to the fulfillment of targets which will be determined according to the Company’s compensation policy*
2021 (effective beginning from the date of the meeting’s approval)	86,600** (approximately USD 26,800)	6
2021 - Additional special compensation in respect of the closing of the Clēnera transaction - USA	150,000 (approximately USD 46,500)	Non-recurring
2022	95,000 (approximately USD 28,300)	8
2023	105,000 (approximately USD 29,800)	9

* The bonus amount may reach a level of 125% (i.e., above the foregoing salaries limit), subject to excellence targets which will be defined.

** Represents the average salary for 2021.

Earnings Per Share

12 Months Ended

Dec. 31, 2023

Disclosure Of Significant Accounting Policies [Abstract]

Earnings Per Share

Note 17 - Earnings Per Share

Basic earnings per share

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands
Profit attributable to the Company’s owners for the purpose of calculating basic earnings per share		70,924		24,749		11,217

	For the year ended December 31
	2023		2022		2021

Weighted average of the number of ordinary shares used for the purpose of calculating basic earnings per share (*)		115,721,346		97,335,870		93,749,219

Diluted earnings per share:

	For the year ended December 31
	2023		2022		2021
	USD in thousands		USD in thousands		USD in thousands
Profit which was used to calculate diluted earnings per share		70,924		24,749		11,217

	For the year ended December 31
	2023		2022		2021

Weighted average of the number of ordinary shares used to calculate diluted earnings per share (*)		123,861,293		99,978,133		98,108,669

(*) The number of ordinary shares is after giving effect to the Reverse Share Split. See also Note 16.

Material Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of useful lifetimes, depreciation rates and depreciation methods used in calculating depreciation

	Useful lifetime	Depreciation rates	Depreciation method
Wind farms	25-30 years	3.33%-4%	Straight line
Photovoltaic systems	30-35 years	2.86%-3.33%	Straight line
Automatic cleaning systems	20 years	5%	Straight line
Others	3-14 years	7%-33.33%	Straight line

Financial Instruments (Details 3) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

$ 403,805

$ 193,869

$ 265,933

$ 99,330

387,891

129,792

Financial assets measured at fair value through profit or loss

142,695

92,103

33,895

43,100

39,822

60,691

36,953

976

1,493

13,893

664,645

423,704

Financial assets measured at fair value through profit or loss

38,891

38,728

53,466

42,918

79,426

94,396

3,969,276

3,109,663

(105,574)

(34,638)

(103,622)

(77,864)

(26,233)

(15,832)

(1,224)

(50,255)

Financial liabilities measured at fair value through profit or loss

(8,113)

(5,850)

(13,860)

(35,283)

(583,292)

(385,349)

(293,751)

(238,520)

Loans from banking corporations and other financial institutions

(130,566)

(131,385)

(1,702,925)

(1,419,057)

(92,750)

(90,908)

(119,484)

(93,773)

(34,524)

(48,068)

(2,614,672)

(2,097,984)

Financial risk [member]

403,805

193,869

5,308

4,054

Financial assets measured at fair value through profit or loss

142,695

92,103

33,895

43,100

39,822

16,371

6,179

976

1,493

13,893

612,255

385,308

38,891

38,728

Financial assets measured at fair value through profit or loss

30,540

4,767

53,466

42,918

35,878

14,184

79,426

94,396

238,201

194,993

Credit and current maturities in respect of loans from banking corporations and other financial institutions

(324,666)

(165,627)

(105,574)

(34,638)

(89,028)

(68,037)

(26,233)

(15,832)

(1,224)

(50,255)

Financial liabilities measured at fair value through profit or loss

(8,113)

(5,850)

(13,860)

(35,283)

(568,698)

(375,522)

(293,751)

(238,520)

Loans from banking corporations and other financial institutions

(130,566)

(131,385)

(1,702,925)

(1,419,057)

(92,750)

(90,908)

(119,484)

(93,773)

(4,784)

(12,238)

(34,524)

(48,068)

(62,020)

(2,440,804)

(2,033,949)

Financial risk [member] | Linked [Member] | Consumer Price Index [Member]

(2,159,236)

1,829,170

Financial assets measured at fair value through profit or loss

12,974

432

427

432

432

13,401

Financial assets measured at fair value through profit or loss

6,264

6,622

4,835

5,253

11,099

11,875

Credit and current maturities in respect of loans from banking corporations and other financial institutions

(46,886)

(32,860)

(1,571)

(1,143)

Financial liabilities measured at fair value through profit or loss

(6,221)

(4,202)

(54,678)

(38,205)

Loans from banking corporations and other financial institutions

(767,810)

(757,543)

(82,306)

(58,535)

(2,411)

(2,584)

(852,527)

(818,662)

Financial risk [member] | Unlinked [Member]

(895,674)

831,591

182,737

83,673

Financial assets measured at fair value through profit or loss

47,882

71,262

20,555

12,684

9,037

4,263

4,872

171

1,493

247,737

204,785

11,971

13,525

Financial assets measured at fair value through profit or loss

26,578

4,133

38,555

17,660

Credit and current maturities in respect of loans from banking corporations and other financial institutions

