See accounting policies AA and BB.
| 31 December 2021 | 31 December 2020 |
---|---|---|
Loans | 137 | 33 |
Lease liabilities | 55 | 21 |
| | |
Total Borrowings | 192 | 54 |
As at year-end, borrowings had the following terms to maturity:
| 31 December 2021 | 31 December 2020 |
---|---|---|
Maturity - Falling due within 1 year | 9 | 12 |
Maturity - Falling due between 1 and 5 years | 58 | 20 |
Maturity - Falling due after 5 years | 124 | 22 |
| | |
Maturity Borrowings | 192 | 54 |
Borrowings increased mainly due to the acquisition of wind farm Wieringermeer, which was partially financed by a loan of € 113 million. At year-end 2021, the fair value of borrowings was € 192 million (2020: € 54 million). For information regarding the fair value, see chapter 6.7.1.2. The average interest rate payable on loans was 0.59% (2020: 1.32%). The average incremental borrowing rate on the lease liabilities was 1.63% (2020: 1.77%).