| Changes in Liabilities from Financing Activities |
Note
14 - Changes in Liabilities from Financing Activities
| |
|
Balance
as of January 1, 2025 |
|
|
Cash
flows from financing activities (4) |
|
|
Translation
differences in respect of foreign operations |
|
|
Adjustments
in respect of cash flows for operating activities |
|
|
Non-cash
activities |
|
|
Balance
as of December 31, 2025 |
|
| |
|
USD
in
thousands
|
|
|
USD
in
thousands
|
|
|
USD
in
thousands
|
|
|
USD
in
thousands
|
|
|
USD
in
thousands
|
|
|
USD
in
thousands
|
|
|
Debentures
(1) |
|
|
482,912
|
|
|
|
62,717
|
|
|
|
81,818
|
|
|
|
29,759
|
|
|
|
-
|
|
|
|
657,206
|
|
|
Convertible
Debentures (1) |
|
|
133,421
|
|
|
|
101,103
|
|
|
|
32,078
|
|
|
|
9,344
|
|
|
|
-
|
|
|
|
275,946
|
|
|
Loans
from banks and other financial institutions (1) |
|
|
2,210,213
|
|
|
|
1,218,691
|
|
|
|
339,091
|
|
|
|
124,995
|
|
|
|
(18,127
|
)(2)
|
|
|
3,874,863
|
|
|
Loans
from non-controlling interests |
|
|
75,598
|
|
|
|
(1,009
|
)
|
|
|
9,931
|
|
|
|
2,420
|
|
|
|
6
|
|
|
|
86,946
|
|
|
Liability
in respect of tax equity arrangement |
|
|
100,425
|
|
|
|
382,879
|
|
|
|
(121,749
|
)
|
|
|
-
|
|
|
|
14,040
|
|
|
|
375,595
|
|
|
Deferred
income related to tax equity |
|
|
403,384
|
|
|
|
43,996
|
|
|
|
(901
|
)
|
|
|
(75,745
|
)
|
|
|
- |
|
|
|
370,734
|
|
|
Lease
liability |
|
|
222,181
|
|
|
|
(15,983
|
)
|
|
|
17,655
|
|
|
|
6,969
|
|
|
|
12,709
|
(3)
|
|
|
243,531
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
3,628,134
|
|
|
|
1,792,394
|
|
|
|
357,923
|
|
|
|
97,742
|
|
|
|
8,628
|
|
|
|
5,884,821
|
|
| |
(1) |
Including interest payable.
|
| |
(2) |
Mostly due to capitalization of finance
expenses during the construction period. |
| |
(3) |
Initial creation and index linking vis-à-vis
right-of-use asset. |
|
(4) |
See Note 2C for
additional information regarding the change in presentation of interest receipts and interest paid. |
| |
|
Balance
as of January 1, 2024 |
|
|
Cash
flows from financing activities (3) |
|
|
Translation
differences in respect of foreign operations |
|
|
Adjustments
in respect of cash flows for operating activities |
|
|
Non-cash
activities |
|
|
Balance
as of December 31, 2024 |
|
| |
|
USD
in
thousands
|
|
|
USD
in
thousands
|
|
|
USD
in
thousands
|
|
|
USD
in
thousands
|
|
|
USD
in
thousands
|
|
|
USD
in
thousands
|
|
|
Debentures
(1) |
|
|
323,161
|
|
|
|
142,559
|
|
|
|
2,877
|
|
|
|
14,315
|
|
|
|
-
|
|
|
|
482,912
|
|
|
Convertible
Debentures (1) |
|
|
130,931
|
|
|
|
(1,078
|
)
|
|
|
(736
|
)
|
|
|
4,304
|
|
|
|
-
|
|
|
|
133,421
|
|
|
Loans
from banks and other financial institutions |
|
|
2,029,539
|
|
|
|
181,023
|
|
|
|
(56,015
|
)
|
|
|
106,612
|
|
|
|
(50,946
|
)(2) |
|
|
2,210,213
|
|
|
Loans
from non-controlling interests |
|
|
92,751
|
|
|
|
(3,797
|
)
|
|
|
(4,683
|
)
|
|
|
2,778
|
|
|
|
(11,451
|
)
|
|
|
75,598
|
|
|
Liability
in respect of tax equity arrangement |
|
|
49,683
|
|
|
|
50,442
|
|
|
|
-
|
|
|
|
300
|
|
|
|
-
|
|
|
|
100,425
|
|
| Deferred
income related to tax equity |
|
|
60,880 |
|
|
|
360,667 |
|
|
|
- |
|
|
|
(18,163 |
) |
|
|
- |
|
|
|
403,384 |
|
|
Lease
liability |
|
|
127,596
|
|
|
|
(11,536
|
)
|
|
|
(4,625
|
)
|
|
|
5,684
|
|
|
|
105,062
|
(4) |
|
|
222,181
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
2,814,541
|
|
|
|
718,280
|
|
|
|
(63,182
|
)
|
|
|
115,830
|
|
|
|
42,665
|
|
|
|
3,628,134
|
|
| |
(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, capitalization of finance expenses during the construction period and classification
of disposal groups classified as held for sale. |
| |
(3) |
See Note 2C for additional information regarding the change in presentation
of interest receipts and interest paid. |
| |
(4) |
Initial creation and index linking vis-à-vis right-of-use asset and classification
to liabilities of disposal groups classified as held for sale. |
| |
|
Balance
as of January 1, 2023 |
|
|
Cash
flows
from
financing
activities
(5) |
|
|
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
|
|
|
|
61,556
|
|
|
|
(4,076
|
)
|
|
|
8,945
|
|
|
|
-
|
|
|
|
323,161
|
|
|
Convertible
Debentures (1) |
|
|
131,763
|
|
|
|
(1,077
|
)
|
|
|
(3,763
|
)
|
|
|
4,029
|
|
|
|
(21
|
)(2)
|
|
|
130,931
|
|
|
Loans
from banks and other financial institutions |
|
|
1,585,846
|
|
|
|
360,808
|
|
|
|
21,664
|
|
|
|
63,751
|
|
|
|
(2,530
|
) |
|
|
2,029,539
|
|
|
Loans
from non-controlling interests |
|
|
90,909
|
|
|
|
(2,606
|
)
|
|
|
2,466
|
|
|
|
2,149
|
|
|
|
(167
|
)
|
|
|
92,751
|
|
|
Liability
in respect of tax equity arrangement |
|
|
-
|
|
|
|
48,653
|
|
|
|
-
|
|
|
|
1,030
|
|
|
|
-
|
|
|
|
49,683
|
|
| Deferred
income related to tax equity |
|
|
- |
|
|
|
66,317 |
|
|
|
- |
|
|
|
(5,437 |
) |
|
|
- |
|
|
|
60,880 |
|
|
Lease
liability |
|
|
99,623
|
|
|
|
(7,226
|
)
|
|
|
1,611
|
|
|
|
2,378
|
|
|
|
31,210
|
(4) |
|
|
127,596
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
2,164,877
|
|
|
|
526,425
|
|
|
|
17,902
|
|
|
|
76,845
|
|
|
|
28,492
|
|
|
|
2,814,541
|
|
| |
(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 and index linking vis-à-vis
right-of-use asset. |
| |
(5) |
See
Note 2C for additional information regarding the change in presentation of interest receipts and interest paid. |
|