(1,446)

(5,543)

(49,264)

(28,925)

(26,233)

(15,832)

Financial liabilities measured at fair value through profit or loss

(39)

(40)

(76,982)

(50,340)

(293,751)

(238,520)

Loans from banking corporations and other financial institutions

(130,566)

(131,385)

(141,470)

(12,744)

(14,121)

(319)

(335)

(578,850)

(384,361)

USD [Member] | Financial risk [member] | Linked [Member]

(369,540)

212,256

136,633

1,582

Financial assets measured at fair value through profit or loss

16,270

366

340

785

805

154,048

2,733

Financial assets measured at fair value through profit or loss

Credit and current maturities in respect of loans from banking corporations and other financial institutions

(212,202)

(75,576)

(94,445)

(15,495)

(15,503)

(15,567)

(1,224)

Financial liabilities measured at fair value through profit or loss

(13,860)

(35,283)

(337,234)

(141,921)

Loans from banking corporations and other financial institutions

(116,151)

(42,797)

(4,784)

(12,238)

(32,113)

(45,484)

(62,020)

(215,068)

(100,519)

EUR [Member] | Financial risk [member] | Linked [Member]

(398,254)

239,707

82,577

56,327

5,308

4,054

Financial assets measured at fair value through profit or loss

78,543

16,551

29,556

29,074

11,676

880

207,660

106,886

22,913

20,140

Financial assets measured at fair value through profit or loss

30,534

4,765

53,466

42,918

3,036

3,429

70,398

78,811

180,347

150,063

Credit and current maturities in respect of loans from banking corporations and other financial institutions

(63,819)

(54,071)

(9,663)

(13,532)

(20,796)

(20,920)

(50,255)

Financial liabilities measured at fair value through profit or loss

(1,751)

(1,528)

(96,029)

(140,306)

Loans from banking corporations and other financial institutions

(645,265)

(572,166)

(80,006)

(76,787)

(35,464)

(33,769)

(760,735)

(682,722)

HRK [Member] | Financial risk [member] | Linked [Member]

(468,947)

566,079

^[1]

49,535

^[1]

Financial assets measured at fair value through profit or loss

^[1]

3,732

^[1]

^[1]

601

^[1]

^[1]

^[1]

^[1]

53,868

^[1]

1,281

Financial assets measured at fair value through profit or loss

^[1]

^[1]

^[1]

^[1]

^[1]

1,281

Credit and current maturities in respect of loans from banking corporations and other financial institutions

^[1]

(1,585)

^[1]

^[1]

(1,242)

^[1]

^[1]

Financial liabilities measured at fair value through profit or loss

^[1]

^[1]

^[1]

(2,827)

^[1]

Loans from banking corporations and other financial institutions

^[1]

^[1]

(14,358)

^[1]

^[1]

^[1]

^[1]

^[1]

(14,358)

HUF [Member] | Financial risk [member] | Linked [Member]

^[1]

37,964

1,858

2,752

Financial assets measured at fair value through profit or loss

558

520

325

2,378

3,635

4,007

3,782

Financial assets measured at fair value through profit or loss

4,193

10,332

8,200

14,114

Credit and current maturities in respect of loans from banking corporations and other financial institutions

(1,759)

(1,535)

(20)

(68)

(1,894)

(240)

Financial liabilities measured at fair value through profit or loss

(102)

(80)

(3,775)

(1,923)

Loans from banking corporations and other financial institutions

(32,229)

(32,193)

(1,395)

(1,134)

(33,624)

(33,327)

Disclosure of operating segments [abstract]

$ (26,821)

$ 17,501

[1]	On December 31, 2022 the EURO currency replaces the HRK

Segmental Reporting

12 Months Ended

Dec. 31, 2023

Segmental Reporting

Note 27 - Segmental Reporting

General

Operating segments are identified based on the internal reports regarding the components of the Company, which are routinely reviewed by the Group’s Chief Operational Decision Maker for the purpose of allocating resource and assessing the performance of operating segments. The set of reports which are submitted to the Group’s Chief Operating Decision Maker, for the purpose of allocating resources and assessing the performance of operating resources, is based on an evaluation of certain solar power systems located in Israel as fixed asset items, which generate electricity revenues, and not as a contract asset under concession arrangement.

Presented below are details regarding the Company’s operating segments, in accordance with IFRS 8:

	Israel segment -	Produces its revenue from the sale of the electricity which is produced through solar energy in Israel, from power purchase agreements at fixed tariffs over extended periods.

	Central-Eastern Europe segment -	Produces its revenue from the sale of the electricity which is produced through wind energy and solar energy in countries of Central-Eastern Europe, mostly at fixed tariffs over extended periods.

	Western Europe segment -	Produces its revenue from the sale of the electricity which is produced through wind energy in countries of Western Europe, mostly at prices determined in the free market (willing buyer to willing seller).

