	Balance as of January 1, 2024		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, 2024
	USD in thousands		USD in thousands			USD in thousands			USD in thousands		USD in thousands			USD in thousands
Debentures (1)		323,161		151,898			2,877			4,976		-			482,912
Convertible Debentures (1)		130,931		-			(736	)		3,226		-			133,421
Loans from banks and other financial institutions		2,029,539		240,043			(56,015	)		47,592		(50,946	)(2)		2,210,213
Loans from non-controlling interests		92,751		(2,960	)		(4,683	)		1,941		(11,451	)		75,598
Liability in respect of tax equity arrangement		49,683		50,442			-			300		-			100,425
Lease liability		127,596		(5,852	)		(4,625	)		-		105,062	(4)		222,181

		2,753,661		433,571			(63,182	)		58,035		42,665			3,224,750

(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)

Including interest accrued 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			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	)		2,029,539
Loans from non-controlling interests		90,909		(1,211	)		2,466			754		(167	)		92,751
Liability in respect of tax equity arrangement		-		48,653			-			1,030		-			49,683
Lease liability		99,623		(4,848	)		1,611			-		31,210(4	)		127,596

		2,164,877		514,576			17,902			27,814		28,492			2,753,661

(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, 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.