	U.S.A segment -	Produces its revenue from the sale of the electricity which is produced through solar energy in the United States, mostly at fixed tariffs over extended periods. The segment first operated in 2023.

	Management and construction segment -	Produces its revenue from the provision of management services to projects in stages of development, construction or operation, and from the provision of construction services for projects which are fully or partially owned by the Company.

The results of the segments are measured based on the Company’s segment adjusted EBITDA which is the Operating Profit adjusted to add the Financial Asset repayments, depreciation and amortization, non-recurring events, and share-based compensation expenses attributed to the Company’s reportable segments.

			For the year ended December 31, 2023
	Israel		Central-Eastern Europe		Western Europe		USA		Management and construction		Total reportable segments		Adjustments			Total
	USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands			USD in thousands

External revenues		67,687		87,374		90,097		2,274		8,270		255,702		-			255,702
Inter-segment revenues		-		-		-		-		9,074		9,074		(9,074	)		-
Total revenues		67,687		87,374		90,097		2,274		17,344		264,776		(9,074	)		255,702

Segment Adjusted EBITDA		66,680		72,629		78,048		1,518		3,035		221,910		-			221,910

Reconciliations of unallocated amounts:
Headquarter costs (*)																	(30,434	)
Gains from projects disposals																	9,847
Intersegment profit																	1,587
Repayment of contract asset under concession arrangements																	(14,120	)
Depreciation and amortization and share based compensation																	(70,766	)
Other incomes not attributed to segments																	40,119
Operating profit																	158,143
Finance income																	36,799
Finance expenses																	(68,143	)
Share in the losses of equity accounted investees																	(330	)

Profit before income taxes																	126,469

(*)

Including general and administrative, project promotion and development expenses (excluding depreciation and amortization and share based compensation).

	For the year ended December 31, 2022
	Israel		Central-Eastern Europe		Western Europe		Management and construction		Total reportable segments		Adjustments			Total
	USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands			USD in thousands

External revenues		51,363		70,705		58,991		11,113		192,172		-			192,172
Inter-segment revenues		-		-		-		9,111		9,111		(9,111	)		-
Total revenues		51,363		70,705		58,991		20,224		201,283		(9,111	)		192,172

Segment Adjusted EBITDA		57,598		56,181		45,750		4,018		163,547		-			163,547

Reconciliations of unallocated amounts:
Headquarter costs (*)															(18,071	)
Intersegment loss															2,038
Repayment of contract asset under concession arrangements															(17,579	)
Depreciation and amortization and share based compensation															(50,940	)
Other incomes not attributed to segments															11,617
Operating profit															90,612
Finance income															23,341
Finance expenses															(62,591	)
Share in the losses of equity accounted investees															(306	)

Profit before income taxes															51,056

(*)

Including general and administrative, project promotion and development expenses (excluding depreciation and amortization and share based compensation).

	For the year ended December 31, 2021
	Israel		Central-Eastern Europe		Western Europe		Management and construction		Total reportable segments		Adjustments			Total
	USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands		USD in thousands			USD in thousands

External revenues		18,919		61,326		14,064		8,152		102,461		-			102,461
Inter-segment revenues		-		-		-		10,894		10,894		(10,894	)		-
Total revenues		18,919		61,326		14,064		19,046		113,355		(10,894	)		102,461

Segment Adjusted EBITDA		44,549		51,610		11,183		6,623		113,965		-			113,965

Reconciliations of unallocated amounts:
Headquarter costs (*)															(12,086	)
Intersegment profit															(2,811	)
Repayment of contract asset under concession arrangements															(32,857	)
Depreciation and amortization and share based compensation															(24,480	)
U.S. acquisition expense															(7,331	)
Operating profit															34,400
Finance income															30,333
Finance expenses															(37,175	)
Share in the losses of equity accounted investees															(189	)

Profit before income taxes															27,369

(*)

Including general and administrative, project promotion and development expenses (excluding depreciation and amortization and share based compensation).

Events After the End of the Reporting Period

12 Months Ended

Dec. 31, 2023

Disclosure of non-adjusting events after reporting period [abstract]

Events after the end of the reporting period

Note 30 - Events After the End of the Reporting Period

Acquisition of Aria Energy Ltd.

In February 2024, the Company has completed the acquisition of 80% of the ownership in Aria Energy Ltd., which is engaged in development, construction, ownership and operation of small PV systems for municipal customers in Israel.

Financial closing for two PV projects in Hungary

In March 2024, the Company has entered into a facility agreement with Raiffeisen Bank ZRT and Raiffeisen Bank International AG for financing two PV projects in Hungary. The total amount of the loan facility for the two projects is EUR 37.6 million.

C.	First investments through energy transition technology fund

In January 2024, the Company leveraged its newly established energy transition technology fund, formed in 2023, to make its first two investments in two technology companies. These investments, totaling USD 6 million, targeted the areas of battery technology and grid optimization.

Earnings Per Share (Details 1) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021